RTD releases third quarter financial results and agency update
RTD today released financial results for the third quarter (Q3) of fiscal year 2025, ending September 30, 2025. Compared with the same period in 2024, total revenue rose to $321 million, an increase of $41 million or 15%. However, revenue fell short of budget projections by $21 million (6%).
The agency reported a net position decrease of $77 million, which was $47 million lower than prior year but $58 million (43%) better than budget.
Excluding the impact of East Colfax Bus Rapid Transit (BRT) passthrough to the City and County of Denver, Q3 revenue was $298 million, up $18 million or 7% year-over-year. The net position decline, excluding the impact of East Colfax BRT, was $79 million, down $50 million from Q3 2024.
Sales and use tax revenue remained flat at $223 million, missing budget by $11 million (5%). Fare revenue totaled $16 million, down $1 million (6%) from the prior year, despite a 4% increase in ridership to 17.0 million. Notably, 38% of the 622,000 additional riders were attributed to a revised counting method on the A Line.
“Demonstrating good stewardship of taxpayer dollars is paramount for any public servant,” said General Manager and CEO Debra A. Johnson. “In the third quarter of 2025, RTD navigated rising costs and tax revenue that was lower than expected while also recognizing several notable gains that contribute to a welcoming transit environment.”
Agency highlights
Sales for the EcoPass, RTD’s prepaid, annual pass that provides unlimited rides on all buses and trains, rose to 75% of its pre-pandemic level. More employers are offering the pass as an employee benefit, and customers reported that getting to work is the primary reason they arere using transit in a survey from earlier this year.
RTD marked the 35th anniversary of the Americans with Disabilities Act (ADA) on Aug. 1 with a public event. The celebration honored the landmark civil rights law. The agency's Board of Directors also voted to formally rename Civic Center Station as Wade Blank Civic Center Station to honor the late Rev. Wade Blank, a disability rights activist who advocated for equitable transit access locally and nationwide.
RTD selected eight pilot projects in August for funding to support community mobility needs and build upon the almost dozen projects in place since the agency launched the Partnership Program three years ago. RTD has increased fare checks by more than 500% since May 2024 to ensure individuals on light rail and commuter rail trains are customers who have paid fare to board. With approximately 100 Transit Police officers in the department (RTD-PD), the growth of officer staffing has afforded increased patrolling on vehicles and across the system.
The agency reported a 65% monthly average decrease in reports of illicit drug use across its system when compared to the same period in 2024. RTD also was one of five agencies included in a national report evaluating strategies to deter illicit drug use across transit systems. The agency’s light rail on-time performance exceeded 90% in less than a year through rail maintenance completion and focused hiring efforts for operators. Additionally, RTD has grown its homelessness outreach coordinator program from one to four homelessness outreach coordinators as of May 2025 to address the needs of the unhoused individuals across the system to support a welcoming transit environment and transit operations.
RTD named Timothy Tyran as Director of Safety and Environmental Compliance/Chief Safety Officer and Patrick Preusser as Chief Operations Officer.
The agency appointed Brett Feddersen as RTD's first Chief Information and Technology Officer and promoted Greg Smith to Deputy Chief Operations Officer, Bus Operations.