Via Transportation, Inc. Class A (VIA)
NYSE:VIA
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Via Transportation, Inc. Class A
(NYSE:VIA)
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Rating:45Neutral
Price Target:
$14.00
▼(-6.67% Downside)
Action:ReiteratedDate:03/17/26
The score is held down primarily by weak financial performance (ongoing net losses and negative free cash flow) and bearish technicals (price below key moving averages with negative MACD). Offsetting this, the earnings call was constructive with guidance for continued growth and a clearer path toward improved adjusted EBITDA, while valuation is constrained by losses and no dividend support.
Positive Factors
Sustained Revenue Growth
Consistent high platform revenue growth across multiple quarters signals durable product-market fit in demand-responsive transit. Repeated >30% YoY growth demonstrates scalable adoption by transit agencies and enterprises, supporting long-term top-line expansion and eventual operating leverage as platform revenue scales versus fixed costs.
Negative Factors
Ongoing Adjusted EBITDA Losses
Despite margin progress, persistent adjusted EBITDA deficits mean the business has not yet converted growth into sustainable profitability. Continued operating losses require sustained margin improvement to prove self‑funding; otherwise the company will remain reliant on external capital, which can constrain strategic options and increase dilution or leverage risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Consistent high platform revenue growth across multiple quarters signals durable product-market fit in demand-responsive transit. Repeated >30% YoY growth demonstrates scalable adoption by transit agencies and enterprises, supporting long-term top-line expansion and eventual operating leverage as platform revenue scales versus fixed costs.
Read all positive factors
Via Transportation, Inc. Class A (VIA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.22B
Dividend YieldN/A
Average Volume (3M)960.26K
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue Growth28.86%
EPS Growth4.34%
CountryUS
Employees973
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.06
Shares Outstanding77,342,630
10 Day Avg. Volume890,397
30 Day Avg. Volume960,262
Financial Highlights & Ratios
PEG Ratio7.49
Price to Book (P/B)3.71
Price to Sales (P/S)5.36
P/FCF Ratio-71.61
Enterprise Value/Market Cap0.69
Enterprise Value/Revenue1.92
Enterprise Value/Gross Profit4.91
Enterprise Value/Ebitda-12.34
Forecast
1Y Price Target
$38.50Price Target Upside156.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)-0.01
Revenue Forecast (FY)$543.83M
Via Transportation, Inc. Class A Business Overview & Revenue Model
Company Description
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-end trans...
How the Company Makes Money
Via Transportation, Inc.’s detailed revenue model for the specific security “Via Transportation, Inc. Class A (VIA)” is null because publicly verifiable, security-specific revenue breakdowns and monetization details for that exact ticker/class cou...
Via Transportation, Inc. Class A Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Positive
The call conveys a predominantly positive outlook: management reported robust top-line growth (30%+ YoY), record net new revenue and customer wins, materially improved adjusted EBITDA margins, high retention metrics (119% net revenue retention, 98% gross retention), strong U.S. momentum and an accelerated AI-driven product roadmap. The company provided credible guidance for continued revenue growth (~25% in 2026) and a clear path to positive adjusted EBITDA in Q4 2026. Key challenges remain—the company is not yet consistently profitable, cash flow is slightly negative, growth guidance implies modest deceleration, and international/regulatory hurdles (notably in Germany) and service-heavy contracts keep some margin pressure. Overall, the positives meaningfully outweigh the negatives given the scale of growth, margin progress, customer retention and strategic positioning around AI and AVs.Positive Updates
Strong Revenue Growth
Q4 platform revenue grew 30% year-over-year to $119.0M; 2025 platform revenue grew 31% year-over-year to $434M. Q4 marked the eighth consecutive quarter with >=30% YoY platform revenue growth.
Negative Updates
Still Unprofitable on Adjusted EBITDA
Despite meaningful improvement, the company remains adjusted EBITDA negative: negative 6% in Q4 2025 and negative 8% for full-year 2025. FY2026 guidance targets near-breakeven but remains negative for the year (negative 2.3% to negative 1.4%).
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Q4-2025 Updates
Positive
Negative
Strong Revenue Growth
Q4 platform revenue grew 30% year-over-year to $119.0M; 2025 platform revenue grew 31% year-over-year to $434M. Q4 marked the eighth consecutive quarter with >=30% YoY platform revenue growth.
Read all positive updates
Company Guidance
Via guided Q1 2026 revenue of $123.3M–$123.8M (25.0%–25.5% YoY) with adjusted EBITDA margin of -5.9% to -5.5% (adjusted EBITDA of -$7.25M to -$6.75M), and full‑year 2026 revenue of $542.9M–$545.1M (25.0%–25.5% YoY) with adjusted EBITDA margin of -2.3% to -1.4% (adjusted EBITDA of -$12.5M to -$7.5M); management expects the company’s first adjusted‑EBITDA‑positive quarter in Q4 2026 and reiterated a long‑term target of 20%–25% adjusted EBITDA margin. They also noted >95% visibility into the next 12 months of revenue, a pipeline up >50% YoY with an average 9–10 month sales cycle, and framed the guide against 2025 results (platform revenue $434M, adjusted EBITDA -8%; Q4 2025: $119M revenue, -6% adjusted EBITDA).Via Transportation, Inc. Class A Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
55
Neutral
Cash Flow
32
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 434.34M | 337.63M | 248.85M | 460.49M | 393.49M |
| Gross Profit | 168.74M | 130.84M | 99.41M | 103.40M | 70.27M |
| EBITDA | -68.09M | -75.27M | -106.50M | 41.59M | 26.36M |
| Net Income | -96.36M | -90.28M | -116.69M | 11.20M | -3.95M |
Balance Sheet | |||||
| Total Assets | 733.10M | 387.83M | 367.94M | 330.95M | 355.28M |
| Cash, Cash Equivalents and Short-Term Investments | 370.91M | 77.91M | 71.74M | 33.66M | 68.90M |
| Total Debt | 28.50M | 1.28B | 17.83M | 120.00M | 135.00M |
| Total Liabilities | 105.36M | 1.38B | 1.29B | 214.90M | 217.64M |
| Stockholders Equity | 627.74M | -987.09M | -918.08M | 130.28M | 140.64M |
Cash Flow | |||||
| Free Cash Flow | -32.53M | -74.41M | -97.42M | 9.34M | 6.19M |
| Operating Cash Flow | -30.87M | -69.96M | -92.62M | 16.21M | 12.70M |
| Investing Cash Flow | -45.81M | -4.45M | -43.33M | -6.87M | -6.51M |
| Financing Cash Flow | 368.33M | 80.28M | 113.93M | -49.30M | -2.56M |
Via Transportation, Inc. Class A Risk Analysis
Via Transportation, Inc. Class A disclosed 66 risk factors in its most recent earnings report. Via Transportation, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Via Transportation, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $2.36B | 11.33 | 73.90% | ― | 53.82% | 227.54% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $339.95M | -15.25 | -22.88% | ― | 13.09% | 32.34% | |
56 Neutral | $761.09M | 61.80 | -13.21% | ― | -2.13% | ― | |
45 Neutral | $1.22B | -24.17 | -193.96% | ― | 28.86% | 4.34% | |
44 Neutral | $15.11M | -33.47 | 14.50% | ― | -2.39% | -3.11% |
* Technology Sector Average
VIA
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-70.62%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.