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Highlights

  • Revenue grew 12% YoY to USD 25.1 million, driven by higher subscription income.
  • ARPU rose 24% QoQ to USD 0.42, offsetting weaker advertising performance.
  • Liquidity stood at USD 306.4 million, including USD 22.6 million in Bitcoin holdings.

Rumble Inc. (NASDAQ:RUM) posted its Q2 2025 financial results, recording a 12% year-over-year revenue increase to USD 25.1 million, primarily supported by subscription growth and improved monetization metrics. Average Revenue Per User (ARPU) advanced 24% quarter-over-quarter to USD 0.42, partially mitigating the impact of a sequential drop in Monthly Active Users (MAUs) from 59 million in Q1 2025 to 51 million in Q2.

The quarter marked Rumble’s addition to the Russell 2000® and Russell 3000® Indexes, expanding its visibility among institutional investors. The company maintained a sizable liquidity reserve of USD 306.4 million, comprising USD 283.8 million in cash and equivalents and 210.82 Bitcoin valued at USD 22.6 million.

On the earnings front, net loss widened to USD 30.2 million from USD 26.8 million a year earlier, reflecting higher operating costs, including a USD 1.6 million rise in sales and marketing expenses and a USD 1.3 million increase in general and administrative costs. However, Adjusted EBITDA loss narrowed to USD 20.5 million, an USD 8.2 million improvement compared to Q2 2024, aided by a USD 9.1 million year-over-year reduction in cost of services.

Revenue composition revealed a USD 4.4 million gain in subscription income, while advertising revenue fell by USD 3.7 million, highlighting a shift in monetization drivers. Strategic partnerships announced during the quarter included collaborations with the Tampa Bay Buccaneers, TRON DAO, MoonPay, and Cumulus Media. These alliances aim to expand content, enhance blockchain-related services, and strengthen cloud infrastructure offerings.

Operationally, Rumble made key executive hires, naming a new Chief Marketing Officer and Vice President of Sales for Rumble Cloud, signaling continued investment in platform growth and enterprise services.

While the rise in ARPU and subscription revenue underscores improved monetization efficiency, the notable drop in MAUs points to engagement challenges that could affect long-term growth trajectories. Coupled with the widening net loss and declining advertising revenue, the results indicate a mixed performance, with operational cost controls and subscription gains providing partial offset.