CuriosityStream (CURI) AI Stock Analysis

• Market Cap: $202.87M
• Dividend Yield: 8.59%
• Average Volume (3M): 423.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.11
• Revenue Growth: 28.62%
• EPS Growth: 65.54%
• Country: US
• Employees: 45
• Sector: Communication Services
• Sector Strength: 97
• Industry: Broadcasting
• EPS (TTM): -0.07
• Shares Outstanding: 58,974,340
• 10 Day Avg. Volume: 533,035
• 30 Day Avg. Volume: 423,257
• PEG Ratio: 0.63
• Price to Book (P/B): 5.28
• Price to Sales (P/S): 3.06
• P/FCF Ratio: 16.91
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 2.72
• Enterprise Value/Gross Profit: 4.80
• Enterprise Value/Ebitda: 26.41
• 1Y Price Target: $5.75
• Price Target Upside: 67.15% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.02
• Revenue Forecast (FY): $76.94M

• Rating: 60 Neutral
• Price Target: $3.50 ▲(1.74% Upside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is driven primarily by improving financial performance—especially the shift to sustained positive operating and free cash flow—supported by a constructive earnings call highlighting revenue growth and an adjusted EBITDA turnaround. These positives are tempered by weak technical trends and the lack of GAAP profitability (reflected in the negative P/E), despite an unusually high dividend yield.

Positive Factors

Free cash flow generation

CuriosityStream has converted to durable positive operating and free cash flow, generating roughly $13M of FCF in 2025. Sustained FCF reduces reliance on external capital, funds dividends/buybacks and supports reinvestment into content/licensing initiatives over the next 2–6 months and beyond.

High‑margin AI/video licensing growth

The rapid expansion of licensing — driven by AI training fulfillments — shifts revenue to higher‑margin, B2B contracts. This structural mix change improves margin sustainability and diversifies revenue away from subscription cyclicality, underpinning steadier cash generation and scalable growth.

Improved margins and clean liquidity

Expanded gross margins (~57%) plus a strong liquidity position and no debt create durable financial flexibility. This supports strategic choices—buybacks, dividends, platform launches—and helps absorb content delivery cost volatility while reinforcing competitive positioning in factual streaming.

Negative Factors

GAAP losses and stock‑based comp

Despite cash flow gains, GAAP profitability remains negative and is materially affected by large noncash stock‑based compensation. Over time, persistent SBC can dilute shareholders and obscure operating profitability, complicating investor visibility into recurring earnings power.

Rising leverage and declining equity

Debt has increased meaningfully while equity trends downward due to multiyear losses. Although current leverage is moderate, the direction raises structural risk: higher interest/repayment obligations or further dilution could constrain capital allocation and limit runway for content investment or partnerships.

Lumpy licensing revenue and guidance ambiguity

A concentrated, lumpy licensing revenue cadence creates structural predictability issues for near‑term cash flow and planning. Management’s broad guidance bands reflect this variability; ongoing lumpiness can hinder reliable forecasting, budgeting for content spend, and the pace of margin improvement.

CuriosityStream Business Overview & Revenue Model

Company Description

CuriosityStream 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 Money

CuriosityStream generates revenue primarily by monetizing its non-fiction video catalog through a mix of direct subscriptions and licensing/distribution. A core stream is subscription revenue from consumers who pay recurring fees to access CuriosityStream’s streaming service (typically structured as monthly or annual plans, sold via web and app storefronts). The company also earns revenue from business-to-business distribution, where its content or service is bundled, licensed, or made available via third-party platforms (e.g., pay-TV operators, streaming aggregators, device ecosystems, and other distribution partners) under contractual terms that can include per-subscriber/affiliate fees, minimum guarantees, or revenue-share arrangements depending on the deal structure. In addition, the company can monetize content through licensing its programs to other media outlets or platforms and through related content distribution arrangements; specific deal economics and partner terms vary by agreement. If the company has additional material revenue streams beyond subscriptions and licensing/distribution, null.

