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Rumble
(NASDAQ:RUM)
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Rating:55Neutral
Price Target:
$9.50
▲(66.37% Upside)
Action:Reiterated
Date:08/24/26
The score is held back primarily by weak financial performance—large losses and ongoing cash burn—despite solid revenue growth. Offsetting this, the earnings call and recent contracts support a stronger forward narrative around AI infrastructure expansion and guidance, while technicals show an uptrend but with overbought signals. Valuation remains constrained by negative earnings and no dividend yield.
Positive Factors
Platform Revenue Growth
Strong revenue growth, expanding users and higher ARPU indicate improving platform adoption and monetization. Sustained engagement can increase advertising inventory and support a larger recurring revenue base over the next several quarters.
Negative Factors
Deep Unprofitability
Rumble remains far from profitability despite strong top-line growth. Deep losses and rising operating expenses indicate that scale has not yet produced operating leverage, leaving earnings dependent on successful cost control and monetization.
Read all positive and negative factors
Positive Factors
Negative Factors
Platform Revenue Growth
Strong revenue growth, expanding users and higher ARPU indicate improving platform adoption and monetization. Sustained engagement can increase advertising inventory and support a larger recurring revenue base over the next several quarters.
Read all positive factors
Rumble (RUM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.49B
Dividend YieldN/A
Average Volume (3M)3.06M
Price to Earnings (P/E)―
Beta (1Y)2.28
Revenue Growth13.05%
EPS Growth59.37%
CountryUS
Employees156
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-0.59
Shares Outstanding276,328,580
10 Day Avg. Volume2,157,226
30 Day Avg. Volume3,055,320
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)5.86
Price to Sales (P/S)16.00
P/FCF Ratio-21.61
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$22.00Price Target Upside285.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.52
Revenue Forecast (FY)$196.36M
Rumble Business Overview & Revenue Model
Company Description
Rumble Inc. provides video sharing and cloud services platform in the United States, Canada, and internationally. The company offers Rumble Video, a free and subscription-based video sharing platform; Rumble Studio, a multi-platform livestreaming ...
How the Company Makes Money
Rumble primarily generates revenue from (1) advertising and related platform monetization, (2) licensing and distribution arrangements, and (3) cloud and platform services.
1) Advertising and platform monetization: Rumble earns advertising revenu...
Rumble Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Positive
The call conveyed a transformational and growth‑oriented narrative: record revenue growth (61% YoY), a strategic acquisition that materially expanded GPU capacity (~22,000 GPUs) and led to the formation of Quake AI, improved utilization (>85%), a marquee customer contract, formal Q3 guidance ($87M–$93M) and solid liquidity. Offsetting these positives were a substantially wider net loss ($80.3M) driven by one‑time acquisition costs and higher noncash D&A, rising operating expenses, ongoing adjusted EBITDA losses, heavy near‑term CapEx and execution/supply risks to monetize targeted capacity. On balance the highlights—large revenue growth, meaningful strategic assets and clear pathway to much larger AI revenue—materially outweigh the current lowlights tied largely to integration and investment costs and execution risk.Positive Updates
Record Revenue and Strong YoY Growth
Q2 2026 revenue of $40.4 million, up 61% year‑over‑year from $25.1 million in Q2 2025; company called it an all‑time record and expects another record in the upcoming quarter.
Negative Updates
Wide Net Loss Driven by Acquisition and Noncash Charges
Net loss for Q2 was $80.3 million (or $79.1 million attributable to RUM Group), vs. a $30.2 million loss in Q2 2025. Year‑over‑year increase primarily driven by $28.3 million of acquisition‑related transaction costs and higher noncash depreciation and amortization following the Northern Data acquisition.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Strong YoY Growth
Q2 2026 revenue of $40.4 million, up 61% year‑over‑year from $25.1 million in Q2 2025; company called it an all‑time record and expects another record in the upcoming quarter.
