Via Transportation is a technology-driven provider of digital transit solutions, operating at scale with a presence in the United States, Germany, and other international markets.The company generates revenue by providing software and operational services to cities, transit authorities, school districts, universities, corporations, and healthcare organizations, enabling them to plan and manage end-to-end transit networks.The new position in Via represents 10.8% of Koch’s 13F assets under management as of Se ...

TotalEnergies currently holds nearly 19% in AGEL through two subsidiaries — 15.58% via TotalEnergies Renewables Indian “TotalEnergies had picked up its stake in AGEL in 2021 for around $2.5 billion, and that holding is now valued at close to $8 billion. They are looking to realise part of those gains,” an industry executive aware of the discussions told The Economic Times. At AGEL’s current market capitalisation of Rs 1.69 lakh crore, a 6% sale could bring in around Rs 10,200 crore (about USD 1.14 billion) ...

Financial Data and Key Metrics Changes - In Q3 2025, the company's revenue grew by 32% year-over-year, with a platform annual revenue run rate of $439 million [9][32] - The number of customers on the platform increased to 713, representing an 11% year-over-year growth [9][34] - Adjusted gross margin improved to 39.6% compared to 39.2% in Q3 2024 [39] Business Line Data and Key Metrics Changes - Revenue from government customers increased by $26.5 million, or 34% year-over-year [9] - Revenue from U.S. customers rose by $23.1 million, or 42% year-over-year [10] - The student transportation vertical saw more than two times growth in the number of customers subscribing to solutions [26] Market Data and Key Metrics Changes - The serviceable addressable market in North America and Western Europe is estimated at $82 billion, with the company capturing less than 1% of this market [11] - The company has identified approximately 63,000 potential customers in North America and Europe [11] Company Strategy and Development Direction - The company aims to broaden its platform, deepen its vertical stack, and innovate its go-to-market strategy to capture more market share [25] - A new strategic partnership with Waymo aims to advance the use of autonomous vehicles in public transit [30] - The company is focused on expanding its product capabilities and features, particularly in the student transportation vertical [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to maintain strong performance while transforming the public transit market [44] - The company is well-positioned to capitalize on the digital transformation and AI opportunities in public transit [45] - Management noted that bipartisan political support for public transit funding continues to grow, with an average increase of 4% per year since 2012 [12] Other Important Information - The company has invested over $500 million in R&D, with R&D expenses representing 19.1% of revenue as of Q3 2025 [38] - The company has established a playbook for executing M&A, with successful acquisitions like Remix and Citymapper [39] Q&A Session Summary Question: How would you characterize both the catalyst and barriers in converting more customer opportunities? - Management noted that the primary barrier is the customer's aversion to risk and reluctance to change, but these barriers are starting to come down [49][50] Question: How do you balance growth and investment? - Management focuses on investing in areas with growth potential, particularly in new products and core geographies [52] Question: What was notable about the 24 net new customer additions this quarter? - The growth was driven by strong demand in North America and traction around new products, including the schools product [54] Question: How has the IPO affected customer awareness and interest? - Management observed a positive change in customer reception post-IPO, which is helping to develop the pipeline [62] Question: How does referenceability influence future revenue growth? - Referenceability is key, as existing customers' success stories help in convincing new customers to adopt the platform [70] Question: What is the outlook for the Waymo partnership and autonomous vehicles? - Management sees significant opportunities in autonomous vehicles, particularly in Europe, where government initiatives are pushing for their adoption [74]

