Free cash flow remains deeply negative with a -69.6% margin in 2026Q1, reflecting the heavy burden of infrastructure investments that continue to outpace revenue.
| Cash from Operations | -72.55M | -70.43M | -87.01M | -92.91M | -32.29M | -5.31M | 51.19K | 1.13M |
| Operating CF Margin % | - | -69.99% | -91.12% | -114.76% | -81.98% | -56.1% | 1.12% | 33.48% |
| Operating CF Growth % | -81.55% | 19.06% | 6.35% | -187.78% | -507.96% | -10474.01% | -95.45% | - |
| Net Income | -109.45M | 0 | -338.36M | -116.42M | -11.4M | -13.41M | -1.26M | -361.92K |
| Depreciation & Amortization | 11.46M | 0 | 13.61M | 12.63M | 2.08M | 249.74K | 45.26K | 42.18K |
| Stock-Based Compensation | 10.73M | 0 | 23.81M | 0 | 1.93M | 1.41M | 1.1M | 14.78K |
| Deferred Taxes | 0 | 0 | 0 | -3.32M | 0 | -128.46K | 0 | 0 |
| Other Non-Cash Items | -36.67M | -75.21M | 216.99M | 5.06M | -20.97M | 3.1M | -1.98K | 8.49K |
| Working Capital Changes | -3.32M | 4.78M | -3.07M | 9.14M | -3.93M | 3.46M | 162.56K | 1.42M |
| Change in Receivables | -3.24M | -3.03M | -4.34M | -674.98K | -2.94M | 139.27K | -660.74K | 1.38M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 3.89M | 8.76M | 0 | 9.61M | 8M | 3.62M | 746.4K | 38.36K |
| Cash from Investing | -8.48M | -26.05M | -15.64M | -23.77M | -10.14M | 1.58M | -68.81K | -54.34K |
| Capital Expenditures | -26.17M | -26.05M | -2.67M | -17.49M | -8.54M | -1.34M | -68.81K | -54.34K |
| CapEx % of Revenue | 25.56% | 25.89% | 2.8% | 21.6% | 21.69% | 14.15% | 1.51% | 1.62% |
| Acquisitions | 0 | 0 | -9.61M | -6.25M | 0 | 3.42M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | -1.41M | 0 | -3.36M | 0 | -494.77K | -500.45K | 0 | 0 |
| Cash from Financing | -1.22M | 220.39M | -1.67M | -2.15M | 332.79M | 49.13M | -423.52K | -103.33K |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | -2.17M | -361.19K | 322.59K | -47.63K |
| Equity Issued (Net) | -548.04K | 223.73M | -1.96M | -40.48K | -11M | 50M | -746.1K | -55.71K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -1.52M | -525M | -1.96M | 0 | -11M | 0 | -746.1K | -55.71K |
| Other Financing | -673.79K | -3.35M | 297.98K | -2.11M | 345.97M | -506.88K | 0 | 0 |
| Net Change in Cash | -82.25M | 123.9M | -104.32M | -118.83M | 290.32M | 45.4M | -441.25K | 970.47K |
| Free Cash Flow | -78.27M | -74.5M | -89.68M | -107.48M | -41.33M | -7.15M | -17.61K | 1.07M |
| FCF Margin % | -76.45% | -74.04% | -93.92% | -132.76% | -104.93% | -75.54% | -0.39% | 31.86% |
| FCF Growth % | -10.8% | 16.93% | 16.56% | -160.09% | -477.92% | -40494.18% | -101.65% | - |
| FCF per Share | -0.30 | -0.29 | -0.44 | -0.53 | -0.17 | -0.04 | -0.00 | 0.00 |
| FCF Conversion (FCF/Net Income) | 0.72x | 0.86x | 0.26x | 0.80x | 2.83x | 0.40x | -0.04x | -3.11x |
| Interest Paid | 0 | 0 | 288 | 0 | 54 | 6.33K | 6.18K | 0 |
| Taxes Paid | 0 | 33.76K | 0 | 0 | 5.18K | 0 | 0 | 0 |
Persistent negative operating cash
According to the provided cash flow statements, Rumble consistently reports negative operating cash flow that tracks closely with net losses, as evidenced by the 0.55 OCF/NI ratio in 2026Q1, suggesting that the company lacks the non-cash accrual cushion typical of more mature, profitable software-as-a-service platforms.
The tight correlation between net income and operating cash flow indicates that the company's losses are primarily cash-based rather than driven by heavy non-cash depreciation or amortization. This suggests that the business model is currently consuming liquidity at a rate that mirrors its accounting losses, leaving little room for operational error.
As reported in financial statements, Rumble's free cash flow trajectory remains deeply negative, with a 2026Q1 FCF margin of -69.6%, highlighting a persistent inability to generate self-sustaining cash flow despite the company's ongoing efforts to scale its independent infrastructure and creator-focused content ecosystem.
The consistent negative FCF trajectory suggests that the company is in a perpetual state of capital intensity, where every dollar of revenue is insufficient to cover both operating expenses and necessary infrastructure investments. Investors should monitor whether this burn rate stabilizes as the platform matures or if it remains tethered to the high cost of creator acquisition.
Based on reported figures, Rumble's capital expenditure intensity is highly volatile, peaking at 82.2% of revenue in 2025Q4, which underscores the significant financial burden of building and maintaining a proprietary data center stack rather than relying on third-party cloud service providers for platform hosting.
The lumpy nature of these capital outlays suggests that the company is aggressively funding its own infrastructure to achieve independence, though this strategy currently acts as a major drag on liquidity. The high ratio of CapEx to revenue implies that the company's growth is fundamentally tied to heavy, upfront hardware spending.
Analysis of quarterly filings reveals that working capital changes have been inconsistent, swinging from a $10.0M outflow in 2025Q4 to a $5.9M inflow in 2026Q1, which suggests that the company's cash position is highly sensitive to the timing of creator payments and vendor settlement cycles.
This volatility in working capital indicates that the company may be managing its cash outflows by stretching payables or timing content payments to align with available liquidity. Such practices warrant further investigation, as they may provide only temporary relief from the underlying structural cash burn.
Quick answers to the most common questions about buying RUM stock.
Rumble Inc. (RUM) generated $-70.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Rumble Inc. (RUM) reported negative free cash flow of $74.5M in 2025, indicating capital requirements exceeded cash from operations.
Rumble Inc. (RUM) spent $26.1M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Rumble Inc. (RUM) spent $525.0M on share repurchases. This shows the company's commitment to returning capital to its equity investors.