RUM Group Revenue Jumps 290% to $96.6 Million in Third Quarter
Key Facts
RUM Group said on November 11 that revenue reached $96.6 million in the third quarter ended September 30, a record and an annual increase of 290%. Revenue rose 139% from the second quarter and exceeded the top end of the company’s previous guidance by 3.8%. Most revenue came from Quake AI, which contributed $68.2 million in the quarter, compared with zero in the corresponding period of 2025. The company said the results included the first full quarter of consolidated revenue after it completed the acquisition of Northern Data on June 17, 2026. The figures reflect the growing contribution of the group’s AI computing business to total revenue during the period.
Quake AI had about 22,000 GPU units in its fleet in the third quarter, with a utilization rate of about 85%. The chief executive described the fleet as “nearly sold out,” referring to the utilization level the company recorded during the quarter. Management said supply and demand support higher prices, and that it expects upfront payments and higher prices when contracts are renewed. These expectations put renewal terms and future pricing at the center of the AI business’s revenue trajectory, without representing a confirmed pricing outcome.
On profitability, the company reported adjusted earnings before interest, taxes, depreciation and amortization of $4.4 million in the third quarter. It had reported an adjusted loss of $15.1 million in the third quarter of 2025 and a loss of $16.6 million in the second quarter of 2026. But the improvement in this measure did not prevent a net loss of $91.7 million in the quarter. The chief financial officer said the increase in the net loss was primarily non-cash. Rumble Video revenue was about $28.4 million, up 15% year over year, while the business recorded an adjusted loss before interest, taxes, depreciation and amortization of $12.1 million.
Rumble revenue increased by $3.6 million compared with the third quarter of 2025, driven by a $5.6 million increase in advertising revenue. Part of the increase was offset by a $2 million decline in other services revenue, including a $1.2 million drop in subscription revenue. As of September 30, the company had total liquidity of $142.3 million, including $134.4 million in cash and cash equivalents. The company also held 94.68 bitcoin, with a stated value of $7.9 million on the same date. These figures provide a snapshot of the revenue mix and liquidity at quarter-end, alongside the expansion of its data center business.
The company forecast revenue of between $88 million and $94 million in the fourth quarter of 2026. The chief financial officer said third-quarter results included slightly more than $3 million in revenue from a customer swap agreement, with a larger decline expected in the fourth quarter. In premarket trading on November 11, RUM shares rose 15.23% to $5.888, compared with a previous close of $5.11. The stock closed at $5.96 on November 11. On expansion, the company said some of the 250 megawatts of uninvested capacity it had targeted to bring online in 2027 could be delayed beyond that year because of market conditions.