RUM Posts Record Second-Quarter Revenue of $40.4 Million, Up 61% Year Over Year
Key Facts
RUM Group reported record revenue of $40.4 million in the second quarter of 2026, up 61% year over year, according to the results statement attached to its official filing. The acquisition of Northern Data AG closed on June 17, making the German company part of the group during the quarter. In a subsequent filing, RUM said an additional share purchase raised its stake in Northern Data from about 85.2% to about 98%. It added that the remaining shares, representing about 2%, are targeted by squeeze-out proceedings. The developments combine RUM’s expanded ownership of Northern Data with record quarterly results, while completion of the squeeze-out remains subject to legal and corporate procedures.
RUM’s stake in Northern Data began at about 85.2% of outstanding shares after the original acquisition closed on June 17, 2026, according to the company’s filing with the U.S. Securities and Exchange Commission. In its second-quarter results, RUM described quarterly revenue of $40.4 million as a record and said it had risen 61% from the same period a year earlier. It also said revenue increased 58% quarter over quarter. The Northern Data deal closed on June 17, within the period covered by the quarter. RUM later announced that the additional share purchase lifted its stake to about 98%, from about 85.2% before the purchase.
The squeeze-out proceedings target the remaining shares in Northern Data, which RUM said account for about 2% of outstanding shares after its stake rose to about 98%. The company’s filing says German corporate law provides for a squeeze-out when ownership reaches at least 95% of the capital. Treasury shares and shares held on behalf of RUM are excluded from the calculation, according to the company’s annual report. RUM held about 85.2% after the original acquisition closed in June, before purchasing additional shares. That puts the stake disclosed after the purchase above the threshold cited in the filing for the legal process.
Reaching the targeted stake does not automatically complete the process. Northern Data said the squeeze-out under German corporate law remains conditional on a resolution by the company’s general meeting. The resolution to transfer the shares must also be registered in the commercial register. It added that cash compensation for the affected shareholders will be determined after a valuation of the company. The filing did not state an amount for the compensation. The next steps therefore remain tied to the meeting’s resolution and registration, as well as determining the cash consideration.
Against the backdrop of the relationship between the two companies, Northern Data said on August 24, 2026, that it was in constructive negotiations with RUM over a long-term lease for its site in Miesville, Georgia. The company described the negotiations at the time as advanced. It said a potential contract could provide recurring and stable rental revenue. This followed the original acquisition’s closing on June 17, when RUM held about 85.2% of the outstanding shares. These disclosures show a sequence that began with the acquisition of a majority stake, followed by the purchase of an additional stake, alongside discussions of operational arrangements for the site.