Q1 2025 Rumble Inc Earnings Call
Good afternoon, ladies and gentlemen, and welcome to <unk> Incorporated's first quarter 'twenty 25 earnings call. All participants are in a listen only mode.
Speaker Change: And answer session will follow the formal presentation, if anyone should require operator assistance during the conference. Please press the Star Key then zero on your telephone keypad. Please note. This event is being recorded I would now like to turn the conference over to Shannon Devine Investor Relations for Rumble. Please go ahead.
Thank you.
Speaker Change: Before we begin the formal presentation, I would like to remind everyone that statements made on this call may include predictions, estimates, or other information that might be considered for as looking.
Speaker Change: All four looking statements are made only as of the date of this call and should be considered in conjunction with the cautionary statements in our earnings release.
Speaker Change: and the factors included in our filings with the SEC. Future company updates will be available, be a press release, and the company's identified social media channels. I will now turn the call over to Rumble Sounder, Chairman and CEO , Chris Pavlovski.
Speaker Change: Thanks Shannon. Our first quarter marked the beginning of a new era, where we turned the page from a US election and solidified our balance sheet with the clothes of our Tether Transaction in February .
Speaker Change: In addition to this, the first quarter showed real signs of success, especially around Rumble video, Rubble Ad and Rubble Cloud.
Speaker Change: With respect to the video business, I was excited to see a clear payback from our investments in the Rumble product.
Speaker Change: Our user retention in Q1 greatly exceeded the previous post midterm election cycle. Something our team was laser focused on accomplishing since Q1 2020-23.
Speaker Change: Specifically, we posted MEU's of 59 million this quarter, which is an 87% retention from Q4. This is a massive improvement from the 60% retention we experienced in Q1 2023 after the U.S. midterm elections back in Q4 2022.
Speaker Change: while we still have a lot of work to do to continue to improve retention across our portfolio of applications.
Speaker Change: I am proud of how far we have come in so little time.
Speaker Change: In my mind, this was a critical temperature check for the video product. This is now our 13th consecutive quarter over 40 million MAUs and 7th consecutive quarter exceeding 50 million MAUs, further demonstrating the stability and continued growth of our core user base.
Speaker Change: In addition, I am pleased with our revenue growth of 34% compared to the same quarter last year.
Speaker Change: Now, with more positive news, let's dive into the Rumble advertising business. We previously noted that we expect to see some of the artificial headwinds we faced with corporate America to turn into tailwinds with the new administration in the US.
Speaker Change: While it is still very early, I can now confidently say, we are starting to see traction. In fact, we have some notable names and partnerships. These include a brand campaign we successfully executed with Netflix.
Speaker Change: and we are currently executing on campaigns for crypto.com and Chevron. These campaigns include a mix of media across rack and creator sponsorships, which validates the value of our diversified offering for larger brand advertisers.
Speaker Change: on the product side with RAC. We are also actively exploring both programmatic and AI-based tools to expand and accelerate progress in this segment.
Speaker Change: While these technologies have great potential, we do expect the penetration of this segment in a scale to take some time before it meaningfully contributes to our advertising business.
Speaker Change: Before I jump into cloud, I want to touch on one of the more ambitious projects Rumble is undertaking in partnership with Tether, the Rumble Wallet.
Speaker Change: Rumble Wallet is still in its development stage, but I'm happy to announce that we'll be aiming to bring this product to market in Q3 of this year. Additionally, we're currently in talks with major crypto exchanges to become their on and off ramp partner.
Speaker Change: The Rumble Wallet will be Rumble's gateway to monetize international markets. The development teams are also working expeditiously to localize the Rumble video product in various languages so that we can launch all international markets simultaneously with the Wallet.
Speaker Change: Our management team sees this as a major growth opportunity for the company. Not only can this contribute to major MAU growth, but we also think there is an enormous potential to monetize with the wallet, either through the on-off ramp exchanges and or through the creator economy.
