Rumble
RUM Nasdaq Interactive Media & Services Financials FY2021–FY2025
Rumble's revenue rose 5.4% to $101 million in fiscal 2025. Its operating margin was −125.9%, up from −137.0% a year earlier. Free cash flow was −$74 million. It paid out $525 million in dividends and buybacks. The diluted share count rose 24.8%.
About these figures. Rumble has almost no borrowings and pays next to no interest, so interest expense and interest coverage are left blank.
What Rumble does
Rumble runs a video sharing and livestreaming platform, Rumble.com, along with mobile and connected TV apps. Anyone can watch for free, and creators upload videos and stream live. The company says it was founded in 2013 to give small creators tools and distribution. It also runs Locals.com, where users subscribe to creators, and Rumble Studio, a livestreaming and monetization tool. It reports a user base of 52 million monthly active users in the fourth quarter of 2025.
Rumble has two business units. Rumble Services covers the video platform, Rumble Studio, a crypto wallet that lets viewers tip creators, and Rumble Advertising Center, its own ad marketplace and network. Rumble Cloud sells computing, storage and networking services over the internet. The majority of its revenue comes from advertising: display ads, video ads and creator sponsorships. The rest comes from subscriptions such as Rumble Premium, pay-per-view and tipping. It shares revenue with creators. Average revenue per user was $0.46 in the fourth quarter of 2025.
In February 2025 Tether Investments bought Class A shares for $775 million. In November 2025 Rumble agreed to a business combination with Northern Data, a company in AI and high-performance computing, which Rumble expects to close in the second quarter of 2026. Chris Pavlovski keeps super-majority voting control of Rumble.
- Legal name
- RUM GROUP INC.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 5, 2026
- Accession · CIK
- 0001213900-26-024099
0001830081
Revenue and margins
Rumble had $101M of revenue in fiscal 2025, up 5.4% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was −$74.5M in fiscal 2025, −74.0% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Rumble returned $525M to shareholders in fiscal 2025. The diluted share count rose 24.8%.
Value Rumble yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of — and divides by 254.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Balance sheet
Cash, debt and the ratios that show how comfortably Rumble can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $46.8M | $338M | $220M | $114M | $238M |
| Current ratio | 6.8x | 22.1x | 7.1x | 0.6x | 5.8x |
| Quick ratio | 6.8x | 22.1x | 7.1x | 0.6x | 5.8x |
| Total assets | $55.8M | $367M | $296M | $195M | $337M |
| Total liabilities | $8.6M | $27.3M | $44.1M | $258M | $62.0M |
| Shareholders' equity | $30.4M | $340M | $252M | −$63.1M | $275M |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$10.0M
1 insider
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Feb 6, 2026 | Giancarlo Devasini10% owner | Bought | 44,355 | $5.48 | $0.2M | Form 4 |
| Feb 5, 2026 | Giancarlo Devasini10% owner | Bought | 538,955 | $5.41 | $2.9M | Form 4 |
| Feb 3, 2026 | Giancarlo Devasini10% owner | Bought | 193,702 | $5.49 | $1.1M | Form 4 |
| Nov 21, 2025 | Giancarlo Devasini10% owner | Bought | 270,478 | $5.46 | $1.5M | Form 4 |
| Nov 20, 2025 | Giancarlo Devasini10% owner | Bought | 440,000 | $5.38 | $2.4M | Form 4 |
| Nov 19, 2025 | Giancarlo Devasini10% owner | Bought | 353,192 | $5.45 | $1.9M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✕ |
