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Software - Application · Technology · Fiscal year ends Dec 31
Via Transportation reported revenue of $434M in the fiscal year ended Dec 2025, up 28.6% from the year before. Operating income was −$77M, an operating margin of −17.6%, and net income was −$96M. Operating cash flow of −$31M less capital expenditure of $2M left free cash flow of −$33M.
Ranks among the 83 software - application companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Revenue | 249 | 338 | 434 |
| Cost of revenue | 149 | 207 | 263 |
| Gross profit | 99.4 | 131 | 172 |
| Research & development | 95.8 | 89.0 | 92.4 |
| Selling, general & admin | 118 | 126 | 156 |
| Operating income | −114 | −83.9 | −76.6 |
| Interest expense | 0.7 | 4.3 | 7.3 |
| Pre-tax income | −115 | −88.7 | −93.8 |
| Income tax | 1.8 | 1.9 | 2.5 |
| Net income | −117 | −90.3 | −96.4 |
| Diluted EPS | −9.60 | −7.21 | −2.92 |
| Diluted shares | 12.2 | 12.5 | 32.9 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Cash & equivalents | 73.6 | 77.9 | 371 |
| Receivables | – | 73.8 | 81.6 |
| Current assets | – | 163 | 470 |
| Net PP&E | – | 11.2 | 13.4 |
| Goodwill | 162 | 160 | 192 |
| Total assets | – | 379 | 733 |
| Payables | – | 3.9 | 4.4 |
| Deferred revenue | – | 22.6 | 26.9 |
| Current liabilities | – | 76.5 | 94.2 |
| Total liabilities | – | 172 | 105 |
| Shareholders' equity | −919 | −987 | 628 |
| Backlog (remaining obligations) | – | – | 294 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Operating cash flow | −92.6 | −70.0 | −30.9 |
| Capital expenditure | 2.5 | 1.1 | 1.7 |
| Free cash flow | −95.1 | −71.0 | −32.5 |
| Depreciation & amortisation | 3.1 | 3.5 | 3.9 |
| Stock-based compensation | 13.1 | 21.2 | 30.3 |
| Acquisitions | 38.5 | 0.0 | 39.9 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Revenue growth (YoY) | – | 35.7% | 28.6% |
| Gross margin | 39.9% | 38.8% | 39.6% |
| Operating margin | −46.0% | −24.8% | −17.6% |
| Net margin | −46.9% | −26.7% | −22.2% |
| Return on equityBlank when equity is negative | – | – | −15.4% |
| ROCEEBIT ÷ (assets − current liabilities) | – | −27.8% | −12.0% |
| Free cash flow margin | −38.2% | −21.0% | −7.5% |
| Cash conversion (CFO ÷ net income) | 0.79x | 0.77x | 0.32x |
| Receivable days | – | 80 | 69 |
| Payable days | – | 7 | 6 |
| Interest cover | −175x | −19.6x | −10.4x |
| Current ratio | – | 2.13x | 4.98x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.