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Mar 31, 2024
Rumble Q1 2024 Earnings Report
Rumble's first quarter results for 2024 were reported, featuring the launch of Rumble Cloud and Rumble Studio Livestreaming.
Key Takeaways
Rumble Inc. reported a 1% increase in revenue to $17.7 million for Q1 2024 compared to $17.6 million in Q1 2023. The company is focusing on the execution of its four core products and anticipates a sequential increase in revenue in Q2 2024.
Rumble's portfolio now includes Rumble content video platform, Rumble Advertising Center (RAC), Rumble Studio platform, and Rumble Cloud.
The company is shifting focus to ARPU as a key metric for monetization progress.
Q2 2024 is expected to deliver a sequential increase in revenue.
A strategic partnership with Barstool Sports was announced.
Rumble
Rumble
Forward Guidance
Rumble anticipates a sequential increase in revenue starting in the second quarter of 2024 and continues to move materially towards breakeven in 2025.
Positive Outlook
- Revenue engines are coming online.
- Guaranteed creator commitments are set to significantly decrease by the end of 2024 and into 2025.
- Company expects revenue to increase on a sequential basis starting in the second quarter of 2024.
- Moving materially towards breakeven in 2025.
- Focus on execution to continue building foundation.
Challenges Ahead
- Volatility inherent in a small number of creators.
- Manual processes associated with sponsorship revenues.
- Hours of uploaded video per day have been depressed by YouTube’s decision to disable the ability of its users to utilize our tool that automatically imports videos.
- Limited ability to collect data from certain aspects of our systems.
- Transition from UA to GA4 has had a positive or negative effect, or the magnitude of such effect, if any, on our reported MAUs.