| Return on assets rose | ✕ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — |
| Current ratio rose | ✕ | ✕ | ✓ |
| Share count didn't rise | ✓ | ✕ | ✕ |
| Gross margin rose | — | ✓ | ✓ |
| Revenue rose relative to assets | ✕ | ✓ | ✓ |
| F-score | — / 9 | — / 9 | — / 9 |
| Accruals ratio | −7.1% | −102.4% | −4.3% |
| Altman Z'' | 5.85 | −15.54 | 0.93 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Rumble RUM | $1.6B | 5.4% | −125.9% | −74.0% | — | — | — | |
| Grindr GRND | $2.4B | 27.6% | 28.7% | 32.0% | 44.3% | 27.4x | 6 | Compare → |
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5 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $9.5M | $39.4M | $81.0M | $95.5M | $101M |
| Gross profit | — | — | −$65.2M | −$43.0M | −$6.8M |
| Research and development | $1.6M | $6.3M | $15.7M | $18.9M | $18.7M |
| Operating income | −$10.5M | −$35.6M | −$136M | −$131M | −$127M |
| Pretax income | −$13.5M | −$11.6M | −$120M | −$340M | −$81.8M |
| Income tax | $0.0M | −$0.2M | −$3.3M | −$2.0M | $0.1M |
| Net income | −$13.4M | −$11.4M | −$116M | −$338M | −$81.8M |
| Diluted EPS | −$0.06 | −$0.05 | −$0.58 | −$1.66 | −$0.32 |
| Diluted shares | 0.21B | 0.24B | 0.20B | 0.20B | 0.25B |
| Cash flow | |||||
| Cash from operations | −$5.3M | −$32.3M | −$92.9M | −$87.0M | −$70.4M |
| Capital expenditure | $1.3M | $8.5M | $14.6M | $2.7M | $4.1M |
| Free cash flow | −$6.7M | −$40.8M | −$107M | −$89.7M | −$74.5M |
| Depreciation and amortization | $0.2M | $1.6M | $4.9M | $13.6M | $14.6M |
| Stock-based compensation | $1.4M | $1.9M | $16.3M | $21.5M | $23.8M |
| Acquisitions | $3.4M | $0.0M | $7.2M | $2.5M | $0.0M |
| Share buybacks | $0.0M | $11.0M | $0.0M | $0.0M | $525M |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $11.0M | $0.0M | $0.0M | $525M |
| Balance sheet | |||||
| Cash and short-term investments | $46.8M | $338M | $220M | $114M | $238M |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $49.0M | $352M | $238M | $136M | $265M |
| Current liabilities | $7.2M | $15.9M | $33.6M | $217M | $45.3M |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | $1.3M | $8.8M | $19.7M | $17.1M | $16.2M |
| Total assets | $55.8M | $367M | $296M | $195M | $337M |
| Total liabilities | $8.6M | $27.3M | $44.1M | $258M | $62.0M |
| Shareholders' equity | $30.4M | $340M | $252M | −$63.1M | $275M |
| Margins | |||||
| Gross margin | — | — | −80.5% | −45.0% | −6.7% |
| Operating margin | −111.1% | −90.4% | −167.4% | −137.0% | −125.9% |
| EBITDA margin | −109.4% | −86.4% | −161.4% | −122.8% | −111.4% |
| Net margin | −141.7% | −29.0% | −143.8% | −354.4% | −81.3% |
| FCF margin | −70.3% | −103.7% | −132.8% | −93.9% | −74.0% |
| Returns | |||||
| Return on capital employed | — | −17.8% | −44.2% | −108.7% | −93.8% |
| Return on equity | — | −6.2% | −39.4% | −359.0% | −77.3% |
| Return on assets | — | −5.4% | −35.1% | −137.8% | −30.8% |
| Growth | |||||
| Revenue growth | — | 316.0% | 105.6% | 17.9% | 5.4% |
| Share count change | — | 14.7% | −16.9% | 1.3% | 24.8% |
| Financial health | |||||
| Current ratio | 6.8x | 22.1x | 7.1x | 0.6x | 5.8x |
| Quick ratio | 6.8x | 22.1x | 7.1x | 0.6x | 5.8x |
| Capital allocation | |||||
| Capex / revenue | 14.2% | 21.7% | 18.0% | 2.8% | 4.0% |
| Stock comp / revenue | 14.9% | 4.9% | 20.1% | 22.6% | 23.7% |
| Quality scores | |||||
| Altman Z'' | 6.3 | 18.2 | 5.9 | −15.5 | 0.9 |
| Accruals ratio | — | 9.9% | −7.1% | −102.4% | −4.3% |
Source: SEC EDGAR XBRL filings (CIK 0001830081). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.