Welcome to our dedicated page for Via Transportation news (Ticker: VIA), a resource for investors and traders seeking the latest updates and insights on Via Transportation stock.
Via Transportation, Inc. (NYSE: VIA) is a technology company focused on software and technology-enabled services for public transit systems, and its news flow reflects this focus. Company announcements often highlight how Via’s platform is used by cities and transit agencies to transform public transportation into dynamic, data- and demand-based networks that replace fragmented legacy systems and consolidate operations.
Investors and observers following VIA stock can expect news related to quarterly and annual financial results, including revenue trends, Platform Annual Run-Rate Revenue, customer count, and non-GAAP measures such as Adjusted Gross Profit and Adjusted EBITDA. Via regularly issues press releases about its earnings and furnishes these releases to the Securities and Exchange Commission on Form 8-K, providing updates on its operating performance and outlook.
Via’s news also covers corporate development activity, such as acquisitions and partnerships. For example, the company has announced the completion of its acquisition of Downtowner Transportation LLC, a transportation technology company focused on Destination Cities, and has referenced prior acquisitions of Remix and Citymapper. These items provide insight into how Via expands its platform capabilities and data assets. Strategic partnerships, such as its collaboration with Waymo to integrate autonomous ride-hailing services into public transit networks, are another recurring theme in Via’s news.
Legal and intellectual property developments may also appear in the news feed. Via has reported on patent litigation outcomes involving its virtual bus stop technology and microtransit patents, including court decisions awarding ongoing royalties on certain infringing products. Such updates shed light on the company’s efforts to protect and monetize its intellectual property.
By reviewing Via’s news page, readers can track financial announcements, M&A activity, partnerships with other transportation technology providers, and legal milestones that relate to the company’s public transit software and services. Bookmarking this page can help investors and industry participants monitor how Via’s platform and strategy evolve over time.
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Via Renewables is set to present its first quarter 2023 financial results on May 4, 2023, at 10:00 AM Central via a conference call and webcast. Investors can access the live session through the Events & Presentations section on their Investor Relations website, with a replay available for twelve months post-event. Founded in 1999 and headquartered in Houston, Texas, Via Renewables provides competitive energy services, operating in 20 states and serving 103 utility territories. The company offers various energy solutions, including green alternatives, to its residential and commercial customers.
Via Renewables (NASDAQ: VIA, VIASP) announced on April 19, 2023, the temporary suspension of its quarterly cash dividend on common stock to enhance financial flexibility amidst market volatility. This decision aims to strengthen the company’s balance sheet and support customer growth.
The CEO, Keith Maxwell, expressed confidence in the company’s future and the commitment to reinstating dividends when market conditions permit. Additionally, the Board declared a quarterly cash dividend of $0.73989 per share on the Series A Preferred Stock, to be paid on July 17, 2023 to shareholders on record as of July 1, 2023.
Via Renewables (NASDAQ:VIA, VIASP) reported its financial results for 2022, showing a net income of $11.2 million, a significant turnaround from a net loss of $(5.4) million in 2021. The company's gross profit increased to $103.4 million, while adjusted EBITDA fell to $51.8 million from $80.7 million. In Q4, the company faced a net loss of $(27.5) million mainly due to a $37.9 million mark-to-market loss on hedges. Despite the challenges, liquidity stood strong at $76.9 million. The company is optimistic about growth in 2023, citing competitive offerings and opportunities from recent utility rate hikes.
Via Renewables announced on March 20, 2023, that shareholders approved a reverse stock split of its Class A and Class B common stocks at a ratio between 1-for-2 and 1-for-5. The reverse stock split will be effective on March 22, 2023, with trading to occur under a new CUSIP number. No fractional shares will be issued; fractional holdings will be rounded up. The number of authorized shares remains unchanged with 120 million Class A and 60 million Class B shares. For further details, see the definitive proxy statement filed with the SEC on February 27, 2023.
Via Renewables (NASDAQ:VIA, VIASP) announced preliminary unaudited financial results for the year ending December 31, 2022, anticipating a $(27.5) million net loss and $12.6 million in adjusted EBITDA for Q4. The company expects a total net income of $11.2 million and $51.8 million in adjusted EBITDA for the full year. Despite facing high commodity prices, Via acquired 18,700 RCEs in Florida's gas market. However, it plans to file a Notification of Late Filing on Form 12b-25 with the SEC due to a delay in submitting its Form 10-K, citing material weaknesses in financial controls.
Via Renewables (NASDAQ:VIA, VIASP) has announced a rescheduling of its fourth quarter and full year 2022 earnings conference call, initially planned for March 1, 2023. This delay is due to the ongoing finalization of the Company's Form 10-K for the year ended December 31, 2022. The company aims to ensure an accurate calculation of deferred tax assets and liabilities and their impact on income tax expense. Although there is a delay, Via Renewables does not anticipate any adjustments to its previously expected Adjusted EBITDA, Gross Profit, or Retail Gross Margin for 2022 or prior fiscal years.