VIA

MKT CAP:$1B

Via Transportation, Inc.

Market Cap

$1B

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$17.49-$9.69 (-35.65%)

Apr 21, 2026

Company Details

Via Transportation, Inc. provides a digital public transportation system platform in the United States, Germany, and internationally. It develops and operates TransitTech, a public mobility platform that enables partners to create end-to-en...

CEO

Daniel Ramot

IPO Date

Sep 12, 2025

Website

www.ridewithvia.com

Key Metrics TTM

Revenue

$392M

+33.0% YoY

Net Income

-$98M

EPS (Diluted)

-$1.24

Free Cash Flow

-$12M

Revenue / Share

$4.92

Gross Margin

38.5%

Operating Margin

-18.0%

Net Margin

-25.1%

FCF Margin

-3.1%

P/S

3.1x

P/E

—

Earnings Reports

Q4 2025

May 12, 2026

PENDING

FY 2025

Mar 5, 2026

$434M+28.6%EPS -$1.20

Q3 2025

Nov 6, 2025

$110M+31.6%EPS -$0.46

Q2 2025

Jul 31, 2025

$107M+28.9%EPS -$0.27

FY 2024

Mar 6, 2025

$338M+35.7%EPS -$1.24

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$56M	$22M	-$29M
Q2 23	$61M	$23M	-$29M
Q3 23	$62M	$25M	-$28M
Q4 23	$70M	$25M	-$26M
Q1 24	$80M	$29M	-$25M
Q2 24	$83M	$31M	-$22M
Q3 24	$83M	$31M	-$21M
Q4 24	$92M	$36M	-$16M
Q2 25	$107M	$42M	-$16M
Q3 25	$110M	$42M	-$18M

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	14.7x	—
Q1 24	13.5x	—
Q2 24	12.4x	—
Q3 24	11.6x	—
Q4 24	10.9x	—
Q2 25	10.0x	—
Q3 25	8.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 24	$0	$0
Q2 24	$0	$0
Q2 25	$0	$0
Q3 25	-$9M	-$12M

Capital Expenditures

Quarter	CapEx
Q1 24	$0
Q2 24	$0
Q2 25	$0
Q3 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+41.2%	+22.7%
Q2 24	+37.1%	+16.6%
Q3 24	+34.5%	+15.4%
Q4 24	+31.0%	+12.7%
Q2 25	+34.7%	+18.4%
Q3 25	+31.9%	+21.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	$23M	—	—	$27M
Q2 23	$25M	—	—	$28M
Q3 23	$25M	—	—	$28M
Q4 23	$23M	—	—	$28M
Q1 24	$23M	—	—	$30M
Q2 24	$22M	$17M	$14M	—
Q3 24	$22M	—	—	$29M
Q4 24	$21M	—	—	$31M
Q2 25	$23M	$19M	$16M	—
Q3 25	$23M	—	—	$37M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	—	-54.8%	—
Q2 23	—	-45.9%	—
Q3 23	—	-41.7%	—
Q4 23	—	-31.4%	—
Q1 24	41.2%	-29.0%	12.2
Q2 24	37.1%	-23.4%	13.8
Q3 24	34.5%	-21.7%	12.8
Q4 24	31.0%	-13.8%	17.2
Q2 25	34.7%	-13.0%	21.7
Q3 25	31.9%	-29.3%	2.6

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$72M	$0	$72M
Q1 24	$0	$0	$0
Q4 24	$78M	$0	$78M
Q1 25	$0	$0	$0
Q2 25	$78M	$0	$78M
Q3 25	$378M	$0	$378M
Q4 25	$371M	$0	$371M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	80M	—	—
Q2 23	80M	0.0%	—
Q3 23	80M	0.0%	—
Q4 23	80M	0.0%	—
Q1 24	80M	0.0%	0.0%
Q2 24	80M	0.0%	0.0%
Q3 24	80M	0.0%	0.0%
Q4 24	80M	0.0%	0.0%
Q2 25	72M	-9.7%	-9.7%
Q3 25	80M	+10.8%	+0.1%

Shares Outstanding