Rumble (NasdaqGM:RUM) FY Conference March 23, 2026 04:00 PM ET Company ParticipantsChris Pavlovski - Founder and CEOConference Call ParticipantsRohit Kulkarni - Managing Director and Senior Research AnalystRohit KulkarniOkay. Thank you for joining us. My name is Rohit Kulkarni. I'm the Internet Analyst here at Roth Capital Partners. But more importantly, thanks, Chris Pavlovski, Founder and CEO of Rumble. Rumble has grown into one of the largest independent video platforms globally, built on the foundation ...

Group 1 - Rumble Inc. reported a revenue of $100.6 million for the full year 2025, marking a 5% increase from 2024 [3] - The company achieved 52 million monthly active users (MAUs) in Q4 2025, an 11% sequential increase, driven by international expansion [1][5] - Rumble Shorts reached 1 million unique daily views shortly after its launch, indicating strong early success [1] Group 2 - Rumble is professionalizing its sales and advertising operations, securing partnerships with major brands like Netflix, Amazon Prime, and Paramount [2] - A significant $100 million, two-year advertising deal with Tether is expected to ramp up in mid-2026, aimed at attracting high-profile influencers and podcasters [2] - The company anticipates that structural changes and the upcoming midterm election cycle will drive material revenue returns in the latter half of 2026 and into 2027 [3] Group 3 - Rumble is focusing on aggressive growth in 2026, having completed key video product initiatives, including platform resiliency improvements and the launch of Rumble Wallet [1] - The company plans to close its acquisition of Northern Data in Q2 2026, targeting the high demand for GPU-as-a-Service in the cloud sector [3]

Rumble (NasdaqGM:RUM) Update Summary Company Overview - **Company**: Rumble - **Date of Call**: March 05, 2026 - **Key Speaker**: Chris Pavlovski, Founder, CEO, and Chairman Key Industry Insights - **Growth Factors**: - Rumble Shorts has shown significant growth, achieving over **1 million unique video views daily** recently, indicating a strong demand for short-form content [10][19][23] - Concurrent streamers reached a new peak, surpassing numbers from the 2024 election night, showcasing increased engagement on the platform [16][19] - Monthly Active Users (MAUs) saw sequential growth from Q3 to Q4 2025, despite a challenging environment without a presidential election [17][18] - **Product Development**: - Rumble Shorts is positioned as a "free speech version of TikTok," focusing on informational content rather than entertainment [27] - Rumble Studio has been enhanced to support concurrent streaming and is expected to attract more creators [19][30] - The platform is undergoing continuous improvements in its algorithm to enhance user experience and content discoverability [15][96] Financial Performance - **2025 Overview**: - Described as a foundational year, focusing on product development and infrastructure improvements, setting the stage for future growth [22][25] - The company anticipates a shift in revenue profile with the acquisition of Northern Data, expected to close in Q2 2026 [45][145] Strategic Initiatives - **Advertising and Monetization**: - Plans to introduce ads on Rumble Shorts in Q3/Q4 2026, with a focus on maintaining a low ad load to support user growth [29][61] - A partnership with Tether aims to provide advertising support for new creators using Rumble Studio, enhancing monetization opportunities [51][54] - **Market Positioning**: - Rumble aims to leverage its unique user base and content offerings to differentiate itself from competitors like Twitch and YouTube [37][118] - The company is actively working on expanding its audience through targeted advertising and content diversification [61][62] Challenges and Risks - **Regulatory Concerns**: - Potential issues with censorship laws in Europe, which may impact Rumble's operations and content policies [79][80] - The competitive landscape in the sports streaming sector is noted as challenging due to high costs and investment requirements [99] Additional Insights - **Community Engagement**: - The platform has cultivated a strong community, which is seen as a competitive advantage for attracting advertisers [36] - The return of prominent streamers like Dan Bongino and Asmongold is expected to further boost platform visibility and engagement [30][41] - **Future Outlook**: - The company is optimistic about 2026, with expectations of capturing a larger audience and enhancing its product offerings [18][19][45] - Rumble is focusing on improving its AI capabilities for content management and user experience [90][91] This summary encapsulates the key points discussed during the Rumble update call, highlighting the company's growth trajectory, strategic initiatives, and market positioning.

Financial Data and Key Metrics Changes - For the full year 2025, the company reported revenues of $100.6 million, a 5% increase from $95.5 million in 2024, marking the first time achieving the $100 million milestone [14] - In Q4 2025, revenues were $27.1 million, a sequential increase of 9% from $24.8 million in Q3 2025, but a year-over-year decrease of $3.2 million [15] - Average Revenue Per User (ARPU) increased to $0.46 for Q4, up 2% sequentially from Q3 2025 [16] - Adjusted EBITDA loss for Q4 was $16 million, compared to a loss of $13.4 million in Q4 2024, while the full year adjusted EBITDA loss improved to $74.3 million from $92.1 million in 2024 [17] Business Line Data and Key Metrics Changes - Audience monetization revenues decreased by $5.5 million in Q4, partially offset by a $2.7 million increase in subscription and licensing fees [15] - The company introduced Rumble Shorts, which achieved over 1 million unique video views in a single day shortly after launch, indicating strong user engagement [6][12] Market Data and Key Metrics Changes - Monthly Active Users (MAUs) reached 52 million in Q4, an 11% sequential increase driven primarily by international growth [16] - The company noted that international monetization remains low compared to the U.S. market, indicating potential for future growth [31] Company Strategy and Development Direction - The company is focused on aggressive growth, particularly in video advertising and cloud services, with a strategic emphasis on capturing ad dollars from major brands [3][23] - The acquisition of Northern Data is expected to close in Q2 2026, which the company believes will be transformative for its revenue profile [9][11] - The company plans to leverage a $50 million per year advertising deal with Tether to attract major influencers and podcasters to the platform [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth returning as the company enters a midterm election year, with a favorable advertising market and strong user engagement [5][11] - The company anticipates that the advertising commitment from Tether will ramp up significantly in the second and third quarters of 2026 [11][18] Other Important Information - The company ended Q4 with total liquidity of $256.4 million, including $237.9 million in cash and cash equivalents [18] - The company is actively working on building a professionalized sales operation to convert its reach into high-value brand partnerships [7] Q&A Session Summary Question: How does the addition of Greg Sherrill as President of Sales change the go-to-market strategy? - Management indicated that the strategy will shift to a more proactive approach in securing ad dollars from major agencies, moving from a defensive to an offensive strategy [21][23] Question: How might Rumble Shorts serve as a catalyst for advertising revenue? - Management plans to initially keep advertising off Rumble Shorts to maximize growth, with a strategy to integrate ads later in the year [24][25] Question: What is the current relationship with Dan Bongino? - Management confirmed that Dan Bongino's content is now exclusively available on Rumble, differing from prior arrangements [26] Question: What are the drivers behind advertising sales growth? - Management expects ad sales to ramp up later in 2026, with a focus on securing bookings and monetizing inventory through new ad units [41] Question: What is the status of the Northern Data acquisition? - Management confirmed that the acquisition is on track to close in Q2 2026, with all processes running on schedule [34] Question: How will Tether's $150 million commitment be prioritized? - Management stated that Tether will be treated like any other customer, with a focus on fulfilling their demand while also accommodating other clients [51][53]

Financial Data and Key Metrics Changes - For the full year 2025, the company reported revenues of $100.6 million, an increase of 5% compared to $95.5 million in 2024, marking the first time achieving this $100 million milestone [14] - In Q4 2025, revenues were $27.1 million, a sequential increase of 9% from $24.8 million in Q3 2025, but a year-over-year decrease of $3.2 million [15] - Average Revenue Per User (ARPU) increased to $0.46 for Q4, up 2% sequentially from Q3 2025 [16] - Adjusted EBITDA loss for Q4 was $16 million, compared to a loss of $13.4 million in Q4 2024, while the full year adjusted EBITDA loss improved to $74.3 million from $92.1 million in 2024 [17] Business Line Data and Key Metrics Changes - Audience monetization revenues decreased by $5.5 million in Q4, driven by reductions in advertising, tipping, and platform hosting fees, partially offset by a $2.7 million increase in subscription and licensing fees [15] - The company introduced Rumble Shorts, which achieved over 1 million unique video views in a single day shortly after launch, indicating strong user engagement [6][12] Market Data and Key Metrics Changes - Monthly Active Users (MAUs) reached 52 million for Q4, an 11% sequential increase from Q3, primarily driven by international growth [16] - The company noted that international monetization remains low compared to the U.S. market, indicating potential for future growth [31] Company Strategy and Development Direction - The company is focused on aggressive growth in 2026, leveraging new product initiatives and a strengthened sales operation [3][11] - The acquisition of Northern Data is expected to close in Q2 2026, which the company believes will be transformative for its revenue profile [9][11] - The strategy includes using a $100 million advertising commitment from Tether to attract major influencers and podcasters to the platform [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth returning, particularly in the context of the upcoming midterm elections and a favorable advertising market [5][11] - The company is preparing to capitalize on the demand for GPU-as-a-service, with Northern Data's strong GPU utilization indicating high market demand [10][12] Other Important Information - The company ended Q4 with total liquidity of $256.4 million, including $237.9 million in cash and cash equivalents [18] - The company plans to market Rumble Shorts heavily due to positive early responses from users [6] Q&A Session Summary Question: How does the addition of Greg Sherrill as President of Sales change the go-to-market strategy? - Management indicated that the strategy will shift to a more proactive approach in securing ad dollars from major agencies, moving away from a previously defensive stance [21][23] Question: How might Rumble Shorts serve as a catalyst for advertising revenue? - Management plans to initially keep advertising off Rumble Shorts to maximize growth, with plans to integrate ads later in the year [24][25] Question: What is the status of the Northern Data acquisition? - Management confirmed that the acquisition is on track to close in Q2 2026, with all processes running on schedule [33][34] Question: How will Tether's $150 million commitment be prioritized? - Management stated that Tether will be treated like any other customer, with the intent to grow the business and meet demand from all clients [51][53] Question: What is the potential for NFL business in the cloud space? - Management sees long-term growth potential in the sports category as teams begin to utilize cloud services for data analysis and content storage [55][56]

