Rumble Inc. Q1 FY2025 Earnings Call

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Rumble Inc. Q1 2025 Earnings Summary

  • Revenue: $23.7 million, a 34% increase compared to Q1 2024 ($17.7 million). Growth driven by higher subscription revenue (+$3.6M), tipping fees, licensing, platform hosting & advertising (+$1M), and expanded monetization of publisher network and cloud services.
  • Monthly Active Users (MAUs): 59 million in Q1 2025. This reflects 87% retention from Q4 2024, a significant improvement from 60% retention in Q1 2023 following the 2022 U.S. midterm elections. This is Rumble’s 13th straight quarter with over 40M MAUs and 7th consecutive quarter with over 50M.
  • ARPU: $0.34 in Q1 2025, down from $0.39 in Q4 2024, primarily due to lower advertising revenue, partially offset by higher subscription revenue.
  • Cost of Services: $30 million, down from $31.8 million in Q1 2024. Programming and content costs fell by $3 million, offset by a $1.2 million increase in other service costs including payment processing and publisher payouts.
  • General & Administrative Expenses: $16.6 million, up $7.3 million YoY primarily due to two one-time payroll-related events: a $4.8 million executive and director departure (mostly non-cash), and $2.3 million in payroll taxes tied to the Tether investment.

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Operator: Good afternoon, ladies and gentlemen, and welcome to Rumble Incorporated's First Quarter 2025 Earnings Call. All participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Shannon Devine, investor relations for Rumble. Please go ahead. Shannon Devine : Thank you, operator. I'm here today with Chris Pavlovski, Founder, Chairman, and CEO of Rumble, and Brandon Alexandroff, CFO. A press release detailing our first quarter 2025 results was released today and available on the investor relations section of our website. Before we begin the formal presentation, I would like to remind everyone that statements made on this call 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 call 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 the company's identified social media channel. I will now turn the call over to Rumble's Founder, Chairman, and CEO, Chris Pavlovski. Chris Pavlovski : Thanks, Shannon. Our first quarter marked the beginning of a new era where we turned the page from a U.S. election and solidified our balance sheet with the close of

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