Rumble Inc. Q4 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Overview

  • Rumble announced Q4 and full-year 2025 results, highlighting renewed platform growth, product upgrades, advertising momentum, and transformative cloud initiatives led by the pending Northern Data acquisition.
  • Management emphasized 2026 as an inflection point, with significant catalysts expected in video, ads, and cloud/GPU-as-a-service.

Key Quarterly & Annual Financial Results

  • Full-year 2025 revenue: $100.6M, up 5% from $95.5M in 2024 (first year above $100M).
  • Q4 2025 revenue: $27.1M, up 9% sequentially (from $24.8M in Q3), but down $3.2M YoY.
  • Drivers of YoY decline:
    • $5.5M decrease in ad, tipping, and platform hosting fees.
  • ARPU: $0.46 in Q4, up 2% sequentially.
  • Global MAUs: 52M, up 11% sequentially (international expansion boosted growth).
  • Cost of services:
    • Q4: $25.6M, down 26% YoY, driven by reduced programming/content spend.
    • Full-year: down $31.1M.
  • Adjusted EBITDA loss:
    • Q4: -$16M (vs. -$13.4M YoY).
    • Full year: -$74.3M (improved from -$92.1M in 2024).
  • Net loss:
    • Q4: -$32.7M (vs. -$236.8M YoY; prior year included a non-cash derivative liability adjustment).
  • Liquidity: $256.4M (includes $237.9M cash & $18.5M Bitcoin holdings).

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Operator: Good afternoon, ladies and gentlemen, and welcome to the Rumble Inc.'s Q4 2025 Earnings Call -- Conference Call. [Operator Instructions]. This call is being recorded on March 5, 2026. 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 fourth quarter and full year 2025 results was released today and available on our Investor Relations 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 company's 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 channels. I will now turn the call over to Rumble's Founder, Chairman and CEO, Chris Pavlovski. Christopher Pavlovski: Good afternoon, everyone, and thank you for joining us. 2025 was a year where my team went heads down building and expanding the Rumble product, building out our sales operation and putting together assets that would transform Rumble into an impactful play

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