Related Party Transactions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 | |||
| Related Party Transactions [Abstract] | |||
| Related Party Transactions |
The Company’s related parties include directors, shareholders and key management.
The Company is party to a secondment arrangement under which certain members of key management personnel are assigned to perform services for a subsidiary. In connection with this arrangement, the Company paid payroll taxes of $902,988 and $727,903 on behalf of these key management personnel during the years ended December 31, 2025 and 2024, respectively. These amounts are recoverable from the individuals upon their receipt of a corresponding refund from the applicable tax authority. As of December 31, 2025 and 2024, accounts receivable from key management personnel were $1,630,891 and $727,903, respectively.
The Company has a customer relationship with Tether Operations S.A. de C.V., an affiliate of a significant shareholder of the Company. The Company recognized revenue of $987,500 and $ for the years ended December 31, 2025 and 2024, respectively.
As discussed in Note 16, the Company signed a business combination agreement with Northern Data that, upon close, will result in Northern Data becoming a majority-owned subsidiary of the Company. Tether Investments, S.A. DE C.V (“Tether”) , an affiliate of a significant shareholder of the Company, owns more than 50% of the voting shares of Northern Data.
The Company entered into a transaction support agreement with Tether to ensure that all of the shares of Northern Data owned by Tether as of immediately prior to the closing of the voluntary public exchange offer (41,887,766 shares as of the date of the business combination agreement between the Company and Northern Data) will be exchanged pursuant to such voluntary public exchange offer to all shareholders of Northern Data.
At the same time, the Company entered into a GPU agreement with Tether whereby Tether will purchase up to $150 million of GPU services over a two-year period commencing once the business combination with Northern Data closes.
Separate from the agreements above related to the business combination with Northern Data, the Company entered into an advertising and marketing services agreement with Tether to provide advertising services of $50 million per year over a two-year period commencing February 16, 2026.
The Company is the licensee under a limited-use license agreement with a significant shareholder under which it is provided, for nil consideration, certain source code that is used in operations.
The Company has a vendor relationship with Cosmic Inc. and Kosmik Development Skopje doo (“Cosmic”) to provide content moderation and software development services. Cosmic is controlled by Mr. Pavlovski and Mr. Milnes, each of whom holds a significant number of Rumble shares. The Company incurred related party expenses for these services of $3,295,613 and $3,382,267 during the years ended December 31, 2025 and 2024, respectively. Accounts payable and accrued liabilities for personnel services were $300,694 and $249,545 as of December 31, 2025 and 2024, respectively.
As discussed in Note 12, on December 20, 2024, the Company entered into support agreements with related parties to ensure that 70,000,000 shares of Class A Common Stock would be tendered and available for purchase if there were insufficient shares tendered by the public to satisfy the tender requirements in the Tether Agreement. On February 7, 2025, the Company repurchased 69,938,983 shares of Class A Common Stock from related parties with whom it had executed tender and support agreements for $7.50 per share.
There were no other related party transactions during these periods. |