Speaker Change: to be very clear, Rumble Wallet in partnership with Tether will directly compete with Coinbase. Our goal is to become the most prominent non-custodial Bitcoin and Stablecoin Wallet.
Speaker Change: Now with respect to Rumble Cloud, we are super proud to have announced the cloud partnership with the government of El Salvador in the first quarter. Through this pertinent partnership, we expect to refine our product offering to serve the government vertical and expand into other opportunities.
Speaker Change: It is becoming increasingly clear that there is a real appetite for the Rumble Cloud at the highest levels of government around the world. In addition, we also made further progress with the sports vertical, where we announce that the Tampa Bay Buccaneers will be joining our cloud and leveraging our storage solutions.
Speaker Change: With these announcements, we continue to be energized by the potential of the cloud business.
Speaker Change: Before I conclude, I want to touch on one other strategy that might not be as noticeable as the rest.
Speaker Change: In the past, Rumble hasn't been shy to acquire businesses such as calling and locals.
Speaker Change: In addition to investing in our core three products, Rumble Video, Rumble Ads, and Rumble Cloud, our management team is still very seriously focused on M&A strategy and evaluating strategic opportunities as they come.
Speaker Change: 2025 is off to a great start. The video product is sticking users in a way it couldn't after the 2022 midterm elections.
Speaker Change: Cloud continues to strengthen, and brands are finally starting to knock on our door. I have to say, on a personal note, I was waiting for the quarter that I could finally announce that we secured one brand advertiser, and today I was able to name several.
Speaker Change: Now I'll pass to Brandon Alexandroff to walk through the financials.
Brandon Alexandroff: Thanks, Chris. I'll now take you through our first quarter 2025 financials at a very high level before turning the call over to the operator for Q&A.
Brandon Alexandroff: For the first quarter of 2025, we recorded revenues of $23.7 million.
Brandon Alexandroff: An increase of 6 million or 34 percent when compared to 17.7 million in the first quarter of 2024 of which 4.6 million is attributable to higher audience monetization and 1.4 million was attributable to higher other initiatives.
Brandon Alexandroff: The increase in audience monetization revenues was due to 3.6 million and higher subscription revenue as well as 1 million from tipping fees, licensing, platform hosting and advertising.
Brandon Alexandroff: The increase in other initiatives revenue was due to a 1.1 million increase in advertising inventory being monetized by our publisher network and a 0.3 million increase in cloud services offer.
Brandon Alexandroff: RPU was 34 cents for the first quarter compared to 39 cents in the fourth quarter of 2024. The decrease from the fourth quarter was attributable to lower advertising revenue offset by higher subscription revenue.
Brandon Alexandroff: Cost of services decreased to 30 million for the quarter compared to 31.8 million in the first quarter of 2024, primarily due to a reduction in programming and content costs of 3 million, offset by an increase.
Brandon Alexandroff: of 1.2 million in other costs of services including payment processor fees and costs paid to publishers.
Brandon Alexandroff: Drawing your attention to General and Administrative Expenses of 16.6 million in the quarter, the 7.3 million increase compared to the first quarter of 2024 is primarily the result of two one-time payroll and related events.
First.
Brandon Alexandroff: A one-time $4.8 million increase in compensation costs related to the amicable departure of an executive and a director of the
Brandon Alexandroff: and is a result of accelerating the vetting of options in RSUs and extending the exercise.
Period of options
Brandon Alexandroff: and second, a one-time 2.3 million increase in payroll taxes associated with stock options exercise in relation to the tender offer stemming from the strategic investment from
Brandon Alexandroff: Adjusted EBITDA loss for the first quarter 2025 was 22.7 million, a 14% improvement compared to a loss of 26.5 million in the first quarter of 2024.
Brandon Alexandroff: As we ramp up monetization and maintain discipline around our cost structure, we continue to expect to move materially towards adjusted EBITDA break even in 2025.
