CuriosityStream Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 revenue rose slightly to $15.2M, with licensing up 11% year-over-year and subscription stable. Gross margin improved to 56%, but a non-cash charge led to a net loss. 2026 guidance calls for $75–$80M revenue and licensing to outpace subscriptions.
Fiscal Year 2025
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Revenue grew 40% to $71.7M in 2025, with licensing for AI training driving growth and expected to surpass subscriptions in 2026. Gross margins improved, cash flow and EBITDA turned positive, and the company paid $22M in dividends while maintaining a strong balance sheet.
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Q3 2025 revenue rose 46% year-over-year to $18.4M, led by a 425% surge in licensing revenue and strong adjusted free cash flow. Guidance calls for 38–42% full-year revenue growth, with licensing expected to surpass subscriptions by 2027.
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Q2 2025 revenue surged 53% year-over-year to $19 million, led by AI content licensing and sequential subscription growth. Net income and adjusted EBITDA both turned positive, with a strong balance sheet and ongoing cost discipline supporting future growth.
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The company is experiencing strong financial momentum with five quarters of positive free cash flow, expanding global partnerships, and a diversified revenue model. Growth is expected to accelerate through AI-driven content licensing, cost management, and new distribution channels.
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Q1 2025 saw 26% revenue growth year-over-year, first-ever positive net income and adjusted EBITDA, and a doubling of the quarterly dividend. Licensing revenue drove growth, while cost controls improved margins and cash flow.
Fiscal Year 2024
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Achieved record cash flow and improved margins in 2024, with strong cost controls and a shift toward higher-margin, recurring subscription revenue. Double-digit growth in revenue and free cash flow is expected for 2025, supported by expanding licensing deals and a significant dividend increase.
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Highest ever quarterly adjusted free cash flow of $2.6M, with 13% year-over-year growth in direct subscription revenue and improved gross margins. Guidance for Q4 anticipates $12–$14M revenue and $2–$3M adjusted free cash flow, with material advertising and licensing upside expected next year.
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Achieved record adjusted free cash flow and strong margin improvements in Q2 2024, with direct revenue growth offsetting declines in licensing. Ended the quarter with nearly $40 million in cash, no debt, and continued cost rationalization, while guiding for stable Q3 revenue and cash flow.