Strong Revenue Growth
Total revenue for the quarter increased 6% over the same period last year to $236 million, with all three business segments meeting or exceeding their respective internal plans.
Adjusted EPS Increase
Adjusted EPS increased 10% over the prior year period, driven by operating performance, recent share repurchases, and reduction in interest rate on term loan debt.
Government Solutions Revenue Increase
Service revenue in Government Solutions increased 7% over the second quarter of 2024, with total revenue up about 10%.
Successful Automated Enforcement Legislation
Colorado and Nevada passed legislation authorizing school bus stop arm enforcement, adding about $40 million in total addressable market.
Improved Free Cash Flow
Free cash flow for the quarter was $40 million, with a net debt balance of $893 million and net leverage at 2.2x.