CuriosityStream Inc
NASDAQ:CURI
CuriosityStream Inc
CuriosityStream, Inc. is a media and entertainment company. The company is headquartered in Silver Spring, Maryland and currently employs 92 full-time employees. The company went IPO on 2019-11-22. The firm provides premium factual entertainment that informs, enchants and inspires. The firm is also focused on offering high-quality factual entertainment through subscription video on demand (SVoD) platforms, as well as through bundled content licenses for SVoD and linear offerings, partner bulk sales, brand partnerships and content sales. Its sponsorship and advertising business consists of developing integrated digital brand partnerships with CuriosityStream content in a variety of forms, including short and long form program integration, branded social media promotional videos, broadcast advertising spots, and digital display ads. The CuriosityStream is available to watch on Roku, Apple television (TV), Amazon Fire TV and gaming consoles like Xbox.
CuriosityStream, Inc. is a media and entertainment company. The company is headquartered in Silver Spring, Maryland and currently employs 92 full-time employees. The company went IPO on 2019-11-22. The firm provides premium factual entertainment that informs, enchants and inspires. The firm is also focused on offering high-quality factual entertainment through subscription video on demand (SVoD) platforms, as well as through bundled content licenses for SVoD and linear offerings, partner bulk sales, brand partnerships and content sales. Its sponsorship and advertising business consists of developing integrated digital brand partnerships with CuriosityStream content in a variety of forms, including short and long form program integration, branded social media promotional videos, broadcast advertising spots, and digital display ads. The CuriosityStream is available to watch on Roku, Apple television (TV), Amazon Fire TV and gaming consoles like Xbox.
Revenue: Full-year 2025 revenue grew 40% to $71.7 million; Q4 revenue was $19.2 million, up 36% year-over-year and at the high end of guidance.
Cash Flow: Adjusted free cash flow was $13.9 million for 2025 (up 46% YoY) and $4.3 million in Q4 (up 33% YoY); the company generated positive operating cash for eight consecutive quarters.
Licensing Surge: Licensing accelerated in 2025 (Q4 licensing $9.8M) and management expects licensing revenue to exceed subscription revenue in 2026.
Margins & Cost Control: Gross margins expanded to 60% in Q4 (57% full year) aided by cost discipline; nondiscretionary G&A down 33% YoY excluding certain noncash and one-time items.
Guidance: H1 2026 revenue guide $38M–$42M and adjusted free cash flow $6M–$9M; full-year goal is double-digit growth in revenue and cash flow and a full year of positive GAAP earnings is achievable.
Capital Returns & Balance Sheet: $27.3M cash and securities, no debt, paid $22M of dividends in 2025, increased buyback authorization to $6M, and warrants totaling $6.7M expired unexercised.
AI Opportunity: Management emphasizes durable, high-value licensing demand from AI model training because of rights-cleared, metadata-rich, high-quality video assets; repeat customers and expanding partner roster expected.
