Financial Data and Key Metrics Changes - The company reported revenues of $25,100,000, representing a 12% year-over-year increase, driven by a $1,700,000 increase in audience monetization revenues and a $900,000 increase in other initiatives [19][20] - Adjusted EBITDA loss improved to $20,500,000 compared to a loss of $28,700,000 last year, marking an $8,200,000 improvement [20] - The company ended the quarter with total liquidity of $306,400,000, including $283,800,000 in cash and cash equivalents and $22,600,000 in Bitcoin holdings [21] Business Line Data and Key Metrics Changes - Audience monetization revenue increased due to growth in Rumble Premium and local subscriptions, offset by advertising revenue [19] - ARPU increased to $0.42, up 24% sequentially, indicating enhanced monetization strategies [20] Market Data and Key Metrics Changes - The company maintained 51,000,000 MAUs, marking the eighth consecutive quarter above the 50,000,000 mark, and showing growth compared to the post-midterm elections Q2 2023 number [8] Company Strategy and Development Direction - The company is focused on M&A strategy, with a potential acquisition of AI company Northern Data to enhance its cloud business and democratize compute [5][6] - The launch of Rumble Wallet is anticipated to drive growth for Rumble's video platform, both domestically and internationally [12][14] - The company aims to expand partnerships, particularly with Tether, to support aggressive growth while maintaining a free and open Internet [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of advertising revenue and the potential for CPMs to increase in future quarters [27] - The company is optimistic about the impact of Rumble Wallet on international growth and creator onboarding [46][48] Other Important Information - The company has inked strategic partnerships with Cumulus Media and a leading AI player, enhancing its advertising and technology integration capabilities [11] - The company is actively pursuing RFP processes with multiple governments and corporate entities, indicating significant interest in its cloud services [53] Q&A Session Summary Question: Update on advertising growth and RAC - Management confirmed that advertising remains a high priority and noted increased publisher inventory coming into RAC, indicating potential growth opportunities [29] Question: Onboarding more creators - The company plans to use Rumble Studio to attract creators, offering them incentives to promote Rumble Wallet, which is expected to drive creator growth [30][32] Question: Path to positive gross profit and EBITDA - Management indicated that with strong financial resources and partnerships, the company is moving towards adjusted EBITDA breakeven, though aggressive growth remains a priority [34] Question: MAU evolution and ARPU growth - Management expressed satisfaction with MAU growth, especially without the influence of a major creator, and attributed ARPU growth to successful execution of Rumble Premium [40][41] Question: Marketing initiatives for Rumble Wallet - The marketing strategy will involve both Rumble creators and off-platform initiatives to drive growth for Rumble Wallet and the video platform [43][44]

Core Viewpoint - Rumble is pursuing a potential all-stock exchange offer for 100% of Northern Data's outstanding shares, which would create a significant player in AI and cloud infrastructure, emphasizing data privacy and independence globally [1][3]. Group 1: Transaction Details - The potential offer would involve Northern Data shareholders receiving 2.319 newly issued Class A shares of Rumble for each Northern Data share tendered, resulting in approximately 33.3% pro forma ownership in Rumble for Northern Data shareholders [4]. - Tether, the majority shareholder of Northern Data, supports the transaction and plans to sell its 54% stake in Northern Data to Rumble, significantly increasing its investment in Rumble [4][9]. - The Peak Mining unit of Northern Data is expected to be sold prior to the completion of the potential offer, with proceeds used to reduce Tether's existing loan to Northern Data [2]. Group 2: Business Integration and Capacity - Upon completion of the acquisition, Rumble plans to integrate Northern Data's Ardent data center business and Taiga GPU service into its operations, enhancing its capabilities in AI cloud services [3]. - Northern Data's Taiga business includes approximately 20,480 Nvidia H100 GPUs and 2,048 H200 GPUs, while its data center sites have a potential energized capacity of nearly 850 MW, including a site in Maysville, Georgia, expected to deliver 180 MW upon completion [3][4]. Group 3: Strategic Vision - The transaction aligns with Rumble and Tether's vision to democratize computing and provide unrestricted access to infrastructure, focusing on GPU as a service and data center power [5]. - Following the potential offer, Tether is expected to become a significant customer of Rumble, committing to a multi-year GPU purchase agreement [1][4].