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Jun 30, 2024
Rumble Q2 2024 Earnings Report
Revenue grew sequentially by 27% to $22.5 million and ARPU increased by 19% over the first quarter.
Key Takeaways
Rumble Inc. reported a 27% sequential increase in revenue, reaching $22.5 million for the second quarter of 2024. The company introduced Average Revenue Per User (ARPU) as a new KPI, which increased by 19% compared to the first quarter of 2024.
Revenue increased sequentially by 27% to $22.5 million.
Average Revenue Per User (ARPU) increased by 19% over the first quarter, reaching $0.37.
Cost of services decreased to $35.7 million compared to $40.8 million in the second quarter of 2023.
The company expects revenues to continue to increase sequentially throughout 2024.
Forward Guidance
Rumble anticipates continued sequential revenue growth throughout 2024, driven by sponsorship agreements and political advertising. The company expects to move materially towards Adjusted EBITDA breakeven in 2025.
Positive Outlook
- Sponsorship agreements with advertisers are expected to perform as expected.
- Political advertising is expected to ramp up as the election cycle intensifies.
- Revenues are expected to continue to increase sequentially throughout 2024.
- The company aims to ramp up monetization efforts.
- The company intends to maintain discipline around its cost structure.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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