Via Raises Revenue Outlook as Loss Narrows
Second-quarter revenue topped the company’s prior guidance by $1.7 million at the high end.
Via Transportation (VIA), the transportation software company, reported 27% revenue growth as its adjusted loss narrowed and gross margin expanded in the second quarter.
Growth moderated for a third consecutive quarter even as Via moved closer to its goal of positive adjusted earnings before interest, taxes, depreciation and amortization. Revenue growth slowed from 29% in the first quarter, 30% in the fourth quarter of 2024 and 32% in the third quarter.
Revenue rose to $135.7 million from a year earlier and increased 6.5% sequentially from $127.4 million. Adjusted net loss narrowed to $0.8 million, or $0.01 a share, from $3.8 million, or $0.05 a share, in the first quarter. A year earlier, Via posted an adjusted loss of $9.2 million, or $0.72 a share.
The company’s platform annual run-rate revenue reached $542.8 million, rising 27% from a year earlier. U.S. revenue growth slowed to 35% from 36% in the first quarter, while the customer count increased by nine sequentially to 847. The sales pipeline doubled from a year earlier for the second consecutive quarter.
Adjusted gross margin widened to 41% from 40% in each of the previous three reported quarters. The adjusted EBITDA loss narrowed to $3.4 million from $5.8 million in the first quarter, while the margin improved to negative 3% from negative 5%.
Via raised its full-year revenue guidance to $550 million to $553 million from $547 million to $550 million. It continues to expect a full-year adjusted EBITDA loss of $7.5 million to $12.5 million and is targeting positive adjusted EBITDA in the fourth quarter.
Cash and cash equivalents declined to $335.9 million at June 30 from $348 million at the end of March. Operating cash use improved to $10.6 million from $16.3 million a year earlier, giving Via a smaller quarterly drain as it approaches its year-end profitability target.