U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 0.3% on Wednesday. The Dow traded up 0.34% to 44,059.95 while the NASDAQ rose 0.28% to 19,335.15. The S&P 500 also rose, gaining, 0.32% to 6,003.04. Check This Out: Top 4 Consumer Stocks That May Explode In November Leading and Lagging Sectors Consumer discretionary shares surged by 1.3% on Wednesday. In trading on Wednesday, communication services shares fell by 0.2%. Top Headline Rumble Inc. RUM shares fell aroun ...

Rumble's recently published third-quarter report arrived with troubling indicators for investors.Rumble (RUM -12.30%) stock is falling in Wednesday's trading following the company's recently published quarterly results. The streaming specialist's share price was down 12.5% as of 11 a.m. ET.Rumble published third-quarter earnings results after the market closed yesterday, posting sales and earnings that fell short of Wall Street's expectations. The company posted a loss of $0.15 per share on revenue of $25.0 ...

Financial Data and Key Metrics - Q3 2024 revenue was $25.1 million, up $7.1 million from Q3 2023, driven by a $5.9 million increase in audience monetization and $1.2 million from other initiatives [28] - ARPU decreased to $0.33 in Q3 2024 from $0.37 in Q2 2024 due to revenue growth lagging behind strong MAU growth [29] - Cost of services decreased to $36.4 million in Q3 2024 from $39.8 million in Q3 2023, primarily due to a $5.4 million reduction in content costs [31] - Cash, cash equivalents, and marketable securities stood at $132 million at the end of Q3 2024, down from $219.5 million at the end of 2023 [32] - Adjusted EBITDA loss improved to $23.5 million in Q3 2024 from $35.4 million in Q3 2023 [33] Business Line Performance - Rumble Premium exceeded expectations, with strong subscriber growth following the introduction of mid-roll ads in September 2024 [17][18] - The Rumble Advertising Center (RAC) saw significant growth, particularly during the U.S. presidential election, with record live streams, concurrent views, and revenue [11][12] - Rumble Cloud demonstrated its technical capabilities during the election, supporting high concurrent viewership and attracting enterprise customers [14][15] Market Performance - Rumble captured 17.8% of live hours watched in the U.S. on election day, compared to 71.2% for YouTube and 10% for Twitch [12] - The Rumble app ranked 3 in the Photo and Video category on the Apple App Store, ahead of YouTube [13] - Traditional TV networks saw ratings drop by up to 50% compared to the 2020 election, highlighting Rumble's growing influence [12] Strategic Direction and Industry Competition - Rumble positioned itself as a leader in the independent creator space, with a focus on free speech and monetization opportunities [7][10] - The company introduced a hybrid model combining YouTube's ad-free experience and Netflix's exclusive content, aiming to provide superior economics for creators [20] - The dismantling of GARM (Global Alliance for Responsible Media) removed a significant barrier to brand advertising, with the first major brand partnership set for December 2024 [23][25] Management Commentary on Operating Environment and Future Outlook - Management expressed optimism about the company's trajectory, citing strong user growth, monetization progress, and the potential for brand advertising partnerships [5][22] - The election results were seen as a turning point, with Rumble's user base now representing a majority that brands cannot ignore [22][26] - The company expects continued revenue growth in Q4 2024 and is targeting adjusted EBITDA breakeven by 2025 [30][33] Other Key Information - Rumble's programming and content agreements had a minimum contractual cash commitment of $38 million as of September 30, 2024, down from $106 million at the end of 2023 [31] - The company's cash usage improved by 25% in Q3 2024 compared to Q2 2024, reflecting better financial management [32] Q&A Session Summary Question: Visibility into forward advertising revenue and potential for formal guidance - Management highlighted the shift from direct response advertising to brand advertising, with the first major brand partnership set for December 2024 [36][38] - The company expects continued growth in advertising revenue, driven by the introduction of mid-roll ads and the dismantling of GARM [37][39] Question: Plans to retain high engagement post-election - Management emphasized product improvements and the premium offering as key drivers of user stickiness [45][47] - Early signs indicate strong retention of engagement, particularly among premium subscribers [46][48] Question: Status of Rumble Advertising Center tools and user interface - The Rumble Advertising Center is in its best state, with mid-roll ads significantly boosting both RAC and Premium revenue [50][52] - Further optimizations are planned, but the current setup is delivering strong results [52] Question: Sales cycle for Rumble Cloud and future prospects - The sales cycle for Rumble Cloud remains long but is progressing, with potential deals involving large enterprises and government clients [53][54] - Recent wins, such as the Miami Dolphins deal, demonstrate the platform's growing appeal [53] Question: Revenue seasonality expectations for Q4 2024 - Management expects continued sequential revenue growth in Q4 2024, driven by the full-quarter impact of mid-roll ads and strong performance in RAC [57][58]

Rumble Inc. (RUM) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -15.38%. A quarter ago, it was expected that this company would post a loss of $0.15 per share when it actually produced a loss of $0.18, delivering a surprise of -20%. Over the last four quarters, the company has surpassed co ...

