VIA NDR Recap: Will Seem Obvious in Hindsight

Research evidence excerpt

VIA NDR Recap: Will Seem Obvious in Hindsight

June 16, 2026

John DiFucci john.difucci@guggenheimpartners.com VIA NDR Recap: Will Seem Obvious in Hindsight

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Blake Musumano Key Message: We hosted investor meetings in Boston with Via CEO Daniel Ramot and

blake.musumano@guggenheimpartners.com CFO Clara Fain. While there was nothing new disclosed, we believe investors will find the

212 518 9468 following highlights of interest. Investors seem to better understand the nuances of Via’s

Tamjid Chowdhury complete platform solution that enables the consumption of Software with associated

tamjid.chowdhury@guggenheimpartners.com services, which eases the adoption and delivery of the technology to local government

212 823 6739 customers. Via is one of the rare Software instances still exhibiting hyper growth rates,

that potentially could accelerate into 2027, as the qualified pipeline doubled y/y in 1Q27

to $650M of New ARR (not including renewals). Given the relatively high predictability

of Via’s revenue stream (including new business) due to the intimate relationship it has

with customers (often helping to write RFPs for its unique solutions), it really comes down VIA BUY to execution at this time. Yes, Via is a Software Application company, but it utilizes AI

Via Transportation, Inc. itself and provides deep expertise in a regulated environment that’s not likely to be totally Sector: Software

disintermediated by AI, and AI enhancements are more likely to be done by VIA than

Company Update alternatives. In addition, we believe there is a hangover of misinformation in the market

that will dissipate with time. See our report “VIA: Much More Opportunity Than Risk” dated Share Price $14.19

January 27.