Rumble Inc. (NASDAQ:RUM) shares fell Friday morning following announcements of a new partnership and updates on its Northern Data acquisition and quarterly results.
• Rumble shares are sliding. What’s weighing on RUM shares?
Rumble Expands Content Push With Enhanced Games Partnership
Rumble partnered with Enhanced Group, Inc. (NYSE:ENHA) to become the official distribution partner for the inaugural Enhanced Games in Las Vegas on May 24.
The partnership also includes content development and marketing initiatives tied to Enhanced’s Live Enhanced platform. Enhanced plans to use the Rumble Advertising Center to grow its consumer base.
Rumble Reports Revenue Growth and User Gains
Rumble reported record first-quarter revenue of $25.5 million, up 7% year over year, driven by growth in subscriptions, advertising, and licensing revenue. Monthly active users increased 8% sequentially to 56 million.
Net loss widened to $30.3 million from $2.7 million a year earlier, primarily due to non-cash changes in the warrant liability, acquisition-related costs, and higher digital asset charges. Adjusted EBITDA …