ARPU Rises 7% Even as User Growth Dips
Rumble Inc. (NASDAQ: RUM) reported a 7% quarter-over-quarter increase in Average Revenue Per User (ARPU) for Q3 2025, reaching $0.45, even as Monthly Active Users (MAUs) declined to 47 million from 51 million last quarter. This improvement signals the company’s ongoing success in audience monetization—fewer users, but higher per-user revenue.
Cost Controls and Loss Reductions Signal Improved Operating Discipline
The company’s net loss narrowed significantly to $16.3 million from $31.5 million a year earlier. Adjusted EBITDA, while still negative, showed an $8.4 million improvement year-over-year, highlighting cost-saving efforts—especially a 31% reduction in service costs. These gains were partly offset by higher general, administrative, sales, and marketing expenses, reflecting continued investment in growth initiatives.
| Metric | Q3 2025 | Q3 2024 | % Change |
|---|---|---|---|
| Revenues | $24.8M | $25.1M | -1% |
| MAUs | 47M | N/A | N/A |
| ARPU | $0.45 | N/A | +7% QoQ |
| Net Loss | ($16.3M) | ($31.5M) | Improved |
| Adjusted EBITDA | ($15.1M) | ($23.5M) | Improved |
| Cash & Equivalents | $269.8M | $114.0M (12/24) | +137% |
Strategic Partnerships Expand Reach and Discoverability
Rumble doubled down on platform integration, announcing a high-profile partnership with Cumulus Media in August to enhance distribution and monetization, as well as integrating Perplexity AI’s search capabilities in October. Additionally, a new subscription bundle with Perplexity launched for $19.99 per month, designed to drive premium subscriptions through year-end.
Strong Balance Sheet Supports Growth and Innovation
The company finished the quarter with $293.8 million in total liquidity—including $269.8 million in cash and cash equivalents and 210.82 Bitcoin. The healthy balance sheet enables continued investment in technology and content partnerships while providing a cushion against industry headwinds.
Operational Metrics Reflect Mixed Performance but Highlight Resilience
Although revenues dipped 1% from a year earlier to $24.8 million, cost reductions were meaningful—particularly a $11.2 million decrease in content and hosting expenses. At the same time, Rumble increased its spending on marketing and public relations, suggesting an emphasis on building brand and market share for the longer term. The modest revenue decline was attributed to lower audience monetization from fewer active users, but was largely offset by gains in subscriptions and other initiatives.
Key Financial and Operational Data at a Glance
| Category | Q3 2025 | Q3 2024 | Variance ($) | Variance (%) |
|---|---|---|---|---|
| Revenue | $24,762,445 | $25,056,904 | ($294,459) | -1% |
| Cost of Services | $25,219,331 | $36,428,951 | ($11,209,620) | -31% |
| General & Administrative | $10,492,008 | $9,710,935 | $781,073 | +8% |
| Research & Development | $4,455,354 | $4,650,688 | ($195,334) | -4% |
| Sales & Marketing | $5,076,937 | $3,955,552 | $1,121,385 | +28% |
What to Watch: Cash Position and New Monetization Strategies in Focus
Rumble’s focus on improving monetization per user and expanding content and technology partnerships may prove critical as the platform faces competition and cyclical user trends. With a robust cash reserve, Rumble appears well-positioned to continue investing in its core business and explore new growth avenues—even if user numbers ebb and flow with election cycles and seasonal shifts.
Investors and market watchers may want to track the adoption rates for the new Perplexity bundle, trends in MAUs as political engagement increases, and whether Rumble can further improve ARPU. With its operational discipline and growing strategic alliances, Rumble is attempting to carve a unique place in the evolving digital media landscape.
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