Brandon Alexandroff: This remains the goal today, and with the recently closed capital infusion from Tether, we have the increased flexibility to further invest in initiatives that could accelerate and expand our business sooner than originally anticipated.
Brandon Alexandroff: Moving to our cash position, we ended the quarter with $301.3 million in cash and cash equivalents, a significant increase from the 114 million of cash we had at the end of 2024 as a result of the tether investment.
Brandon Alexandroff: We also held approximately 211 Bitcoin at quarter-end, all of which was purchased during the quarter, and is worth approximately 21.3 million as of noon today, May 8th, 2025.
Speaker Change: That concludes my prepared remarks. I will now turn the call over to the operator to open up the line for questions.
Speaker Change: At this time, if you would like to ask a question, please press the start and one on your telephone keypad. You may remove yourself from the queue by pressing start two. Once again, that is start and one if you would like to ask a question. And we'll take our first question from Scott Devitt with Wetbush. You're honest now open.
Scott Divitt: Hey guys, I wanted to ask a little bit about the get going efforts and the wallet.
The, um, you know, what?
Speaker Change: Ultimately, are you trying to accomplish with the Bitcoin treasury? It can terms of how you think of it?
Acquiring Bitcoin in relation to traditional.
Scott Divitt: Cash, and you know where you're comfortable taking Bitcoin levels to relative to the needs to possibly have more liquidity in terms of cash or you're thinking of them.
similarly in terms of...
Scott Divitt: and being one exchange for the other is the Bitcoin to fund the business when you need it as well. Just slow curious about that given the differences in the volatility. That's the first question and then I had to follow up on the wallet.
in Tip and Subscribe and Transact, especially in international markets.
Scott Divitt: to their favorite creators and creators can use these wallets as a form of payment and a form of receiving payment, etc. So as that becomes like a very important part of our business when we launch the wallet later this year in Q3, that's one of the strategies behind having a treasury so that we can be able to hold more and further Bitcoin with respect to that.
Speaker Change: Got it, but no ambitions at the moment anyway that you've discussed about raising the ratio of Bitcoin relative to the cash position.
Beyond levels that it currently resides at
Speaker Change: We're continuing to evaluate that and we haven't really made any determinations on that quite yet, but at this point right now the only thing that we've approved at the board level is up to 20 million of purchasing.
Speaker Change: Okay, and then on the wallet, can you just walk through the, I think, the go to market or like the use case for the user in terms of why?
Speaker Change: What are the reasons 1, 2, 3 why a user ultimately will adopt the Rumble wallet to store?
Speaker Change: their crypto and utilize it for the functionality that provides versus coin base or others in the market and kind of how you you think about that. Why, you know, where you fit in the market and why?
Speaker Change: So one of the demands that we have on the creator side is to get paid in Bitcoin or get paid in a stable coin and there's obviously a huge demand for that on the creator end and the creators that adopt Rumble have a huge trust factor with Rumble.
Speaker Change: So we believe that Rumble would be one of their, you know, most prominent places to hold and store with a Rumble Non-Constodial Wallet. In addition to that, there's, when you start exploring these,
Rumble, all the Rumble content.
Speaker Change: and be able to go to these markets and serve these different markets. But we do believe that you know, USD Tether, with their amount of users around the world, we can very easily tap into that and bring a lot of that revenue into the crater economy.
Speaker Change: So I would say like starting from the top, the demand from the creators, the demand from the number one, number two is the demand from the users, and this would be [inaudible]
Speaker Change: The first platform that I know of that attacks this market in the way that we're going to do it with the wallet.
Speaker Change: And last question, given this is so relatively new, historically you've had the cloud business and the content business and the overlay increasingly of monetization efforts on the content business. How do you think about, you know,
Speaker Change: Bitcoin, crypto, the wallet in terms of how integral it is to the business and coming years, you know, relative to
What the operating business was prior to that?