User Metrics and Analytics - MAUs (GA4) averaged 67 million in Q3 2024, a 26% increase from Q2 2024, driven by heightened interest in political news ahead of the U.S. presidential election[143] - The company transitioned from Universal Analytics (UA) to Google Analytics 4 (GA4) in Q3 2023, which may affect the comparability of MAU metrics between periods[138] - Connected TV users, now included in MAUs (GA4), are estimated to be fewer than 1 million and considered immaterial[141] - The company relies on significant paid advertising to attract users but acknowledges potential overstatement of MAUs due to spam and fraudulent activity[142] Revenue and ARPU - ARPU decreased by 11% to $0.33 in Q3 2024, as revenue growth slightly lagged behind strong MAU growth during the same period[146] - ARPU calculations exclude Other Initiatives revenue and are based on Audience Monetization revenue divided by MAUs for the relevant quarter[145] - Revenues increased by $7.1 million (39%) to $25.1 million in Q3 2024 compared to Q3 2023, driven by a $5.9 million increase in Audience Monetization revenues and $1.2 million from Other Initiatives[151] - Revenues increased by $4.7 million (8%) to $65.3 million in the nine months ended September 30, 2024, with $2.4 million from Audience Monetization and $2.3 million from Other Initiatives[165] - Total revenue for the quarter ended September 30, 2024 was $25.1 million, compared to $17.98 million in the same quarter of 2023[185] Expenses and Costs - The company expects sales and marketing expenses to increase as it promotes its platform, expands marketing activities, and grows domestic and international operations[131] - Research and development expenses primarily include payroll, bonuses, and share-based compensation for engineering and development teams, as well as consultant fees[130] - General and administrative expenses are expected to rise due to compliance costs, including audit, legal, and investor relations expenses[129] - Cost of services includes programming and content costs, third-party service provider fees, and payment processing fees, all expected to increase in absolute dollar amounts[128] - Cost of services decreased by $3.3 million (8%) to $36.4 million in Q3 2024, primarily due to a $5.4 million reduction in programming and content costs[153] - Research and development expenses decreased by $0.5 million (9%) to $4.7 million in Q3 2024, mainly due to lower payroll and related expenses[154] - Sales and marketing expenses increased by $0.8 million (24%) to $4.0 million in Q3 2024, driven by higher payroll and related expenses[155] - Amortization and depreciation increased by $1.8 million (131%) to $3.1 million in Q3 2024, due to infrastructure build-out and intangible asset amortization[156] - Cost of services decreased by $2.7 million (3%) to $103.9 million in the nine months ended September 30, 2024, primarily due to a $7.6 million reduction in programming and content costs[166] - Research and development expenses increased by $2.4 million (20%) to $14.5 million in the nine months ended September 30, 2024, driven by higher payroll and related expenses[169] - Sales and marketing expenses increased by $3.3 million (32%) to $13.5 million in the nine months ended September 30, 2024, due to higher payroll, consulting services, and marketing activities[169] Financial Performance and Losses - Net loss increased by $2.5 million (9%) to $31.5 million in Q3 2024 compared to Q3 2023[151] - Adjusted EBITDA for the nine months ended September 30, 2024 was $(78.7) million, compared to $(85.3) million in the same period of 2023[188] Cash Flow and Investments - As of September 30, 2024, the company's cash, cash equivalents, and marketable securities balance was $132.0 million[179] - Net cash used in operating activities for the nine months ended September 30, 2024 was $74.7 million, an increase of $14.8 million compared to the same period in 2023[181][182] - Net cash used in investing activities for the nine months ended September 30, 2024 was $11.3 million, including $7.3 million in purchases of property, equipment, and intangible assets[183] Customer Concentration and Revenue Recognition - For the three months ended September 30, 2024, one customer accounted for $3,192,053 or 13% of revenue, compared to $5,751,157 or 32% in the same period in 2023[203] - For the nine months ended September 30, 2024, one customer accounted for $11,671,470 or 18% of revenue, compared to $29,762,071 or 49% in the same period in 2023[203] - As of September 30, 2024, one customer accounted for 11% of accounts receivable, down from 35% as of December 31, 2023[203] - Trade and barter revenue is recognized based on the fair value of products and services received, or standalone selling price if fair value is not estimable[200] Tax and Interest Rate Sensitivity - The company reviews its tax positions in various jurisdictions and records additional liabilities if events change the status of its tax liability[199] - An immediate 10% change in interest rates would not materially affect the fair market value of the company's cash, cash equivalents, and marketable securities due to their short-term maturities and low-risk profile[203] Contractual Commitments and Fair Value Adjustments - The company had entered into programming and content agreements with a minimum contractual cash commitment of $38 million as of September 30, 2024[180] - Change in fair value of contingent consideration increased by $3.1 million, resulting in a loss of $1.4 million for the nine months ended September 30, 2024[172] - Interest income decreased by $3.9 million to $6.6 million for the nine months ended September 30, 2024 compared to the same period in 2023[173] - Other income (expense) decreased by $0.2 million to $0.1 million for the nine months ended September 30, 2024[175] - Change in fair value of warrant liability decreased by $2.1 million, resulting in a loss of $1.5 million for the nine months ended September 30, 2024[176]

