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Side-by-side financial comparison of Rumble Inc. (RUM) and System1, Inc. (SST). Click either name above to swap in a different company.
System1, Inc. is the larger business by last-quarter revenue ($51.9M vs $27.1M, roughly 1.9× Rumble Inc.). System1, Inc. runs the higher net margin — -26.0% vs -120.8%, a 94.8% gap on every dollar of revenue. On growth, Rumble Inc. posted the faster year-over-year revenue change (-10.5% vs -31.3%). Over the past eight quarters, Rumble Inc.'s revenue compounded faster (15.2% CAGR vs -21.8%).
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".
System1 is an American Internet advertising company. Formerly known as OpenMail, it was founded in 2013. It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focused properties, including search engine Startpage.com. It is headquartered in Marina del Rey, California.
RUM vs SST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $27.1M | $51.9M |
| Net Profit | $-32.7M | $-13.5M |
| Gross Margin | 5.5% | 41.0% |
| Operating Margin | -131.1% | -33.6% |
| Net Margin | -120.8% | -26.0% |
| Revenue YoY | -10.5% | -31.3% |
| Net Profit YoY | 86.2% | 4.8% |
| EPS (diluted) | $-0.13 | $-3.58 |
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 | $51.9M | ||
| Q3 25 | $24.8M | $61.6M | ||
| Q2 25 | — | $78.1M | ||
| Q1 25 | $23.7M | $74.5M | ||
| Q4 24 | $30.2M | $75.6M | ||
| Q3 24 | $25.1M | $88.8M | ||
| Q2 24 | $22.5M | $94.6M | ||
| Q1 24 | $17.7M | $84.9M |
| Q4 25 | $-32.7M | $-13.5M | ||
| Q3 25 | $-16.3M | $-18.5M | ||
| Q2 25 | — | $-17.5M | ||
| Q1 25 | $-2.7M | $-15.9M | ||
| Q4 24 | $-236.8M | $-14.2M | ||
| Q3 24 | $-31.5M | $-23.6M | ||
| Q2 24 | $-26.8M | $-26.4M | ||
| Q1 24 | $-43.3M | $-10.5M |
| Q4 25 | 5.5% | 41.0% | ||
| Q3 25 | -1.8% | 36.9% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | -26.7% | 38.2% | ||
| Q4 24 | -14.2% | 42.1% | ||
| Q3 24 | -45.4% | 28.0% | ||
| Q2 24 | -58.8% | 27.6% | ||
| Q1 24 | -79.5% | 21.9% |
| Q4 25 | -131.1% | -33.6% | ||
| Q3 25 | -113.6% | -25.3% | ||
| Q2 25 | — | -20.4% | ||
| Q1 25 | -153.5% | -17.6% | ||
| Q4 24 | -80.1% | -15.7% | ||
| Q3 24 | -131.0% | -24.6% | ||
| Q2 24 | -172.7% | -30.8% | ||
| Q1 24 | -197.4% | -30.4% |
| Q4 25 | -120.8% | -26.0% | ||
| Q3 25 | -65.7% | -30.1% | ||
| Q2 25 | — | -22.4% | ||
| Q1 25 | -11.2% | -21.3% | ||
| Q4 24 | -783.2% | -18.7% | ||
| Q3 24 | -125.9% | -26.6% | ||
| Q2 24 | -119.2% | -27.9% | ||
| Q1 24 | -244.1% | -12.4% |
| Q4 25 | $-0.13 | $-3.58 | ||
| Q3 25 | $-0.06 | $-2.30 | ||
| Q2 25 | — | $-2.23 | ||
| Q1 25 | $-0.01 | $-0.21 | ||
| Q4 24 | $-1.17 | $-3.41 | ||
| Q3 24 | $-0.15 | $-3.37 | ||
| Q2 24 | $-0.13 | $-3.80 | ||
| Q1 24 | $-0.21 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $237.9M | $86.9M |
