Rumble (RUM) closed out FY 2025 with Q4 revenue of about US$27.1 million and a basic EPS loss of US$0.13, alongside a net loss of roughly US$32.7 million. Trailing twelve month figures show revenue of about US$100.6 million and an EPS loss of US$0.32. Over recent quarters, the company has reported revenue of around US$25.1 million in Q2 2025, US$24.8 million in Q3, and US$27.1 million in Q4, with quarterly EPS losses ranging from US$0.01 in Q1 to between US$0.06 and US$0.13 through the rest of the year. This has created a results season in which investors are closely monitoring how quickly margins might tighten and losses might narrow relative to a strong top line profile.

See our full analysis for Rumble.

With the latest numbers on the table, the next step is to see how this earnings profile lines up with the most common narratives around Rumble, and where the data might be telling a different story.

US$100.6m in sales still paired with heavy losses

• On a trailing 12 month basis, Rumble booked about US$100.6m in revenue while recording a net loss of roughly US$81.8m and an EPS loss of US$0.32.
• Consensus narrative leans on strong revenue growth and new products like Rumble Wallet to support long term earnings strength. However, the current loss profile means that growth is coming with a sizeable earnings gap.
  • The analysis highlighting revenue growth of roughly 42.5% a year contrasts with FY 2025 quarterly net losses that ranged from about US$2.7m to US$32.7m. This shows that higher sales have not yet translated into profits.
  • Forecasts that Rumble could become profitable within three years rely on this growth continuing, alongside losses that expanded at about 56.9% a year historically moving closer to break even.

Losses widened again in Q4 2025

• Net loss in Q4 2025 came in around US$32.7m compared with about US$16.3m in Q3 and US$30.2m in Q2, while basic EPS moved from a loss of US$0.06 in Q3 to a loss of roughly US$0.13 in Q4.
• Bears argue that Rumble’s focus on growth over profitability, including continued cash burn and heavier spending on creator incentives and infrastructure, raises the risk of sustained operating losses if monetization does not keep pace.
  • The quarterly pattern, with revenue holding in the mid US$20m range and losses fluctuating between roughly US$2.7m and US$32.7m across FY 2025, aligns with the cautious view that higher operating costs can outweigh current monetization.
  • Trailing 12 month net losses of about US$81.8m against revenue of roughly US$100.6m also echo bearish concerns that earnings could remain pressured if Rumble keeps prioritizing expansion and AI or cloud projects over near term profit.

On these numbers, skeptics see plenty of room for debate on how fast Rumble can close the gap between strong growth and meaningful profitability. 🐻 Rumble Bear Case

Premium 16.6x P/S multiple sets a high bar

• Rumble trades on a reported P/S of 16.6x, compared with about 1x for the wider US Interactive Media & Services industry and 2.1x for peers, while the current share price is US$4.91 and analysts’ reference price target in the supplied data is US$22.00.
• Bulls point to forecast revenue and earnings growth of roughly 42.9% a year and argue that products like Rumble Wallet, international expansion and cloud services could justify paying a premium multiple if they scale well.
  • The gap between a 16.6x P/S and the 1x industry reference level means the bullish view is effectively asking investors to pay much more for each US$ of Rumble’s US$100.6m in trailing sales than for many other platforms.
  • Analyst scenarios in the supplied narratives also assume the company would need to support very high future P/E multiples on projected earnings around US$21m, which shows how much of the bullish thesis is already embedded in expectations today.

Supporters who see this premium as justified often point to catalysts the market debate is wrestling with right now. 🐂 Rumble Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Rumble on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

If this mix of bullish and bearish points leaves you undecided, it may be useful to act promptly and review the underlying data for yourself. You can see what investors are optimistic about by reviewing the 1 key reward.

See What Else Is Out There

Rumble is still pairing roughly US$100.6m in sales with sizeable losses, a premium 16.6x P/S multiple and no clear path to near term profitability.

If that mix of high valuation and ongoing losses feels too aggressive for your comfort, you may want to quickly scan 63 resilient stocks with low risk scores to find companies where the numbers point to more resilient risk profiles.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.