Filing Flows › Via Transportation (VIA) › Q4 2025
Via Transportation (VIA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 6, 2026
Via Transportation (VIA) reported revenue of $119M for the fourth quarter 2025 (Q4 2025), +30% from a year earlier and +8% from the quarter before. Operating margin was -20.5%, net loss $21.9M (18.4% of revenue).
Via Transportation, Q4 2025: revenue $119M (+30% year over year), operating margin -20.5%, net loss $21.9M, operating cash flow −$455K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $119M | +8% | +30% |
| Operating profit | −$24.4M | — | — |
| Net earnings | −$21.9M | — | — |
| Operating cash flow | −$455K | — | — |
What changed
Revenue was $118.9M in Q4 2025, up 30% year over year and up 8% from the previous quarter.
Gross margin was 39.5%, down 0.8 points from a year earlier. Operating costs exceeded revenue by $24.4M, an operating margin of -20.5%. Operating expenses grew 33% against revenue growth of 30%. The fastest-growing cost line was General & admin (+56%). The quarter ended with a net loss of $21.9M, narrower than the previous quarter's $36.9M loss.
Operating cash flow was −$455K. Non-cash charges added back $2.1M of depreciation and amortization and $14.4M of share-based compensation. Working capital and other items added $5.0M. Capital expenditures of $326K exceeded it, leaving free cash flow of −$781K.
Questions
What was Via Transportation's revenue in the fourth quarter 2025?
Via Transportation (VIA) reported revenue of $119M for the fourth quarter 2025 (Q4 2025), +30% from a year earlier and +8% from the quarter before.
Was Via Transportation profitable in the fourth quarter 2025?
Operating loss was $24.4M (-20.5% of revenue) and net loss $21.9M.
Source: Via Transportation 10-K on SEC EDGAR.