)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
VerticalScope (FORA) investor relations material
VerticalScope Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 saw stable sequential revenue and improved profitability, with a 17% year-over-year revenue decline due to lower search-driven Programmatic ad revenue.
ARPU grew 21% year-over-year and 9% sequentially, reaching a three-year high, driven by direct sales and e-commerce growth.
Adjusted EBITDA reached $6.2 million, up 45% sequentially, with margin expanding to 42%.
AI initiatives, including the Fora Frank assistant, machine translation, and TollBit integration, are driving engagement, operational efficiency, and data monetization.
The company is actively protecting and monetizing its data assets amid rising AI-driven content demand.
Financial highlights
Q3 revenue was $14.7 million, up 1% sequentially but down 17% year-over-year, mainly due to a 32% drop in MAU from last year's peak.
Programmatic ad revenue fell $4.1 million year-over-year, while direct advertising grew 3% to $4.6 million, now 40% of digital ad revenue.
E-commerce revenue rose 40% year-over-year to $3 million, driven by the Ritual acquisition.
Free cash flow was $5.9 million, up 56% sequentially, a 94% conversion from adjusted EBITDA.
Net loss was $400,000, or $(0.02) per share, compared to net income of $1.2 million a year ago, due to lower revenue and higher non-cash expenses.
Outlook and guidance
No change to full-year guidance published in April 2025.
October saw a rebound in MAU to over 90 million, with all major traffic sources growing.
Continued focus on building cash reserves for future M&A and growth opportunities.
AI initiatives, including Fora Frank and TollBit, are expected to drive future engagement and revenue.
Data licensing revenue outlook?
AI tools impact on sales team efficiency?
M&A focus for larger opportunities?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next VerticalScope earnings date
Q4 202513 Mar, 2026
Next VerticalScope earnings date
Q4 202513 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
VerticalScope Holdings Inc. is a Canadian digital media company that specializes in building and managing online communities and niche content platforms. The company operates a portfolio of websites and forums focused on various topics such as automotive, technology, outdoor sports, and home improvement. VerticalScope’s platform enables users to engage in discussions, share knowledge, and access targeted content, while providing advertisers with opportunities to reach highly engaged audiences. The company is headquartered in Toronto, Canada, and its shares are listed on the TSX.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage