VerticalScope President COO Chris Goodridge joined Steve Darling from Proactive to share the company’s Q3 2024 financial results, highlighting notable growth and increased engagement. VerticalScope, a technology company operating a cloud-based platform for online communities, reported a 15% rise in revenue, reaching $17.8 million, attributed to a 22% increase in Digital Advertising.
This uptick in advertising revenue stemmed from successful programmatic channel partnerships and a 21% boost in monthly active users (MAU), which hit a record 122 million for the platform. Goodridge noted that Adjusted EBITDA rose by 9% to $7.4 million, achieving a 42% margin. Additionally, free cash flow reached $6.4 million, a 7% improvement, driven by a high conversion rate of 86%.
Earnings per share (EPS) grew to $0.06, marking an $0.08 improvement over the prior year. VerticalScope’s success lies in its vast portfolio of over 1,200 online communities, which fosters genuine user engagement across high-consumer-spending categories.
This authenticity, Laidlaw explained, attracts advertisers and continues to fuel the company's growth, as more users seek trusted insights from its interest-based communities.