Rumble Inc. Q3 FY2024 earnings call

• Chris highlighted the mission to protect a free and open Internet, noting Rumble's stance on free speech during challenging times. • Rumble saw strong performance during the 2024 election, setting new records in live streams, concurrent views, and revenue. • Q3 2024 showed strong growth in MAU, with revenue progressing nicely since Q2 2024. • Rumble Premium exceeded expectations, with exclusive content like Stephen Crowder MugClub driving subscriptions. • Rumble Cloud is gaining traction with enterprise customers. • Adjusted EBITDA loss improved from $35.4 million in Q3 2023 to $23.5 million in Q3 2024.

For the third quarter of 2024, Rumble reported revenues of $25.1 million, an increase from $18 million in Q3 2023. Monthly active users reached 67 million. Revenue from audience monetization increased by $5.9 million and other initiative revenues by $1.2 million. Cost of services decreased to $36.4 million from $39.8 million in Q3 2023. Cash position ended Q3 2024 with approximately $132 million.

• Expect to continue moving materially towards adjusted EBITDA breakeven in 2025. • Sequential quarterly revenue growth is expected to continue into the balance of 2024. • Q4 is expected to show another quarter of consecutive revenue growth.

Q: Now that traditional media have been exposed with the election and this is your time, what's the visibility on forward advertising revenue?

A: With respect to the advertising business, direct response is stable, and there's upside in brand partnerships. One brand partnership was landed immediately after GARM disbanded, and more are expected going into 2025.

Q: What are your plans to retain high level of engagement now that we're on the other side of the election?

A: The product is far superior than in 2022, and with improved product, we expect better stickiness. Premium offering with exclusive content is driving high engagement.

Q: Talk about the sales cycle for cloud?

A: Sales cycles for cloud are long but moving forward. Rumble Cloud has opportunities with large enterprise and government clients, and they're in talks with such clients.