Q2 2024 VerticalScope Holdings Inc Earnings Call Transcript
Key Points
- VerticalScope Holdings Inc (VFORF) reported a 14% increase in revenue for Q2 2024, demonstrating strong business performance.
- EBITDA grew by 29% to $7.1 million, showcasing significant operating leverage.
- Monthly active users (MAU) increased by 42%, indicating strong audience growth and engagement.
- The company generated $6.6 million in free cash flow, reflecting a 58% year-over-year increase.
- Programmatic advertising revenue posted a 35% gain, contributing to a 20% growth in overall digital advertising.
- The advertising macro market remains tepid and subdued, affecting overall market recovery.
- E-commerce revenue declined by 16% year-over-year in Q2, although it showed signs of stabilization.
- Direct advertising growth was flat in Q2, with some revenue recognition pushed into Q3.
- Certain historically strong advertising categories, such as insurance, continue to show muted spending levels.
- The company did not sign any large language model (LLM) deals in the quarter, with ongoing discussions but no concrete outcomes.
Hello, everybody, and welcome to the VerticalScope Holdings, Inc., Q2 2024 earnings call. My name is Sam, and I'll be coordinating your call today. (Operator Instructions)
And I would now like to hand you over to your host, Diane Yu, Chief Legal Officer, to begin. So Diane, please go ahead.
Thank you, operator. Good morning, everyone, and welcome to VerticalScope Holdings second-quarter 2024 earnings call. I'm joined by Rob Laidlaw, our Founder, Chair, and Chief Executive Officer; Vince Bellissimo, our Chief Financial Officer; and Chris Goodridge, our President and Chief Operating Officer. We'll begin with commentary on the quarter before opening the floor to questions.
Before we begin, I'd like to remind everyone that today's presentation contains forward-looking information that involves known and unknown risks and uncertainties and other factors that could cause actual events to differ materially from current expectations. These statements should not be read as
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