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Side-by-side financial comparison of Forge Global Holdings, Inc. (FRGE) and Rumble Inc. (RUM). Click either name above to swap in a different company.
Rumble Inc. is the larger business by last-quarter revenue ($27.1M vs $21.3M, roughly 1.3× Forge Global Holdings, Inc.). Forge Global Holdings, Inc. runs the higher net margin — -85.7% vs -120.8%, a 35.1% gap on every dollar of revenue. On growth, Forge Global Holdings, Inc. posted the faster year-over-year revenue change (10.6% vs -10.5%). Forge Global Holdings, Inc. produced more free cash flow last quarter ($-11.4M vs $-31.7M). Over the past eight quarters, Rumble Inc.'s revenue compounded faster (15.2% CAGR vs 5.6%).
Bharat Forge Limited is an Indian multinational company involved in forging, automotives, energy, construction and mining, railways, marine, aerospace and defence industries.
Rumble is a Canadian-American online video platform, web hosting, and cloud services business headquartered in Toronto, Canada, with its U.S. headquarters in Longboat Key, Florida. It was founded in 2013 by Chris Pavlovski, a Canadian technology entrepreneur. Rumble's cloud services business hosts Truth Social, and the video platform is popular among American conservative and far-right users. Rumble has been described as "alt-tech".
FRGE vs RUM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $27.1M |
| Net Profit | $-18.2M | $-32.7M |
| Gross Margin | 98.6% | 5.5% |
| Operating Margin | -96.7% | -131.1% |
| Net Margin | -85.7% | -120.8% |
| Revenue YoY | 10.6% | -10.5% |
| Net Profit YoY | 0.6% | 86.2% |
| EPS (diluted) | $-1.37 | $-0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $27.1M | ||
| Q3 25 | $21.3M | $24.8M | ||
| Q2 25 | $27.7M | — | ||
| Q1 25 | $25.3M | $23.7M | ||
| Q4 24 | $18.6M | $30.2M | ||
| Q3 24 | $19.2M | $25.1M | ||
| Q2 24 | $22.3M | $22.5M | ||
| Q1 24 | $19.2M | $17.7M |
| Q4 25 | — | $-32.7M | ||
| Q3 25 | $-18.2M | $-16.3M | ||
| Q2 25 | $-12.6M | — | ||
| Q1 25 | $-16.2M | $-2.7M | ||
| Q4 24 | $-15.6M | $-236.8M | ||
| Q3 24 | $-18.3M | $-31.5M | ||
| Q2 24 | $-13.7M | $-26.8M | ||
| Q1 24 | $-18.6M | $-43.3M |
| Q4 25 | — | 5.5% | ||
| Q3 25 | 98.6% | -1.8% | ||
| Q2 25 | 99.4% | — | ||
| Q1 25 | 99.2% | -26.7% | ||
| Q4 24 | 98.3% | -14.2% | ||
| Q3 24 | 99.6% | -45.4% | ||
| Q2 24 | 98.9% | -58.8% | ||
| Q1 24 | 99.8% | -79.5% |
| Q4 25 | — | -131.1% | ||
| Q3 25 | -96.7% | -113.6% | ||
| Q2 25 | -46.3% | — | ||
| Q1 25 | -65.1% | -153.5% | ||
| Q4 24 | -100.6% | -80.1% | ||
| Q3 24 | -108.8% | -131.0% | ||
| Q2 24 | -79.2% | -172.7% | ||
| Q1 24 | -130.0% | -197.4% |
| Q4 25 | — | -120.8% | ||
| Q3 25 | -85.7% | -65.7% | ||
| Q2 25 | -45.4% | — | ||
| Q1 25 | -63.9% | -11.2% | ||
| Q4 24 | -84.2% | -783.2% | ||
