Logo: https://ridewithvia.com/ ( Media kit link ), Non-free logo, via Wikipedia5
Real-time ridesharing company
Via Transportation, Inc. (operating as Via) is an American technology company that develops transit management software as a service (SaaS) and provides operational support for cities, transit agencies, schools and universities, healthcare providers, and corporations around the world. Founded in 2012, the company's software supports fully managed transit services, including planning, scheduling, daily operations, driver and fleet management, rider tools, consulting, and data analytics.3 It was founded by Daniel Ramot.1Wikipedia text CC BY-SA 4.0
Via Transportation, Inc. (operating as Via) is an American technology company that develops transit management software as a service (SaaS) and provides operational support for cities, transit agencies, schools and universities, healthcare providers, and corporations around the world. Founded in 2012, the company's software supports fully managed transit services, including planning, scheduling, daily operations, driver and fleet management, rider tools, consulting, and data analytics.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Cost of revenueResearch and developmentOther costs
Cost of revenue60¢$262.5M
Research and development21¢$92.4M
Other costs18¢$76.9M
Income tax1¢$2.5M
Out of $434.3M in revenue.6 The company lost money this year.
Financial statements
Revenue6$434.3M in 2025+75% since 2023Gross profit6$171.8M in 2025+73% since 2023Operating income6-$76.6M in 2025−33% since 2023Net income6-$96.4M in 2025−17% since 2023
Revenue101112$135.7M in Q2 FY2026+27% since Q2 FY2025Gross profit101112$55.6M in Q2 FY2026+33% since Q2 FY2025Operating income101112-$21.8M in Q2 FY2026+35% since Q2 FY2025Net income101112-$19.6M in Q2 FY2026−8% since Q2 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
Period ending
2025-12-31
2024-12-31
2023-12-31
REVENUE
$434.3M
$337.6M
$248.9M
COST OF REVENUE
$262.5M
$206.8M
$149.4M
GROSS PROFIT
$171.8M
$130.8M
$99.4M
Research and development
$92.4M
$89.0M
$95.8M
Sales and marketing
$67.4M
$55.5M
$53.8M
General and administrative
$88.6M
$70.3M
$64.2M
Total operating expenses
$248.4M
$214.7M
$213.9M
OPERATING LOSS
-$76.6M
-$83.9M
-$114.5M
INTEREST INCOME
$5.3M
$2.2M
$3.6M
INTEREST EXPENSE
-$7.3M
-$4.3M
-$653.0K
LOSS ON EXTINGUISHMENT OF CONVERTIBLE NOTES
-$10.9M
$0
$0
OTHER INCOME (EXPENSE)Net
-$4.2M
-$2.7M
-$3.6M
LOSS BEFORE PROVISION FOR INCOME TAXES
-$93.8M
-$88.7M
-$115.1M
PROVISION FOR INCOME TAXES
-$2.5M
-$1.9M
-$1.8M
NET LOSS
-$96.4M
-$90.6M
-$117.0M
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST
$0
-$271.0K
-$278.0K
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS
-$96.4M
-$90.3M
-$116.7M
NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERSBASIC (in usd per share)
-$2.92
-$7.21
-$9.60
NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS DILUTED (in usd per share)
-$2.92
-$7.21
-$9.60
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING USED IN COMPUTING NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERSBASIC (in shares)
32.9M shares
12.5M shares
12.2M shares
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING USED IN COMPUTING NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS DILUTED (in shares)
32.9M shares
12.5M shares
12.2M shares
No quarter-by-quarter statement was filed.
