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CuriosityStream (CURI)
NASDAQ:CURI
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CuriosityStream
(NASDAQ:CURI)
64Neutral
Positive Factors
Financial Performance
Management expressed confidence in the company’s ability to sustain positive free cash flow generation.
Operational Efficiency
GenAI lowered Curiositystream's costs, indicating improved operational efficiency.
Revenue Growth
CURI guided to double-digit revenue growth in 2025, driven by a new LLM licensing revenue stream.
Negative Factors
Earnings Performance
CURI reported fourth-quarter revenues of $14.1 million, which were 3% below estimates.
Macroeconomic Factors
Macro uncertainty does limit the ability to institute additional price increases.
Revenue Challenges
Gaining awareness of the content on those platforms can be a hurdle to achieve significant revenue generation.
CuriosityStream (CURI) vs. S&P 500 (SPY)
Market Cap
$173.65M
Dividend Yield2.58%
Average Volume (3M)334.03K
Price to Earnings (P/E)―
Beta (1Y)1.59
Revenue Growth-10.12%
EPS Growth74.22%
CountryUS
Employees48
SectorCommunication Services
Sector Strength83
IndustryBroadcasting
Share Statistics
EPS (TTM)-0.24
Shares Outstanding55,479,190
10 Day Avg. Volume442,077
30 Day Avg. Volume334,032
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.21
Price to Cash Flow (P/CF)18.40
P/FCF Ratio18.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$3.00Price Target Upside-4.15% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
CuriosityStream Business Overview & Revenue Model
Company DescriptionCuriosityStream Inc. operates as a factual content streaming service and media company. The company provides premium video programming services in various categories of factual entertainment, including science, history, society, nature, lifestyle, and technology through direct subscription video on-demand (SVoD) platforms accessible by internet connected devices, or indirectly via distribution partners who deliver CuriosityStream content via the distributor's platform or system; and through bundled content licenses for SVoD and linear offerings, partner bulk sales, brand partnerships, and content sales. It offers streaming content through devices, including televisions, set-top boxes, computers, streaming media players, game consoles, and mobile devices. As of December 31, 2021, it had approximately 23 million total paying subscribers, including direct subscribers, partner direct subscribers, and bundled MVPD subscribers. The company was founded in 2015 and is based in Silver Spring, Maryland.
How the Company Makes MoneyCuriosityStream generates revenue primarily through its subscription-based model. Users pay a monthly or annual fee to access its extensive library of non-fiction content. The company offers different subscription tiers, providing various levels of access and features, enabling it to cater to a wide range of customer preferences and budgets. Additionally, CuriosityStream may engage in licensing agreements to distribute its content through third-party platforms or networks, expanding its reach and securing additional revenue streams. Strategic partnerships with educational institutions, organizations, and businesses also contribute to its earnings by facilitating content distribution in bulk or through tailored packages. Advertising and sponsorships may also play a role, though they are not the primary revenue drivers for the company's direct-to-consumer model.
