Vertiqal Studios Announces Q3 2025 Results
Vertiqal Studios (OTC: VERTF) reported Q3 2025 results for the three months ended September 30, 2025, with Q3 revenue of $2,158,802, a +16% YoY increase driven by recently acquired Enthusiast Gaming assets.
Gross margin was 57% for the quarter (vs 53% in Q3 2024). Total expenses rose sharply due to debt extinguishment and integration costs; normalized EBITDA was a loss of $576,315 for Q3. Management repaid a promissory note, removing security over assets, and acquired a Google Ad Manager license to sell Programmatic Guaranteed. Near-term priorities include integration, expanding direct advertising partnerships, and reaching positive normalized EBITDA in 2026.
Vertiqal Studios (OTC: VERTF) ha riportato i risultati del terzo trimestre 2025 per i tre mesi terminati il 30 settembre 2025, con un fatturato del terzo trimestre di $2.158.802, un aumento del 16% su base annua trainato dagli asset recentemente acquisiti di Enthusiast Gaming.
Il margine di profitto lordo è stato del 57% per il trimestre (rispetto al 53% del Q3 2024). Le spese totali sono aumentate sensibilmente a causa del rimborso del debito e dei costi di integrazione; l'EBITDA normalizzato è stato una perdita di $576.315 per il Q3. Il management ha rimborsato una nota promissoria, rimuovendo la garanzia sugli asset, e ha acquisito una licenza Google Ad Manager per vendere Programmatic Guaranteed. Le priorità a breve termine includono l'integrazione, l'espansione delle partnership pubblicitarie dirette e il raggiungimento di un EBITDA normalizzato positivo nel 2026.
Vertiqal Studios (OTC: VERTF) informó los resultados del tercer trimestre de 2025 para los tres meses concluidos el 30 de septiembre de 2025, con ingresos del tercer trimestre de $2,158,802, un incremento interanual del 16% impulsado por los activos de Enthusiast Gaming recientemente adquiridos.
El margen bruto fue del 57% para el trimestre (en comparación con el 53% del Q3 2024). Los gastos totales aumentaron considerablemente debido al extinguimiento de deuda y costos de integración; el EBITDA normalizado fue una pérdida de $576,315 para el Q3. La gerencia pagó una nota promisoria, eliminando la garantía sobre los activos, y adquirió una licencia de Google Ad Manager para vender Programmatic Guaranteed. Las prioridades a corto plazo incluyen la integración, ampliar las asociaciones directas de publicidad y lograr un EBITDA normalizado positivo en 2026.
Vertiqal Studios(OTC: VERTF)는 2025년 3분기 9월 30일 종료된 3개월에 대한 실적을 발표했습니다. 3분기 매출 2,158,802달러, 전년동기 대비 +16% 증가가 Enthusiast Gaming 자산의 최근 인수로 견인되었습니다.
분기 총 이익률은 57%였으며(2024년 3분기의 53%와 비교). 총비용은 부채 소멸 및 통합 비용으로 급격히 증가했습니다; 정상화된 EBITDA는 3분기에 미화 576,315달러 손실이었습니다. 경영진은 어음(약속어음)을 상환하여 자산에 대한 담보를 제거했고, Programmatic Guaranteed를 판매하기 위한 Google Ad Manager 라이센스를 취득했습니다. 단기 우선순위에는 통합, 직접 광고 파트너십의 확대, 2026년에 양호한 정상화 EBITDA 달성이 포함됩니다.
Vertiqal Studios (OTC: VERTF) a publié les résultats du troisième trimestre 2025 pour les trois mois terminés le 30 septembre 2025, avec un chiffre d'affaires du T3 de 2 158 802 USD, une augmentation de 16 % sur un an tirée par les actifs Enthusiast Gaming récemment acquis.
La marge brute était de 57% pour le trimestre (contre 53% au T3 2024). Les dépenses totales ont augmenté fortement en raison de l'extinction de la dette et des coûts d'intégration; l'EBITDA normalisé était une perte de 576 315 USD pour le T3. La direction a remboursé une note promissoire, supprimant la garantie sur les actifs, et a acquis une licence Google Ad Manager pour vendre Programmatic Guaranteed. Les priorités à court terme incluent l'intégration, l'expansion des partenariats publicitaires directs et l'atteinte d'un EBITDA normalisé positif en 2026.
Vertiqal Studios (OTC: VERTF) meldete die Q3 2025 Ergebnisse für die drei Monate zum 30. September 2025, mit Q3-Umsatz von 2.158.802 USD, einer +16% YoY-Steigerung, angetrieben durch die kürzlich erworbenen Enthusiast Gaming-Aktiva.
Die Bruttomarge lag im Quartal bei 57% (gegenüber 53% in Q3 2024). Die Gesamtausgaben stiegen aufgrund der Schuldenstillegung und Integrationskosten deutlich an; der normalisierte EBITDA betrug im Q3 ein Verlust von 576.315 USD. Das Management zahlte eine Schuldscheinverpflichtung zurück, entfernte die Sicherheit über Vermögenswerte und erwarb eine Google Ad Manager-Lizenz zum Verkauf von Programmatic Guaranteed. Zu den kurzfristigen Prioritäten gehören die Integration, der Ausbau direkter Werbepartnerchaften und die Erreichung eines positiven normalisierten EBITDA im Jahr 2026.
