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Curiositystream (CURI) investor relations material
Curiositystream Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue grew 46% year-over-year to $18.4 million, surpassing guidance and consensus estimates by $2 million, driven by a surge in content licensing, especially for AI training.
Adjusted EBITDA turned positive at $3.0 million, a $3.4 million improvement year-over-year, exceeding estimates by $1.9 million.
Operating cash flow rose 101% to $4.5 million, and adjusted free cash flow increased 88% to $4.8 million.
Net loss for Q3 2025 was $3.7 million ($0.06/share), up from $3.1 million last year, mainly due to higher operating expenses and $7 million in non-cash stock-based compensation.
Monetization diversified across subscriptions, licensing, and advertising, with licensing revenue up over 400% year-over-year.
Financial highlights
Q3 2025 revenue: $18.4 million, up from $12.6 million in Q3 2024 (46% YoY growth).
Content licensing revenue grew 425% YoY to $8.7 million, now 47% of total revenue, driven by AI training deals.
Adjusted EBITDA: $3.0 million, a $3.4 million improvement year-over-year and flat sequentially.
Adjusted free cash flow: $4.8 million, up $2.3 million year-over-year; seventh consecutive positive quarter.
Gross margin improved to 59% from 54% last year.
Net loss: $3.7 million ($0.06/share), compared to $3.1 million loss last year, due to non-cash and one-time charges.
Cash, restricted cash, and held-to-maturity securities totaled $29.3 million at quarter-end, with no debt.
Outlook and guidance
Q4 2025 revenue expected between $18–$20 million; full-year 2025 revenue projected at $70–$72 million (38–42% growth year-over-year).
Q4 adjusted free cash flow guidance: $2.5–$3.5 million; full-year 2025 adjusted free cash flow expected at $12–$13 million (27–37% growth).
Licensing revenue anticipated to surpass subscription revenue by 2027 or earlier.
Intends to pay 2026 dividends from operating cash; $0.08 per share dividend declared for Q4 2025.
Current liquidity expected to be sufficient for at least the next twelve months, supporting operations, capital expenditures, and dividends.
- TimeTickerHeadlineOpen
- 6 FebCPT
2025 results beat guidance; Sun Belt focus, asset sales, and share buybacks drive 2026 strategy. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and strategic spin-offs for future growth. - 6 FebCRI
H1 2025 saw a return to profit, record revenues, and strong cash from major space projects. - 6 FebSCW
Q2 2025 revenue up 120% y/y, driven by record Asian contract and backlog growth. - 6 FebSCW
Revenue up 89% y/y, record backlog, and new strategy for European optical payload leadership. - 6 FebSCW
Q2 2024 revenue up 115% y/y, backlog nearly doubled, driven by major space contracts. - 6 FebSCW
Space segment drives 29% revenue growth, strong backlog and contracts support 2025 outlook. - 6 FebSCW
73% revenue growth, record backlog, and major space contracts drive expansion and investment. - 6 FebPENG
All proposals passed, with no questions raised and results to be filed on Form 8-K. - 6 FebSCW
Q1 2025 revenue surged 97% year-over-year, with strong backlog and new contracts secured.
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