Group 1 - The article discusses the impact of tariffs on consumer discretionary stocks, specifically highlighting Kohl's and Dillard's as intriguing investment opportunities amidst a sell-off [1] - The analysis suggests that both companies may present potential value for investors looking to capitalize on the current market conditions [1]

Core Viewpoint - Rumble supports the Trump administration's decision to restrict visas for foreign officials who engage in censorship against Americans, highlighting the importance of free speech and digital sovereignty [1][2]. Company Overview - Rumble is a high-growth video-sharing platform and cloud services provider focused on creating an independent infrastructure to restore the internet to its original principles of being free and open [3]. Legal Context - Rumble is currently involved in a lawsuit against Brazilian Supreme Court Justice Alexandre de Moraes, claiming that his actions violated the First Amendment by suspending Rumble accounts of a politically outspoken user [1][2]. Industry Implications - The actions taken by the Trump administration are viewed as a significant defense of American digital sovereignty and the First Amendment, countering foreign censorship efforts that target U.S. companies and users [2].

Core Insights - Rumble's CEO Chris Pavlovski will interview Donald Trump Jr. at the Bitcoin 2025 conference, focusing on themes of decentralization and free speech [1][3] - Rumble is a 3 Block sponsor of the Bitcoin 2025 conference, enhancing its live-streaming presence with content creators [2] - Rumble has adopted a Bitcoin treasury strategy, aligning its mission with the principles of Bitcoin [3] Company Overview - Rumble is a high-growth video-sharing platform and cloud services provider aiming to create an independent infrastructure [4] - The company's mission is to restore the internet to its roots by promoting a free and open environment [4]

Core Insights - Rumble has announced a strategic collaboration with TRON DAO to enhance decentralization through blockchain technology and decentralized applications [2][4] - The partnership aims to leverage Rumble Cloud's infrastructure to support a more resilient and decentralized internet [2][5] Company Overview - Rumble is a high-growth video-sharing platform and cloud services provider focused on creating an independent infrastructure to restore the internet's openness [6] - Rumble Cloud offers a comprehensive portfolio of cloud computing services, including virtual machines, Kubernetes orchestration, and storage solutions, aimed at empowering organizations against unfair pricing and censorship [3][5] TRON DAO Insights - TRON DAO is dedicated to accelerating internet decentralization and has reclaimed its position as the leading network for Tether (USDT), holding over 63% of the global market share with more than $150 billion in circulation [4][8] - The TRON blockchain has seen significant growth, with over 308 million user accounts and more than 10 billion transactions recorded as of May 2025 [8] Strategic Implications - The collaboration between Rumble and TRON is expected to enhance censorship resistance and reduce single points of failure in cloud infrastructure, thereby maintaining the decentralized nature of the network [5] - This partnership underscores the importance of reliable cloud data storage in supporting the decentralized qualities inherent in blockchain technology [4][5]

Core Viewpoint - Rumble has strengthened its legal position in its antitrust lawsuit against Google by adding prominent lawyer David Boies to its litigation team, aiming to challenge Google's preferential treatment of YouTube in search results, which Rumble claims harms competition and its own growth [1][2]. Company Overview - Rumble is a high-growth video-sharing platform and cloud services provider, founded in 2013 by Chris Pavlovski, with a mission to create an independent infrastructure that resists cancellation or censorship by major tech companies [2]. - The company aims to restore the internet to its original principles of being free and open [2].

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - Post-election user retention has improved against the trend, and the cryptocurrency ecosystem layout opens up commercial space [5] - The company reported Q1 2025 earnings that exceeded market expectations, with revenue of $23.70 million, a 34% year-on-year increase, primarily driven by increased monetization revenue [6] - The company has seen a significant reduction in net losses, with Q1 2025 net loss at $2.65 million compared to $43.29 million in Q1 2024 [6] - Monthly active users (MAU) reached 59 million in Q1 2025, an 18% year-on-year growth, with an average revenue per user (ARPU) of $0.34, up 10% year-on-year [6] - The company is developing a cryptocurrency wallet in collaboration with Tether, expected to launch in Q3 2025, and has established a cloud business partnership with the Salvadoran government [6] Financial Summary - Revenue projections for 2025-2027 are $167.9 million, $381.9 million, and $1,068.1 million respectively, with net profits expected to be -$51.6 million, $5.2 million, and $144.0 million [6][7] - The company has maintained a strong user base, with MAU exceeding 40 million for 13 consecutive quarters and over 50 million for 7 consecutive quarters [6] - The company’s adjusted EBITDA loss in Q1 2025 was $22.71 million, a reduction of $3.77 million from the previous year [6]

Rumble Inc. (RUM) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.09%. A quarter ago, it was expected that this company would post a loss of $0.13 per share when it actually produced a loss of $0.44, delivering a surprise of -238.46%.Over the last four quarters, the company has not been ab ...

Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenues of $23.7 million, an increase of CAD 6 million or 34% compared to CAD 17.7 million in Q1 2024 [15] - Adjusted EBITDA loss for Q1 2025 was $22.7 million, a 14% improvement compared to a loss of $26.5 million in Q1 2024 [18] - The company ended the quarter with $301.3 million in cash and cash equivalents, a significant increase from $114 million at the end of 2024 [18] Business Line Data and Key Metrics Changes - Rumble Video achieved 59 million monthly active users (MAUs) in Q1 2025, with an 87% retention rate from Q4 2024, a significant improvement from 60% retention in Q1 2023 [6][7] - Rumble Ads is seeing traction with notable partnerships, including campaigns with Netflix, Crypto.com, and Chevron [8][9] - Rumble Cloud announced a partnership with the government of El Salvador and is expanding into the sports vertical with the Tampa Bay Buccaneers [11][12] Market Data and Key Metrics Changes - The company is focusing on international markets with the development of RumbleWallet, aiming to monetize these markets through crypto transactions [10][11] - The demand for crypto transactions is expected to grow, particularly in international markets where users prefer to transact in cryptocurrency [28] Company Strategy and Development Direction - The company is committed to its core products: Rumble Video, Rumble Ads, and Rumble Cloud, while also exploring mergers and acquisitions as a strategic focus for 2025 [13] - RumbleWallet is positioned to compete with Coinbase, aiming to become a prominent non-custodial Bitcoin and stablecoin wallet [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the advertising business turning into tailwinds with the new U.S. administration and noted the positive feedback from brand partnerships [8][34] - The company aims to move towards adjusted EBITDA breakeven in 2025, supported by the recent capital infusion from Tether [18] Other Important Information - The company is localizing its video product for various languages to support the international launch of RumbleWallet [10] - The increase in general and administrative expenses was primarily due to one-time payroll events related to executive departures [16][17] Q&A Session Summary Question: Bitcoin treasury strategy and liquidity - Management approved up to $20 million for Bitcoin purchases, with no further strategy announced at this time [23][25] Question: Rumble Wallet's market positioning - Rumble Wallet aims to serve creators and users by facilitating crypto transactions, particularly in international markets [27][28] Question: Integration of Bitcoin and crypto into the business model - Management believes that Bitcoin and crypto initiatives will complement the existing business rather than change it [30] Question: Brand partnerships details - Positive feedback was received from the Netflix campaign, with ongoing campaigns for Chevron and Crypto.com [34] Question: M&A strategy - The company is open to evaluating strategic opportunities as they arise, with no specific details provided [36]

Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenues of $23.7 million, an increase of CAD 6 million or 34% compared to CAD 17.7 million in Q1 2024 [15] - Adjusted EBITDA loss for Q1 2025 was $22.7 million, a 14% improvement from a loss of $26.5 million in Q1 2024 [17] - The company ended the quarter with $301.3 million in cash and cash equivalents, significantly up from $114 million at the end of 2024 [18] Business Line Data and Key Metrics Changes - Rumble Video achieved 59 million monthly active users (MAUs) in Q1 2025, with an 87% retention rate from Q4 2024, a significant improvement from 60% retention in Q1 2023 [5][6] - Rumble Ads is seeing traction with notable partnerships, including campaigns with Netflix, Crypto.com, and Chevron [7][8] - Rumble Cloud announced a partnership with the government of El Salvador and is expanding into the sports vertical with the Tampa Bay Buccaneers [11][12] Market Data and Key Metrics Changes - The company is focusing on international markets with the development of RumbleWallet, aiming to monetize these markets through crypto transactions [10] - The demand for crypto transactions is expected to grow, particularly in international markets where users prefer to transact in cryptocurrency [26] Company Strategy and Development Direction - The company is committed to enhancing its core products: Rumble Video, Rumble Ads, and Rumble Cloud, while also exploring mergers and acquisitions [13] - RumbleWallet is positioned as a major growth opportunity, aiming to compete with Coinbase and serve the creator economy [10][11] - The management sees the cloud business as having significant potential, especially with government partnerships [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the advertising business turning into tailwinds with the new U.S. administration [7] - The company aims to move towards adjusted EBITDA breakeven in 2025, supported by the recent capital infusion from Tether [17] - The management highlighted the importance of the creator economy and the demand for crypto payments as a competitive advantage [28] Other Important Information - The company is actively working on localizing its video product for international markets to support the launch of RumbleWallet [10] - The increase in general and administrative expenses was primarily due to one-time payroll events related to executive departures [16] Q&A Session Summary Question: What are the goals for the Bitcoin treasury and its relation to cash liquidity? - The board approved up to $20 million for Bitcoin purchases, with no further strategy announced at this time [22] Question: What are the use cases for the Rumble Wallet compared to competitors? - The Rumble Wallet aims to serve creators who prefer to be paid in Bitcoin or stablecoins, leveraging trust and demand from creators [25][26] Question: Can you provide details on brand partnerships and initial feedback? - The company received positive feedback from a campaign with Netflix and is currently working with Chevron and Crypto.com [31] Question: What are the M&A interests for the company? - The company is focused on evaluating strategic opportunities as they arise, with no specific details provided [33]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-40079 RUMBLE INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incor ...