CuriosityStream Financial Statement Overview

Summary

Financials show meaningful improvement led by strong positive operating cash flow (~$13.1M) and free cash flow (~$13.0M), plus a return to revenue growth and solid gross margins (~57%). Offsetting this, profitability is still negative (net loss and negative EBITDA margin), and the balance sheet discussion notes rising debt and declining equity as ongoing watch items.

Income Statement

TTM (Trailing-Twelve-Months) revenue improved to $71.7M with a solid gross margin of ~56.6% and a return to positive growth (+7.6%) versus the prior year decline. Losses have narrowed materially (net margin ~-9.0% in 2025 vs ~-25.3% in 2024 and far worse in 2022–2023), signaling better cost control. However, profitability remains negative (EBITDA ~-10.2% margin and net income still a loss), so the business has not yet demonstrated durable earnings power.

Balance Sheet

Leverage is still moderate (debt-to-equity ~0.30 in 2025), but debt increased meaningfully (to ~$12.4M from ~$4.3M in 2023–2024) while equity has trended down over time, consistent with multi-year losses. Returns on equity remain negative (about -15.5% in 2025), indicating ongoing value dilution from unprofitable operations. Overall, the capital structure looks manageable today, but the direction of debt and declining equity is a key watch item.

Cash Flow

Cash generation has strengthened significantly: operating cash flow was positive at ~$13.1M in 2025 and free cash flow was ~$13.0M (up ~7.5%), a major swing from negative free cash flow in 2021–2023. Free cash flow is strong relative to reported losses (free cash flow is roughly in line with net loss magnitude), supporting liquidity despite negative earnings. A drawback is that operating cash flow relative to revenue remains modest (coverage ratio ~0.43), so continued execution is needed to sustain cash generation.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	71.66M	51.13M	56.89M	78.04M	71.26M
Gross Profit	40.55M	25.77M	21.34M	26.51M	34.59M
EBITDA	7.37M	6.14M	-2.10M	-11.69M	-23.99M
Net Income	-6.43M	-12.94M	-48.90M	-50.92M	-37.63M
Balance Sheet
Total Assets	75.73M	86.18M	101.02M	154.11M	217.58M
Cash, Cash Equivalents and Short-Term Investments	18.32M	32.06M	37.72M	54.99M	81.05M
Total Debt	12.43M	4.28M	4.28M	4.65M	0.00
Total Liabilities	34.24M	28.33M	28.38M	36.49M	55.64M
Stockholders Equity	41.49M	57.85M	72.65M	117.63M	161.94M
Cash Flow
Free Cash Flow	12.96M	8.15M	-16.18M	-39.65M	-73.59M
Operating Cash Flow	13.06M	8.15M	-16.17M	-39.52M	-73.24M
Investing Cash Flow	23.15M	-31.41M	14.00M	62.70M	-74.94M
Financing Cash Flow	-25.78M	-7.01M	-123.00K	-218.00K	148.34M

CuriosityStream Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.44
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 3.44 is above the 20-day moving average (MA) of 3.24, above the 50-day MA of 3.36, and below the 200-day MA of 4.17, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 57.14 is Neutral, neither overbought nor oversold. The STOCH value of 56.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CURI.

CuriosityStream Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
CURI	60 Neutral	$202.87M	-34.09	-13.07%	8.59%	28.62%	65.54%
GTN	58 Neutral	$547.13M	-5.52	-3.00%	6.45%	-3.32%	-69.63%
FUBO	53 Neutral	$1.52B	5.65	41.79%	―	1.70%	―
SSP	52 Neutral	$322.28M	-3.48	1.81%	―	-3.27%	86.01%
SGA	52 Neutral	$71.87M	-8.92	0.18%	8.81%	-0.77%	-93.46%
MDIA	44 Neutral	$52.55M	-1.45	-49.86%	―	83.96%	-73.70%

