Rumble (RUM 3.05%) reported its Q2 2025 results on August 11, 2025, delivering a 12% year-over-year revenue increase to $25.1 million, stable monthly active users (MAUs) at 51 million, and a preliminary announcement of a potential acquisition of AI company Northern Data. The quarter featured a meaningful reduction in costs, progress on strategic partnerships with Tether and Cumulus Media, and the upcoming launch of Rumble Wallet to expand monetization and international reach.
AI acquisition plans signal Rumble’s strategic pivot
Management revealed intentions for a possible all-stock exchange offer to acquire Northern Data, a leading provider of artificial intelligence (AI) and high-performance computing, marking a significant shift toward advanced infrastructure and cloud services. Tether, Northern Data’s majority shareholder, provided favorable preliminary feedback to the proposed transaction, highlighting growing alignment with large-scale technology partners.
"As described in the press release, Northern Data is a leading provider of AI and high-performance computing solutions and operates primarily through Ardent, its data center business, and Tyga, its GPU as a service business. Rumble has informed Northern Data that it is interested in pursuing a potential exchange offer in which the shareholders of Northern Data would receive newly issued class A shares of Rumble common stock in exchange for their Northern Data shares. Rumble has received positive feedback from Tether, the majority shareholder of Northern Data, with respect to the potential offer on the preliminary terms described in the press release."
-- Chris Pavlovski, Founder, Chairman, and CEO
This prospective acquisition underscores Rumble’s ambition to expand platform capabilities beyond video sharing into the rapidly growing AI and GPU-as-a-service markets, which could significantly reshape its long-term total addressable market and competitive positioning.
Rumble grows recurring revenue and cuts costs
The company reported a rise in average revenue per user (ARPU) to 42¢, up 24% quarter over quarter, and an $8.2 million year-over-year improvement in adjusted EBITDA loss to $20.5 million, driven primarily by subscription revenue growth and substantial reductions in programming expenses. Rumble ended the quarter with $306.4 million in total liquidity, supporting its ongoing investment capacity and aggressive growth mandate.
"ARPU increased to 42¢, up 24% sequentially. A positive indicator of our enhanced monetization strategy attributable to higher subscription and licensing revenue. Cost of services improved 26% year over year to $26.5 million, primarily from a $10.1 million reduction in programming and content expenses partially offset by a $1 million increase in other costs including publisher fees and payment processing. The decrease is primarily due to the expiration of various programming and content agreements. Adjusted EBITDA loss improved to $20.5 million compared to a loss of $28.7 million last year. An $8.2 million improvement primarily related to the previously mentioned increase in revenue and expiration of programming and content agreements."
-- Brandon Alexandroff, CFO
Improved unit economics and a stronger liquidity position enhance Rumble’s resilience and flexibility to fund strategic initiatives without near-term capital constraints, especially as it targets platform expansion and new business lines.
Partnerships and wallet launch expand Rumble’s ecosystem
The second quarter featured new strategic alliances, including collaborations with Cumulus Media for content and ad sales integration and MoonPay for crypto on/off-ramps. Tether began advertising on the platform and will help promote Rumble Wallet, expected to launch in Q3 and facilitate tipping with Bitcoin, Tether’s USDT, and Tether Gold. Management emphasized plans to invest heavily in marketing Rumble Wallet both on and off platform to drive international audience and creator growth.
"As part of this launch, in keeping with our theme of partnerships, I want to discuss MoonPay. MoonPay will power all crypto on and off ramps within Rumble Wallet, enabling seamless buy, sell, and swap functionality. MoonPay's creative agency, Otherlife, will also leverage Rumble Cloud for next-gen object storage in decentralized compute. Bottom line, partnerships are no longer a someday goal. They're here, they're expanding, and they're creating a meaningful foundation for our next phase of growth."
-- Chris Pavlovski, Founder, Chairman, and CEO
The broadening of use cases via digital wallets and crypto payments not only diversifies revenue potential but also positions Rumble to accelerate international expansion and attract new creators to its platform.
Looking Ahead
Management reaffirmed aggressive growth as Rumble’s new strategic mandate, with key initiatives including the Q3 launch of Rumble Wallet and expanded creator acquisition campaigns. No explicit quantitative guidance was provided for gross profit margins or EBITDA, as leadership emphasized capital deployment toward scaling the core platform and potential AI-related expansion. Any further updates on the Northern Data transaction or AI partnership details will be disclosed in future announcements or press releases as developments arise.
