RUM Group Posts First Adjusted EBITDA Profit

The Tip Desk · November 12, 2026 · 3 min read

Third-quarter revenue reached $96.6 million, 3.8% above the top of the company’s $87 million to $93 million outlook.

RUM Group Inc. (RUM), an AI infrastructure and video company, reported record third-quarter revenue of $96.6 million, up 290% from a year earlier and 3.8% above the top of its $87 million to $93 million outlook.

The quarter marked the first profitable period in the company’s history on an Adjusted EBITDA basis, at $4.4 million, versus a $15.1 million Adjusted EBITDA loss in the year-ago quarter. GAAP results remained a loss: net loss attributable to RUM Group was $79.9 million, or $0.19 a share, compared with a $16.3 million loss, or $0.06 a share, a year earlier.

Quake AI, the cloud and AI-infrastructure unit formed after the June 17, 2026 close of the Northern Data acquisition, contributed $68.2 million, or more than 70% of total revenue, in its first full quarter. Those sales came from GPU cloud computing on a reserved or on-demand basis and from data-center hosting and colocation. The company said utilization of its existing fleet of approximately 22,000 NVIDIA GPUs was about 85%.

Rumble, the video platform, added $3.6 million of revenue versus the year-ago quarter, driven by a $5.6 million increase in advertising, partially offset by a $2.0 million decrease in other services. Other services included a $1.2 million drop in subscriptions and a $0.8 million drop in licensing, platform hosting fees and other revenue.

Cost of services rose $32.0 million to $57.2 million, which the company attributed to $30.0 million of Quake AI data-center costs and $3.1 million of higher programming and content costs, partly offset by a $1.1 million decrease in other cost of services. General and administrative expenses increased $15.4 million to $25.9 million, with Northern Data contributing $11.0 million of payroll and related administrative costs. Research and development rose $3.3 million to $7.7 million and sales and marketing rose $2.6 million to $7.7 million.

Amortization and depreciation for the quarter was $85.2 million, versus $3.9 million a year earlier. Interest expense, net, was $3.7 million.

During the quarter the company acquired an additional 8.26 million shares of Northern Data, lifting ownership from 85.2% to about 98%, and commenced squeeze-out proceedings under the German Stock Corporation Act, expecting 100% ownership in early 2027. It also announced a long-term distribution and content partnership with WWE to host the weekly premium program WWE Main Event.

The company said that, due to market conditions, a certain portion of previously disclosed 250 megawatts of unmonetized capacity targeted for 2027 may be pushed out beyond 2027. In the third quarter it began a cost reset in video tied to a refocused strategy and said it expects to start seeing related savings through 2027.

As of September 30, 2026, total liquidity was $142.3 million, consisting of $134.4 million in cash and cash equivalents and 94.68 Bitcoin valued at $7.9 million. Property and equipment, net, stood at $899.7 million, and convertible notes payable were $358.8 million.

RUM Group provides a fourth-quarter 2026 revenue outlook of $88 million to $94 million. Chief executive Chris Pavlovski said Quake AI is now the engine of the business and that the 22,000-GPU estate is nearly sold out at 85% utilization.