Monitor Q3 2026 revenue guidance midpoint of $90M for execution against the massive $3B+ ARR pipeline. The EPS miss is secondary to the transformational Northern Data deal — the key catalyst is whether Quake AI can monetize the 250MW capacity. Initial guidance implies a ~125% sequential revenue increase, which will test integration ability.
Price Chart
Executive Summary
RUM Group reported record Q2 2026 revenue of $40.4M, up 61% YoY, driven by the closed acquisition of Northern Data (contributing $10.1M). The company initiated formal Q3 2026 revenue guidance of $87M-$93M and highlighted a $3B+ ARR opportunity from 250MW of unmonetized 2027 capacity. However, the GAAP net loss widened to -$80.9M (-$0.28 per share) from -$30.2M a year ago, and EPS of -$0.15 missed consensus of -$0.10 by 50%.
Key Financial Metrics
Key Facts
- Record Q2 2026 revenue of $40.4M, up 61% YoY from $25.1M
- Rumble Video revenue $30.3M, up 21% YoY; Northern Data contributed $10.1M post-acquisition
- Q3 2026 revenue guidance initiated at $87M-$93M
- GAAP net loss of -$80.9M vs -$30.2M in Q2 2025, EPS -$0.28 vs -$0.12
- EPS -$0.15 missed consensus of -$0.10 (-50.0% miss)
- Closed acquisition of Northern Data on June 17, 2026; 85.2% ownership
- Quake AI has ~250MW unmonetized capacity targeted for 2027, representing a $3B+ ARR opportunity
- Signed multi-year agreement with Together AI for NVIDIA B300 GPU deployment
- GPU utilization ~85% for the quarter
- Cash and liquidity of $220.5M as of June 30, 2026
Financial Impact
Revenue up 61% YoY to $40.4M; GAAP net loss worsened by $50.7M YoY; acquisition-related costs of $28.3M in Q2
Risk Factors
- Integration risk: $28.3M in one-time transaction costs this quarter; may persist
- Execution risk: Converting 250MW capacity to revenue-generating contracts by 2027
- Dilution: Class A shares outstanding rose from 215.7M to 276.3M post-acquisition
- Negative GAAP operating cash flow of -$66.1M in H1 2026 (increased burn vs -$30.4M in H1 2025)
- Convertible notes payable of $358.8M added to balance sheet
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-087234 |
| Document: ea0301150-8k_rum.htm | 0001213900-26-087234 |
| Document: 0001213900-26-087234-index-headers.html | 0001213900-26-087234 |
| Document: 0001213900-26-087234-index.html | 0001213900-26-087234 |
| Document: 0001213900-26-087234.txt | 0001213900-26-087234 |
| 8-K Data (Synthetic) | 0001213900-26-087234 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 6w ago | 8-K | $7.17 | awaiting T+60 | — | $5.37 (−25.10%) |
Sep 10, 2026 6w ago | Press Release | $7.17 | awaiting T+60 | — | $5.37 (−25.10%) |
Aug 24, 2026 9w ago | 8-K | $9.36 | awaiting T+60 | — | $5.37 (+42.63%) |
Aug 10, 2026 11w ago | 8-K | $6.92 | awaiting T+60 | — | $5.37 (−22.40%) |
Aug 10, 2026 11w ago | Press Release | $6.92 | awaiting T+60 | — | $5.37 (−22.40%) |
Jun 18, 2026 18w ago | 8-K | $6.80 $8.20 | ▲ +20.59% | ▲ +18.84% | $5.37 (−21.03%) |
Jun 17, 2026 18w ago | 8-K | $7.36 $8.00 | ▲ +8.70% | ▲ +6.80% | $5.37 (−27.04%) |
Jun 17, 2026 18w ago | Press Release | $7.36 $8.00 | ▲ +8.70% | ▲ +6.80% | $5.37 (−27.04%) |
Jun 4, 2026 20w ago | Press Release | $8.18 $8.98 | ▲ +9.78% | ▲ +7.90% | $5.37 (−34.35%) |
May 27, 2026 21w ago | Press Release | $9.75 $8.43 | ▼ −13.54% | ▼ −15.42% | $5.37 (−44.92%) |
US Market Status
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