Speaker Change: I don't believe this changes the operating business at all. I think this complements the business in its entirety. We're seeing a lot of demand from crypto customers on cloud. We have a bunch of them. We have a significant one actually testing it right now. And then in addition to that, it's a tool that creators and our viewers actually want. A lot of these, a lot of these creators desire getting tips and in Bitcoin.
Thank you for your time.
Speaker Change: So we see this as like extremely complimentary, not distracting at all and just it just drives home with our current ethos.
Perfect. Thank you so much.
Thank you.
Speaker Change: Thank you. And once again, let us start in to one if you would like to ask a question. We'll take our next question from Francisco Momo with Maxim Group. Your line is open.
Speaker Change: Great news, I was wondering whether you guys could share the modators on the partnerships maybe the scope, the duration, maybe if you already have some initial feedback either from the brands or the others.
Speaker Change: In terms of the only one brand campaign completed and we received very positive feedback on that one brand campaign that was with Netflix and currently ongoing right now we have Chevron and we have crypto.com so we're hoping to get more feedback in the coming weeks and months.
Speaker Change: on that. But yeah, to me, a major win, this is not something I was able to talk much about in the past. We never really had brand advertisers and all of a sudden now that's something we're talking about. So it's a huge win for Rumble.
Speaker Change: It happened right after the elections, which I think says a lot, and I hope to see a lot more of that as the months progress.
Speaker Change: That's amazing. And would you look forward to hear more as the partnerships evolve?
Speaker Change: in terms of what you're thinking, what kind of assets maybe, what kind of verticals or what kind of capabilities you would be interested to add on.
Speaker Change: I can't provide any more information other than what I already said. We're going to look at opportunities as they come and this is a very important focus for us in the current year.
Okay, okay, that makes perfect sense. Thank you, and congratulations again.
Speaker Change: Thank you. Thank you. This does conclude today's program. Thank you for your participation. You may just connect at any time and have a wonderful day.
For more information, visit www.naffesh.com
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Scott Devitt, Thomas Forte, Jason Helfstein, Jason Helfstein [inaudible]
Speaker Change: All participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press the star key, then zero on your telephone keypad.
Speaker Change: Please note this event is being recorded. I would now like to turn the conference over to Shannon Devine, Investor Relations for Rumble. Please go ahead.
Shannon Devine: Thank you, operator. I'm here today with Chris Pavlovski, founder, chairman, and CEO of Rumble.
Speaker Change: and Brandon Alexandroff, BFO. Approach release, detail in our first quarter, 2025 results was released today, and available on the Investor Relations section of our website.
Speaker Change: and the factors included in our filings with SEC. Future company updates will be available, be a press release, and the company's identified social media channels. I will now turn the call over to Rumble Sounder, Chairman and CEO , Chris Pavlovski.
Chris Pavlovski: Thanks Shannon. Our first quarter marked the beginning of a new era where we turned the page from a US election and solidified our balance sheet with the clothes of our tether transaction in February .
Chris Pavlovski: In addition to this, the first quarter showed real signs of success, especially around Rumble video, Rubble Ad and Rubble Cloud.
Chris Pavlovski: With respect to the video business, I was excited to see a clear payback from our investments in the Rumble product.
Chris Pavlovski: Our user retention in Q1 greatly exceeded the previous post midterm election cycle, something our team was laser focused on accomplishing since Q1, 2020-3.
Chris Pavlovski: Specifically, we posted MEU's of $59 million in this quarter, which is an 87% retention from Q4.
Chris Pavlovski: This is a massive improvement from the 60% retention we experienced in Q1 2023 after the US midterm elections back in Q4 2022.
Chris Pavlovski: While we still have a lot of work to do to continue to improve retention across our portfolio of applications, I am proud of how far we have come in so little time. In my mind, this was a critical temperature check for the video product.
Chris Pavlovski: This is now our 13th consecutive quarter over 40 million MAUs and 7th consecutive quarter exceeding 50 million MAUs, further demonstrating the stability and continued growth of our core user base.
