VIA · Via Transportation, Inc.

Via Transportation's Q1 2026 results marked a milestone with Platform Annual Run-Rate Revenue surpassing $510 million for the first time, driven by 29% year-over-year revenue growth to $127 million and robust U.S. demand with 36% growth. Customer count expanded 23% to 838, partly from the Downtowner acquisition adding 94 customers. Gross profit rose 26% to $50 million, with Adjusted Gross Margin stable at 40%. Progress toward profitability was evident as Adjusted EBITDA loss narrowed 30% to $5.8 million, improving the margin by 300 basis points to -5%, reflecting operating leverage from the AI-powered platform serving cities globally. GAAP net loss widened slightly to $20.1 million due to higher operating expenses, including $15.6 million in stock-based compensation, but per-share loss improved significantly to $0.25 amid increased share count post-IPO. Balance sheet remains solid with $348 million in cash, down from year-end but supporting operations amid $21 million operating cash burn. CEO Daniel Ramot highlighted demand strength and path to profitability, positioning Via uniquely in transit optimization. Guidance signals continued momentum with Q2 Platform Revenue of $132.5-134 million (24% growth) and full-year $547-550 million (26% growth), targeting positive Adjusted EBITDA in Q4 2026, underscoring confidence in scaling efficiency and market adoption.