Rumble Inc. Q1 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: Reported $17.7 million in Q1 2024, a slight increase from $17.6 million in Q1 2023.
  • Revenue Mix Shift: $3.2 million increase in services and cloud revenue was offset by a $3.1 million decrease in advertising revenue. Cloud revenue driven by subscriptions, tipping features, and initial cloud services.
  • New Business Initiatives:
    • Rumble Cloud: Launched in Q1, with partnerships secured with ACP CreativIT and Qinshift. Early enterprise/mid-market traction; meaningful revenue expected in H2 2024.
    • Rumble Studio: Adopted by over 2,000 creators, including high-profile names. Allows multistreaming, guest interaction, and monetization via host-read ads. Tied to branded product lines like 1775 Coffee, which saw monthly growth (March up 43% over February, April up 68% over March).
    • Rumble Advertising Center (RAC): Deployed pre-roll video ads across mobile apps. Onboarded publishers like Breitbart, The Gateway Pundit, and Drudge Report. Seeing growing traction and increased publisher inventory.
  • MAUs: Averaged 50 million in Q1 2024, marking the ninth consecutive quarter of over 40 million MAUs.

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Operator: Greetings, and welcome to the Rumble Inc. First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Shannon Devine, Investor Relations. Thank you. You may begin. Shannon Devine: Thank you, operator. I'm here today with Chris Pavlovski, Founder, Chairman and CEO of Rumble; Brandon Alexandroff, the CFO; and Tyler Hughes, the COO. A press release detailing our first quarter 2024 results was released today and available on the Investor Relations section of our company website. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast may include predictions, estimates or other information that might be considered forward-looking. All forward-looking statements are made only as of the date of this webcast and should be considered in conjunction with the cautionary statements in our earnings release and the factors included in our filings with the SEC. Future company updates will be available via press release and company updates via the company's identified social media channels. I will now turn the call over to Rumble's Founder, Chairman and CEO, Chris Pavlovski. Christopher Pavlovski: Thank you, Shannon. Though it hasn't been long since our last update, I would like to reiterate the major achievements of our first quarter, led by the public launch of Rumble Cloud and Rumble Studio. While both products

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