RUM Group Revenue Jumps 61% as Northern Data Deal Closes
Rumble's parent posted record revenue of $40.4 million in the second quarter, up 61% from a year earlier, as the newly consolidated Northern Data business and accelerating video growth offset a widening net loss.
RUM Group (RUM) reported record second-quarter revenue of $40.4 million, up 61% from $25.1 million a year earlier and up 58% from $25.5 million in the first quarter. The company, which operates the Rumble video platform and is building out an artificial-intelligence compute business under the Quake AI brand, closed its acquisition of Northern Data on June 17, 2026, buying roughly 85.2% of its shares.
The acquisition reshaped the results. Northern Data contributed $10.1 million of revenue in the two weeks following the close, the first quarter in which its results were consolidated into RUM Group's financials. The underlying Rumble video business also accelerated on its own, posting record revenue of $30.3 million, up 21% from a year earlier and up 19% from the first quarter, compared with 7% year-over-year growth for Rumble revenue in the first quarter. The quarter reversed a growth deceleration that had shown up in the two prior periods: first-quarter revenue growth of 7% had itself slowed from 9% sequential growth in the fourth quarter.
The deal also widened losses sharply. Net loss reached $80.9 million, with a loss attributable to RUM Group of $79.1 million, or $0.28 a share, compared with a $30.2 million loss, or $0.12 a share, a year earlier. Total expenses rose 115% to $111.1 million against 61% revenue growth, driven by $28.3 million of acquisition-related transaction costs, up from $2.4 million, and $16.3 million of amortization and depreciation, up from $3.6 million.
The balance sheet expanded accordingly. Total assets grew to $2.12 billion at June 30 from $336.8 million at December 31, with goodwill rising to $415.2 million from $10.7 million and property and equipment rising to $913.8 million from $16.2 million, reflecting purchase accounting for the acquisition. The company also added $358.8 million of convertible notes payable tied to the deal's financing, versus none at year-end. Total liquidity fell to $220.5 million, made up of $203.3 million in cash and 293.14 Bitcoin worth $17.2 million, from $256.4 million at December 31.
On the compute side, GPU utilization at the Quake AI business held at approximately 85%, matching the level reported in March and marking a plateau after utilization climbed from 62% in December 2025 to 85% in March 2026. RUM Group is targeting approximately 250 megawatts of unmonetized power capacity by 2027, tied to a stated $3 billion-plus annual revenue opportunity, up from the more than 200 megawatts cited when the acquisition closed. Northern Data had separately raised its own full-year revenue outlook by roughly 30% at the close of the deal, to a range of EUR 170 million to EUR 190 million from a prior EUR 130 million to EUR 150 million guide.
RUM Group issued formal guidance for the first time, forecasting third-quarter revenue of $87 million to $93 million, after previously citing only an unofficial pro forma estimate of about $75 million in its first-quarter release.
The quarter's release also dropped several user-engagement metrics that had featured prominently in prior periods. Monthly active users, disclosed at 52 million in the fourth quarter and 56 million in the first quarter, were not reported for the second quarter, and average revenue per user, last disclosed at $0.46 in the fourth quarter, was also absent. The company likewise referenced its multi-year GPU cloud agreement with Together AI without restating the $270 million contract value disclosed when the Northern Data deal closed, as RUM Group's disclosure emphasis shifted toward the scale of its new AI infrastructure business.