(RTTNews) - Via Transportation, Inc. (VIA), a tech company for transportation solutions, Tuesday reported wider loss for the first quarter compared to the same period last year. However, revenue increased by 29 percent.
Further, the company provided its outlook for the second quarter and fiscal 2026.
Quarterly loss widened 23 percent to $20.15 million from $16.32 million of the last year.
Total operating expenses of this quarter rose to $73.64 million from $57.03 million of the previous year.
However, net loss per share decreased to $0.25 per share from $1.28 per share of the prior year.
Excluding items, net loss declined 56 percent to $3.8 million or $0.05 per share from $8.6 million or $0.68 per share of the same period last year.
Still, revenue increased to $127 million from $98 million of the previous year.
Platform annual run rate revenue also grew 29 percent to $509.74 million from $394.57 million of the prior year.
Looking forward to the next quarter, the company expects platform revenue to be between $132.5 million and $134 million.
Looking forward to the full year, the company anticipates platform revenue to range from $547 million to $550 million.
In pre-market activity, VIA shares were trading at $17.30, up 2.06% on the New York Stock exchange.
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