Via Transportation, Inc.VIA

Via Transportation, Inc. Segments Disclosure

10-KFiled Mar 6, 20262 min read
SEGMENT INFORMATION
The Company is organized into one reportable segment, the Platform segment. In addition, the Company has one legacy operating segment (Legacy segment) that does not meet the thresholds to qualify as a reporting segment. The Legacy segment is solely comprised of one legacy operational contract, which terminated in June 2024. 
The reportable segment was determined based on the manner in which the chief operating decision maker (“CODM”), Via’s chief executive officer, manages the Company’s operations for purposes of allocating resources and evaluating performance. Various factors, including the Company’s organizational and management reporting structure and the nature of the services provided to customers, were considered in determining these operating segments.
The CODM uses the Platform segment net loss to allocate resources (including employees and financial or capital resources) predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a monthly basis when making decisions about allocating capital and personnel, evaluating product pricing and assessing performance.
The following tables provide information about the Company’s revenue and net loss by reportable segment (in thousands):
Year Ended December 31,
202520242023
Revenue
Total segment revenue (Platform)$434,337 $330,841 $237,315 
Other (1)
— 6,789 11,539 
Consolidated revenue$434,337 $337,630 $248,854 
____________
(1)Other revenue consists of revenue from a legacy operational contract in a former operating segment, which terminated in June 2024.
Year Ended December 31,
Significant segment expenses202520242023
Platform revenue$434,337 $330,841 $237,315 
Cost of revenue (1)
(262,537)(201,171)(138,457)
Research and development (1)
(92,352)(88,987)(95,833)
Sales and marketing(67,423)(55,421)(53,662)
General and administrative (1)
(88,641)(69,351)(62,630)
Interest income5,272 2,195 3,599 
Interest expense(7,343)(4,291)(653)
Loss on extinguishment of convertible notes(10,949)— — 
Provision for income taxes(2,521)(1,890)(1,815)
Other segment items (2)
(4,204)(2,670)(3,640)
Platform net loss$(96,361)$(90,745)$(115,776)
_______________
(1)Includes depreciation and amortization expense as follows:
Year Ended December 31,
202520242023
Cost of revenue$3,858 $4,037 $3,696 
Research and development513 794 746 
General and administrative4,158 4,295 3,578 
Total$8,529 $9,126 $8,020 
(2)Other segment items are comprised of other income (loss) which consists primarily of non-cash losses relating to the change in the fair value of warrants to purchase convertible preferred stock and the convertible notes’ embedded derivative feature.
Year Ended December 31,
Reconciliation of net loss202520242023
Platform net loss$(96,361)$(90,745)$(115,776)
Other net income (loss)— 193 (1,188)
Consolidated net loss$(96,361)$(90,552)$(116,964)
The following table presents information about long-lived assets by geographic area as of December 31, 2025 and 2024 (in thousands):
December 31,
2025		December 31,
2024
United States
$19,804 $13,441 
All other countries
11,910 12,941 
Total
$31,714 $26,382 

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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