Rumble Inc. ( RUM ) shares are trading lower on Tuesday.

The company reported fourth-quarter sales of $30.20 million (+48% year over year), beating the analyst consensus estimate of $29.73 million.

Average Revenue Per User for the fourth quarter was $0.39, compared to $0.33 in the third quarter, an increase of 18%.

The increase from the third quarter is attributable to higher advertising and subscription revenue.

Adjusted EBITDA was a loss of $13.4 million, representing an improvement of $16.6 million year over year.

As of December 31, Rumble’s balance of cash and equivalents was approximately $114.0 million.

Average global Monthly Active Users was 68 million in the fourth quarter of 2024, compared to 67 million in the third quarter. 

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Rumble’s Chairman and CEO Chris Pavlovski commented, “While I am pleased with our topline quarterly growth of 48% year over year, I am even more impressed with the third to fourth quarter growth in U.S. and Canada MAUs of 21% to 52 million.”

Rumble’s Board of Directors approved a $20 million strategy to diversify the company’s cash reserves into Bitcoin.

The company said this move highlights Rumble’s belief in Bitcoin’s value and its plans to expand into cryptocurrency.

“As I look ahead, with the Tether transaction now closed, I could not be more excited about the possibilities and the new era we are entering for Rumble,” Pavlovski added.

The company reported a loss per share of $1.15, which may not be comparable to the consensus loss of $0.12.

Outlook: For the first quarter, the company expects at least 25% revenue growth year over year.

It is also moving towards Adjusted EBITDA breakeven in 2025, with the new capital from Tether providing increased flexibility to invest in initiatives that may accelerate and expand the business.

Price Action: RUM shares are trading lower by 1.11% to $7.921 at last check Tuesday.

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