Rumble Inc
For the period ended Dec 31, 2023. Filed Mar 27, 2024.
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FY2023 · Filed Mar 27, 2024
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4. Revenue from Contracts with Customers
| 4. | Revenue from Contracts with Customers |
The following table presents revenues disaggregated by type:
| For the year ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Advertising | $60,026,091 | $31,139,398 |
| Other services and cloud | 20,937,360 | 8,244,886 |
| Total revenues | $80,963,451 | $39,384,284 |
The Company recognizes revenue either at a point in time, or over time, depending upon the characteristics of the contract. During the year ended December 31, 2023, revenue recognized at a point in time compared to over time was $21,741,274 and $59,222,177, respectively. During the year ended December 31, 2022, revenue recognized at a point in time compared to over time was $15,391,170 and $23,993,114, respectively.
Deferred Revenue
Deferred revenue recorded at December 31, 2023 is expected to be fully recognized by December 31, 2024. The deferred revenue balance as of December 31, 2023 was $7,003,891. The deferred revenue balance as of December 31, 2022 was $1,040,619, of which $881,596 was recognized as revenues for the year ended December 31, 2023. The deferred revenue balance as of December 31, 2021 was $30,014, of which $30,014 was recognized as revenues for the year ended December 31, 2022.
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