Rumble revenue rises to $25.5M as Northern Data merger nears closing

Rumble (NASDAQ:RUM) reported a 7% increase in first-quarter revenue and steady user growth as the video platform prepares to finalize its high-stakes acquisition of Northern Data to bolster its cloud and artificial intelligence infrastructure.

The Longboat Key, Florida-based company posted revenue of $25.5 million for the three months ended March 31, 2026, up from $23.7 million in the prior-year period.

Top-line growth was supported by gains in audience monetization, including advertising and subscription services.

However, total operating expenses rose to $64.6 million during the quarter, resulting in a net loss of $30.3 million, widened from a $2.7 million loss a year ago, reflecting heavy investment in content, marketing, and transaction-related costs.

Rumble’s audience metrics showed continued resilience amid a competitive streaming landscape.

Average global monthly active users (MAUs) reached 56 million, representing an 8% sequential increase from the fourth quarter of 2025.

Management attributed the user momentum to the rollout of "Rumble Shorts"—which recently set a daily record of 2 million unique views—and a targeted push into international markets.

A central focus for the quarter remained the company’s pending business combination with Northern Data AG.

Rumble confirmed that its exchange offer is on track to close in mid-June 2026, with approximately 81.3% of Northern Data shares already secured.

The transaction, executed at a 2.0281:1 stock exchange ratio, is designed to transform Rumble from a video hosting site into a vertically integrated cloud and AI powerhouse.

The company ended the first quarter with a total liquidity position of $233.4 million.

This balance includes $219 million in cash and cash equivalents and a treasury holding of 210.82 Bitcoin, which had a fair market value of $14.4 million as of March 31.

This capital stack is intended to fund the integration of Northern Data and the continued deployment of GPU services under its recently expanded partnership with Tether.