Via's Revenue Growth Accelerates to 31%

The Tip Desk · November 12, 2026 · 2 min read

Third-quarter revenue reached $143.5 million, and the company now expects fourth-quarter Adjusted EBITDA of $0.0 million to $1.5 million.

Via Transportation, Inc. (VIA), the public transit software and services platform, reported third-quarter revenue of $143.5 million, up 31% from a year earlier, as year-over-year growth accelerated from 27% in the second quarter.

Platform Annual Run-Rate Revenue, which the company defines as quarterly Platform Revenue multiplied by four, rose to $574.1 million. United States revenue growth accelerated to 42% year-over-year. Customer count reached 868, up 22% from a year earlier. The company said the Downtowner acquisition contributed 94 customers.

Co-founder and Chief Executive Officer Daniel Ramot said the team’s execution delivered a milestone quarter and that the acceleration of growth provided further validation for a strategy of building a full-stack platform combining AI-powered software and technology-enabled services for cities and transit agencies. He said the company continued to expand its product offering through Via AI Labs.

Profitability continued to improve on an adjusted basis. Adjusted EBITDA narrowed to a $3.23 million loss, or a 2% margin, from a $3.44 million loss in the second quarter. Adjusted Net Loss was $0.35 million, and Adjusted Net Loss per share rounded to breakeven. GAAP net loss was $18.76 million, or $0.23 a share. Adjusted Gross Margin held at 41%.

GAAP gross profit was $57.4 million. Operating loss was $21.2 million. Research and development expense was $26.2 million, sales and marketing $20.3 million, and general and administrative $32.1 million. Stock-based compensation and related employer payroll taxes totaled $15.4 million in the quarter. Interest income was $2.6 million.

Cash and cash equivalents were $323 million as of September 30, 2026. Accounts receivable were $123.3 million. Net cash used in operating activities was $14.5 million in the three months ended September 30.

For the fourth quarter, Via expects Platform Revenue of $150.0 million to $151.7 million, up 26.1% to 27.6% year-over-year, and Adjusted EBITDA of $0.0 million to $1.5 million, a 0.0% to 1.0% margin.

Full-year 2026 Platform Revenue guidance was raised to $556.7 million to $558.4 million, up 28.2% to 28.6% year-over-year. Full-year Adjusted EBITDA guidance was narrowed to a loss of $12.5 million to $11.0 million. The company said it is not able to provide an outlook for GAAP net loss or a reconciliation of expected Adjusted EBITDA to GAAP net loss for the fourth quarter or full year 2026 because of the difficulty of estimating certain items excluded from Adjusted EBITDA, including stock-based compensation and related employer payroll taxes.

The company said it will host a conference call to discuss the results on November 9, 2026.