CuriosityStream Financial Statement Overview
Summary
CuriosityStream is facing significant financial challenges with declining revenue and consistent losses impacting profitability. The company has a strong equity position and low debt, which is a positive aspect. Cash flow has improved but remains a concern. Overall, while there are signs of operational improvements, the company needs to address its profitability and revenue growth to enhance its financial health.Income Statement
CuriosityStream has shown a decrease in total revenue from the previous year, with a negative revenue growth rate. The gross profit margin for the TTM is 48.39%, which is a positive aspect. However, the company has negative net profit and EBIT margins, indicating operational challenges. EBITDA margin improved to 2.35% TTM, showing some improvement in operational efficiency.45
Neutral
Balance Sheet
The debt-to-equity ratio is low at 0.06, reflecting minimal leverage. The equity ratio at 71.05% indicates a strong equity base. However, the return on equity is negative due to ongoing losses, highlighting profitability issues.55
Neutral
Cash Flow
CuriosityStream has managed to turn around its free cash flow, reporting a positive free cash flow in the TTM. The operating cash flow to net income ratio is negative, indicating cash flow challenges relative to net earnings, although it has improved from prior periods.50
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 51.77M | 56.89M | 78.04M | 71.26M | 39.62M | 18.03M | Gross Profit |
| 25.06M | 21.34M | 26.51M | 34.59M | 24.20M | 11.22M | EBIT |
| -14.22M | -25.50M | -51.68M | -52.48M | -38.80M | -44.59M | EBITDA |
| 1.22M | -2.10M | -10.56M | -23.99M | -29.87M | -42.04M | Net Income Common Stockholders |
| -14.79M | -48.90M | -50.92M | -37.63M | -48.60M | -42.66M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 44.34M | 37.72M | 54.99M | 81.05M | 33.37M | 44.34M | Total Assets |
| 82.46M | 101.02M | 154.11M | 217.58M | 88.59M | 82.51M | Total Debt |
| 0.00 | 4.28M | 4.65M | 0.00 | 0.00 | 0.00 | Net Debt |
| -8.82M | -33.43M | -35.36M | -15.22M | -11.20M | -8.82M | Total Liabilities |
| 17.92M | 28.38M | 36.49M | 55.64M | 43.62M | 173.83M | Stockholders Equity |
| 63.72M | 72.65M | 117.63M | 161.94M | 44.97M | -91.32M |
| Cash Flow | Free Cash Flow | ||||
| 2.57M | -16.18M | -39.65M | -73.59M | -53.88M | -45.48M | Operating Cash Flow |
| 2.57M | -16.17M | -39.52M | -73.24M | -53.51M | -44.71M | Investing Cash Flow |
| -27.98M | 14.00M | 62.70M | -74.94M | 25.45M | -8.99M | Financing Cash Flow |
| -3.70M | -123.00K | -218.00K | 148.34M | 36.62M | 0.00 |
CuriosityStream Technical Analysis
Positive
3.13
Price Trends
2.47
Positive
2.10
Positive
1.78
Positive
Market Momentum
0.17
Negative
65.05
Neutral
77.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CURI, the sentiment is Positive. The current price of 3.13 is above the 20-day moving average (MA) of 2.61, above the 50-day MA of 2.47, and above the 200-day MA of 1.78, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 65.05 is Neutral, neither overbought nor oversold. The STOCH value of 77.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CURI.
CuriosityStream Risk Analysis
CuriosityStream disclosed 58 risk factors in its most recent earnings report. CuriosityStream reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CuriosityStream Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $138.39B | 8.83 | 19.24% | 3.39% | 1.78% | 11.62% | |
76 Outperform | $183.69B | 32.53 | 5.54% | 0.93% | 3.97% | 89.53% | |
73 Outperform | $2.18T | 37.25 | 24.29% | ― | 10.99% | 91.61% | |
72 Outperform | $415.78B | 50.30 | 38.43% | ― | 15.28% | 65.72% | |
67 Neutral | $11.93B | ― | -5.37% | ― | 18.03% | 82.15% | |
64 Neutral | $173.65M | ― | -19.83% | 2.58% | -10.12% | 74.22% | |
59 Neutral | $29.98B | 0.95 | -18.77% | 4.02% | 2.12% | -47.15% |
* Communication Services Sector Average
Performance Comparison
CURI
CuriosityStream
2.84
1.94
215.56%
AMZN
Amazon
201.13
21.30
11.84%
CMCSA
Comcast
37.37
-4.37
-10.47%
DIS
Walt Disney
100.78
-19.11
-15.94%
NFLX
Netflix
970.65
357.12
58.21%
ROKU
Roku
77.87
12.29
18.74%
CuriosityStream Earnings Call Summary
Earnings Call Date: Mar 11, 2025 | % Change Since: 50.48% | Next Earnings Date: May 13, 2025
Earnings Call Sentiment Positive
CuriosityStream demonstrated strong financial discipline and operational efficiency, leading to significant improvements in cash flow and margins. The company showed confidence in its growth trajectory with dividend increases and strategic licensing in AI training content. However, there were challenges in maintaining revenue growth compared to the previous year.Highlights
Significant Cash Flow Improvement
CuriosityStream reported a year-over-year cash flow increase of about $26 million in 2024, moving from a $16 million loss in 2023 to a $10 million gain in 2024.
