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Jonathan Baldwin
Executive Vice President of Government Solutions, VERRA MOBILITY CORP

Verra Mobility CEO discusses efforts to pioneer transportation technology

🎥 Jan 27, 2023 📺 CNBC Television ⏱ 3m 👁 1083 views
David Roberts, CEO of Verra Mobility, joins 'Power Lunch' to discuss Verra's urban mobility commitment, business travel ...
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About Jonathan Baldwin

In a September 2023 interview, Verra Mobility CEO David Roberts discussed the company's focus on paying down debt and expanding its influence in traffic and safety technologies, noting that both are priorities as travel increases and governments seek revenue. Roberts stated that Verra Mobility currently handles tolling and violation processing, and identified vehicle payments, telematics, and asset management as potential areas of interest over the next 12 to 18 months. He also said the company is well positioned to address emerging mobility challenges such as congestion pricing and distracted driving. Roberts observed that travel, including business travel, remains "extraordinarily strong," citing rental car toll data as evidence that earlier predictions of a lasting decline in business travel have not materialized. He also reflected on how his father's illness and death reshaped his personal outlook, emphasizing the importance of maintaining close connections with his four children.

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Transcript (9 segments)
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Unknown0:01
On AI and the internet of things, I remember when that is all we talked about.
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Host0:06
It is still happening. The CEO of Verra Mobility became a SPAC, up about 50% and open every the past 12 months and the past 24. It powers transportation technologies like red light cameras, automated speed enforcement, toll payments, and rental cars and digitized parking. Revenues were up 22%. Roberts brought the company public and grew up with a dad who ran a business. His dad had a big influence on him as a leader, and when his dad was diagnosed with cancer, when David was 23, it reshaped his outlook.
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Jonathan Baldwin0:42
As my dad got sick, that was like an immediate control-alt-delete moment. We're going to redo this relationship. Over the course of the last, even 24 months of his life, I was with him—certainly after I graduated college, I was with him. I was learning from him as much as I could, and then as he got sicker and sicker, I was just present for him. The ending of that story was a really great relationship. What it did for me is, one, I have four kids—two boys and two girls—it gives me a much brighter line that I need to be connected to these kids much earlier. I want to give them room to grow but have a tighter connection.
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Host1:32
Right now on the business side, he's focused on paying down the debt and growing influence in technologies connected to Trax and safety. Both are top of mind with people traveling more and governments needing revenue.
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Jonathan Baldwin1:45
We today do tolling and violation processing, but in the future you could really see us looking at things like vehicle payments, how a car makes a payment, or telematics and how you manage these assets. These are potential interests for us over the next 12 to 18 months. And then if you look at on the mobility side, there are so many new things coming, like congestion pricing and the increased attention to distracted driving. Those are big problems that we feel like we're well suited to help drive solutions for, and we're excited at the challenge to do so.
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Host2:24
He said travel remains extraordinarily strong, including business travel. Which is interesting because a year ago people were still saying a big portion of that wouldn't come back. The numbers on rental car tolls suggest otherwise. Four kids, can you believe it.
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Jonathan Baldwin2:43
Two boys, two girls.
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Host2:45
And the fact that he is the—the numbers are incredible. They're a toll collector and you joke that you want to be... It just, it is impressive given some of the headwinds we are facing. Have the government municipalities and toll authorities, as opposed to consumer connection here?
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Jonathan Baldwin3:05
Absolutely, mainly those. But also universities, like if they have a parking garage on a due parking enforcement. But local governments up to state governments, dealing with those highway areas where there is construction going on or they have the camera on you to snap the picture of your license plate.