Exhibit 99.1 Rumble Reports Third Quarter 2024 Results ~ MAU Growth to 67 Million, Up 26% Quarter-over-Quarter ~ ~ Record Revenues of $25.1 Million, Up 39% Year-over-Year ~ ~ Fourth Consecutive Quarter of Reduced Cash Usage, 25% Less Usage Than Prior Quarter ~ LONGBOAT KEY, Fla., November 12, 2024 (GLOBE NEWSWIRE) -- Rumble Inc. (Nasdaq: RUM) ("Rumble" or the "Company"), the video-sharing platform and cloud services provider, today announced financial results for the fiscal third quarter ended September 30, ...

The conservative media site is finally cashing on Trump's victory.Shares of Rumble (RUM 18.00%) surged today as it continued to ride a wave of support following President-elect Trump's victory last Tuesday. It was one of several stocks in the so-called "Trump trade" to gain on Monday as Tesla and cryptocurrencies like Bitcoin also popped. There wasn't any major company-specific news out on Rumble, which is essentially a conservative alternative to YouTube, but there was one item that could have spurred gain ...

Rumble Inc. (RUM) shares soared 6.6% in the last trading session to close at $6.11. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.3% gain over the past four weeks.Rumble is benefiting from its role as a free-speech focused video platform and its recent cloud expansion, appealing to clients and advertisers seeking an alternative to the major tech companies.This company is expected to post quarterly loss of $0.13 per share in i ...

LONGBOAT KEY, Fla., Nov. 06, 2024 (GLOBE NEWSWIRE) --  Rumble (NASDAQ:RUM), the video-sharing platform and cloud services provider, today announced that it broke multiple records on a historic Election Night. On the evening of November 5 and into the morning of November 6, Rumble set new high marks in a variety of categories, including number of livestreams, live concurrent views, consumption, total Rumble Premium subscribers, and revenue generated through the Rumble Advertising Center. According to Streams ...

Company Announcement - Rumble announced that Steven Crowder will host an Election Night livestream titled "The Election Livestream of the Century: The Rumble on Rumble" starting at 6:00 p.m. EST [1] - The livestream will promote Rumble Premium, the platform's ad-free subscription product, as Crowder's new home for exclusive content [1] - Rumble users subscribed to Crowder's MugClub will automatically receive access to Rumble Premium [1] - Steven Crowder currently has over 1.6 million subscribers on his Rumble channel [1] Leadership Commentary - Rumble's Chairman and CEO Chris Pavlovski stated that Rumble is the destination for millions seeking unfiltered coverage of current events and breaking news [2] - Pavlovski emphasized that Rumble Premium offers an improved ad-free experience and access to exclusive content [2] - He highlighted that the 2024 US presidential election coverage is expected to be the most-watched in world history, with people eager for news free from corporate media influence [2] - Pavlovski described Rumble as the world's leading free speech video-sharing platform, providing access to sought-after content [2] Company Overview - Rumble is a high-growth video platform and cloud services provider building an independent infrastructure [3] - The company's mission is to restore the internet to its roots by making it free and open once again [3]