Rumble (US:RUM)2025-11-10 13:48Revenue and Financial Performance - Revenue for Q3 2025 was $24.8 million, a decrease of 1% from $25.1 million in Q3 2024[4] - Revenues for the three months ended September 30, 2025, were $24,762,445, a decrease from $25,056,904 in the same period of 2024, representing a decline of approximately 1.2%[22] - The net loss for the three months ended September 30, 2025, was $16,261,762, compared to a net loss of $31,539,413 for the same period in 2024, reflecting an improvement of approximately 48.7%[22] - The company reported a loss per share of $0.06 for the three months ended September 30, 2025, compared to a loss per share of $0.15 in the same period of 2024[22] - The company experienced a net loss of $49,136,885 for the nine months ended September 30, 2025, compared to a net loss of $101,610,153 for the same period in 2024, indicating an improvement of approximately 52%[26] - The company reported an Adjusted EBITDA loss of $(58,265,958) for the nine months ended September 30, 2025, compared to a loss of $(78,684,576) for the same period in 2024, showing an improvement of approximately 26%[29] User Metrics - Monthly Active Users (MAUs) were 47 million in Q3 2025, down from 51 million in Q2 2025, attributed to seasonal content creation and a slowdown in news and political commentary[4] - Average Revenue Per User (ARPU) increased by 7% to $0.45 in Q3 2025 compared to Q2 2025, driven by audience monetization despite fewer MAUs[4] Expenses - Total expenses for the three months ended September 30, 2025, were $52,904,530, down from $57,874,368 in the same period of 2024, indicating a reduction of about 8.5%[22] - Cost of services decreased by 31% to $25.2 million in Q3 2025, primarily due to a reduction in programming and content costs[6] - General and administrative expenses increased by 8% to $10.5 million in Q3 2025, driven by higher professional fees[7] - Sales and marketing expenses rose by 28% to $5.1 million in Q3 2025, reflecting increased marketing and public relations activities[9] - Research and development expenses for the three months ended September 30, 2025, were $4,455,354, slightly down from $4,650,688 in the same period of 2024[22] - The total share-based compensation expense for the three months ended September 30, 2025, was $5,383,691, compared to $6,157,765 in the same period of 2024, indicating a decrease of about 12.5%[22] - Share-based compensation expenses for the nine months ended September 30, 2025, totaled $19,447,788, compared to $17,478,041 for the same period in 2024, representing an increase of approximately 11%[29] Liquidity and Assets - Total liquidity as of September 30, 2025, was $293.8 million, including $269.8 million in cash and cash equivalents and Bitcoin valued at $24.0 million[4] - Cash and cash equivalents increased to $269,757,150 as of September 30, 2025, up from $114,018,900 at the beginning of the period, reflecting a growth of approximately 136%[26] - As of September 30, 2025, the company reported total assets of $367,174,300, a significant increase from $195,312,807 as of December 31, 2024, representing an increase of approximately 88%[24] Liabilities - The total liabilities decreased from $258,428,209 as of December 31, 2024, to $64,943,669 as of September 30, 2025, reflecting a reduction of approximately 75%[24] - The company reported a significant increase in accounts payable and accrued liabilities, rising to $30,545,284 as of September 30, 2025, compared to $18,223,372 as of December 31, 2024, an increase of approximately 68%[24] Strategic Initiatives - Rumble announced a strategic partnership with Cumulus Media to enhance distribution and monetization opportunities[4] - The company incurred acquisition-related transaction costs of $5,236,796 during the three months ended September 30, 2025, with no such costs reported in the same period of 2024[22] - The company raised $775,000,000 from the issuance of Class A Common Stock during the financing activities, which was a key strategy to enhance liquidity[26] Other Financial Metrics - Interest income for the three months ended September 30, 2025, was $2,896,649, an increase from $1,949,898 in the same period of 2024, representing a growth of approximately 48.7%[22] - The company reported changes in fair value of digital assets amounting to $(1,456,388) for the three months ended September 30, 2025, with no such changes reported in the same period of 2024[22] - The company’s digital assets amounted to $24,049,413 as of September 30, 2025, indicating a new asset class introduced in the financials[24]