Via’s stock tumbles after first earnings as public company
Operating loss narrows, but financing costs drive bottom-line loss to $36.9 million.
Via Transportation, a provider of digital infrastructure for public transportation systems, has released its financial results for the third quarter of fiscal year 2025, its first report since going public in September. Following the announcement, the Israeli company’s stock fell by around 15% on the New York Stock Exchange.
The company reported quarterly revenue of $110 million, a 32% increase compared to the same quarter in 2024. Via currently operates in about 30 countries worldwide.
On the bottom line, Via’s net loss widened to $36.9 million, compared with a loss of $21.3 million a year earlier. The company attributed much of the increase to financing costs, including an $11 million loss on convertible bonds. However, its operating loss narrowed to $18.9 million, down from $20.6 million in the same period last year.
In September, Via completed its IPO, raising $493 million at a valuation of $3.7 billion post-money.
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“We are pleased with the momentum of the business in our first quarter as a public company. Via's third quarter results demonstrate the durability of our rapid growth and the stickiness of our platform," said Daniel Ramot, Via’s Co-founder and CEO. "Our investment in innovation and focus on ensuring we deliver quantifiable ROI to our customers has enabled us to exceed expectations across all key growth metrics. At the same time, we continue to generate significant operating leverage in the business resulting in a continuous improvement to our Adjusted EBITDA margin. We also benefit from the unique characteristics of the government sector which provide high visibility as we look to the quarters ahead.”
