Via Transportation (VIA) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $136 million, up 27% year-over-year, with customer count up 23% to 847 and annual run-rate revenue at $543 million, reflecting strong platform demand and pipeline expansion.

• Adjusted EBITDA improved to -$3.4 million, and adjusted net loss per share was -$0.01, nearing profitability; GAAP net loss was $19.6 million, improved from $21.2 million in Q2 2025.

• U.S. market led growth with 35% year-over-year revenue increase, representing 76% of total revenue, and large customers ($1M+ annual run rate) grew 36% to 114.

• AI-driven products and services accelerated operational efficiency and customer outcomes, with the Downtowner acquisition contributing 94 new customers.

• Pipeline doubled year-over-year for the second consecutive quarter, surpassing $700 million in growth annual contract value.

Financial highlights

• Gross profit for Q2 2026 was $55.6 million, with gross margin improving to 41% from 39% in Q2 2025; adjusted gross profit was $56.3 million.

• Adjusted EBITDA margin improved to -3% from -8% in Q2 2025.

• Adjusted net loss per share improved to -$0.01 from -$0.72 year-over-year; GAAP EPS at -$0.24.

• Ended Q2 2026 with $336 million in cash and no debt.

• Interest income rose to $2.8 million in Q2 2026 due to higher cash balances post-IPO.

Outlook and guidance

• Q3 2026 revenue expected between $137.6M and $138.2M, up 25.5%-26% year-over-year.

• Full-year 2026 revenue guidance raised to $550M-$553M (26.6%-27.3% growth); adjusted EBITDA guidance maintained at -$12.5M to -$7.5M.

• Targeting first quarter of adjusted EBITDA profitability in Q4 2026.

• Operating expenses expected to rise in absolute terms but decline as a percentage of revenue over time.

• Existing liquidity, including cash and a $100 million credit facility, expected to cover capital needs for at least the next 12 months.