Rumble Q4 2023 Earnings Report
Key Takeaways
Rumble Inc. reported a 2% increase in revenue for Q4 2023, reaching $20.4 million. The company's focus on product development led to the public launch of Rumble Cloud. They anticipate increased revenue in Q2 2024 and are aiming for breakeven in 2025.
Revenue increased by 2% to $20.4 million compared to Q4 2022.
Cost of services increased to $39.5 million due to higher programming and content costs.
Cash, cash equivalents, and marketable securities totaled approximately $219.5 million as of December 31, 2023.
The company is focused on leveraging its product suite to drive topline growth and achieve breakeven in 2025.
Rumble
Rumble
Forward Guidance
Rumble expects revenue to increase sequentially beginning in the second quarter of 2024 and continues to move materially towards breakeven in 2025.
Positive Outlook
- Revenue expected to increase sequentially beginning in Q2 2024
- Revenue engines coming online
- Guaranteed creator commitments set to significantly decrease by the end of 2024 and into 2025
- Moving materially towards breakeven in 2025
- Focus on selling to yield topline momentum