RUM · Rumble Inc.

Rumble Inc. delivered record first-quarter revenue of $25.5 million for the period ended March 31, 2026, marking 7% growth from $23.7 million in Q1 2025, primarily fueled by a $2.6 million rise in Audience Monetization revenues. This was driven by $1.2 million higher subscriptions, $1.1 million from advertising, and $0.3 million in licensing and tipping, though offset by a $0.8 million drop in Other Initiatives revenues due to reduced publisher network monetization. Cost efficiencies shone through with Cost of services down 10% to $27.0 million, mainly from $2.3 million lower programming costs, and General and administrative expenses plunging 37% to $10.4 million via payroll cuts. These improvements contrast with sales and marketing expenses surging 134% to $8.5 million on heightened PR and marketing efforts, and R&D up 20% to $5.7 million for tech investments. The company ended the quarter with robust $233.4 million liquidity, including $219 million cash and $14.4 million in Bitcoin. Strategically, the Northern Data acquisition advances with 81.3% shares secured via exchange offer at 2.0281 Rumble shares per Northern share, all regulatory hurdles cleared, targeting mid-June close. Northern Data's Q1 showed EUR 43 million revenue and 85% GPU utilization, with FY2026 outlook of EUR 130-150 million affirmed. Pro forma Q1 revenue for the combined entity would approximate $75 million. User engagement strengthened with 56 million average MAUs, up 8% sequentially from Q4 2025, propelled by Rumble Shorts hitting 2 million daily unique views in May and international push. Leadership refreshed with Michael Masci, ex-Intel VP with AI expertise, as new CFO replacing Brandon Alexandroff now advising the CEO. New initiatives like Rumble Wallet with Tether and exclusive Dan Bongino streaming bolster monetization and content moat.