RUM Group Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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FY2024 · Filed Mar 25, 2025
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20. Segment Information
| 20. | Segment and Geographic Information |
The Company operates asone operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis to make decisions regarding how to allocate resources and assess performance. The CODM assesses performance and decides how to allocate resources based on net loss and is reported on the consolidated statements of operations as consolidated net loss. The CODM does not evaluate operating segments using asset information.
The following presents selected financial information with respect to the Company’s single operating segment:
| For the year ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenues | $95,488,190 | $80,963,451 |
| Expenses | ||
| Programming and content | $120,071,966 | $129,520,159 |
| Other cost of services | 18,400,300 | 16,636,575 |
| General and administrative | 36,646,307 | 37,125,296 |
| Research and development | 18,923,319 | 15,721,663 |
| Sales and marketing | 17,330,925 | 13,427,021 |
| Acquisition-related transaction costs | - | 1,151,318 |
| Amortization and depreciation | 13,614,587 | 4,850,812 |
| Changes in fair value of contingent consideration | 1,354,357 | (1,922,381) |
| Total expenses | 226,341,761 | 216,510,463 |
| Loss from operations | (130,853,571) | (135,547,012) |
| Interest income | 8,083,903 | 13,594,463 |
| Other expense | (207,431) | (125,511) |
| Changes in fair value of warrant liability | (32,694,697) | 2,365,895 |
| Changes in fair value of derivative | (184,699,998) | - |
| Loss before income taxes | (340,371,794) | (119,712,165) |
| Income tax benefit | 2,009,015 | 3,291,703 |
| Net loss | $(338,362,779) | $(116,420,462) |
| 20. | Segment and Geographic Information (Continued) |
The following presents revenue by geographic region:
| For the year ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| United States | $89,094,815 | $74,439,470 |
| Canada | 1,928,280 | 1,042,983 |
| Other | 4,465,095 | 5,480,998 |
| $95,488,190 | $80,963,451 | |
The Company tracks assets by physical location. Long-lived assets consists of property and equipment, net, and are shown below:
| As of December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| United States | $16,837,694 | $19,334,231 |
| Canada | 230,382 | 355,756 |
| $17,068,076 | $19,689,987 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.