Rumble Inc. Q4 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

  • Total Revenue: $20.4 million in Q4 2023, up slightly from $20 million in Q4 2022. Full-year 2023 revenue was $81 million, a 106% increase from $39.4 million in 2022.
  • Revenue Composition: Q4 2023 saw a $3.5 million increase in other services (subscriptions, licensing, tipping, etc.), offset by a $3.1 million decline in advertising revenue.
  • Cost of Services: Q4 2023 costs reached $39.5 million, up from $23.5 million in Q4 2022. The increase was driven by:
    • Programming/content costs (+$14 million)
    • Hosting/other service costs (+$2 million)
  • Cash Position: $219.5 million in cash, cash equivalents, and marketable securities as of year-end, down from $267 million at the end of Q3 2023.
  • Monetization Strategy: Monetization tools—from RAC (Rumble Advertising Center) and subscription integration via Locals.com to Rumble Studio and Rumble Cloud—are now live, with revenue ramp expected in Q2 2024 and meaningful sequential growth in H2 2024.
  • Monthly Active Users (MAUs): Spiked to 67 million in Q4 2023, driven by events like Street League Skateboarding. Core audience of 40+ million MAUs remains stable.

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Operator: Greetings. Welcome to Rumble Inc. Fourth Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to, 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 fourth quarter and full-year 2023 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 risk factors included in our filings with the SEC. Future Company updates will be available via press releases 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. Chris Pavlovski: Thank you, Shannon. To start, I want to talk about 2023, our building year as a Company. In addition to success

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