Read all positive updates
Company Guidance
Management issued its first formal revenue guidance of $87–$93 million for Q3 2026 (the first full quarter including Quake AI) and will move to segment reporting (Rumble Video and Quake AI) starting in Q3 rather than reporting company-level MAU/ARPU; for context Q2 revenue was $40.4M (+61% YoY from $25.1M), adjusted EBITDA loss was $16.6M (improved from a $20.5M loss), net loss was $80.3M, total liquidity was $220.5M (cash $203.3M plus 293.14 BTC valued at roughly $17.2M), and investing activities included about $47M of IT CapEx — Rumble reported 57M average monthly active users and ARPU of $0.48 (+20% QoQ), while Quake AI brings ~22,000 NVIDIA H100/H200 GPUs running >85% utilization, a Together AI HGX B300 agreement, and 250 MW of targeted power for 2027 (including ~180 MW near Atlanta, ~50 MW in Sweden and ~20 MW in Norway) which the company says represents a $3B+ annual run‑rate opportunity.Rumble Financial Statement Overview
Summary
Income Statement
27
Negative
Balance Sheet
58
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 117.66M | 100.62M | 95.49M | 80.96M | 39.38M | 9.47M |
| Gross Profit | 24.92M | 14.24M | -42.98M | -65.19M | -4.36M | 1.66M |
| EBITDA | -96.06M | -67.20M | -326.76M | -131.47M | -32.40M | -10.37M |
| Net Income | -158.37M | -81.83M | -338.36M | -116.42M | -11.40M | -13.41M |
Balance Sheet | ||||||
| Total Assets | 2.12B | 336.85M | 195.31M | 295.71M | 366.98M | 55.80M |
| Cash, Cash Equivalents and Short-Term Investments | 203.27M | 237.92M | 114.02M | 219.47M | 338.27M | 46.85M |
| Total Debt | 501.78M | 1.91M | 1.80M | 2.61M | 1.42M | 1.51M |
| Total Liabilities | 698.47M | 62.00M | 258.43M | 44.09M | 27.35M | 25.43M |
| Stockholders Equity | 1.34B | 274.84M | -63.12M | 251.62M | 339.63M | 30.37M |
Cash Flow | ||||||
| Free Cash Flow | -153.97M | -74.50M | -89.68M | -107.48M | -41.33M | -7.15M |
| Operating Cash Flow | -106.20M | -70.43M | -87.01M | -92.91M | -32.29M | -5.31M |
| Investing Cash Flow | -276.60K | -26.05M | -15.64M | -23.77M | -10.14M | 1.58M |
| Financing Cash Flow | 25.53M | 220.39M | -1.67M | -2.15M | 332.79M | 49.13M |
Rumble Technical Analysis
Positive
5.71
Price Trends
6.63
Positive
6.88
Positive
6.47
Positive
Market Momentum
0.60
Negative
76.73
Negative
93.09
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RUM, the sentiment is Positive. The current price of 5.71 is below the 20-day moving average (MA) of 6.93, below the 50-day MA of 6.63, and below the 200-day MA of 6.47, indicating a bullish trend. The MACD of 0.60 indicates Negative momentum. The RSI at 76.73 is Negative, neither overbought nor oversold. The STOCH value of 93.09 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RUM.
Rumble Risk Analysis
Rumble disclosed 52 risk factors in its most recent earnings report. Rumble reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rumble Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.70B | 29.87 | 357.13% | ― | 32.38% | ― | |
71 Outperform | $13.25B | 66.86 | 6.50% | ― | 16.64% | -87.65% | |
61 Neutral | $8.86B | -28.36 | -14.61% | ― | 12.65% | 42.94% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
55 Neutral | $4.49B | -15.28 | -29.27% | ― | 13.05% | 59.37% | |
52 Neutral | $369.51M | -0.73 | -110.37% | ― | -13.33% | 45.52% |
* Communication Services Sector Average
RUM
Rumble
9.05
1.49
19.71%
SNAP
Snap
5.24
-1.76
-25.14%
PINS
Pinterest
23.40
-12.11
-34.10%
GRND
Grindr
15.53
-0.08
-0.51%
BMBL
Bumble
2.80
-3.61
-56.32%
Rumble Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Rumble Signs Major GPU Cloud Services Agreement
Negative
Aug 24, 2026
On August 23, 2026, RUM Group Inc. entered into a six-year commercial agreement with an unaffiliated U.S. cloud customer for GPU services at its under-development Maysville, Ga., data center, covering three tranches with a total order value of abo...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Rumble Reports Record Revenue Amid AI Expansion Strategy
Positive
Aug 10, 2026
In the fiscal quarter ended June 30, 2026, RUM Group Inc. reported record revenue of $40.4 million, up 61% year-on-year and 58% quarter-on-quarter, with $30.3 million coming from its Rumble video business and $10.1 million contributed by the recen...
Business Operations and StrategyPrivate Placements and Financing
Rumble Secures Major Tether Financing and Warrant Deal
Positive
Jun 18, 2026
On June 18, 2026, Rumble, through its newly formed Irish subsidiary Rumble Freedom First Holding Limited, entered into a secured five-year term credit facility with Tether totaling €317.53 million, linked to Tether’s existing floating ...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Rumble Closes Northern Data Deal, Expands AI Infrastructure
Positive
Jun 17, 2026
On June 17, 2026, Rumble closed its acquisition of Northern Data AG, taking its ownership to about 85.2% of the German AI and high-performance computing infrastructure provider and securing access to roughly 250 MW of energized and planned power a...
Executive/Board ChangesShareholder Meetings
Rumble Shareholders Elect Directors, Ratify 2026 Auditor
Neutral
Jun 15, 2026
Rumble Inc., a digital media and online video platform focused on user-generated content, operates as an alternative to mainstream tech platforms with an emphasis on creator monetization and fewer content restrictions. The company serves a growing...
Business Operations and Strategy
Rumble Secures Record Multi-Year $270 Million GPU Cloud Deal
Positive
Jun 4, 2026
On June 3, 2026, Rumble Inc. announced that it had entered into a multi-year agreement worth $270 million with a third-party cloud customer, marking the largest customer commitment in the company’s history. The deal centers on the customer&#...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.