# Via Transportation, Inc. (VIA)

> Source: Nexqual · https://nexqual.com/VIA · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Via Transportation, Inc. (VIA), nexqual.com/VIA" · informational, not investment advice.

**Price:** USD 36.39 (+1.17% on the day) · last close of Oct 28, 2026; US market pre market, not a live price. Prev close 35.97 · day 35.61–36.91 · 52w 12.95–55.2 · market cap $3.10B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $492M, net income -$98.5M (-20.0% margin), free cash flow -$42.2M (SEC filings).
- Insider open-market purchases, last ~7 months: 5 Form 4 filings, $1.7M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.60 on a 1–5 scale) (10 analysts), mean target USD 37.67 (range 26–55).
- Total return with dividends: 1Y -31.4% vs S&P 500 +13.6%; 5Y -26.5% vs S&P 500 +79.8%.
- Next earnings: 2026-11-09, EPS estimate USD -0.03, revenue estimate $138M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $249M | $338M | $434M | $492M |
| Gross profit | $99.4M | $131M | $172M | — |
| Operating income | -$114M | -$83.9M | -$76.6M | -$88.6M |
| Net income | -$117M | -$90.3M | -$96.4M | -$98.5M |
| EPS (diluted) | -$9.60 | -$7.21 | -$2.92 | — |
| Free cash flow | -$95.1M | -$71.0M | -$32.5M | -$42.2M |
| Gross margin | 39.9% | 38.8% | 39.6% | — |
| Operating margin | -46.0% | -24.8% | -17.6% | -18.0% |
| Net margin | -46.9% | -26.7% | -22.2% | -20.0% |
| Revenue growth | — | +35.7% | +28.6% | — |
| Cash + short-term investments | $73.6M | $77.9M | $371M | — |
| Total debt | — | $32.0M | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 6.3x · P/B 5.0x · FCF yield -1.36% · Earnings yield -3.18%

## Insider purchases (SEC Form 4, open-market, last ~7 months)
5 purchases, $1.7M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-11 | Peres Nechemia Jacob | Director | 10,080 | $249K | 24.74 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-10 | Dinur Arnon | Director | 44,780 | $999K | 22.31 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-12…2026-06-16 | Fain Clara | Chief Financial Officer | 1,380 | $20K | 14.48 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-12…2026-06-16 | Ramot Daniel | Chief Executive Officer | 6,904 | $100K | 14.46 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-09 | Peres Nechemia Jacob | Director | 25,000 | $368K | 14.7 | Too little history (no open-market trades in 2023 or 2024) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.60 on a 1–5 scale), 10 analysts; mean target USD 37.67 (low 26, high 55).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-21 | Morgan Stanley | Target raised | Overweight | $24 → $33 |
| 2026-08-07 | Oppenheimer | Target raised | Outperform | $25 → $30 |
| 2026-08-07 | Wells Fargo | Target raised | Overweight | $30 → $32 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2025-09-08) |
|---|---|---|
| Total return | -31.4% | -26.5% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -31.5% | -23.7% |
| Volatility (annualized) | 70.5% | 67.3% |
| Max drawdown | -75.3% (Nov 2025→May 2026) | -74.5% (Oct 2025→Mar 2026) |

## Peers (Software - Application)
APPF (AppFolio, Inc.) USD 205 +1.76% · RNG (Ringcentral, Inc.) USD 86.2 +0.70% · CVLT (Commvault Systems, Inc.) USD 166.46 -3.53% · TTAN (ServiceTitan, Inc.) USD 80.86 -0.93% · DSGX (The Descartes Systems Group Inc) USD 92.36 +0.20% · IDCC (InterDigital, Inc.) USD 320.56 -2.51%

## More
Full page: https://nexqual.com/VIA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in VIA's own 10-K filed 2026-03-06 (https://www.sec.gov/Archives/edgar/data/1603015/000160301526000008/via-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Citymapper | "Since our acquisition, we have integrated Citymapper's powerful back-end data infrastructure into Via's platform and developed data and insight solutions for our customers, as well as the option to co-brand in the Cityma…" |
| Customer | Apple (AAPL) | "For example, substantially all of our customers deploy our software using mobile applications distributed through the Apple App Store and Google Play." |
| Customer | Alphabet (Google) (GOOGL) | "For example, substantially all of our customers deploy our software using mobile applications distributed through the Apple App Store and Google Play." |
| Partner | Wells Fargo Securities | "Although we currently anticipate that our existing cash and cash equivalents, together with our cash flow from operations and amounts available under our amended and restated credit agreement with Wells Fargo Bank, Natio…" |
| Partner | HSBC Ventures USA | "Although we currently anticipate that our existing cash and cash equivalents, together with our cash flow from operations and amounts available under our amended and restated credit agreement with Wells Fargo Bank, Natio…" |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $103.3M | 76.2% | +34.6% |
| Germany | $18.3M | 13.5% | -11.8% |
| All other countries | $14.1M | 10.4% | +46.1% |
| Total revenue | $135.7M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.03 | $-0.00 | −$0.03 | $137.9M | 9 |
| Next quarter (ends 2026-12-31) | $0.05 | $0.03 | +38.7% | $150.7M | 9 |
| Current fiscal year (ends 2026-12-31) | $-0.04 | $-0.03 | $0.00 | $551.7M | 10 |
| Next fiscal year (ends 2027-12-31) | $0.39 | $0.56 | -31.4% | $674.6M | 10 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-09): ±15.5%; last 4 reports averaged ±10.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 77.6% | ±15.5% |
| 2026-12-18 | 50 | 64.3% | ±19.0% |
| 2027-01-15 | 78 | 64.1% | ±23.2% |
| 2027-04-16 | 169 | 64.4% | ±33.9% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 6, 2026 | Quarter ended Jun 30, 2026 | −$0.01 | −$0.02 | Beat +$0.01 | +4.0% |
| May 12, 2026 | Quarter ended Mar 31, 2026 | −$0.05 | −$0.06 | Beat +16.7% | -21.4% |
| Feb 27, 2026 | Quarter ended Dec 31, 2025 | — | — | — | -2.3% |
| Nov 13, 2025 | Quarter ended Sep 30, 2025 | −$0.39 | −$0.46 | Beat +15.2% | -13.1% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-06 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1603015/000160301526000027/0001603015-26-000027-index.htm |
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1603015/000160301526000026/0001603015-26-000026-index.htm |
| 2026-07-10 | 8-K | Director or executive officer change, or pay arrangement — “Via Transportation, Inc. ("Via") is appointing Matt Levine as Chief Legal Officer, effective July 27, 2026. Matt previously served as General Counsel and Chief Privacy Officer at Clear Secure, Inc. (NYSE:YOU) from 2012 to 2024 and has most recently served as Chief Legal Officer at Success Academy Charter Schools. Also effective July 27, 2026, Erin Abrams will step down as Chief Legal Officer and transition into a senior advisory role. Ms. Abrams will serve in this advisory capacity until January 1, 2027, ensuring…” | https://www.sec.gov/Archives/edgar/data/1603015/000160301526000019/0001603015-26-000019-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.