VerticalScope Q4 Earnings Call Highlights

VerticalScope (TSE:FORA) executives told investors the institution saw sequential betterment crossed cardinal operating and fiscal metrics successful the 4th fourth of 2025, adjacent arsenic year-over-year results remained pressured by changes successful search-driven postulation and weaker programmatic advertizing conditions.

On the company’s Q4 and full-year 2025 net call, CEO Chris Goodridge said the broader integer ecosystem experienced a “significant structural evolution” during 2025 arsenic AI altered however users observe content. He said VerticalScope’s absorption has been connected adapting to that displacement portion gathering what helium called “a unchangeable and resilient instauration from which to grow.”

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Goodridge said Q4 represented a “turning point” due to the fact that the institution posted sequential gains crossed monthly progressive users (MAU), mean gross per idiosyncratic (ARPU), revenue, adjusted EBITDA, and escaped currency flow. MAU accrued to 86 cardinal successful Q4 from 83 cardinal successful Q3, which absorption attributed to a strategy emphasizing high-intent nonstop users portion besides expanding assemblage acquisition.

Revenue successful Q4 totaled $15.4 million, up 5% sequentially but down 22% to 23% year-over-year, according to management. Goodridge said the year-over-year diminution was “almost entirely” owed to little programmatic advertizing versus a beardown Q4 successful the anterior year, erstwhile postulation and CPMs were higher. CFO Vince Bellissimo added that integer advertizing gross declined 29% successful the quarter, driven by little MAU and less programmatic impressions.

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When asked connected the call, absorption clarified that programmatic gross was down 43% year-over-year successful Q4, portion nonstop advertizing declined 1%.

Profitability remained a cardinal theme. VerticalScope reported a 45% adjusted EBITDA borderline successful Q4, generating $6.9 cardinal of adjusted EBITDA. Bellissimo said escaped currency travel conversion was 101% successful the quarter, “primarily driven by anterior play currency taxation refunds deposited successful the quarter,” and 94% excluding refunds.

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Management emphasized stableness and momentum successful nonstop advertizing and continued maturation successful e-commerce. Goodridge said nonstop advertizing was comparatively unchangeable successful Q4, and helium highlighted that nonstop bookings for 2026 were already up “double digits” implicit the anterior twelvemonth arsenic of the extremity of February. He besides said the institution won caller mandates with security and telecommunications customers successful some the U.S. and Canada.