Rumble Inc
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Rumble Inc AI Insights
Informational only. Not investment advice.Snapshot
- Gross margin TTM is -12.1% - costs exceed revenue. Cash burn of 57M FCF TTM with 270M cash = ~4.7 years runway at current rate.[Free Cash Flow TTM]
- P/S ratio of 18.2x vs industry median 1.4x - trading at 13x premium despite negative unit economics and operating losses.[P/S Ratio]
- 5Y revenue CAGR of 96% vs industry 12% median, but 3Y CAGR slowed to 31% - growth deceleration while still unprofitable.[Total Revenue 5Y Growth]
Watch Triggers
- Gross Margin TTM: Turns positive (>0%) — Unit economics must flip positive before any path to profitability exists
- Cash and Equivalents: Falls below 150M — Would signal <2.5 years runway, likely triggering dilutive equity raise
- Total Revenue TTM: Quarterly growth rate >15% QoQ — Scale needed to leverage fixed costs and reach operating breakeven
Bull Case
270M cash with minimal debt (0.7% D/E) provides runway for growth investments. 96% 5Y revenue CAGR shows platform traction.
Working capital of 240M and current ratio of 6x provides operational flexibility to pursue monetization without distress.
Bear Case
Negative gross margin (-12%) means each dollar of revenue loses money. Operating loss of 113M TTM with no clear path to breakeven.
P/S of 18.2x (13x industry median) prices in massive growth that's decelerating (96% 5Y to 31% 3Y CAGR).
Bull vs Bear Balance
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Forward Thesis
Path to profitability requires gross margin inflection from -12% to positive within 18 months or equity raise needed.
- Cost of revenue 116M exceeds revenue 104M TTM
- FCF burn of 57M annually depletes 270M cash
- No debt capacity (2.2M total debt)
Valuation Context
Caveats
RUM Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$1.62B | — | ||
$1.38B | — | ||
0.00 | — | ||
$100.62M | +5.4% | — | |
$-0.32 | — | ||
-112% | +23.6% | — | |
-81.3% | +273.0% | — | |
$-77.38M | — | ||
-77.3% | — | ||
Beta 5Y (Monthly) | unknown | — |
RUM Dividend History
RUM Stock Splits
RUM SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
03/05/26 | 12/31/25 | 10-K | |
11/10/25 | 09/30/25 | 10-Q | |
08/11/25 | 06/30/25 | 10-Q | |
05/08/25 | 03/31/25 | 10-Q | |
03/05/26 | 12/31/24 | 10-K | |
03/25/25 | 12/31/24 | 10-K | |
11/12/24 | 09/30/24 | 10-Q | |
08/12/24 | 06/30/24 | 10-Q | |
05/14/24 | 03/31/24 | 10-Q | |
03/25/25 | 12/31/23 | 10-K | |
03/27/24 | 12/31/23 | 10-K | |
11/13/23 | 09/30/23 | 10-Q | |
08/14/23 | 06/30/23 | 10-Q | |
05/15/23 | 03/31/23 | 10-Q | |
03/30/23 | 12/31/22 | 10-K | |
11/14/22 | 09/30/22 | 10-Q | |
08/14/23 | 06/30/22 | 10-Q | |
08/12/22 | 03/31/22 | 424B3 | |
08/12/22 | 12/31/21 | 424B3 | |
02/14/22 | 09/30/21 | S-4 | |
11/15/22 | 09/30/21 | 10-Q/A | |
08/12/22 | 03/31/21 | 424B3 | |
02/14/22 | 12/31/20 | S-4 | |
02/14/22 | 09/30/20 | S-4 |