| Q3 24 | -95.5% | -125.9% | ||
| Q2 24 | -61.6% | -119.2% | ||
| Q1 24 | -96.8% | -244.1% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | $-1.37 | $-0.06 | ||
| Q2 25 | $-1.01 | — | ||
| Q1 25 | $-1.29 | $-0.01 | ||
| Q4 24 | $3.81 | $-1.17 | ||
| Q3 24 | $-1.49 | $-0.15 | ||
| Q2 24 | $-1.13 | $-0.13 | ||
| Q1 24 | $-1.55 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $60.7M | $237.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $202.6M | $274.8M |
| Total Assets | $252.0M | $336.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $237.9M | ||
| Q3 25 | $60.7M | $269.8M | ||
| Q2 25 | $80.7M | — | ||
| Q1 25 | $92.0M | $301.3M | ||
| Q4 24 | $105.1M | $114.0M | ||
| Q3 24 | $114.5M | $132.0M | ||
| Q2 24 | $120.5M | $154.2M | ||
| Q1 24 | $129.6M | $183.8M |
| Q4 25 | — | $274.8M | ||
| Q3 25 | $202.6M | $302.2M | ||
| Q2 25 | $200.5M | — | ||
| Q1 25 | $213.5M | $339.6M | ||
| Q4 24 | $223.6M | $-63.1M | ||
| Q3 24 | $234.5M | $166.1M | ||
| Q2 24 | $245.4M | $192.7M | ||
| Q1 24 | $252.2M | $210.7M |
| Q4 25 | — | $336.8M | ||
| Q3 25 | $252.0M | $367.2M | ||
| Q2 25 | $242.8M | — | ||
| Q1 25 | $249.5M | $391.1M | ||
| Q4 24 | $263.5M | $195.3M | ||
| Q3 24 | $276.6M | $217.2M | ||
| Q2 24 | $285.7M | $243.2M | ||
| Q1 24 | $298.7M | $263.0M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-11.4M | $-29.4M |
| Free Cash FlowOCF − Capex | $-11.4M | $-31.7M |
| FCF MarginFCF / Revenue | -53.6% | -117.2% |
| Capex IntensityCapex / Revenue | 0.2% | 8.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-73.5M | $-70.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-29.4M | ||
| Q3 25 | $-11.4M | $-10.6M | ||
| Q2 25 | $-7.8M | — | ||
| Q1 25 | $-12.8M | $-14.5M | ||
| Q4 24 | $-40.5M | $-12.4M | ||
| Q3 24 | $-5.8M | $-19.1M | ||
| Q2 24 | $-14.4M | $-21.7M | ||
| Q1 24 | $-12.4M | $-33.9M |
| Q4 25 | — | $-31.7M | ||
| Q3 25 | $-11.4M | $-12.0M | ||
| Q2 25 | $-7.9M | — | ||
| Q1 25 | $-12.9M | $-14.6M | ||
| Q4 24 | $-41.3M | $-12.4M | ||
| Q3 24 | $-6.0M | $-19.9M | ||
| Q2 24 | $-14.7M | $-23.1M | ||
| Q1 24 | $-12.8M | $-34.3M |
| Q4 25 | — | -117.2% | ||
| Q3 25 | -53.6% | -48.6% | ||
| Q2 25 | -28.4% | — | ||
| Q1 25 | -50.9% | -61.7% | ||
| Q4 24 | -222.3% | -40.9% | ||
| Q3 24 | -31.0% | -79.5% | ||
| Q2 24 | -66.0% | -102.8% | ||
| Q1 24 | -66.4% | -193.3% |
| Q4 25 | — | 8.5% | ||
| Q3 25 | 0.2% | 5.7% | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.2% | 0.6% | ||
| Q4 24 | 4.3% | 0.1% | ||
| Q3 24 | 0.7% | 3.4% | ||
| Q2 24 | 1.2% | 6.1% | ||
| Q1 24 | 2.1% | 2.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRGE
| Marketplace | $12.2M | 57% |
| Custodial Administration Fees | $9.1M | 43% |
RUM
| Audience Monetization | $23.8M | 88% |
| Other Initiatives | $3.3M | 12% |
