Via Transportation, Inc. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator: | |||||||||||||||||
| Net loss | $ | (96,361) | $ | (90,552) | $ | (116,964) | |||||||||||
| less: net loss attributable to non-controlling interest | — | (271) | (278) | ||||||||||||||
| Net loss attributable to common stockholders | $ | (96,361) | $ | (90,281) | $ | (116,686) | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted-average common shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted | 32,949,511 | 12,525,706 | 12,155,670 | ||||||||||||||
| Net loss per share: | |||||||||||||||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (2.92) | $ | (7.21) | $ | (9.60) | |||||||||||
| December 31, 2025 | December 31, 2024 | December 31, 2023 | |||||||||||||||
| Convertible preferred stock | — | 56,054,893 | 56,054,893 | ||||||||||||||
| Warrants to purchase Series E convertible preferred stock | — | 575,295 | 575,295 | ||||||||||||||
| Convertible notes | — | 1,266,092 | — | ||||||||||||||
| Stock options | 9,303,581 | 10,800,927 | 8,521,063 | ||||||||||||||
| RSUs | 2,518,990 | — | — | ||||||||||||||
| PSUs | 2,486,727 | — | — | ||||||||||||||
| Total | 14,309,298 | 68,697,207 | 65,151,251 | ||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.