Rumble Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Rumble Inc. has filed its 2023 annual report on Form 10-K, detailing its financial performance and corporate information.</b>

AI Summary

Rumble Inc. (RUMBW) filed a Annual Report (10-K) with the SEC on March 27, 2024. Rumble Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and has its principal executive offices in Longboat Key, Florida. Rumble Inc.'s Class A common stock trades on The Nasdaq Global Market under the symbol RUM, and its warrants trade under RUMBW. The filing indicates Rumble Inc. is an emerging growth company, a non-accelerated filer, and a smaller reporting company. The report covers the fiscal year ending December 31, 2023, and was filed on March 27, 2024.

Why It Matters

For investors and stakeholders tracking Rumble Inc., this filing contains several important signals. This filing provides a comprehensive overview of Rumble Inc.'s operations and financial standing for the fiscal year 2023, crucial for investors to assess the company's progress and future prospects. As an emerging growth company, Rumble Inc.'s filing may contain specific disclosures and exemptions relevant to smaller public entities, impacting how investors interpret its financial health and strategic direction.

Risk Assessment

Risk Level: low — Rumble Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate negative news or significant changes, indicating a routine disclosure.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand Rumble Inc.'s performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-27 — Filing Date (Date of filing)
• 001-40079 — Commission File Number (SEC file number)
• 85-1087461 — IRS Employer Identification No. (IRS Number)

Key Players & Entities

• Rumble Inc. (company) — Registrant
• Nasdaq Global Market (company) — Exchange on which registered
• RUM (company) — Trading Symbol
• RUMBW (company) — Trading Symbol
• Delaware (company) — State of incorporation
• 2024-03-27 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• CF Acquisition Corp. VI (company) — Former company name

FAQ

Industry Context

Rumble Inc. operates in the online video and content platform industry, competing with established players and emerging platforms.

Regulatory Implications

The filing adheres to the regulations set forth by the Securities and Exchange Commission (SEC) for annual reporting by public companies.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, expenses, and profitability trends.
2. Examine the 'Risk Factors' section to understand potential challenges and uncertainties facing Rumble Inc.
3. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into business performance and strategy.

Key Dates

• 2023-12-31: Fiscal Year End — The end of the reporting period for the annual financial statements.
• 2024-03-27: Filing Date — The date Rumble Inc. submitted its Form 10-K to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ended December 31, 2023, following the company's transition to a public entity.

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 per share RUM The Nasdaq Global Market
• $400 m — le with gross proceeds of approximately $400 million, prior to transaction expenses. T

Filing Documents

• ea0202455-10k_rumble.htm (10-K) — 1654KB
• ea020245501ex21-1_rumble.htm (EX-21.1) — 4KB
• ea020245501ex23-1_rumble.htm (EX-23.1) — 1KB
• ea020245501ex23-2_rumble.htm (EX-23.2) — 4KB
• ea020245501ex31-1_rumble.htm (EX-31.1) — 10KB
• ea020245501ex31-2_rumble.htm (EX-31.2) — 10KB
• ea020245501ex32-1_rumble.htm (EX-32.1) — 4KB
• ea020245501ex32-2_rumble.htm (EX-32.2) — 3KB
• ea020245501ex-97_rumble.htm (EX-97.) — 28KB
• image_001.jpg (GRAPHIC) — 18KB
• image_002.jpg (GRAPHIC) — 19KB
• image_003.jpg (GRAPHIC) — 18KB
• image_004.jpg (GRAPHIC) — 17KB
• image_005.jpg (GRAPHIC) — 3KB
• ex23-2_001.jpg (GRAPHIC) — 2KB
• ex23-2_002.jpg (GRAPHIC) — 2KB
• 0001213900-24-026599.txt (&nbsp;) — 8554KB
• rum-20231231.xsd (EX-101.SCH) — 101KB
• rum-20231231_cal.xml (EX-101.CAL) — 51KB
• rum-20231231_def.xml (EX-101.DEF) — 416KB
• rum-20231231_lab.xml (EX-101.LAB) — 767KB
• rum-20231231_pre.xml (EX-101.PRE) — 420KB
• ea0202455-10k_rumble_htm.xml (XML) — 894KB

Business

Business 1 Item 1A. Risk Factors. 7 Item 1B. Unresolved Staff Comments 31 Item 2.

Properties

Properties 32 Item 3. Legal Proceedings 32 Item 4. Mine Safety Disclosures 33 Part II 34 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 34 Item 6. [Reserved] 35 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 46 Item 8. Financial 47 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 48 Item 9A. Controls and Procedures 48 Item 9B. Other Information 49 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 49 Part III 50 Item 10. Directors, Executive Officers and Corporate Governance 50 Item 11. Executive Compensation 50 Item 12. Security 50 Item 13. Certain Relationships and Related Transactions, and Director Independence 50 Item 14. Principal Accountant Fees and Services 50 Part IV 51 Item 16. Form 10-K Summary 54

Signatures

Signatures 55 i Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K (this "Form 10-K") contains forward-looking statements regarding, among other things, our plans, strategies and prospects, both business and financial. These statements are based on the beliefs and assumptions of our management. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot provide assurance that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Investors should read statements that contain these words carefully because they discuss future expectations, contain projects of future results of operations or financial condition; or state other "forward-looking" information. Forward-looking statements are based on information available as of the date of this Form 10-K and may involve significant judgments and assumptions, known and unknown risks and uncertainties and other factors, many of which are outside our control. There may be events in the future that management is not able to predict accurately or over which we have no control. We do not undertake any obligation to update to otherwise correct any forward-looking statements contained herein to reflect events or circumstances after the date they were made, whether as a resul

forward-looking statements, including among other things

forward-looking statements, including among other things: our ability to grow and manage future growth profitably over time, maintain relationships with customers, compete within our industry and retain key employees; the possibility that we may be adversely impacted by economic, business, and/or competitive factors; our limited operating history makes it difficult to evaluate our business and prospects; our recent and rapid growth may not be indicative of future performance; we may not continue to grow or maintain our active user base, and may not be able to achieve or maintain profitability; risks relating to our ability to attract new advertisers, or the potential loss of existing advertisers or the reduction of or failure by existing advertisers to maintain or increase their advertising budgets; our recently launched cloud business may not achieve success, and, as a result, our business, financial condition and results of operations could be adversely affected; negative media campaigns may adversely impact our financial performance, results of operations, and relationships with our business partners, including content creators and advertisers; spam activity, including inauthentic and fraudulent user activity, if undetected, may contribute, from time to time, to some amount of overstatement of our performance indicators; we collect, store, and process large amounts of user video content and personal information of our users and subscribers. If our security measures are breached, our sites and applications may be perceived as not being secure, traffic and advertisers may curtail or stop viewing our content or using our services, our business and operating results could be harmed, and we could face governmental investigations and legal claims from users and subscribers; we may fail to comply with applicable privacy laws; ii we are subject to cybersecurity risks and interruptions or failures in our information technology systems and as we gr

View Full Filing

View this 10-K filing on SEC EDGAR