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Rumble Inc. (RUM-1.58%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Rumble's operations as a video sharing platform and cloud services provider, highlighting its focus on helping content creators manage and monetize their content.
Rumble reported revenues of $95.5 million for 2024, an increase from $81.0 million in 2023, primarily driven by higher advertising and subscription revenues.
Cost of services decreased to $138.5 million from $146.2 million, attributed to reduced programming and content costs.
General and administrative expenses were $36.6 million, a slight decrease from the previous year, due to lower administrative and share-based compensation expenses.
Rumble's net loss for 2024 was $338.4 million, significantly higher than the $116.4 million loss in 2023, largely due to changes in the fair value of derivative liabilities.
The company completed strategic acquisitions, including Callin Corp and North River Project Inc., to enhance its technology and content offerings.
Rumble's cash and cash equivalents stood at $114.0 million as of December 31, 2024, with a focus on using funds to acquire content and incentivize content creators.
The filing outlines various risks, including competition, regulatory challenges, and reliance on key customers and content creators.
Rumble continues to focus on expanding its user base and enhancing its monetization strategies through advertising and cloud services.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rumble Inc. annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.