Total assets6$733.1M in 2025+94% since 2024Total liabilities6$105.4M in 2025−39% since 2024Shareholders’ equity6$627.7M in 2025Cash6$370.9M in 2025+297% since 2022
Total assets111210$718.3M in Q2 FY2026+2% since Q3 FY2025Total liabilities111210$100.0M in Q2 FY2026−22% since Q3 FY2025Shareholders’ equity101112$618.3M in Q2 FY2026Cash101112$335.9M in Q2 FY2026+324% since Q2 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash and cash equivalents
$370.9M
$77.9M
Accounts receivablenet of allowance of $41 and $127 as of December 31, 2025 and December 31, 2024, respectively
$81.6M
$73.8M
Prepaid expenses and other current assets
$17.1M
$11.5M
Total current assets
$469.6M
$163.2M
Restricted cash and cash equivalents
$1.2M
$1.1M
Property and equipmentnet
$13.4M
$11.2M
Operating lease right-of-use assets
$18.3M
$15.2M
Deferred tax assets
$529.0K
$401.0K
Intangible assetsnet
$36.0M
$26.3M
Goodwill
$192.3M
$160.1M
$161.8M
Other noncurrent assets
$1.8M
$1.2M
Total noncurrent assets
$263.5M
$215.6M
TOTAL ASSETS
$733.1M
$378.8M
Accounts payable
$4.4M
$3.9M
Accrued expenses and other current liabilities
$24.9M
$19.3M
Operating lease liabilities
$9.7M
$8.3M
Deferred revenue
$26.9M
$22.6M
Insurance payables
$15.1M
$12.2M
Accrued compensation and benefits
$13.1M
$10.2M
Total current liabilities
$94.2M
$76.5M
Operating lease liabilities
$9.4M
$7.3M
Line of credit
$0
$35.0M
Convertible notes
$0
$32.0M
Derivatives liability
$0
$18.8M
Deferred revenue
$1.7M
$1.9M
Total noncurrent liabilities
$11.1M
$95.0M
Total liabilities
$105.4M
$171.6M
CONVERTIBLE PREFERRED STOCK, $0.00001 par valueNo shares authorized, issued, and outstanding as of December 31, 2025. 59,669,221 shares authorized and 56,054,893 shares issued and outstanding with a liquidation preference of $1,202,631 as of December 31, 2024.
$0
$1.2B
$1.2B
$1.1B
Preferred stock, $0.00001 par value10,000,000 shares authorized, no shares issued and outstanding as of December 31, 2025. No shares authorized, issued and outstanding as of December 31, 2024.
$0
$0
Common stock
$0
Additional paid-in capital
$1.8B
$109.4M
Accumulated other comprehensive income (loss)
$7.7M
-$1.6M
Accumulated deficit
-$1.2B
-$1.1B
Total stockholders equity (deficit) attributable to stockholders of Via
$627.7M
-$987.1M
Noncontrolling interest
$0
-$763.0K
Total stockholders equity (deficit)
$627.7M
-$987.9M
-$918.6M
-$824.6M
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS EQUITY (DEFICIT)
$733.1M
$378.8M
Accounts receivable allowance
$24.0K
$127.0K
Convertible preferred stock, par value (in usd per share)
$0.00
$0.00
Convertible preferred stock, authorized (in shares)
0 shares
59.7M shares
Convertible preferred stock, shares issued (in shares)
0 shares
56.1M shares
Convertible preferred stock, shares outstanding (in shares)
Accounts receivablenet of allowance of $41 and $127 as of December 31, 2025 and December 31, 2024, respectively
$81.6M
$73.8M
Prepaid expenses and other current assets
$17.1M
$11.5M
Total current assets
$469.6M
$163.2M
Restricted cash and cash equivalents
$1.2M
$1.1M
Property and equipmentnet
$13.4M
$11.2M
Operating lease right-of-use assets
$18.3M
$15.2M
Deferred tax assets
$529.0K
$401.0K
Intangible assetsnet
$36.0M
$26.3M
Goodwill
$192.3M
$160.1M
$161.8M
Other noncurrent assets
$1.8M
$1.2M
Total noncurrent assets
$263.5M
$215.6M
TOTAL ASSETS
$733.1M
$378.8M
Accounts payable
$4.4M
$3.9M
Accrued expenses and other current liabilities
$24.9M
$19.3M
Operating lease liabilities
$9.7M
$8.3M
Deferred revenue
$26.9M
$22.6M
Insurance payables
$15.1M
$12.2M
Accrued compensation and benefits
$13.1M
$10.2M
Total current liabilities
$94.2M
$76.5M
Operating lease liabilities
$9.4M
$7.3M
Line of credit
$0
$35.0M
Convertible notes
$0
$32.0M
Derivatives liability
$0
$18.8M
Deferred revenue
$1.7M
$1.9M
Total noncurrent liabilities
$11.1M
$95.0M
Total liabilities
$105.4M
$171.6M
CONVERTIBLE PREFERRED STOCK, $0.00001 par valueNo shares authorized, issued, and outstanding as of December 31, 2025. 59,669,221 shares authorized and 56,054,893 shares issued and outstanding with a liquidation preference of $1,202,631 as of December 31, 2024.