Financial Data and Key Metrics Changes - For the full year 2025, the company reported revenues of $100.6 million, an increase of 5% compared to $95.5 million in 2024, marking the first time achieving the $100 million milestone [12] - In Q4 2025, revenues were $27.1 million, a sequential increase of 9% from $24.8 million in Q3 2025, but a year-over-year decrease of $3.2 million [13] - Average Revenue Per User (ARPU) increased to $0.46 for Q4, up 2% sequentially from Q3 2025 [14] - Adjusted EBITDA loss for Q4 was $16 million, compared to a loss of $13.4 million in Q4 2024, while the full year adjusted EBITDA loss improved to $74.3 million from $92.1 million in 2024 [15] Business Line Data and Key Metrics Changes - Audience monetization revenues decreased by $5.5 million in Q4, driven by lower advertising, tipping, and platform hosting fees, partially offset by a $2.7 million increase in subscription and licensing fees [13] - Cost of services in Q4 decreased 26% year-over-year to $25.6 million, primarily due to an $8.8 million reduction in programming and content expenses [14] Market Data and Key Metrics Changes - Monthly Active Users (MAUs) reached 52 million for Q4, an 11% sequential increase from Q3, primarily driven by international growth [14] - The company noted that international monetization remains low compared to the U.S. market, indicating potential for future growth [29] Company Strategy and Development Direction - The company is focused on aggressive growth, particularly in video and cloud services, with the launch of Rumble Shorts and the acquisition of Northern Data expected to be transformative [3][9] - The strategy includes leveraging a $100 million advertising commitment from Tether to attract major influencers and podcasters to the platform [8] - The company aims to reposition itself within the advertising ecosystem and build a professionalized sales operation to convert its reach into high-value brand partnerships [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth returning as the company enters a midterm election year, with a strong state for the video platform to capture audience growth [11] - The acquisition of Northern Data is expected to close in Q2 2026, which management believes will redefine the company's revenue profile [11] - Management highlighted the strong demand for GPU-as-a-service and the positive reception from customers and suppliers regarding the Northern Data acquisition [10] Other Important Information - The company ended the quarter with total liquidity of $256.4 million, including $237.9 million in cash and cash equivalents and $18.5 million in Bitcoin holdings [16] - The company plans to market Rumble Shorts heavily due to its early success, which includes breaking the 1 million unique video views milestone in a single day shortly after launch [6] Q&A Session Summary Question: How does the addition of Greg Sherrill as President of Sales change the go-to-market strategy? - Management indicated that the strategy will shift to a more proactive approach in securing ad dollars from major agencies, moving away from a previously defensive stance [19][20] Question: How might Rumble Shorts serve as a catalyst for advertising revenue? - Management plans to keep advertising off Rumble Shorts initially to focus on growth, with plans to integrate ads later in the year [22][23] Question: What is the status of the Northern Data acquisition? - Management confirmed that the acquisition is on track to close in Q2 2026, with all processes running on schedule [32][33] Question: How will Tether's commitment be prioritized? - Management stated that Tether will be treated like any other customer, with the intent to grow the business and meet demand from all clients [51][53] Question: What is the potential for NFL business in cloud services? - Management sees long-term potential in the sports sector as teams begin to utilize cloud services for data analysis and content storage [55][56]

