The earnings call highlighted strong improvements in user engagement, e-commerce growth, and financial metrics like adjusted EBITDA and cash flow. However, challenges were noted in declining programmatic advertising revenue and an overall decrease in total revenue compared to the previous year. Despite these challenges, the company is optimistic about future growth opportunities, particularly in AI-driven initiatives and e-commerce.

Company Guidance

During the Q3 2025 earnings call, VerticalScope Holdings provided guidance highlighting several key metrics. The company reported an average of 83 million monthly active users (MAUs) in Q3, a decline from last year but noted a promising start to Q4 with MAUs surpassing 90 million in October. Revenue for the quarter was $14.7 million, a 17% decrease year-over-year due to a drop in programmatic ad revenue linked to search traffic, while direct advertising saw a 3% increase. E-commerce revenue grew by 40%, largely due to the acquisition of Ritual. The company's ARPU increased by 21% from the previous year, driven by a 10% rise in digital advertising ARPU and a significant 106% increase in e-commerce ARPU. Adjusted EBITDA improved by 45% over the previous quarter, with margins exceeding 40% and a free cash flow conversion rate of 94%. The call emphasized the company's strategic focus on AI integration, direct user engagement, and data licensing opportunities, with an optimistic outlook for sustained growth through these initiatives. The management reaffirmed its full-year guidance, underscoring a disciplined approach to capital allocation and potential M&A activity aimed at enhancing AI capabilities.

Increase in Monthly Active Users (MAU) in Q4

MAUs surpassed 90 million in October, up from 83 million in Q3, with a 60% increase in direct users over the last year.

E-commerce Revenue Growth

E-commerce revenue grew by 40% year-over-year, primarily due to the acquisition of Ritual, with a significant increase in ARPU by 106%.

Adjusted EBITDA Improvement

Adjusted EBITDA improved by 45% over Q2, with margins exceeding 40% and free cash flow conversion growing to 94%.

AI Initiatives and Product Innovations

Introduction and expansion of AI tools such as Fora Frank and AI prospecting tools, leading to increased engagement and operational gains.

Strong Balance Sheet and Liquidity Position

Total liquidity of $68.4 million with a net leverage of 1.24x, providing flexibility for growth and M&A opportunities.

VerticalScope Holdings (TSE:FORA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:FORA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 11, 2026	2025 (Q4)	0.02 / -	-0.042	―	―	―
Nov 05, 2025	2025 (Q3)	-0.03 / -0.03	0.084	-133.33% (-0.11)	―	―
Aug 13, 2025	2025 (Q2)	-0.09 / -0.11	0.028	-500.00% (-0.14)	―	―
May 13, 2025	2025 (Q1)	-0.12 / -0.15	-0.07	-120.00% (-0.08)	―	―
Mar 12, 2025	2024 (Q4)	0.10 / -0.04	0.14	-130.00% (-0.18)	―	―
Nov 12, 2024	2024 (Q3)	0.04 / 0.08	-0.028	400.00% (+0.11)	―	―
Aug 07, 2024	2024 (Q2)	<0.01 / 0.03	-0.14	120.00% (+0.17)	―	―
May 07, 2024	2024 (Q1)	-0.15 / -0.07	-0.295	76.19% (+0.22)	―	―
Mar 13, 2024	2023 (Q4)	-0.01 / 0.14	0.014	900.00% (+0.13)	―	―
Nov 08, 2023	2023 (Q3)	-0.13 / -0.03	-0.393	92.86% (+0.36)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:FORA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 05, 2025	C$3.80	C$3.87	+1.84%
Aug 13, 2025	C$3.50	C$3.43	-2.00%
May 13, 2025	C$4.95	C$4.20	-15.15%
Mar 12, 2025	C$10.90	C$10.10	-7.34%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does VerticalScope Holdings, Inc. (TSE:FORA) report earnings?

VerticalScope Holdings, Inc. (TSE:FORA) is schdueled to report earning on Mar 11, 2026, After Close (Confirmed).

What is VerticalScope Holdings, Inc. (TSE:FORA) earnings time?

VerticalScope Holdings, Inc. (TSE:FORA) earnings time is at Mar 11, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:FORA EPS forecast?

TSE:FORA EPS forecast for the fiscal quarter 2025 (Q4) is 0.02.

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