$0
$1.2B
$1.2B
$1.1B
Preferred stock, $0.00001 par value10,000,000 shares authorized, no shares issued and outstanding as of December 31, 2025. No shares authorized, issued and outstanding as of December 31, 2024.
$0
$0
Common stock
$0
Additional paid-in capital
$1.8B
$109.4M
Accumulated other comprehensive income (loss)
$7.7M
-$1.6M
Accumulated deficit
-$1.2B
-$1.1B
Total stockholders equity (deficit) attributable to stockholders of Via
$627.7M
-$987.1M
Noncontrolling interest
$0
-$763.0K
Total stockholders equity (deficit)
$627.7M
-$987.9M
-$918.6M
-$824.6M
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS EQUITY (DEFICIT)
$733.1M
$378.8M
Accounts receivable allowance
$24.0K
$127.0K
Convertible preferred stock, par value (in usd per share)
$0.00
$0.00
Convertible preferred stock, authorized (in shares)
0 shares
59.7M shares
Convertible preferred stock, shares issued (in shares)
0 shares
56.1M shares
Convertible preferred stock, shares outstanding (in shares)
Via sits at the top of its group. 54 entities, 10 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Via
Daniel RamotFiled SCHEDULE 13G on Via, latest Nov 14, 2025
Arnon DinurFiled SCHEDULE 13G on Via, latest Nov 13, 2025
N.v. ExorFiled SCHEDULE 13G on Via, latest Nov 13, 2025
Aero Downtowner, LLC Subsidiary · Florida, United States
Aspen Downtowner Group LLC Subsidiary · Florida, United States
Basalt Downtowner, LLC Subsidiary · Florida, United States
Big Sky Downtowner, LLC Subsidiary · Florida, United States
Carbondale Downtowner, LLC Subsidiary · Florida, United States
CB Downtowner, LLC Subsidiary · Florida, United States
Citymapper Limited Subsidiary · United Kingdom
Crosby Street Transit LLC Subsidiary · Delaware, United States
Downtowner App, LLC Subsidiary · Florida, United States
Downtowner Transportation, LLC Subsidiary · Delaware, United States
Empire Pass Downtowner, LLC Subsidiary · Florida, United States
Flatiron Transit LLC Subsidiary · Delaware, United States
Glacier Point Transit ULC Subsidiary · Alberta, Canada
Glenwood Downtowner, LLC Subsidiary · Florida, United States
Great Lakes Transit ULC Subsidiary · Alberta, Canada
Greenpoint Transit LLC Subsidiary · Delaware, United States
Idaho Falls Downtowner, LLC Subsidiary · Florida, United States
Jackson Downtowner, LLC Subsidiary · Florida, United States
Kempsford Transport UK Ltd. Subsidiary · United Kingdom
Kimball Circulator, LLC Subsidiary · Florida, United States
Leadville Downtowner, LLC Subsidiary · Florida, United States
Moab Downtowner, LLC Subsidiary · Florida, United States
Montbello Downtowner, LLC Subsidiary · Florida, United States
NC Downtowner, LLC Subsidiary · Florida, United States
NoMad Transit LLC Subsidiary · Delaware, United States
and 28 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Via reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our corporate headquarters are located in New York, New York; it consists of approximately 38,000 square feet of space under a lease that expires on November 14, 2026. Our other leased facilities in the United States are in California, Indiana, Louisiana, North Carolina, Ohio, Texas, Washington, and Wisconsin; as well as internationally in France, Germany, Israel, the Netherlands, and the United Kingdom. We lease all of our facilities and do not own any real property.
