Via Transportation Inc. Class A Common Stock (VIA)

FairStock Score: 38/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Via is an asset-light software platform for transit networks, a business that can be attractive if it becomes embedded in city and operator workflows. But I must judge by the numbers, not the story. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $135.7 million and net income was -$19.6 million. That follows fiscal Q1 2026, revenue of $127.4 million and net loss of $20.1 million. For the full fiscal year 2025, ended 2025-12-31, revenue was $434.3 million and net loss was $96.4 million; in fiscal 2024 revenue was $337.6 million and net loss $90.3 million, and in fiscal 2023 revenue was $248.9 million and net loss $116.7 million. So sales are expanding, but profits are not there. The trailing-twelve-month free cash flow shown in the data is -$48.3 million, and the FCF yield is -1.9%. At the 2026-10-13 close of $32.11, FairStock P/B is 4.23 and P/E is -10.92; negative earnings make the P/E meaningless. ROE is -23.61% and ROCE is -9.92%. The balance sheet looks low-levered, with D/E 0.03 and Altman Z-Score 13.97, and Piotroski 5/9 is middling. The Lynch category is none because losses occurred in each of the last three years. There may be switching costs in transit software, but I see no proven moat in the financials. The price already assumes future success, while Graham would ask for evidence of earning power and margin of safety.

In plain English: Via Transportation provides software to help cities and transit operators plan, run, and manage digital transportation networks. The business is growing sales but has lost money in each of the last three years, and the latest quarter was still unprofitable and cash-flow negative. At the recent price, the stock does not look cheap on current numbers; much of the value depends on whether it can turn growing sales into real profits.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer