Financial Data and Key Metrics Changes - The company reported revenues of $25,100,000, representing a 12% increase year over year, driven by a $1,700,000 increase in audience monetization revenues and a $900,000 increase in other initiatives [21][22] - Adjusted EBITDA loss improved to $20,500,000 compared to a loss of $28,700,000 last year, an $8,200,000 improvement primarily related to the increase in revenue and expiration of programming and content agreements [22] - 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 [23] Business Line Data and Key Metrics Changes - Audience monetization revenue increased due to Rumble Premium and local subscriptions, licensing, and tipping, offset by a decline in advertising revenue [21] - ARPU increased to $0.42, up 24% sequentially, indicating enhanced monetization strategy attributable to higher subscription and licensing revenue [22] 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 number in Q2 2023 [9] - The company is seeing increased interest in its cloud business, entering RFP processes with multiple governments and corporate entities, competing with major players like Amazon and Google [50] Company Strategy and Development Direction - The company is focused on M&A strategy and evaluating strategic opportunities, including a potential acquisition of AI company Northern Data [5][6] - The launch of Rumble Wallet is anticipated to drive growth for Rumble's video platform, both domestically and internationally, with a focus on onboarding new creators [15][19] - The company aims for aggressive growth while protecting a free and open Internet, leveraging partnerships, particularly with Tether [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of advertising revenue, indicating that CPMs are expected to rise in future quarters [28] - The company is optimistic about the impact of Rumble Wallet on MAU growth, especially in international markets [45][46] - Management highlighted the importance of partnerships in driving future growth and the positive momentum in building out these partnerships [12][16] Other Important Information - The company is experiencing a shift in corporate America, which is seen as a potential tailwind for growth, with notable partnerships being formed [10][11] - The company is actively working on integrating AI into its cloud business, which is viewed as a significant growth opportunity [17][18] Q&A Session Summary Question: Update on advertising growth and RAC - Management confirmed that advertising remains a high priority and is seeing increased publisher inventory coming into RAC, indicating potential growth opportunities [28][29] Question: Onboarding new creators - The company plans to onboard creators using Rumble Studio, which allows multi-streaming across platforms, incentivizing them to promote Rumble Wallet [30][31] Question: Path to positive gross profit and EBITDA - Management indicated that with current financial resources and partnerships, the company is moving towards adjusted EBITDA breakeven, though aggressive growth remains a priority [34][35] Question: MAU evolution and ARPU growth - Management expressed satisfaction with MAU growth, especially without the presence of a major creator, and attributed ARPU growth to successful execution of Rumble Premium [39][40] Question: Marketing initiatives for Rumble Wallet - The marketing strategy will involve both Rumble creators and off-platform initiatives to drive growth for both Rumble Wallet and the video platform [42][43]