Core Insights - Rumble Inc. has achieved over $100 million in annual revenue for the first time in its history, with Q4 2025 revenue reported at $27.1 million, a 9% increase from the previous quarter [1][4] - The company reported 52 million average Monthly Active Users (MAUs) in Q4 2025, reflecting an 11% sequential growth, primarily driven by international expansion efforts [1][4] - Rumble Shorts, a recently launched feature, has surpassed 1 million daily unique video views, indicating strong user engagement [1][5] - The company is on track to complete the acquisition of AI infrastructure company Northern Data by Q2 2026, which is expected to enhance Rumble's cloud and GPU capabilities [1][4] Financial Performance - Q4 2025 revenue was $27.1 million, down 10% from $30.2 million in Q4 2024, with a notable decrease in Audience Monetization revenues [4][6] - Average Revenue Per User (ARPU) for Q4 2025 was $0.46, a 2% increase from the previous quarter [4] - The net loss for Q4 2025 was $32.7 million, significantly improved from a loss of $236.8 million in Q4 2024, largely due to a prior year's derivative expense [4][6] - Adjusted EBITDA for Q4 2025 was a loss of $16.0 million, compared to a loss of $13.4 million in Q4 2024 [4] Strategic Developments - Rumble secured a $100 million advertising commitment from Tether, structured as $50 million per year over two years, aimed at enhancing creator monetization and advertising solutions [4][5] - The company signed a business combination agreement to acquire Northern Data, which will significantly expand Rumble Cloud's compute footprint with approximately 22,400 NVIDIA GPUs [4][5] - A strategic partnership with Perplexity was announced to improve video discovery on Rumble, integrating AI-powered search tools into the platform [4][5] - Rumble Cloud has partnered with the NFL's Cleveland Browns for video cloud storage and infrastructure services, marking a significant milestone in sports media partnerships [4][5] Management Commentary - Rumble's CEO, Chris Pavlovski, emphasized that the company has reached an inflection point, with investments in platform stability and creator monetization beginning to yield results [5]

Core Viewpoint - Rumble Inc. has successfully launched Rumble Shorts on both iOS and Android platforms, enhancing its accessibility for users and reinforcing its commitment to free speech and content creator support [1][2][3] Group 1: Product Launch - Rumble Shorts has been approved by the Apple App Store, allowing iPhone users to download or update their Rumble apps to access Rumble Shorts [1] - Rumble Shorts was previously launched on the web and has already been approved for Android devices via Google Play, making it available across desktop and mobile platforms [2] Group 2: Company Mission and Vision - Rumble aims to protect a free and open internet, emphasizing customer independence and free speech as foundational principles of its platform [3] - The CEO of Rumble, Chris Pavlovski, highlighted that Rumble Shorts provides quick, easy-to-consume videos while supporting creators in expanding their audiences and increasing earnings [3]

Core Viewpoint - Rumble Inc. has successfully launched Rumble Shorts on Google Play, allowing Android users to access short-form video content, with plans to submit the app to the Apple App Store soon [1][2]. Group 1: Product Launch - Rumble Shorts has been approved for Android users, enabling them to download or update their Rumble apps [1]. - The web version of Rumble Shorts was launched at rumble.com/shorts prior to the mobile app rollout [1]. - The final phase of the rollout will include submission to the Apple App Store for approval next week [1]. Group 2: User Experience and Feedback - Rumble's CEO, Chris Pavlovski, highlighted the positive feedback received since the unveiling of Rumble Shorts, emphasizing the importance of mobile app experience for short-form vertical video [2]. - The platform aims to provide a user experience similar to other short-form content platforms while adhering to Rumble's freedom-first mission [2]. Group 3: Company Mission - Rumble is positioned as a Freedom-First technology platform dedicated to protecting a free and open internet, encompassing cloud, AI, and digital media services [3]. - The company's foundation is built on principles of customer independence and free speech [3].

Core Viewpoint - Rumble Inc. has launched Rumble Shorts, a new platform for short-form videos, emphasizing its commitment to free speech and creator monetization [1][3]. Group 1: Product Launch - Rumble Shorts is now available on the web and will be launched on mobile apps later this month [1]. - The platform features short vertical videos that are 90 seconds or less, presented in a continuous, swipeable feed [2][3]. Group 2: User Engagement and Monetization - Users can easily consume content from their favorite creators, discover new ones, and send tips through Rumble Wallet, which supports platform growth and monetization [2]. - Rumble Shorts aims to enhance creator discovery and provide more opportunities for creators to grow and earn revenue [3]. Group 3: Company Mission - Rumble positions itself as a "Freedom-First technology platform," dedicated to protecting free expression and customer independence [4].