Rumble Inc. (Nasdaq: RUM) is a video-sharing platform and cloud services provider that emphasizes free speech and independent media. The company reported financial results for the fourth quarter and full year 2024, highlighting an upward trajectory in its financial performance.

In Q4 2024, Rumble achieved revenues of $30.2 million, an increase of 48% compared to $20.4 million in Q4 2023. For the full year 2024, revenues totaled $95.5 million, up 18% from $81 million in 2023. Average global Monthly Active Users (MAUs) were 68 million in the fourth quarter, reflecting a sequential increase of 1 million from the previous quarter and a 21% growth in the U.S. and Canada to 52 million.

The Average Revenue Per User (ARPU) reached $0.39 in Q4 2024, increasing from $0.33 in Q3 2024. The rise in ARPU was attributed to higher advertising and subscription revenue. Cost of services decreased to $34.5 million in Q4 2024, down from $39.5 million in Q4 2023, reflecting a reduction in programming and content costs.

Rumble reported a net loss for the fourth quarter of $236.8 million, significantly higher than the loss of $29.3 million recorded in the same period of the prior year. This loss included a $184.7 million charge related to the fair value change of derivative expenses associated with a strategic investment from Tether. Adjusted EBITDA for Q4 2024 was a loss of $13.4 million, markedly improved from a loss of $30 million in Q4 2023.

The company concluded the year with approximately $114 million in cash, cash equivalents, and marketable securities, a decrease from $132 million at the end of the previous quarter. Rumble’s cash usage was $18 million in Q4 2024, reflecting a 19% reduction compared to the third quarter.

Looking ahead, Rumble anticipates revenue growth of at least 25% for the first quarter of 2025 compared to Q1 2024. The company aims to reach adjusted EBITDA breakeven by 2025, supported by the additional capital from Tether’s $775 million strategic investment, which is expected to enhance its balance sheet and growth initiatives. Following the completion of this investment, Rumble will have gross proceeds of $250 million to further its operational goals.