We believe that our facilities are suitable to meet our current needs, and that suitable additional or alternative space will be available as needed to accommodate any growth to support new employees or new geographic markets.
Daniel Ramot and Oren Shoval co-founded Via in 2012. The company began as a ridesharing service on New York's Upper East Side before expanding citywide. Via used dynamic routing to group riders more efficiently, matching each rider with passengers heading in the same direction, and directing riders to virtual bus stops to meet their ride. Eventually the consumer business expanded to Washington D.C., Chicago, London, and Amsterdam.
Shift to public transit software
In 2017, the company began offering its software and operational support to municipalities and transit agencies. Partners could buy Via’s software to use as their own white labeled transportation service, or they could have Via handle operations as well, including vehicle fleets, drivers, and on-the-ground management and support staff.
In April 2019, Via worked with King County Metro and Sound Transit to provide last mile transportation to five Sound Transit Link light rail stations in Seattle. In 2023, Via took over operations and software for all of the agency’s on-demand transit services.
In May 2020, Via and Transport for Wales launched fflecsi, a demand-responsive service operating across urban, rural, an suburban areas in Wales.
In October 2020, Via acquired Fleetonomy, an Israeli startup and logistics company. That same year, Via also grew through organic product development by providing software for operating paratransit, and later for fixed-route bus scheduling.
Growth and public listing
After its expansion into a broader transit-tech company, Via continued to grow through acquisitions. In 2021, through its Remix acquisition, Via expanded into city mapping and transportation planning.
In 2023, Via acquired Citymapper, a journey-planning app with more than 50 million users in more than 400 cities. Via and Citymapper have worked with municipal governments and transit agencies to adapt the app to fit local needs, with city branding, disruption messaging, and in the case of the 2024 Paris Olympics, specialized routing for event management.
In August 2025, Via introduced Via Intelligence, its vertical AI platform, which includes real-time dynamic rerouting, predictive runtimes, and ridership modeling. It is used by cities to pre-test changes to physical bus routes.
Read the full text
Via transitioned to a public company in September 2025, listing on the New York Stock Exchange under the symbol VIA with an initial public offering of $493 million. The company was valued at $3.65 billion. At the end of 2025, the company had 832 customers in more than 30 countries.
In December 2025, Via acquired Downtowner, a transportation technology company that provides demand-responsive transit software for seasonal and geographically complex communities.
Demand-responsive transit is a form of shared public transport for groups traveling where vehicles alter their routes each journey based on particular transport demand, without using a fixed route or timetabled journeys.
Microtransit
Microtransit is tech-enabled shared transportation where routing algorithms use real-time, on-the-ground information to group passengers into shared rides. Routes are dynamic; “schedules” shift based on rider demand; and vehicles range in size from vans to shuttles, or buses, depending on what’s needed for the system.
Paratransit
Paratransit is accessible, door-to-door transportation for people with disabilities, typically delivered by vans or minibuses. In the United States, the ADA mandates that paratransit is offered within ¾ miles of any fixed-route bus line or train station. Via’s paratransit software can improve paratransit for both riders and operators by increasing on-time performance, reducing reliance on manual scheduling, and lowering overall cost-per-trip.
Transit consulting
Via has an in-house consulting practice, Via Strategies, that specializes in transit planning for tech-enabled and multimodal transit networks. Via Strategies works with city governments, transit agencies, state departments of transportation, and other transit clients on bus network redesigns, feasibility studies, and microtransit planning.
Read the full text
Corporate, health, and student transportation
Using microtransit technology, Via operates student and employee shuttles at universities and on corporate campuses around the world. Clients include Harvard University, Northwestern University, LinkedIn, Google, and BASF.
Via created a fully integrated and customizable software suite for student transportation, with route planning, a central operations console for administrators, and applications for caregivers, drivers, and educators. The software includes features like real-time bus tracking, continuously updated ETAs, and configurable alerts to help track users.
