Rumble Inc ( (RUM) ) has released its Q4 earnings. Here is a breakdown of the information Rumble Inc presented to its investors.
Rumble Inc. is a video-sharing platform and cloud services provider, known for its commitment to creating an independent infrastructure and promoting free and open internet access. In its latest earnings report, Rumble announced a significant 48% increase in revenue for the fourth quarter of 2024, reaching $30.2 million. The company also reported a strategic investment of $775 million from Tether, which bolstered its financial position and supported growth initiatives.
Key financial metrics from the report include an increase in Monthly Active Users (MAUs) to 68 million, with a notable 21% growth in the U.S. and Canada. The Average Revenue Per User (ARPU) rose by 18% to $0.39, driven by higher advertising and subscription revenues. Despite a net loss of $236.8 million for the quarter, primarily due to derivative expenses linked to Tether’s investment, Rumble showed improvement in adjusted EBITDA, reducing its loss by $16.6 million compared to the previous year.
The company also highlighted several strategic moves, including a $20 million investment in Bitcoin and partnerships with high-profile content creators like Dr Disrespect and Tim Pool. Additionally, Rumble secured a cloud services agreement with the Government of El Salvador and launched an official channel for the White House on its platform.
Looking ahead, Rumble’s management is optimistic about achieving revenue growth of at least 25% in the first quarter of 2025. With the new capital from Tether, the company aims to accelerate its growth initiatives and move towards adjusted EBITDA breakeven within the year.