Verticalscope Holdings, Inc. · TSX:FORA
Verticalscope — Q1 2026 Earnings Presentation
17 slides from Verticalscope's earnings presentation, May 13, 2026
Slide 1: VerticalScope Holdings Inc.
VerticalScope Holdings Inc. September 2025 TSX: FORA This presentation does not provide full disclosure of all material facts relating to VerticalScope Holdings Inc. (the “Company”, “VerticalScope”, “us”, “we” or “our”) or its subordinate voting shares. Recipients should review the Company’s public
Slide 2: Disclaimer
Disclaimer Recipients should rely only on the information contained in the Company’s SEDAR+ Filings. This presentation is qualified in its entirety by reference to, and must be read in conjunction with, the information contained in the SEDAR+ Filings. A recipient is not entitled to rely on parts of
Slide 3: Our Company
Our Users Our Company • 90M MAUs(1) • 69M registered community members⁽²⁾ VerticalScope is a Leading • Enthusiasts, super fans, pros, hobbyists Digital Platform for Enthusiast Communities Our Communities and Acquisition Playbook and Authentic Perspectives • 1,200+ hyper-focused apps, forums, marketp
Slide 4: Everyone Is Passionate About Something
Our Users Everyone Is Passionate About Something Watch Geeks Audio Nerds Motorheads Fitness Obsessed Our Users Are… • Enthusiasts • Super Fans • Experts • Pros • Hobbyists • Armchair Analysts DIYers Deal Junkies Mountain Bikers 4
Slide 5: We Focus on Hyper-Specific Subjects & Niche
Our Communities Mountain Biking BMW Watches Diecast Models Snowblowers We Focus on DIY Toyota White Water Horses Road Biking Hyper-Specific Subjects & Niche Beekeeping Woodworking T-Shirting Saxophones 1,200+ Communities Volvos Harley Davidsons Communities Sailing Deals 2.3+ Billion Posts We believe
Slide 6: Uniquely Positioned to Capitalize on an AI-Centric Internet
UNIQUELY POSITIONED TO CAPITALIZE ON AN AI-CENTRIC INTERNET EXPAND AI-LED DIVERSIFY DIRECT PLATFORM OPPORTUNISTIC REVENUE TRAFFIC INNOVATION & M&A SOURCES CHANNELS SERVICES HIGHLY FCF DEEP USER BASE FORA PLATFORM PROVEN M&A GENERATIVE PLAYBOOK MODEL 69 Million Registered Users with Email 1,200+ Inte
Slide 7: Our Business Model - Highly Targeted Niches + Consumer Intent
Our Business Model - Highly Targeted Niches + Consumer Intent Today’s Revenue Model E-Commerce Commercial Content Commercial Context Trusted Community Targeted Advertising Transactions We focus on topics Consumers come Authentic Enthusiasts Closing the loop & communities that to research perspective
Slide 8: AI-Powered Growth and Engagement
AI-Powered Growth and Engagement AI is Improving UX and Expanding Reach “Fora Frank” is Our AI-Powered Community Assistant Thread / Topic Summaries Enhanced Search Generate concise summaries of long Fora Answers delivers the best content threads or topics, helping users quickly with a better underst
Slide 9: We Acquire Communities to Accelerate Our Growth
We Acquire Communities to Accelerate Our Growth Our Operating Playbook Acquired Forums Growth Independent Communities Accelerated by Performance on Fora • Independently owned by hobbyist founder • Analytics-driven target discovery • Monetization managed as a part-time effort • Target asset-only acqu
Slide 10: How We Generate Consistently Attractive Margins
How We Generate Consistently Attractive Margins 01 User-Generated 02 Volunteer Mods Content & Admins 2B+ posts generated by our community Purpose-built technology and 10,000+ members volunteer moderators efficiently moderate millions of conversations The Fora SaaS 39% Organic 04 TTM Adj. EBITDA 03 P
Slide 11: Revenue Model
Revenue Model Digital Advertising Revenue E-Commerce Revenue Direct Sales and Programmatic Commissions and Video Advertising Subscriptions Marketplaces Branded Content Advertising Referral Payments Direct ad sales to Monetization of display Percentage of sales from User memberships, Monetization of
Slide 12: Strengthening Our Resilient Revenue Model
Strengthening Our Resilient Revenue Model Revenue ARPU ⁽¹⁾ H1 Revenue: $28.1M (-11% YoY), resilient with +16% Quality Growth: H1 ARPU +8% YoY, reflecting stronger e-commerce growth and traction from direct traffic monetization of our direct user base initiatives Expanding revenue across multiple gro
Slide 13: Strong Profitability and Cash Generation
Strong Profitability and Cash Generation Adjusted EBITDA ⁽¹⁾ Free Cash Flow ⁽²⁾ Proven track record of profitability and healthy High Free Cash Flow Conversion (80–90%+) enables Adjusted EBITDA margins reinvestment in growth Strong profitability and cash generation provides the flexibility to fund g
Slide 14: Capital Allocation: M&A and Strengthening Financial Position
Capital Allocation: M&A and Strengthening Financial Position Post IPO Highlights Net Debt Reduction ⁽¹⁾ $110M Net IPO proceeds - June 2021 $114M M&A on over 35 acquisitions $46M Reduction in net debt position ⁽²⁾ All figures in US$ millions (1) Net Debt and Net Leverage as defined by our amended and
Slide 15: 2025 Outlook: Investing for Long-term Growth
2025 Outlook: Investing for Long-term Growth 2025 Recap Strategic Investments H1 Highlights ⁽¹⁾ Direct Traffic $110M ● Revenue: $28.1M (-11% YoY) ● Investing in mobile app, email, and owned channels to diversify traffic sources ● Adjusted EBITDA: $7.9M (28% margin) AI Roadmap ● Free Cash Flow: $6.9M (86
Slide 16: Experienced Leadership Team
Experienced Leadership Team Experienced and Innovative Chris Goodridge Vince Bellissimo Diane Yu Chief Executive Officer Chief Financial Officer Chief Legal Officer Leadership for Our Next Chapter • Strategic leadership transition driving our next phase of growth and innovation • Long history of str
Slide 17: Thank You
THANK YOU 17
VerticalScope Holdings — Q1 2026 Earnings Presentation on 6ix