Via Transportation Q2 Earnings Call Highlights

Via Transportation’s Q2 revenue rose 27% year over year to $136 million, while its adjusted EBITDA loss narrowed to $3.4 million. The company ended the quarter with 847 customers and remains on track to target adjusted EBITDA profitability in Q4. The company’s growth pipeline exceeded $700 million in potential annual contract value, driven increasingly by broader “network” deals with transit agencies. Via also cited expansion opportunities in school transportation and early-stage AI Labs deployments for municipal services. Via raised its full-year 2026 revenue outlook to $550 million-$553 million while maintaining its adjusted EBITDA loss forecast of $12.5 million-$7.5 million. Q3 profitability is expected to weaken temporarily due to seasonal volume patterns and customer-launch investments.

Via Transportation NYSE: VIA reported second-quarter revenue growth of 27% year over year to $136 million, as the public-transit technology company expanded its customer base and continued to narrow its adjusted EBITDA loss. Co-Founder and CEO Daniel Ramot said the company ended the quarter with 847 customers, up 23% from a year earlier, while its pipeline of incremental growth annual contract value doubled year over year for the second consecutive quarter. Via reported adjusted EBITDA of negative $3.4 million and adjusted net loss per share of negative $0.01, which Ramot described as progress toward the company’s target of adjusted EBITDA profitability in the fourth quarter.

Via said its pipeline exceeded $700 million in growth annual contract value, which CFO Clara Fain said excludes contract renewals and represents net-new annual revenue opportunities from both existing and new customers. Management characterized the pipeline as a leading indicator of potential revenue acceleration, although deals require execution before they become revenue. Ramot said a growing share of the opportunity involves “network” deals, in which Via offers to manage and modernize a customer’s broader transit network rather than provide a single product such as microtransit or paratransit planning. He said these opportunities reflect several years of product development, service expansion and customer-reference building. Management said a typical sales cycle runs about nine to 10 months, followed by an average implementation period of two to three months. As a result, Via generally begins recognizing revenue about a year after an opportunity enters its pipeline, although individual deal timelines vary. Fain said Via’s historical growth has been driven roughly one-third by new customers and two-thirds by expansions with existing customers. The company is seeing a similar mix in its pipeline, with a somewhat higher weighting toward new customers. Ramot cited an Alabama city that initially used Via’s microtransit solution and has since adopted the company’s full network offering. According to Ramot, the city had relied on a piecemeal set of legacy systems, faced driver shortages and had about 20% of scheduled buses fail to operate as planned. Via said its technology helped digitize driver recruitment, vetting and onboarding, while a redesigned network is intended to extend transit access to 20% of the city’s population that previously lacked access without increasing the annual budget.

Via also highlighted momentum in its schools transportation business, which focuses on alternative transportation for students poorly served by traditional school buses, including students in foster or shelter housing, students ...