Rumble (RUM) Q4 2025 earnings summary

Executive summary

• Achieved $100.6 million in 2025 revenue, up 5% year-over-year, marking the first $100 million milestone, with Q4 revenue of $27.1 million, up 9% sequentially.

• Platform enhancements included Rumble Wallet with Tether, Rumble Shorts, and improved user experience.

• Q4 2025 Monthly Active Users reached 52 million, an 11% sequential increase, driven by international expansion.

• Major new brand partnerships and exclusive content deals, including Dan Bongino's exclusive video podcast.

• Positioned for aggressive growth in 2026, with midterm elections, cloud expansion, and new leadership as catalysts.

Financial highlights

• Q4 2025 revenue was $27.1 million, up 9% sequentially but down $3.2 million year-over-year, with full-year revenue at $100.6 million, up from $95.5 million in 2024.

• ARPU rose to $0.46 in Q4, up 2% sequentially.

• Adjusted EBITDA loss for Q4 was $16 million; full-year adjusted EBITDA loss improved to $74.3 million from $92.1 million in 2024.

• Q4 net loss was $32.7 million, a significant improvement from $236.8 million in Q4 2024, which included a large non-cash derivative liability adjustment.

• Ended Q4 with $256.4 million in liquidity, including $237.9 million in cash and $18.5 million in Bitcoin.

Outlook and guidance

• Expecting material ramp in Tether advertising commitment in Q2 and Q3 2026, with $100 million over two years starting Q1 2026.

• Anticipate closing Northern Data acquisition in Q2 2026, enabling immediate cloud scaling and 85% GPU utilization by end of Q1 2026.

• Sales operation under new President of Sales expected to drive brand partnerships and ad revenue growth, with major impact in late 2026 and 2027.

• Rumble Shorts monetization to begin in Q3/Q4 2026, following a period focused on user growth.