Dec. 24 at 10:28 AM
$VIA "Bleecker Street Research published on Via Transportation, a public transit technology company. Bleecker Street called Via “a low-margin services contractor in a brutal industry masquerading as a SaaS company” and highlighted that almost all the company’s revenue “is tied to service hours, driver hours, and vehicle utilization - not software licenses.” Bleecker Street noted that some customers have renegotiated pricing or migrated to competitors and Bleecker Street alleged the company inflates its financials “by booking large upfront implementation fees” and “[excluding] insurance from cost of revenue, which inflates reported gross margins.”
Of course, this "Bleecker Street Research" is a group of shorters.
