So, here's the thing about Rumble Inc. (RUM): they just reported their fourth-quarter numbers, and the market wasn't thrilled. The video platform posted revenue of $27.07 million, which came in a bit light compared to what analysts were expecting. The earnings per share figure was a loss of 13 cents, which also missed the mark.

But before you write off the whole story, there are some other numbers in the mix. Rumble said it had 52 million monthly active users last quarter. That's up 11% from the quarter before, which the company says is thanks to starting to expand internationally. The average revenue each user brings in ticked up slightly to 46 cents. It's not a huge jump, but it's moving in the right direction.

Financially, Rumble is sitting on a pretty solid pile of cash. They ended the quarter with total liquidity of $256.4 million. That breaks down to $237.9 million in good old-fashioned cash and a stash of over 210 Bitcoin. That's a war chest that gives them room to keep investing.

And that's exactly what CEO Chris Pavlovski is focused on. "Rumble has reached an inflection point," he said in the earnings release. "The investments we made throughout 2025, in platform stability, creator monetization, short-form video, and our sales infrastructure, are beginning to bear fruit." In other words, the company has been spending money to build things, and now they're starting to see those things work.

One of those things on the horizon is the planned acquisition of AI infrastructure company Northern Data. Rumble says that deal is still on track to close in the second quarter.

Investors, however, were in a selling mood after the numbers hit. Rumble shares were down over 4% in after-hours trading Thursday, slipping to around $5.36. The company's earnings call was just getting started as the report went out, so the full story from management is still unfolding.