Financial Data and Key Metrics Changes - In Q3 2025, the company's revenue grew by 32% year over year, with a platform annual revenue run rate of $439 million [9][29] - The number of customers on the platform increased to 713, representing an 11% year-over-year growth [9][31] - Adjusted gross margin improved to 39.6%, compared to 39.2% in Q3 2024 [36] Business Line Data and Key Metrics Changes - Revenue from government customers increased by $26.5 million, or 34% year over year [9] - Revenue from U.S. customers rose by $23.1 million, or 42% year over year [10] - The student transportation vertical saw more than two times growth in the number of customers subscribing to solutions [24] Market Data and Key Metrics Changes - The serviceable addressable market in North America and Western Europe is estimated at $82 billion, with the company capturing less than 1% of this market [11] - The company has identified approximately 63,000 potential customers in North America and Europe, with 713 currently on the platform [11] Company Strategy and Development Direction - The company aims to broaden its platform, deepen its vertical stack, and innovate its go-to-market strategy to capture more market share [23] - A new strategic partnership with Waymo aims to advance the use of autonomous vehicles in public transit [27] - The company is focused on expanding its product capabilities and features, particularly in the schools vertical [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong performance as the company continues to transform the public transit market [40] - The company has not seen any impact from the federal government shutdown, and funding for public transit is expected to continue growing [13][94] - Management highlighted the importance of referenceability and customer success stories in driving new customer acquisitions [66] Other Important Information - The company has invested over $500 million in R&D, with R&D expenses representing 19.1% of revenue as of Q3 2025 [35] - The company is committed to achieving an adjusted gross margin of 50% in the medium to long term [36] Q&A Session Summary Question: How would you characterize both the catalyst and barriers in converting more of the 63,000 customer opportunities? - Management noted that the primary barrier is the customer's aversion to risk and reluctance to change, but these barriers are starting to come down [45][46] Question: How do you balance growth and investment? - Management emphasized focusing investment on areas with growth potential, particularly in new products and core geographies [49] Question: What was notable about the 24 net new customer additions this quarter? - Management indicated strong demand in North America and traction around new products, including the schools product [51] Question: How much of the sequential customer adds are tied to increasing referenceability? - Management highlighted that referenceability is key, as proof points from existing customers significantly influence new customer decisions [67] Question: What is the impact of COVID-era funding expiring on transit funding priorities? - Management stated that while some funding is expiring, overall transit funding is expected to continue growing, and the company is well-positioned to help customers become more efficient [94]

Via Transportation (NYSE:VIA) Q3 2025 Earnings Call November 13, 2025 08:30 AM ET Speaker4Conference operator today. At this time, I would like to welcome everyone to the Via Third Quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. To ask a question, simply press star on your telephone keypad. To withdraw your question, press star one again. We respectfully request that you limit questions ...

Financial Performance & Growth - The company's annual revenue run-rate reached $439 million[10] - The company experienced a year-over-year (YoY) customer growth of 11%[10] - The company achieved a year-over-year (YoY) revenue growth of 32%[10] - Q4 2025 Platform Revenue guidance is $114.6-$115.1M, representing 25.0% - 25.5% YoY Growth[87] - FY2025 Platform Revenue guidance is $430.0-$430.5M, representing 30.0% - 30.2% YoY Growth[87] Customer Base & Market Opportunity - The company has a total of 713 customers[10, 30] - The company estimates an enormous $82 billion SAM (Serviceable Addressable Market), with current penetration at 1% by customer count and 0.5% by revenue[14] - The company identifies over 62,000 prospective customers in North America and Europe[15] Platform & Innovation - The company operates a category-leading end-to-end platform replacing fragmented legacy systems[23] - The company leverages billions of proprietary data points to bring AI to government[24] Margin & Efficiency - S&M (Sales and Marketing) as a percentage of revenue decreased from 39% to 19%[73] - Adjusted EBITDA margin improved from (17)% to (8)%[84]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36559 Via Renewables, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organi ...