أعلنت Vertiqal Studios (OTC: VERTF) عن نتائج الربع الثالث من عام 2025 للثلاثة أشهر المنتهية في 30 سبتمبر 2025، مع إيرادات الربع الثالث البالغة 2,158,802 دولار، ارتفاع بنسبة 16% على أساس سنوي مدفوعاً بالأصول التي تم الاستحواذ عليها حديثاً من Enthusiast Gaming.
كان الهامش الإجمالي 57% للربع (مقارنة بـ 53% في الربع الثالث من 2024). ارتفعت المصروفات الإجمالية بشكل حاد بسبب إطفاء الدين وتكاليف الدمج؛ كان EBITDA المعدل خسارة قدرها $576,315 للربع الثالث. قام الإدارة بسداد سند وعد، ما أزال الضمان على الأصول، واشتري ترخيص Google Ad Manager لبيع Programmatic Guaranteed. تشمل الأولويات في المدى القريب الدمج، توسيع شراكات الإعلان المباشر، وتحقيق EBITDA المعدل الإيجابي في 2026.
- Q3 revenue +16% YoY to $2,158,802
- Gross margin 57% in Q3 (up from 53% YoY)
- Acquired Enthusiast Gaming assets reflected in Q3 topline
- Repaid promissory note, assets no longer secured
- Obtained Google Ad Manager license to sell Programmatic Guaranteed
- Total expenses surged to $4,263,224 in Q3 from $555,297 prior year
- Q3 normalized EBITDA loss of $576,315; YTD loss $2,487,266
- Nine-month revenue down 4% YoY to $3,642,413
- One-time integration and debt-extinguishment costs weighed on near-term profitability
Toronto, Ontario--(Newsfile Corp. - November 13, 2025) - Vertiqal Studios Corp. (TSX: VRTS) (FSE: 9PY0) ("Vertiqal" or the "Company"), a leading digital-channel network and video-production studio, as well as the owner of North America's largest gaming and lifestyle network on social media, today announced its financial results for the three months ended September 30, 2025.
Key Financial Highlights
The Company's growing audience and recently acquired assets are now reflected in topline performance of
$2,158,802. Q3 revenue grew +16% Year over Year (YoY), aided by the Enthusiast Gaming assets acquired in September.The Company achieved a healthy gross margin of
57% for the quarter, compared to53% in the same period 2024, and63% for the year-to-date, reflecting continued operational efficiency.Expenses increased due to extinguishment of debt. The Company expects integration costs to taper and synergy savings to flow through in coming quarters.
Vertiqal's repayment of the promissory note now leaves the Company free of any security over its assets and free of the corresponding debt.
Normalized EBITDA reflected integration timing, with a negative result as one-time costs were absorbed and newly acquired assets scaled; management is executing cost and efficiency initiatives to drive a return to breakeven.
The Company's near-term priorities include completing post-acquisition integration, expanding higher-margin direct advertising partnerships, and fully monetizing its scaled network through Q4 and into 2026.
Management Commentary
"Q3 opened the aperture of scale, witnessed by Vertiqal's acquisition of a Google Ad Manager license, which allows the Company to sell Programmatic Guaranteed, therein providing the market with a full-funnel digital product," said Jon Dwyer, Chairman and CEO of Vertiqal Studios. "While integration drove temporary costs, our core model continues to run at healthy gross margins. Over the next two quarters, we are consolidating tools and vendor stacks, expanding direct brand deals ahead of seasonal spend, and executing on synergy plans. We are focused on one simple goal: reach positive normalized EBITDA in 2026 for the very first time in our operating history. We look forward to reporting progress on this each quarter."
Financial Results
Below is a summary of the financial results for the three and nine months ended September 30, 2025, and September 30, 2024.
| | Three months ended September 30, 2025 | Three months ended September 30, 2024 | Variance % | Nine months ended September 30, 2025 | Nine months ended September 30, 2024 | Variance % | |
| Revenues | | 2,158,802 | 1,863,636 | 3,642,413 | 3,810,715 | - | |
| Gross Profit | | 1,233,483 | 993,474 | 2,301,666 | 2,516,465 | - | |
| Total Expenses | | 4,263,224 | 555,297 | - | 7,186,787 | 3,554,477 | - |
| Normalized EBITDA | | (576,315) | (465,962) | - | (2,487,266) | (1,980,035) | - |
| Adjusted Loss | | (376,478) | (807,976) | (1,814,452) | (1,529,693) | - |
About Vertiqal Studios Corp.
Vertiqal Studios is a scaled digital-channel network and video-production studio that owns North America's largest gaming and lifestyle network. The Company helps global brands reach Gen Z and Millennial audiences through data-driven creative, always-on digital campaigns, and performance-oriented distribution.
Vertiqal manages 200+ channels across TikTok, Instagram, YouTube, and Snapchat, producing over 100 pieces of content per day for a community of more than 52 million followers. Revenue is generated through a mix of direct brand partnerships, agency relationships, and platform monetization across its owned and operated channels.
For more information, please visit www.vertiqalstudios.com.
For media inquiries, please contact:
Press Inquiries Email: info@vertiqalstudios.com
Investor Relations Email: ir@vertiqalstudios.com
Forward-Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Non-IFRS measures and reconciliation
This press release includes non-IFRS measures such as Normalized EBITDA. These measures do not have standardized meanings under IFRS and may not be comparable to similar measures used by other issuers. A reconciliation to the most directly comparable IFRS measure will be provided in our MD&A, available on SEDAR+.
Vertiqal files its interim and annual financial statements and MD&A on SEDAR+ at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274458
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