Chris Pavlovski: In addition, I am pleased with our revenue growth of 34% compared to the same quarter last year.
Chris Pavlovski: Now, with more positive news, let's dive into the Rumble advertising business. We previously noted that we expect to see some of the artificial headwinds we faced with corporate America to turn into tailwinds with the new administration in the US.
Chris Pavlovski: While it is still very early, I can now confidently say that we are starting to see traction. In fact, we have some notable names and partnerships. These include a brand campaign we successfully executed with Netflix. [inaudible]
Chris Pavlovski: and we are currently executing on campaigns for crypto.com and Chevron. These campaigns include a mix of media across rack and creator sponsorships, which validates the value of our diversified offering for larger brand advertisers.
Chris Pavlovski: on the product side with RAC. We are also actively exploring both programmatic and AI-based tools to expand and accelerate progress in this segment.
Chris Pavlovski: While these technologies have great potential, we do expect the penetration of this segment in that scale to take some time before it meaningfully contributes to our advertising business.
Chris Pavlovski: Before I jump into cloud, I want to touch on one of the more ambitious projects Rumble is undertaking in partnership with Tether.
The Rumble Wallet
Chris Pavlovski: Rumble wallet is still in its development stage, but I'm happy to announce that we'll be aiming to bring this product to market in Q3 of this year. Additionally, we're currently in talks with major crypto exchanges to become their on and off ramp partner.
Chris Pavlovski: The Rumble wallet will be Rumble's gateway to monetize international markets. The development teams are also working expeditiously to localize the Rumble video product in various languages so that we can launch all international markets simultaneously with the wallet.
Speaker Change: To be very clear, Rumble Wallet in partnership with Tether will directly compete with Coinbase. Our goal is to become the most prominent non-custodial Bitcoin and Stablecoin Wallet.
Speaker Change: Now with respect to Rumble Cloud, we are super proud to have announced the Cloud partnership with the government of El Salvador in the first quarter. Through this pertinent partnership, we expect to refine our product offering to serve the government vertical and expand into other opportunities.
Speaker Change: It is becoming increasingly clear that there is a real appetite for the Rumble Cloud at the highest levels of government around the world.
Speaker Change: In addition, we also made further progress with the sports vertical where we announce that the Tampa Bay Buccaneers will be joining our cloud and leveraging our storage solutions.
Speaker Change: with these announcements we continue to be energized by the potential of the cloud business.
Speaker Change: Before I conclude, I want to touch on one other strategy that might not be as noticeable as the rest [inaudible]
Speaker Change: In the past, Rumble hasn't been shy to acquire businesses such as calling and locals.
Speaker Change: In addition to investing in our core three products, Rumble Video, Rumble Ads, and Rumble Cloud, our management team is still very seriously focused on M&A strategy and evaluating strategic opportunities as they come.
Speaker Change: 2025 is off to a great start. The video product is sticking users in a way it couldn't after the 2022 midterm elections.
Speaker Change: Cloud continues to strengthen, and brands are finally starting to knock on our door. I have to say, on a personal note, I was waiting for the quarter that I could finally announce that we secured one brand advertiser, and today I was able to name several.
Speaker Change: Now, I'll pass to Brandon Alexandroff to walk through the financials.
Brandon Alexandroff: Thanks, Chris. I'll now take you through our first quarter 2025 financials at a very high level before turning the call over to the operator for Q&A.
Brandon Alexandroff: For the first quarter of 2025, we recorded revenues of $23.7 million.
Brandon Alexandroff: An increase of $6 million or 34% when compared to $17.7 million in the first quarter of 2024 of which $4.6 million is attributable to higher audience monetization and $1.4 million was attributable to higher other initiatives.
Brandon Alexandroff: The increase in audience monetization revenues was due to 3.6 million and higher subscription revenue, as well as 1 million from tipping fees, licensing, platform hosting, and advertising.