CuriosityStream Corporate Events

CuriosityStream Delivers Strong 2025 Results and Outlook

CuriosityStream reported strong fourth-quarter and full-year 2025 results on March 11, 2026, with revenue for 2025 rising 40% to $71.7 million and gross margin improving to 57%, while narrowing its net loss and generating record operating cash flow of $13.1 million. The company expanded its content library by about 2 million hours, completed 18 AI training fulfillments, grew its global distribution footprint and Curiosity University subscriber base, and saw its board lift total share repurchase authorization to $6 million, underscoring confidence in its growth strategy and balance sheet strength.

Fourth-quarter 2025 revenue increased 36% to $19.2 million, gross profit reached a record $11.6 million, and Adjusted EBITDA turned positive at $1.1 million, supported by licensing demand and disciplined costs. CuriosityStream also broadened its FAST channel and wholesale partnerships, added new currency payment options, and entered 2026 with $27.3 million in cash and no debt, positioning it more competitively in the crowded streaming and digital media market.

The most recent analyst rating on (CURI) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on CuriosityStream stock, see the CURI Stock Forecast page.

CuriosityStream Appoints Chief Commercial Officer to Drive Growth

On February 5, 2026, CuriosityStream created the new executive role of Chief Commercial Officer and appointed industry veteran John T. Vilade to the position, reporting directly to President and CEO Clint Stinchcomb. Vilade, who brings more than 30 years of experience in media, technology, and business development from senior roles at NBCUniversal, Hulu, Discovery Communications, Premion, and most recently as CEO of 6P Color, will lead CuriosityStream’s global sales and business development efforts. The move underscores the company’s strategic push to drive high-margin, durable growth through its global distribution partnerships and to accelerate expansion of AI licensing relationships, signaling an effort to deepen monetization of its large, rights-controlled factual content library and strengthen its competitive positioning in the highly contested streaming and digital media landscape.

The most recent analyst rating on (CURI) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on CuriosityStream stock, see the CURI Stock Forecast page.

CuriosityStream Declares Dividend, Highlights AI Licensing Growth

On January 28, 2026, CuriosityStream’s board declared a $0.08 quarterly dividend payable March 20 to shareholders of record March 6, underscoring continued free-cash-flow strength and expanding AI-driven data licensing revenue. Management emphasized that scaling diversified income streams—subscriptions, content licensing, advertising, FAST/AVOD distribution, strategic partnerships, and the growing supply of premium video and audio for AI training customers—reinforces the company’s role as a dependable provider of factual content and supports durable returns to investors.

The most recent analyst rating on (CURI) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on CuriosityStream stock, see the CURI Stock Forecast page.

CuriosityStream Reaffirms 2025 Outlook, Highlights Strong Cash Generation

On January 8, 2026, CuriosityStream reiterated its previously issued financial outlook for the fourth quarter and full year 2025, signaling confidence in its growth trajectory and operational execution. For the quarter ended December 31, 2025, the company expects revenue between $18 million and $20 million, implying full-year 2025 revenue of $70 million to $72 million, a projected increase of 38% to 42% over 2024, and anticipates adjusted free cash flow of $2.5 million to $3.5 million for the quarter, implying $12 million to $13 million for the full year, up 27% to 37% from 2024. Management highlighted continued expansion of global reach, stronger distribution partnerships and the ability to fund planned 2026 dividends from operating cash, underlining robust cash generation and a strengthening financial profile. The company also announced that its management team will participate in a fireside chat, one-on-one investor meetings and industry panels on streaming and AI-driven media trends at the 28th Annual Needham Growth Conference in New York in mid-January 2026, as it seeks to further engage the investment community and reinforce its positioning within the streaming and digital media landscape.

The most recent analyst rating on (CURI) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on CuriosityStream stock, see the CURI Stock Forecast page.