Updated
The most significant concentration Via Transportation discloses is government entities, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Via Transportation’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Contracts with state, local, and foreign governments and government agencies (including resellers to these entities) accounted for over 90% of our total revenues for each of the years ended December 31, 2025 and 2024.'”
Via Transportation's concentration profile is defined by a single, high-share dependency on the public sector: contracts with state, local, and foreign governments and government agencies, including resellers to these entities, accounted for over 90% of total revenues in each of the years ended December 31, 2025 and 2024. This is a high-share concentration, and its mixed character reflects two forces pulling in different directions — a structural feature of the business model, since a transit-technology provider naturally sells to government transit authorities, combined with an idiosyncratic dependency on the budgeting, procurement, and renewal cycles of individual government counterparties. Because this figure has held steady across two consecutive fiscal years, it does not appear to be a one-time anomaly but rather the ongoing shape of Via's revenue base. With no other customer, geographic, or supplier concentration disclosed, government-sector dependency is effectively the entire concentration story: a shift in public transit funding priorities, a slowdown in government procurement, or the loss of even a few large municipal or foreign government contracts could disproportionately affect results, given how little of the revenue base sits outside this channel.
For the engine’s reasoning on VIA’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ADSK | Autodesk, Inc. | 1 | 1 | 1 | 3 |
| ADEA | Adeia Inc. | 1 | 0 | 0 | 1 |
| VIA● | Via Transportation, Inc. | 1 | 0 | 0 | 1 |
| AGYS | Agilysys, Inc. | 0 | 2 | 0 | 2 |
| ADBE | Adobe Inc. | 0 | 0 | 0 | 0 |
| ADP | Automatic Data Processing, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.