Is it time to sell your VerticalScope stock? Last updated on August 18, 2026 at 5:29pm ADT VerticalScope Holdings' (VerticalScope Holdings Stock Quote, Chart, News, Analysts, Financials TSX:FORA) Q2 results showed signs of progress, with AI investments helping drive traffic and operating efficiency, according to Beacon Securities analyst Gabriel Leung. In an Aug. 14 update, he maintained his "Speculative Buy" rating on VerticalScope and lowered his target to $6.00 from $7. 00. His target is based on seven times EV/EBITDA. "Overall, we believe Q2 showed signs of continued progress and we believe evidence of the company's ability to leverage its AI investments into renewed MAU and engagement growth could act as a key catalyst for the stock," Leung said. VerticalScope reported Q2 revenue of US$13.8-million, down 5% year-over-year but up 20% sequentially. Adjusted EBITDA was US$4.5-million. Leung said the year-over-year revenue decline reflected the tail end of difficult comparisons tied to Google algorithm changes, while the sequential growth reflected seasonality and company initiatives to improve revenue trends. Monthly active users rose to 103-million from 91-million a year earlier and 86-million in Q1. Leung said VerticalScope's AI-enabled user acquisition platform, AudienceEngine, helped drive traffic across the company's network. Average revenue per user was 4.5 cents, flat sequentially but down from 5.4 cents a year earlier. Leung said the decline reflected AudienceEngine revenue being recognized net of traffic acquisition costs, which lowers ARPU but contributes positively to profit. The analyst said AI is also helping improve workflow efficiency and could support operating leverage over time. VerticalScope expects about US$1.6-million of additional AI investment in the second half of 2026. Headline free cash flow was US$3.6-million, representing 80.7% conversion from Adjusted EBITDA. Leung's free cash flow to equity calculation was negative US$316,000, mainly because of a US$7.2-million sequential increase in receivables tied to AudienceEngine. VerticalScope ended Q2 with US$7.4-million of cash and US$32.5-million of debt. After quarter-end, it drew US$6-million to fund its previously announced investment in AI partner AltaML. Leung said VerticalScope is also in advanced discussions with a major technology company on a deal that would compensate the company for contributions to AI-generated responses. The company has also filed a statement of claim in Ontario Superior Court against OpenAI. Leung expects VerticalScope to generate Adjusted EBITDA of US$16.9-million on revenue of US$54.7-million in fiscal 2026. Rod Weatherbie. Rod Weatherbie is a journalist based in Prince Edward Island. Since 2004, he has written extensively about the Canadian property and casualty insurance landscape. He was also a founder and contributing editor for a Toronto-based arts website and a PEI-based food magazine. His fiction and poetry have been featured in The Fiddlehead, The Antigonish Review, and Juniper. Beacon Securities analyst Gabriel Leung maintained a "Speculative Buy" rating and C$7.00 target on VerticalScope (VerticalScope Stock Quote, Chart, News,... Toronto-based VerticalScope (VerticalScope Stock Quote, Chart, News, Analysts, Financials TSX:FORA) is showing signs of recovery as digital traffic stabilizes and... Loading more...

Scot a new site, and Sail GPs Sydney sacking. 16 July, 2026 Some of you may know of Scot Tempesta as one of the original punk rockers of the sailing internet. Scot founded Sailing Anarchy in 2002 on the USA west coast, and it went on to hit a cultural high-water mark around the time of the 33rd America's Cup, At that time the site had 400,000 unique visitors each month. I thought little old SWS was going ok with 20,000 visitors each month. It has always been a refreshingly, irreverent alternative to buttoned-up sailing media and even if you didn't embrace Scot's tone, you still had to take on board his opinions if you wanted to be a serious player. SA was always community-oriented, (a thing Southern Wooden Boat Sailing often bang on about in these pages). It covered global and local regattas with irreverent, sometimes profane commentary but always with an edge of truth, and often a truth that those high up in sailing's heiracy didn't want to hear. I loved it and It was part of my digital news intake every morning. Over the last few months there has been a major upheaval at the site. I not privy the details but the story seems to be that in March 2026, Scot was fired from the site he'd founded by the current owners, VerticalScope, a Toronto-based, publicly traded company. In April 2025 He announced it himself on Facebook, saying he'd been let go with no explanation given, and that the company had cut off his longtime [email protected] email address - the one he'd used as his primary email for 27 years. SailingAnarchy's only official comment was that he was fired "for cause." Tempesta has said he doesn't know the real reason, but suspects it relates to political friction - he described himself as politically progressive and openly critical of the current U.S. administration's environmental policies, and figures that clashed with VerticalScope's more corporate, "buttoned-down" culture. Anyway... enough of these shenanigans. The good news is that Scot has been reborn... on a great new site called RULE 69 ...a typically Scot like play on words... In case you don't know... From the racing rules of sailing- 69 MISCONDUCT A competitor, boat owner or support person shall not commit an act of misconduct. * Misconduct is: * conduct that is a breach of good manners, a breach of good sportsmanship, or unethical behaviour; or * conduct that may bring, or has brought, the sport into disrepute. Scot has kindly let Southern Wooden Boat Sailing reprocuce this recent article from Rule 69, to give you the vibe of the new site. And its an issue that regular readers of SWS know is close to my heart! Southern Wooden Boat Sailing has just had proof, if it were ever needed, that SailGP is much more of a business, than it is a sporting event. Without any public explanation, the Coutts/Ellison circus has dropped Sydney as a venue for the 2027 season. Sydney Harbour was where the first SailGP race was held back in February 2019. It has hosted a round of the series every year since. Imagery of the F50 cats with the spectacular Harbour and Opera House as backgrounds has been a prominent part of the event's image and promotional campaigns. Not every local sailor welcomed the disruptions SailGP caused to their normal weekend racing. There were some close calls when the foiling cats did warm-up runs before the afternoon exclusion zones came into effect (see pic,left). Nevertheless, the event enjoyed reasonable support. But apparently, not enough. Unlike the Formula 1 motor racing circuit, where the tracks are locked in for a set span of years, SailGP can change its locations at whim. There is little stability as venues come and go. The reasons for these changes are overwhelmingly commercial. If Coutts & Co can't make a location pay, then it will soon be dumped. Ticket sales and spectator boat access are key components of the SailGP business model. In the case of Sydney, the unique geography of the Harbour means that there is nowhere to erect shoreline grandstands where fans can buy a close-up view of the racing. The best vantage opportunity is Shark Island, a small rocky outcrop with limited space. The logistics of providing transport, food, drink and shelter are complex, and expensive. Crowds for the last few years were disappointing and local sponsorship support lackluster. Too few boat owners were prepared to pay the big bucks demanded for a privilege flag. Even with the Australian team leading the series, it was time for SailGP to cut its losses and look elsewhere. So, the next event 'Down Under' will be in Perth, 2,600 miles away on the other side of the continent. But for how much longer can SailGP keep wandering around the world chasing after a dollar?