09:51 AM EDT, 08/11/2025 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Rumble (RUM) shares were up more than 16% in recent Monday trading after the company reported Q2 financial results Sunday and said it plans to buy Northern Data.

The company reported a Q2 net loss of $0.12 per diluted share, compared with a loss of $0.13 a year earlier. Three analysts surveyed by FactSet expected a loss of $0.07.

Revenue for the quarter ended June 30 was $25.1 million, up from $22.5 million a year earlier. Three analysts polled by FactSet expected $26.8 million.

Rumble said it has informed German artificial intelligence and high-performance computing services provider Northern Data of its intent to acquire the company in an all-stock exchange deal.

Under Ruble's proposal, shareholders of Northern Data will receive 2.319 of the former's newly issued class A shares in exchange for each share in the company.

The deal also offers to give Northern Data stockholders a 33.3% total pro forma ownership in Rumble, according to the company.

The final exchange ratio will be determined after due diligence and negotiation, Rumble said. Cryptocurrency firm Tether, which completed a $775 million strategic investment in Rumble earlier in the year, is expected to become the company's biggest shareholder if the deal proceeds.

Price: 9.35, Change: +1.47, Percent Change: +18.65