Overview

• Public transit software provider's fiscal Q1 revenue rose yr/yr to $127 mln

• Adjusted EBITDA loss narrowed to $5.8 mln; adjusted net loss per share improved to $0.05

• Customer count grew 23% yr/yr, aided by Downtowner acquisition

Outlook

• Via expects Q2 2026 platform revenue of $132.5 mln to $134.0 mln

• Company sees FY 2026 platform revenue between $547.0 mln and $550.0 mln

• Via expects positive adjusted EBITDA in Q4 2026

Result Drivers

• U.S. GROWTH - Revenue in the United States rose 36% yr/yr, supporting overall company growth

• CUSTOMER EXPANSION - Customer count increased 23% yr/yr, with the Downtowner acquisition contributing 94 customers

• PLATFORM ADOPTION - Co attributed revenue milestone to increased adoption of its end-to-end platform and operating leverage

Company press release: ID:nBw5dyftta

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		-$20.15 mln
Q1 Adjusted EBITDA		-$5.81 mln
Q1 Adjusted Gross Profit		$50.73 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for Via Transportation Inc is $29.00, about 71.3% above its May 11 closing price of $16.93

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