| Total DebtLower is stronger | — | $305.1M |
| Stockholders' EquityBook value | $274.8M | $30.5M |
| Total Assets | $336.8M | $405.0M |
| Debt / EquityLower = less leverage | — | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $237.9M | $86.9M | ||
| Q3 25 | $269.8M | $54.6M | ||
| Q2 25 | — | $63.6M | ||
| Q1 25 | $301.3M | $43.9M | ||
| Q4 24 | $114.0M | $63.6M | ||
| Q3 24 | $132.0M | $69.1M | ||
| Q2 24 | $154.2M | $75.7M | ||
| Q1 24 | $183.8M | $69.9M |
| Q4 25 | — | $305.1M | ||
| Q3 25 | — | $259.2M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $267.4M | ||
| Q4 24 | — | $255.1M | ||
| Q3 24 | — | $259.2M | ||
| Q2 24 | — | $263.3M | ||
| Q1 24 | — | $268.6M |
| Q4 25 | $274.8M | $30.5M | ||
| Q3 25 | $302.2M | $42.7M | ||
| Q2 25 | — | $58.2M | ||
| Q1 25 | $339.6M | $67.2M | ||
| Q4 24 | $-63.1M | $80.3M | ||
| Q3 24 | $166.1M | $90.3M | ||
| Q2 24 | $192.7M | $109.4M | ||
| Q1 24 | $210.7M | $131.7M |
| Q4 25 | $336.8M | $405.0M | ||
| Q3 25 | $367.2M | $385.2M | ||
| Q2 25 | — | $429.2M | ||
| Q1 25 | $391.1M | $419.2M | ||
| Q4 24 | $195.3M | $459.1M | ||
| Q3 24 | $217.2M | $479.3M | ||
| Q2 24 | $243.2M | $511.3M | ||
| Q1 24 | $263.0M | $521.1M |
| Q4 25 | — | 10.01× | ||
| Q3 25 | — | 6.07× | ||
| Q2 25 | — | 4.53× | ||
| Q1 25 | — | 3.98× | ||
| Q4 24 | — | 3.18× | ||
| Q3 24 | — | 2.87× | ||
| Q2 24 | — | 2.41× | ||
| Q1 24 | — | 2.04× |
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 | $-29.4M | $-10.6M |
| Free Cash FlowOCF − Capex | $-31.7M | — |
| FCF MarginFCF / Revenue | -117.2% | — |
| Capex IntensityCapex / Revenue | 8.5% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-70.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-29.4M | $-10.6M | ||
| Q3 25 | $-10.6M | $-2.1M | ||
| Q2 25 | — | $24.5M | ||
| Q1 25 | $-14.5M | $-15.9M | ||
| Q4 24 | $-12.4M | $772.0K | ||
| Q3 24 | $-19.1M | $-5.0K | ||
| Q2 24 | $-21.7M | $10.0M | ||
| Q1 24 | $-33.9M | $-16.0M |
| Q4 25 | $-31.7M | — | ||
| Q3 25 | $-12.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-14.6M | $-16.0M | ||
| Q4 24 | $-12.4M | — | ||
| Q3 24 | $-19.9M | $-36.0K | ||
| Q2 24 | $-23.1M | — | ||
| Q1 24 | $-34.3M | — |
| Q4 25 | -117.2% | — | ||
| Q3 25 | -48.6% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -61.7% | -21.5% | ||
| Q4 24 | -40.9% | — | ||
| Q3 24 | -79.5% | -0.0% | ||
| Q2 24 | -102.8% | — | ||
| Q1 24 | -193.3% | — |
| Q4 25 | 8.5% | 0.0% | ||
| Q3 25 | 5.7% | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | 0.6% | 0.1% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 3.4% | 0.0% | ||
| Q2 24 | 6.1% | 0.0% | ||
| Q1 24 | 2.4% | 0.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RUM
| Audience Monetization | $23.8M | 88% |
| Other Initiatives | $3.3M | 12% |
SST
Segment breakdown not available.
