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Jun 30, 2023
Rumble Q2 2023 Earnings Report
Rumble's Q2 2023 earnings were released, revealing a record quarterly revenue of $25.0 million, marking a 468% increase compared to Q2 2022.
Key Takeaways
Rumble Inc. reported a record quarterly revenue of $25.0 million for Q2 2023, a 468% increase compared to $4.4 million in Q2 2022. The increase was driven by growth in advertising, licensing, and other revenue.
Revenue reached a record $25.0 million, up 468% year-over-year.
Advertising revenue increased by $18.0 million due to advertising solutions for creators, publishers and advertisers.
Licensing and other revenue increased by $2.6 million, driven by subscription, licensing creator contracts, tipping, cloud platform and hosting fees.
The company had cash, cash equivalents, and marketable securities of $296.7 million as of June 30, 2023.
Rumble
Rumble
Forward Guidance
Rumble is focused on strategically onboarding new creators, improving its product across all devices, and automating creator sponsorships through RAC to accelerate revenue growth.
Positive Outlook
- Strategic onboarding of new creators.
- Improvement of product across all devices.
- Automation of creator sponsorships through RAC.
- Diversifying audiences.
- Increasing consumption.
Challenges Ahead
- Inability to effectively manage future growth and achieve operational efficiencies.
- Recent and rapid growth not being indicative of future performance.
- Inability to achieve revenue growth consistent with or better than current annual revenue run rate.
- Failure to onboard sufficient new content creators and content and/or fully launch RAC.
- Inability to grow or maintain active user base.