Brandon Alexandroff: The increase in other initiatives revenue was due to a 1.1 million increase in advertising inventory being monetized by our publisher network and a 0.3 million increase in cloud services
Brandon Alexandroff: RQ was 34 cents for the first quarter compared to 39 cents in the fourth quarter of 2024. The D-trees from the fourth quarter was attributable to lower advertising revenue offset by higher subscription revenue.
Brandon Alexandroff: Costs and services decreased at 30 million for the quarter, compared to 31.8 million in the first quarter of 2024. Primarily due to a reduction in programming and content costs of 3 million, offset by an increase.
Brandon Alexandroff: of 1.2 million in other costs of services including payment processor fees and costs paid to publishers.
Brandon Alexandroff: Drawing your attention to General and Administrative Expenses of 16.6 million in the quarter, the 7.3 million increase compared to the first quarter of 2024 is primarily the result of two one time payroll and related events.
First.
Brandon Alexandroff: Related to the amicable departure of an executive and a director [inaudible]
Brandon Alexandroff: of which $3.8 million was non-cashed and is a result of accelerating the best thing of options in RSUs and extending the exercise.
Brandon Alexandroff: period of options, and second, a one-time 2.3 million increase in payroll taxes associated with stock options exercised in relation to the tender offer stemming from the strategic investment from Tether.
Brandon Alexandroff: Adjusted EBITDA loss for the first quarter 2025 was 22.7 million, a 14% improvement compared to a loss of 26.5 million in the first quarter of 2024.
Brandon Alexandroff: As we ramp up monetization and maintain discipline around our cost structure, we continue to expect to move materially towards adjusted EBITDA break even in 2025.
Brandon Alexandroff: This remains the goal today, and with the recently closed capital infusion from Tether, we have the increased flexibility to further invest in initiatives that could accelerate and expand our business sooner than originally anticipated.
Brandon Alexandroff: Moving to our cash position, we ended the quarter with $301.3 million in cash and cash equivalent, a significant increase from the 114 million of cash we had at the end of 2024 as a result of the
Brandon Alexandroff: We also held approximately 211 Bitcoin at quarter end, all of which was purchased during the quarter, and is worth approximately 21.3 million as of noon today, May 8th, 2025.
Speaker Change: That concludes my prepared remarks. I will now turn the call over to the operator to open up the line for questions.
Speaker Change: At this time, if you would like to ask a question, please press the star and one on your telephone keypad. You may remove yourself from the queue by pressing star two. Once again, that is star and one if you would like to ask a question.
The... What? What?
Scott Divitt: Ultimately, are you trying to accomplish with the Bitcoin treasury, it in terms of how you think of it?
Scott Divitt: Cash, and you know, where you're comfortable taking Bitcoin levels to raw efficiency, the needs to possibly have more liquidity in terms of cash or you're thinking of them.
similarly in terms of...
Scott Divitt: and being one exchange for the others, you can use the Bitcoin to fund the business when you need it as well. Just a little curious about that given the differences in the volatility. That's the first question, and then I had to follow up on the wallet. [inaudible]
Scott Divitt: Yeah, so thanks for the question. This is Chris. With respect to the Treasury, our board approved up to $20 million of purchasing for the Bitcoin Treasury. There is no further strategy outside of that that we've announced at this point right now.
Scott Divitt: But, you know, this kind of dovetails into the strategy that we have with the Rumble wallet.
Scott Divitt: As we launched the Rumble wallet, we're really looking to use that as one of the tools for the creator economy where people can tip and subscribe and transact, especially in international markets.
Scott Divitt: to their favorite creators and creators can use these wallets as a form of payment and a form of receiving payment, etc. So as that becomes like a very important part of our business when we launch the wallet later this year in Q3, that's one of the strategies behind having a treasury so that we can be able to hold more and further Bitcoin with respect to that.
