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VerticalScope Holdings, Inc. (TSE:FORA)
TSX:FORA
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.15Last Year’s EPS
-0.15Same Quarter Last Year
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call described a company at an inflection: material year-over-year top-line pressure driven by programmatic ad declines and search traffic shifts contrasts with clear sequential improvement in KPIs, strong adjusted EBITDA margins, exceptional free cash flow conversion, robust liquidity and early, high-margin AI products (AudienceEngine, Fora Frank) that are already contributing. Management emphasizes disciplined capital allocation, continued M&A focus, and AI-enabled operating leverage. Given the sizable YoY revenue headwinds but offset by strong profitability, cash generation and demonstrable early AI traction, the tone is cautiously constructive with execution and financial flexibility positioning the company to translate product momentum into growth later in 2026.Company Guidance
Sequential MAU Growth
Monthly active users (MAU) reached 86 million in Q4, up from 83 million in Q3 (sequential increase of ~3.6%), demonstrating sequential user stability and recovery momentum.
Quarterly Revenue Improvement (Sequential)
Revenue for Q4 was $15.4 million, improving 5% sequentially quarter-over-quarter, signaling a turning point after earlier traffic shifts.
Strong Profitability and Cash Conversion
Q4 adjusted EBITDA margin was 45% with $6.9 million adjusted EBITDA; Q4 free cash flow conversion was 101% (driven by prior-period tax refunds) and 94% excluding refunds. Full-year adjusted EBITDA was $21.1 million with 94% adjusted EBITDA-to-FCF conversion and free cash flow of $19.7 million.
Robust Liquidity and Deleveraging
Exited 2025 with $16.4 million in unrestricted cash, $72 million total liquidity (including $56 million available on the revolving facility), net debt of $28 million and a leverage ratio of 1.4x, providing capital optionality for growth and M&A.
E-commerce Momentum
E-commerce revenue grew 21% in Q4 (third straight quarter of growth), supported by acquisitions (e.g., Ritual Technologies) and AI product initiatives aimed at commerce expansion.
AudienceEngine Early-Stage Traction
AudienceEngine (AI-driven audience acquisition/monetization) launched beta in Q4 and reached a $1.4 million annualized EBITDA run rate in January, with management targeting roughly 2x that run rate by end of Q2 — described as a high-margin growth lever.
AI Product Engagement Gains (Fora Frank)
AI community assistant 'Fora Frank' increased posting rates for new users by close to 40% when received/applied, indicating improved engagement and retention from AI features.
Operational Efficiency and Cost Discipline
Operating expenses in Q4 were $16.9 million (down 2% YoY); adjusted for noncash items, operating expenses were down 11% YoY due to headcount reductions and lower discretionary spend. Management expects further cost leverage via AI-driven automation.
Active and Disciplined M&A Execution
Completed 2 tuck-in acquisitions in Q4 (6 total in 2025) aligned to enthusiast vertical strategy; management emphasizes disciplined, accretive M&A to deepen user connections and commerce.
TSE:FORA Earnings History
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 |
|---|---|---|---|
Mar 03, 2026 | C$2.80 | C$3.17 | +13.21% |
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% |
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 May 12, 2026, After Close (Confirmed).
What is VerticalScope Holdings, Inc. (TSE:FORA) earnings time?
VerticalScope Holdings, Inc. (TSE:FORA) earnings time is at May 12, 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 2026 (Q1) is -0.15.