Via Transportation (VIA) investor relations material

Company overview and business model

• Provides a unified, cloud-based platform for digitizing and optimizing public transportation systems, serving government agencies, transit authorities, corporations, and universities in over 30 countries.

• Platform covers planning, scheduling, operations, microtransit, paratransit, school transport, and non-emergency medical transport, with integrated data analytics and consumer-grade passenger tools.

• Revenue model is primarily recurring, multi-year subscription contracts with volume-based components; over 90% of revenue comes from government customers.

• Business strategy focuses on consultative sales, regional network effects, and expanding customer relationships through upselling and cross-selling additional modules.

Financial performance and metrics

• Revenue grew from $100.0M in 2021 to $337.6M in 2024 (50% CAGR); $205.8M for the six months ended June 30, 2025.

• Platform Annual Run-Rate Revenue reached $428.5M as of June 30, 2025, up 34% YoY.

• Net loss improved from $(117.0)M in 2023 to $(90.6)M in 2024 and $(37.5)M for the six months ended June 30, 2025; net loss margin improved from (47)% in 2023 to (18)% in H1 2025.

• Adjusted EBITDA margin improved from (37)% in 2023 to (8)% in H1 2025.

• Gross margin was 39–40% in recent periods; gross dollar retention >95%, platform net revenue retention >120%.

• As of June 30, 2025: 689 customers, 84 with >$1M annual run-rate revenue, and less than 1% market penetration in core geographies.

Use of proceeds and capital allocation

• Estimated net proceeds of $275.1M (or $338.3M if underwriters' option exercised in full) to be used for general corporate purposes, including operating expenses, sales and marketing, R&D, geographic expansion, and potential acquisitions.

• No current agreements for material acquisitions or investments.