Via’s software supports non-emergency medical transportation, often with the same fleet of vehicles already in use for paratransit or microtransit services. Clients are transit agencies, city governments, and hospital systems.
Vehicles
Via operates a vehicle-agnostic platform so its technology can work with any type of vehicle fleet, from cars and minivans to shuttle buses, cutaways, large city buses, and school buses. Via services frequently include wheelchair accessible vehicles, electric vehicles, and autonomous vehicles. In partnership with May Mobility, Via has operated AV public transit services in cities such as Arlington, Texas, Ann Arbor, Michigan, Grand Rapids, Minnesota, and Miami, Florida.
May 12, 2026Reported quarterly or annual results28
Feb 27, 2026Reported quarterly or annual results29
Nov 13, 2025Reported quarterly or annual results31
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
73 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 7 major events, 33 insider forms, 4 large holders, 1 private raises, 24 other. The latest 20:
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
Where the company's money came from, by calendar year: private offerings filed with the SEC,
federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA.
Each bar links to the records below.
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Jul 29, 2026Raised $5,400 in a private offering of securities24Form D: $216,000 offered in allForm D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
Class A common stock, par value $0.00001 per share
VIA
New York Stock Exchange
From the cover page of the 10-K filed Mar 6, 2026 (Section 12(b) of the Exchange Act).13
Risk factors and legal proceedings
The risks Via names in Item 1A of its 10-K filed Mar 6, 2026: 64 risks under these headings, as written.13
Risks Relating to our Business and Industry
We have a history of net losses and we may not be able to achieve or maintain profitability in the future.
Our rapid growth and financial performance in recent periods may not be indicative of future performance. If we fail to grow at the rate we currently expect, we may not be able to achieve and maintain profitability, which would adversely affect our financial results and future prospects.
Because a significant portion of our business depends on contracting with government entities and other heavily regulated organizations, we face a number of challenges and risks unique to such business.
Increases in the cost of fuel, vehicle supply and labor related to inflation or other operational factors could adversely affect our business, financial condition, and results of operations.
Natural disasters, public health crises, economic downturns, government shutdowns or other unexpected geopolitical events could adversely affect our business, financial condition, and results of operations.
Our compliance systems and controls cannot guarantee that we comply fully with all applicable laws and regulations, and actions by regulatory authorities or changes in applicable laws and regulations in the jurisdictions in which we operate could have a material adverse effect on our business, results of operations, and financial condition.
We may fail to accurately predict the rate of customer contract renewals or the long-term revenue from our customer contracts.
If our customers fail to cost-effectively attract new riders or increase utilization by existing riders, our business, financial condition, and results of operations could be adversely affected.
If we fail to effectively price our bids for competitive procurements, our business, financial condition, and results of operations could be adversely affected.
If we are unable to manage the risks presented by our international operations, our business, financial condition, and results of operations may be adversely impacted.
We have large contracts with some of our customers and may continue to grow such contracts and win large contracts with new customers. The loss of one or more of such large customers could slow the growth rate of our revenues or cause our revenues to decline.
The other 53 risks
We may encounter implementation challenges, including in ensuring customers are trained and prepared to utilize our software.
Our industry is highly competitive and we face pressure from existing and new companies. If we are unable to compete effectively in our industry, our business, results of operations, and financial prospects may be adversely impacted.
We have a limited operating history with respect to certain of our transportation verticals and are still building out certain of our software applications and features.
If we are unable to successfully develop and deploy new software and technology applications and features for our platform (including those incorporating the latest advances in AI and updating those features timely), we may fail to retain and attract customers and our business, financial condition, and results of operations could be adversely affected.
Our sales efforts involve considerable time and expense and our sales cycle can be long and unpredictable.
Our continuously evolving business makes it difficult to evaluate our future prospects and the risks and challenges we may encounter.
Geopolitical conditions in Israel and throughout the Middle East may adversely affect our engineering operations and our research and development efforts, which could lead to a decrease in revenues.
We have regular interactions with governmental officials in the ordinary course of business and are subject to anti-corruption laws and other anti-bribery and anti-kickback laws and regulations.