Core Insights - The article highlights the contrasting approaches of Beijing and Delhi in tackling air pollution, with Beijing achieving significant improvements through coordinated reforms while Delhi struggles with fragmented efforts [21]. Group 1: Air Quality Crisis - Delhi is currently experiencing severe air quality issues, with pollution levels categorized as "very poor," reminiscent of past crises in major cities like Beijing [1][2]. - Stubble burning, vehicular emissions, and dust contribute to approximately 12,000 premature deaths annually in Delhi, with a study indicating that 3.8 million deaths in India from 2009 to 2019 were linked to air pollution [2]. Group 2: Beijing's Success - Beijing has implemented a series of top-down reforms and innovative policies, including the establishment of Low Emission Zones (LEZs) and significant reductions in coal consumption, achieving a 30% cut by 2017 [4][5]. - The city has seen a 35% reduction in PM2.5 levels from 2013 to 2017, with average levels dropping from 89.5 to 58 micrograms per cubic meter [9]. - By 2020, electric vehicles accounted for 40% of new sales, supported by subsidies and infrastructure development, contributing to a 20% decrease in respiratory cases [6][9]. Group 3: Monitoring and Reforestation - A nationwide network of 1,500 monitoring stations provides real-time PM2.5 data, enhancing public awareness and engagement through apps like "Blue Sky" [7]. - Reforestation efforts have led to the planting of 100 million trees around Beijing, improving natural air filtration [7]. Group 4: Delhi's Challenges - Delhi's approach to air pollution is characterized by a lack of coordination, relying on multiple agencies and reactive measures, which limits its effectiveness [11][13]. - The 2025 Air Pollution Mitigation Plan includes various initiatives, such as banning end-of-life vehicles and deploying anti-smog technology, but faces challenges from stubble burning and political hurdles [12][13]. Group 5: Cloud Seeding Experiment - Delhi's cloud seeding efforts, aimed at inducing rainfall to wash away pollutants, are still experimental and have shown limited results [17][18]. - Officials emphasize the need for further research and understanding before operationalizing cloud seeding as a solution [19][20].

Core Viewpoint - The ongoing conflict between green energy initiatives, particularly solar farms, and traditional farming practices in rural Britain highlights a cultural divide, with political parties like Reform UK leveraging this tension for electoral gain [1][4][5]. Group 1: Political Dynamics - Sean Matthews, leader of Reform UK in Lincolnshire, opposes the construction of solar farms, indicating a broader political strategy to position the party as a defender of traditional farming against renewable energy initiatives [1][2]. - Reform UK's funding sources, primarily from fossil fuel interests (approximately 92%), suggest a potential conflict of interest in their anti-renewable stance [2]. - The party aims to mobilize rural voters by framing solar energy projects as a threat to traditional farming, despite evidence of farmer support for climate action [4][5]. Group 2: Farmer Sentiment and Climate Change - Research indicates that 80% of UK farmers are concerned about climate change's impact on their livelihoods, with 87% reporting reduced productivity due to extreme weather [5]. - The identity of farmers as food producers is challenged by the push for energy production through solar farms, leading to a conflict between agricultural productivity and renewable energy goals [6][7]. - The narrative that "you can't eat electricity" reflects farmers' concerns about food security being compromised by land conversion for solar energy [7][8]. Group 3: Economic Implications - The transition to solar energy can lead to significant economic disparities, as tenant farmers may lose productive land without compensation, while landowners benefit financially from energy contracts [9][10]. - The principle of a just transition is at stake, as tenant farmers face potential losses while landowners gain lucrative contracts, raising questions about fairness in renewable energy deployment [10][11]. - Effective green policies must ensure that local communities benefit from renewable energy projects to mitigate opposition and foster support [11][12]. Group 4: Community Engagement and Solutions - Initiatives that involve local communities in renewable energy projects, such as Cwm Arian Renewable Energy, demonstrate a model for fairer deployment that can support local economies [12]. - Highlighting the economic benefits of renewable energy, such as reduced energy costs (estimated at £104 billion from wind energy), could help alleviate resistance from the farming community [13]. - The challenge remains to integrate farmers' voices into the green transition, ensuring they are seen as partners rather than obstacles to achieving climate goals [14].

Core Viewpoint - Via Transportation, Inc. (NYSE: VIA) is recommended as a buy due to its significant addressable market and competitive advantages, including an end-to-end solution and improved data capabilities [1]. Company Analysis - The company is positioned well with a strong go-to-market (GTM) strategy and a competitive moat that enhances its scalability and potential for long-term value creation [1]. - The focus is on understanding the core economics of Via, including its competitive advantages, unit economics, and management quality, which are crucial for generating long-term free cash flow [1]. Investment Approach - The investment strategy emphasizes fundamental research, particularly in sectors with strong secular tailwinds, aiming to identify businesses that can scale and unlock substantial terminal value over time [1]. - The analysis aims to provide insights that help investors focus on the factors that drive long-term equity value [1].