Rumble Inc. reported third‑quarter 2025 revenue of $24.8 million, a 1% decline from the $25.1 million earned in Q3 2024. The figure fell short of the consensus estimate of $26.32 million, missing by $1.52 million or roughly 5.8%. Earnings per share were $‑0.06, essentially flat against the analyst expectation of $‑0.07, indicating that the company’s cost‑control measures offset the revenue shortfall.
Operating expenses dropped to $25.2 million, a $11.2 million reduction driven by an $11.9 million cut in programming and content spend. The company’s adjusted EBITDA loss narrowed to $15.1 million from $23.5 million a year earlier, a $8.4 million improvement that reflects disciplined spending on content and a modest lift in monetization efficiency, even as the business remains in the red.
In a strategic move to pivot toward AI and cloud services, Rumble completed an all‑share acquisition of German AI‑cloud provider Northern Data. The transaction, valued at $767 million, exchanges 2.0281 Rumble Class A shares for each Northern Data share and is expected to close in the second quarter of 2026. Northern Data brings more than 22,000 Nvidia GPUs and a global data‑center network, positioning Rumble to compete with larger tech incumbents and to monetize AI workloads through its “Freedom‑First” platform.
Chris Pavlovski, Rumble’s Chairman and CEO, said the deal “builds the AI ecosystem for the future, from the ground up” and highlighted the partnership with Tether, which will serve as an anchor customer for Rumble’s AI infrastructure. Pavlovski also emphasized that the company’s focus on privacy, independence, and resilience differentiates it from traditional big‑tech models.
The market reacted strongly to the earnings and acquisition news, with Rumble’s shares surging over 12% in pre‑market trading. Investors were drawn to the AI and cloud upside, which outweighed the revenue miss and the company’s continued loss profile.
Business implications are mixed. Revenue decline is largely attributable to a $0.5 million drop in audience‑monetization sales, while other‑initiatives revenue rose $0.2 million. Monthly active users fell to 47 million from 51 million in Q2 2025, but average revenue per user increased 7% to $0.45, indicating improved monetization efficiency. The acquisition is expected to diversify Rumble’s revenue streams and accelerate its AI strategy, but integration risk and the need to generate profitable AI services remain significant challenges.
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