Our platform enables transportation that serves vulnerable or specialized populations (including paratransit, NEMT, and school transport), which may expose us to increased regulatory requirements, increased regulatory scrutiny, and increased liability. Any actual or perceived failure by us or our customers to comply with such regulatory requirements could adversely affect our business, financial condition, and results of operations.
We are subject to laws and regulations related to compliance with trade and economic sanctions that could impair our ability to compete in international markets in which our products and services may not be sold or subject us to liability if we violate these laws and regulations.
Our business may be affected by sanctions and export controls targeting Russia.
We may expand our platform and pursue initiatives, including electric vehicle partnerships, autonomous vehicle partnerships, logistics, and advertising, which may not be successful.
If we are unable to make strategic acquisitions and investments or successfully integrate them into our business, our business, financial condition, and results of operations could be adversely affected.
We could be subject to claims from passengers, drivers or third parties that are harmed while our software is in use, which could adversely affect our business, reputation, brand, financial condition, and results of operations.
We often rely on third-party providers for customer support, and any difficulties in these arrangements could adversely impact our business, financial condition, and results of operations.
We rely on third-party insurance policies, self-insured retentions, and deductibles to insure our operations-related risks. If our insurance coverage is insufficient for the needs of our business or our insurance providers are unable to meet their obligations, we may not be able to mitigate the risks facing our business, which could adversely affect our business, financial condition, and results of operations.
Our workforce and operations have grown substantially and we expect that they will continue to do so using different labor models. If we are unable to effectively manage that growth, our reputation and brand, business, financial condition, and results of operations will be adversely affected.
Our business depends on hiring and retaining high-quality personnel, and attrition or an inability to continue hiring high-quality personnel, or unsuccessful succession planning could adversely affect our business, financial condition, and results of operations.
Our company culture has contributed to our success and if we cannot maintain this culture as we grow, our business, financial condition, and results of operations could be harmed.
Our reputation and brand are important to our success, and if we are not able to continue developing our reputation and brand, our business, financial condition, and results of operations could be adversely affected.
We may require additional capital to support the growth of our business, and this capital might not be available on reasonable terms or at all.
Changes in global and U.S. tax legislation may adversely affect our business, financial condition, and results of operations.
Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
Increased audit activity by federal, state, local and foreign tax authorities could result in additional tax liability.
Our business, financial condition, and results of operations may be adversely affected by changes in accounting principles.
We are exposed to fluctuations in currency exchange rates and interest rates.
Because our revenue is recognized over the term of the contract, downturns or upturns in our business may not be reflected in our results of operations until future periods.
In services where we provide tech-enabled services that include contracting with independent contractor driver partners, our business would be adversely affected if they were classified as employees.
Our operations can be seasonal, and our financial performance in certain periods may not be indicative of, or comparable to, our financial performance in subsequent periods.
Risks Relating to our Intellectual Property, Data, and Cybersecurity
Changes in domestic and international laws or regulations relating to data privacy, data security, data protection, or the collection, use, protection, disclosure, or transfer of personal data, or any actual or perceived failure by us or our vendors to comply with such laws and regulations or any other related obligations, including contractual obligations, could result in significant liability or reputational harm and adversely affect our business, financial condition, and results of operations.
If we, our customers, or our third-party providers experience a cybersecurity or data privacy incident or other unauthorized, unlawful, or improper access to, use of, or destruction of, our proprietary or confidential data, including personal data, or that of drivers, passengers, and our customers, we may face loss of revenue, harm to our brand, business disruption, and significant liabilities.
System failures and resulting interruptions in the availability of our applications or our software could adversely affect our business, financial condition, and results of operations as well as damage our reputation and result in a loss of customers, drivers, and riders.
Our software is highly technical, and any undetected errors could adversely affect our business, reputation, brand, financial condition, and results of operations.
Claims by others that we infringed their proprietary technology or other intellectual property rights could adversely affect our business, reputation, brand, financial condition, and results of operations.
