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VIA

Via Transportation, Inc.

VIA

Via Transportation, Inc. • NYSE
$34.83 ▲ 1.60% (+0.55)
Market Cap $2.69 B
52w High $56.31
52w Low $33.64
Dividend Yield 0%
P/E -29.77
Volume 122.79K
Outstanding Shares 77.14M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $109.653M ▲ $59.625M ▲ $-36.887M ▼ -33.64% ▼ $-0.464 ▼ $-32.117M ▼
Q2-2025 $107.133M ▲ $58.061M ▲ $-21.221M ▼ -19.808% ▼ $-0.27 ▲ $-13.938M ▲
Q1-2025 $102.888M ▲ $57.547M ▲ $-18.769M ▲ -18.242% ▲ $-1.47 ▼ $-14.495M ▼
Q4-2024 $91.684M ▲ $52.288M ▲ $-18.786M ▲ -20.49% ▲ $-0.24 ▲ $-12.681M ▲
Q3-2024 $83.314M $51.419M $-21.325M -25.596% $-0.27 $-18.096M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $378.158M ▲ $702.058M ▲ $127.468M ▼ $574.59M ▲
Q2-2025 $78.212M ▲ $398.87M ▲ $1.402B ▲ $-1.004B ▼
Q1-2025 $0 ▼ $0 ▼ $0 ▼ $0 ▲
Q4-2024 $77.905M ▲ $378.769M ▲ $1.367B ▲ $-987.092M ▼
Q1-2024 $0 $0 $0 $0

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-36.887M ▼ $-8.53M ▼ $-1.458M ▼ $309.718M ▲ $299.946M ▲ $-12.106M ▼
Q2-2025 $-21.221M ▼ $0 $0 $0 $78.212M ▲ $0
Q1-2025 $-16.317M ▲ $0 $0 $0 $-77.905M ▼ $0
Q2-2024 $-24.085M ▲ $0 $0 $0 $0 ▲ $0
Q1-2024 $-26.085M $0 $0 $0 $-71.737M $0

Five-Year Company Overview

Income Statement

Income Statement Via is still very much in a growth and investment phase. Revenue is rising at a healthy clip from a relatively small base, and gross profit is moving up alongside it, which suggests the core software and services are gaining traction. The company is still loss-making, but operating and net losses are shrinking, showing improving efficiency and better cost control relative to revenue. Overall, the income statement tells a story of early-stage scale-up: strong top-line momentum, but profitability is still some distance away and depends on continued execution and cost discipline.

Balance Sheet

Balance Sheet The balance sheet shows a business that is capital-light but financially stretched. Total assets and cash are fairly steady, so the company is not rapidly building up hard assets. Debt has risen, and shareholders’ equity is meaningfully negative, which means accumulated losses exceed the book value of assets. This structure is common for high-growth software companies exiting the private markets, but it leaves Via reliant on continued access to outside capital and on eventually turning the improving income statement into a stronger financial foundation.

Cash Flow

Cash Flow Via is burning cash, but the burn is gradually easing. Operating cash outflows are still significant, reflecting ongoing investment in technology, sales, and market expansion, yet the trend is toward smaller losses each year. Free cash flow mirrors this pattern, helped by very low spending on physical assets, which fits the company’s software-heavy, asset-light model. Continued progress in narrowing the cash burn will be an important marker of whether the business is moving toward a self-sustaining footing.

Competitive Edge

Competitive Edge Via occupies a differentiated niche at the intersection of public transit and modern mobility software. Its main strength lies in deep partnerships with cities and transit agencies worldwide, combined with an asset-light, business-to-business model that avoids direct competition with consumer ride-hailing giants. Proprietary routing algorithms, large-scale operational data, and planning tools give it a defensible position and make it hard for new entrants to match its depth quickly. At the same time, dependence on public-sector budgets, long procurement cycles, and competition from both legacy software vendors and mobility platforms remain ongoing competitive challenges.

Innovation and R&D

Innovation and R&D The company is heavily innovation-led, with its dynamic routing engine, end-to-end platform, and acquisitions like Remix and Citymapper forming the backbone of its offering. Via is not just optimizing single routes; it is trying to redesign entire transit networks with AI-driven planning, real-time demand matching, and integrated rider apps. Its product range spans microtransit, paratransit, school transport, corporate shuttles, and health mobility, all built on a common technology stack. Continued investment in AI, automation, and integration with electric and autonomous vehicles suggests R&D will remain a major cost but also a core driver of differentiation.

Summary

Via is an early-stage public mobility platform transitioning from private growth company to listed entity, with the financials and risk profile that typically come with that shift. The business is showing encouraging revenue growth and improving loss trends, but it still operates with negative earnings, negative equity, and ongoing cash burn, so financial risk and dependence on external funding remain material. On the strategic side, Via appears well positioned as a specialist partner to public agencies and institutions, with a strong technology backbone, data advantage, and sticky, long-term relationships. The key question looking ahead is whether the company can convert its strong competitive position and innovation pipeline into a sustainably profitable, cash-generative model before financial constraints start to bite more sharply.

NEWS

November 13, 2025 · 7:00 AM UTC

Via Announces Third Quarter 2025 Results

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October 15, 2025 · 9:00 AM UTC

Via Renewables, Inc. Announces Dividend on Preferred Stock

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October 9, 2025 · 4:46 PM UTC

Via to Announce Third Quarter 2025 Financial Results on November 13, 2025

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September 22, 2025 · 8:49 AM UTC

RideCo Statement in Response to Via Transportation Press Release

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September 18, 2025 · 8:00 AM UTC

Waymo and Via Announce Strategic Partnership to Advance AVs in Public Transit

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