CuriosityStream Inc.

Listed Company

CURICIK 0001776909NasdaqNon-AcceleratedSmaller ReportingServices-Motion Picture & Video Tape ProductionDelawareFY ends Dec 31

Period

FY 2025

Revenue

$71.66M

Net Income

$-6.43M

Total Assets

$75.73M

Equity

$41.49M

Shares Out

58.97M

Op. Cash Flow

$13.06M

Business

CuriosityStream Inc. is a media and entertainment company that produces and distributes premium factual video and audio programming across science, history, society, nature, lifestyle and technology. It offers subscription video-on-demand services, content licensing, bundled licensing for SVOD and linear channels, advertising and sponsorship integrations, transactional VOD, and educational audio and video courses through Curiosity University. The company operates a single reporting segment with Direct Business, Content Licensing, Bundled Distribution and Other revenue streams. Its services are distributed globally via its owned platforms, apps, MVPDs, vMVPDs, FAST/AVOD channels, partners and enterprise bulk sales.

Summary from filing dated 2025-03-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	72	51	57	78	—
Cost of revenues	31	25	36	52	37
Advertising and marketing	14	14	17	41	52
General and administrative	34	25	29	37	35
Total operating expenses	79	64	101	133	124
Operating loss	−7	−13	−44	−55	−52
Change in fair value of warrant liability	88,000	−44,000	213,000	5	15
Interest and other income, net	983,000	3	—	—	—
Equity method investment loss	−180,000	−3	−5	−846,000	−464,000
Loss before income taxes	−6	−13	−48	−51	−37
Provision for income taxes	14,000	132,000	500,000	400,000	400,000
Net loss	−6	−13	−49	−51	−38
Basic (in dollars per share)	−0.11	−0.24	−0.92	−0.96	−0.73
Diluted (in dollars per share)	−0.11	−0.24	−0.92	−0.96	−1.02
Basic (in shares)	58	54	53	53	51
Diluted (in shares)	58	54	53	53	52

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	18	8	38	40	15
Restricted cash	100,000	100,000	500,000	500,000	2
Short-term investments in debt and other securities	9	24	0	15	66
Accounts receivable, net	9	6	5	11	23
Other current assets	1	1	2	3	6
Total current assets	37	40	45	70	113
Investments in debt securities	0	7	0	—	—
Investments in equity method investees	4	4	6	11	10
Property and equipment, net	404,000	520,000	727,000	1	1
Content assets, net	31	32	45	69	73
Operating lease right-of-use assets	3	3	3	4	4
Other assets	461,000	257,000	358,000	539,000	689,000
Total assets	76	86	101	154	218
Content liabilities	362,000	282,000	407,000	3	—
Accounts payable	9	6	5	6	3
Accrued expenses and other liabilities	12	7	4	8	12
Deferred revenue	8	11	15	14	22
Total current liabilities	30	24	23	31	48
Warrant liability	0	88,000	44,000	257,000	6
Non-current operating lease liabilities	4	4	4	5	—
Other liabilities	470,000	496,000	651,000	622,000	2
Total liabilities	34	28	28	36	56
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock, shares outstanding (in shares)	59	57	53	53	53
Common stock, $0.0001 par value 125,000 shares authorized as of December 31, 2025, and December 31, 2024; 58,950 shares and 56,814 shares issued as of December 31, 2025 and December 31, 2024, respectively, including 216 treasury shares; 58,734 shares and 56,598 shares outstanding as of December 31, 2025 and December 31, 2024, respectively.	5,000	5,000	5,000	5,000	5,000
Treasury stock	−251,000	−300,000	0	—	—
Additional paid-in capital	378	367	363	359	352
Accumulated deficit	−336	−308	−290	−241	−190
Total stockholders equity	41	58	73	118	162
Total liabilities and stockholders equity	76	86	101	154	218

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Change in fair value of warrant liability	−88,000	44,000	−213,000	−5	−15
Additions to content assets	−14	−6	−18	−35	−66
Change in content liabilities	80,000	−125,000	−2	−7	8
Amortization of content assets	15	19	23	39	28
Depreciation and amortization expenses	164,000	339,000	496,000	699,000	612,000
Amortization of premiums and accretion of discounts associated with investments in debt securities, net	−517,000	−294,000	26,000	1	3
Stock-based compensation	14	7	4	7	7
Equity method investment loss	180,000	3	5	846,000	464,000
Other non-cash items	468,000	430,000	481,000	1	240,000
Accounts receivable	−3	−1	6	12	−16
Other assets	−194,000	1	855,000	3	−3
Accounts payable	4	843,000	−1	3	−127,000
Accrued expenses and other liabilities	6	1	−5	−5	7
Deferred revenue	−3	−4	270,000	−8	10
Net cash provided by operating activities	13	8	−16	−40	−73
Purchases of property and equipment	−102,000	0	−5,000	−130,000	−351,000
Sales of investments in debt securities	5	0	0	23	50
Maturities of investments in debt securities	31	7	15	44	42
Purchases of investments in debt securities	−12	−39	0	−1	−152
Net cash provided by (used in) investing activities	23	−31	14	63	−75
Repurchases of common stock	0	−251,000	0	—	—
Dividends paid	−22	−4	0	—	—
Payments related to tax withholding	−4	−3	−123,000	−218,000	−454,000
Net cash used in financing activities	−26	−7	−123,000	−218,000	148
Net increase (decrease) in cash, cash equivalents and restricted cash	10	−30	−2	23	163,000
Acquisition of equity investment included in accrued liabilities	178,000	0	—	—	—
Cash paid for operating leases	570,000	510,000	466,000	486,000	348,000

Filings

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