Failure to protect or enforce our intellectual property rights, or bring claims that others have infringed our proprietary technology or other intellectual property rights could harm our reputation, business, financial condition, and results of operations.
Our business depends upon the interoperability of our software across devices and operating systems that we do not control.
We are incorporating AI technologies into some of our products and processes. These technologies may present business, compliance, and reputational risks.
The regulatory framework for AI and ML technology is rapidly evolving, and many regulatory bodies and federal, state, and foreign governments have globally introduced or are currently considering new laws and regulations relating to such technology. As a result, implementation standards and enforcement practices are also likely to remain uncertain for the foreseeable future, and we cannot determine the impact future laws, regulations, or standards may have on our business, or how best to respond to them in future.
The successful operation of our business depends upon the performance and reliability of Internet, mobile, and other infrastructures that are not under our control.
We rely on third-party service providers for services, hosting, payment processing, data centers, and other aspects of our technology infrastructure. Any service disruptions or delays could adversely impact our business.
Our use of third-party open-source software could adversely affect our ability to offer our software and subject us to possible litigation.
Risks Relating to Ownership of our Class A Common Stock
The market price of our Class A common stock may be volatile or may decline steeply or suddenly regardless of our operating performance, and we may not be able to meet investor or analyst expectations.
Our business could be negatively affected as a result of actions of stockholders, activists, or others.
The issuance by us of additional shares of any class of common stock or convertible securities may dilute your ownership and could adversely affect our stock price.
Future sales of shares could cause our stock price to decline.
If securities or industry analysts cease to publish research about us or publish inaccurate or unfavorable research about us, our business, or our market, or if such analysts change their recommendations regarding our Class A common stock adversely, the trading price or trading volume of our Class A common stock could decline.
We have not paid and do not intend to pay cash dividends for the foreseeable future.
As a public company, we are required to maintain proper and effective internal controls over financial reporting, and any failure to maintain the adequacy of these internal controls may adversely affect investor confidence in our company and, as a result, the value of our Class A common stock.
Delaware law and provisions in our Amended and Restated Certificate of Incorporation (“Charter”) and Bylaws could make a merger, tender offer or proxy contest difficult, thereby depressing the trading price of our Class A common stock.
Our Charter provides that the Court of Chancery of the State of Delaware and, to the extent enforceable, the federal district courts of the United States of America are the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees, or agents.
The multi-class structure of our common stock has the effect of concentrating voting power with our Chairman and Chief Executive Officer, which limits your ability to influence the outcome of important transactions.
Operating as a public company requires us to incur significant costs and requires substantial management attention. In addition, key members of our management team have limited experience managing a public company.
We qualify as an emerging growth company within the meaning of the Securities Act, and we utilize certain exemptions available to emerging growth companies, which could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
Legal proceedings
In the ordinary course of our business, we are regularly subject to claims, lawsuits, arbitration proceedings, administrative actions, regulatory inquiries and audits, government investigations, and other legal and regulatory proceedings at the federal, state, and municipal levels, including involving personal injury, property damage, labor and employment, anti-discrimination, commercial disputes, consumer complaints, intellectual property disputes, compliance with regulatory requirements, and other matters, and we may become subject to additional types of claims, lawsuits, arbitration proceedings, administrative actions, government investigations, and legal and regulatory proceedings in the future and as our business grows. Information is provided below regarding the nature and status of our material pending legal matters. There are inherent uncertainties in these legal matters, some of which are beyond management’s control, making the ultimate outcomes difficult to predict. Moreover, management’s views and estimates related to these matters may change in the future, as new events and circumstances arise and the matters continue to develop.
Independent Contractor Classification Matters
At Via, we employ drivers and also engage independent contractor driver partners. We select the appropriate labor model based on the requirements of the service, the needs of our partners and the applicable laws in the jurisdiction in which we are operating. Driver partners are appropriately classified as independent contractors because, among other things, they can choose whether, when, and where to provide services on our platform, are free to provide services on other ridesharing platforms, and own, rent or lease the vehicles they use to perform services on our platform. We go to great lengths to distinguish between employees and independent contractors and ensure that drivers are appropriately classified.
