Rumble Inc ( (RUM) ) has released its Q3 earnings. Here is a breakdown of the information Rumble Inc presented to its investors.
Rumble Inc., a video-sharing platform and cloud services provider, is known for its commitment to fostering an open and free internet by supporting independent creators, operating primarily in the digital media and cloud services sectors.
The company reported record revenues for the third quarter of 2024, totaling $25.1 million, marking a notable 39% increase from the previous year. Rumble also achieved a significant milestone in user growth, with its Monthly Active Users (MAUs) reaching 67 million, a 26% increase from the previous quarter.
Key financial achievements include a 12% sequential revenue increase, driven by higher advertising and subscription revenues, despite a slight decline in Average Revenue Per User (ARPU) due to rapid user growth. Rumble also reported a net loss of $31.5 million, which is slightly higher than the previous year, although their Adjusted EBITDA showed a significant improvement with a reduced loss of $23.5 million. Additionally, the company has successfully decreased its cash usage for four consecutive quarters, reflecting improved financial discipline.
Looking forward, Rumble remains optimistic about continued revenue growth and is committed to moving towards Adjusted EBITDA breakeven in 2025, as it continues to enhance monetization strategies and maintain a disciplined cost structure.