Ninth Consecutive Quarter of Increased Cash Flow
CuriosityStream achieved its highest-ever adjusted free cash flow at $3.3 million in Q4, marking the ninth straight quarter of cash flow improvement.
Dividend Increase and Shareholder Return
CuriosityStream announced an increase in its dividend from $0.10 to $0.16 for 2025, representing a 7.5% yield based on the previous day's closing share price.
Gross Margin Improvement
Gross margin increased from 45% to 52% year-over-year in Q4, driven by cost control efforts and reductions in content amortization.
Operational Efficiency and Cost Reduction
Annual operational costs are significantly lower than recurring revenue, with a reduction in advertising, marketing, and G&A expenses by $7.7 million or 17% compared to 2023.
Strong Position in AI Training Content Licensing
CuriosityStream has secured deals to license over 8 million minutes of video and audio for AI training, with the expectation of this segment potentially exceeding direct revenue in 2025.
No Debt and Strong Liquidity
CuriosityStream ended the year with approximately $40 million in liquidity and no outstanding debt.
Lowlights
Decline in Full Year Revenue
Total revenue for the full year 2024 was $51.1 million, down from 2023, mostly due to fewer non-cash transactions.
Slight Decrease in Q4 Revenue Year-Over-Year
Q4 revenue was $14.1 million, slightly down from $14.8 million in the prior-year quarter.
Variable Revenue Decline
Variable revenue, although improved sequentially, was down slightly from the prior year quarter.
Company Guidance
During the CuriosityStream Fourth Quarter and Full Year 2024 Earnings Conference Call, CEO Clint Stinchcomb and CFO Brady Hayden highlighted significant financial improvements and strategic growth initiatives. The company reported a year-over-year cash flow increase of $26 million, transitioning from a $16 million loss in 2023 to a $10 million gain in 2024. They achieved their ninth consecutive quarter of increased cash flow, reaching an all-time high adjusted free cash flow of $3.3 million in Q4. Total revenue exceeded guidance, with subscription revenue showing growth both sequentially and annually. The call emphasized future growth driven by content monetization strategies, including licensing agreements with technology partners for AI training, expected to surpass direct revenue in 2025. CuriosityStream also announced an increase in its dividend to $0.16 per share for 2025, reflecting confidence in achieving double-digit growth in both revenue and free cash flow. The company ended 2024 with $40 million in liquidity and no debt, further enhancing its financial position.CuriosityStream Corporate Events
Business Operations and StrategyFinancial Disclosures
CuriosityStream Corrects 2024 Earnings Call Error
Neutral
Mar 12, 2025
On March 11, 2025, CuriosityStream Inc. clarified an error from its fourth quarter and full year 2024 earnings call, correcting that licensing revenue is expected to be more than half of its direct subscription revenue in 2025, aligning with previous statements and strategic forecasts. This correction ensures accurate communication with stakeholders and reflects the company’s strategic planning, though it highlights the inherent risks and uncertainties in forward-looking statements, as well as the competitive nature of the industry.
Business Operations and StrategyFinancial Disclosures
CuriosityStream Boosts Revenue with Licensing Strategy
Positive
Jan 15, 2025
On January 14, 2025, CuriosityStream’s CEO Clint Stinchcomb announced significant revenue growth from content and data licensing at an investor conference. The company is capitalizing on high demand for its assets to train next-gen AI models, expecting licensing revenue to exceed half of its direct subscription revenue, indicating a strategic shift to complement its core subscription business.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.