Speaker Change: Got it. But no, no ambitions at the moment anyway that you've discussed about like raising the ratio of Bitcoin relative to the cash position. And, um,
Beyond levels that it currently resides at
Speaker Change: We're continuing to evaluate that and we haven't really made any determinations on that quite yet but at this point right now the only thing that we've approved at the board level is up to 20 million of purchasing.
Speaker Change: Okay, and then on the wallet, can you just walk through the go-to-market or the use taste for the user in terms of why?
Speaker Change: What are the reasons 1, 2, 3, why a user ultimately will adopt the Rumble wallet to store their crypto and utilize it?
Speaker Change: for the functionality that provides versus coin base or others in the market and kind of how you think about that, where you fit in the market and why.
Speaker Change: So one of the demands that we have on the crater side is to get paid in Bitcoin or get paid in a stable coin and there's obviously a huge demand for that on the crater end and the craters, you know, that adopt Rumble have a huge trust factor with Rumble.
Speaker Change: So we believe that Rumble would be one of their most prominent places to hold and store with a Rumble non-consodial wallet.
all the Rumble content.
Speaker Change: and be able to go to these markets and serve these different markets. But we do believe that USD Tether, with their amount of users around the world, we can very easily tap into that and bring a lot of that revenue into the crater economy.
Speaker Change: So I would say like starting from the top, the demand from the creators, the demand from the is number one number two is the demand from the users and this would be the demand.
Speaker Change: The first platform that I know of that attacks this market in the way that we're going to do it with the wallet.
Speaker Change: And last question, given this is still relatively new, historically you've had the cloud business and the content business and the overlay increasingly of monetization efforts on the content business. How do you think about, you know,
Speaker Change: Bitcoin crypto the wallet in terms of how integral it is to the business and coming years, you know, relative to
what the operating business was prior to that.
Speaker Change: I don't believe this changes the operating business at all. I think this compliments the business in its entirety. We're seeing a lot of demand from crypto customers on cloud. We have a bunch of them, we have a significant one actually testing it right now.
Speaker Change: It's a very desirable way of getting paid for creators and it's something that I believe will give us a real competitive advantage over YouTube. Having this on our platform is something that YouTube does not have, and creators in general are very, very pro Bitcoin, especially the crowd that you find on Rumble. [inaudible]
Speaker Change: So we see this as like extremely complimentary not distracting at all and just it just it just drives home with our current our current ethos
Scott Devitt,
Perfect, thank you so much.
Thank you. Bye.
Speaker Change: Thank you, and once again, let us start, and one, if you would like to ask a question, we'll take our next question from Francisco Momo with Maxim Group. Your line is open.
Speaker Change: and great news. I was wondering whether you guys could share these modators on the partnerships, maybe the scope, the duration, maybe if you already have some initial feedback, either from the brands or the others.
Speaker Change: In terms of the only one brand campaign completed and we received very positive feedback on that one brand campaign that was with Netflix and currently ongoing right now we have Chevron and we have crypto.com so we're hoping to get more feedback in the coming weeks and months.
Speaker Change: on that. But yeah, this is, to me, a major win, this is not something I was able to talk much about in the past. We never really had brand advertisers and all of a sudden now that's something we're talking about. So it's a huge win for Rumble.
Speaker Change: It happened right after the elections, which I think says a lot, and I hope to see a lot more of that as the months progress.
Speaker Change: That's amazing, and would you look forward to hear more as the partnerships are going?
Speaker Change: And then the second question on M&A, super, super high level, a bit of interesting comment in the opening remarks. I was wondering whether you guys gave us a sense.
Speaker Change: in terms of what you're thinking, what kind of assets maybe, what kind of verticals or what kind of capabilities you would be interested to add on.
Speaker Change: I can't provide any more information other than what I already said. We're going to look at opportunities as they come and this is a very important focus for us in the current year.
Speaker Change: Okay, okay, that makes perfect sense. Great, thank you, and congratulations again.
Speaker Change: Thank you. Thank you. This does conclude today's program. Thank you for your participation. You may disconnect at any time and have a wonderful day.