Rumble (RUM) investor relations material

Executive summary

• Q1 2026 revenue reached $25.5 million, up 7% year-over-year, driven by audience monetization, international expansion, and higher subscription and advertising revenue, but net loss widened to $30.3 million due to higher expenses and non-cash items.

• MAUs grew to 56 million, up 8% sequentially, with Rumble Shorts and global reach as key contributors, though ARPU declined 13% to $0.40 as user growth outpaced monetization.

• Preparing for a major transformation with the closing of the Northern Data acquisition, positioning cloud as a new revenue pillar alongside video, with 81.3% of shares secured and closing expected mid-June 2026.

• Launched Rumble Wallet in partnership with Tether, with a $100 million advertising commitment and support for multiple cryptocurrencies.

• Appointed Michael Masci as CFO, bringing AI and cloud expertise.

Financial highlights

• Q1 2026 revenue was $25.5 million, up $1.8 million year-over-year, with cost of services declining 10% to $27 million due to lower programming and content costs.

• General and administrative expenses fell 37% to $10.4 million, driven by lower payroll and professional fees.

• Research and development expenses rose 20% to $5.7 million; sales and marketing expenses increased 134% to $8.5 million.

• Adjusted EBITDA loss improved to $21 million from $22.7 million year-over-year; net loss widened to $30.3 million from $2.7 million, mainly due to non-cash items and acquisition costs.

• Ended Q1 with $233.4 million in liquidity, including $219 million in cash and 210.82 Bitcoin valued at $14.4 million.

Outlook and guidance

• Northern Data acquisition expected to close in June 2026, with all regulatory approvals secured and 81.3% of shares acquired; ND reported Q1 revenue of EUR 43 million and confirmed FY 2026 revenue outlook of EUR 130–150 million.

• Combined pro forma Q1 2026 revenue for Rumble and Northern Data estimated at $75 million.

• Monetization of Rumble Shorts and scaling of Tether ad commitment expected in the second half of 2026.

• No formal guidance provided for the combined company; previous forecasts are not to be considered guidance.

• Anticipates increased advertising revenue around the midterm and presidential elections, with new boosting features launching in summer.