Q3 2020 Verra Mobility Corp Earnings Call
Robert Caramel village, Chief Executive Officer interests, Chito, our Chief Financial Officer. They will begin with prepared remarks, and then we'll open up the call for Q and a draw.
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Our third quarter performance showed modest signs of improvement in our commercial services segment continued strength in our government solutions segment and was highlighted by a return to profitability strong cash generation and EBITDA margin levels that are consistent with our historical average.
Overall, the trends across the business during the quarter were similar to what we experienced in the latter part of the second quarter that said signs of optimism are appearing as travel related activity continued to trend up throughout the quarter a good sign for tolling activity in our commercial services segment as well as for variable rate further enforcement in our government solutions segment while.
It's too early to tell if this trend will continue we are certainly encouraged by the upward trajectory.
While our business is facing extreme challenges like most of the global economy. We continue to believe we have built a highly resilient business that has incredible upside more.
The retail chain and another with one of the largest specialty commercial trucking operators.
Similar to the U.S. the European rental car market has been negatively impacted by COVID-19. The result of this has been slower decision, making and a lack of resources for our partners to help accelerate the implementation of our tolling solutions.
127 in the fourth quarter, which would fulfill the entire order of 720 cameras.
We also maintained our consistently high renewal rates again in Q3 during the quarter, we renewed a dozen contracts, including key customer programs in San Francisco White Plains, New York, and Austin, Texas to name a few.
In addition to the renewals we have a number of program expansion, including an increase in the number of speed cameras in Baltimore, Maryland.
Revenue associated with the school bus programs and variable rate school than fee programs. We.
We continue to believe our balanced product portfolio provides stability in these uncertain times and for growth in the future but.
Before I hand, it over to Tricia to walk through the financials in more detail I want to welcome Patrick Byrne to the board Mr. Burns currently the CEO of GE digital the software division of the General Electric company.
Previously served as the senior Vice President of for the Corporation and previously served as an independent director of Micron technology from 2011 until earlier this year, Mr. Burn significant technological and operational experience makes him well qualified to serve as a member of the company's board with that I will turn it over to Trisha.