Key Financial Data
- Total revenue: $18.4 million (+46% year-over)
- Gross profit: $10.8 million (+59%)
- Net income: -$3.7 million
- Adjusted EBITDA: $3 million
- Cash & related securities: $29.3 million
- Advertising & marketing expenditures: $15.3 million
- Read more Q3 2025 media earnings coverage
CuriosityStream revealed a sharp increase in income during its third quarter (Q3) of the year, boosted by better revenue from its direct-to-consumer streaming operation and ongoing content licensing initiatives.
Revenue at CuriosityStream rose 46 percent to $18.4 million during Q3, compared to $12.6 million last year. Gross profit reached a record $10.8 million, while the company’s net loss widened slightly to $3.7 million.
Executives at CuriosityStream said the higher net loss was mainly attributed to $7 million in non-cash, stock-based compensation. The company ended the quarter with $29.3 million in cash, restricted cash and investments; it reported no debt.
“Our Q3 results — above guidance — reflect disciplined execution and durable, recurring demand for our content,” Clint Stinchcomb, the President and CEO of CuriosityStream, said in a prepared statement. “Revenue grew 46 percent year over year, adjusted free cash flow increased 88 percent, and Adjusted EBITDA improved from negative to a positive $3 million. Our complementary growth engines — retail and wholesale subscriptions, plus AI and traditional licensing — are building momentum and strengthening CuriosityStream’s position at the intersection of knowledge, media, and artificial intelligence.”
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CuriosityStream, which offers its own documentary-filled streaming service and numerous free, ad-supported streaming TV (FAST) channels, continued to expand its subscription and licensing businesses during the quarter, launching new partnerships in the United States, Australia, New Zealand and Germany. It also expanded data and video licensing arrangements for AI training, amassing nearly 2 million hours of factual video and audio content across multiple genres.
CuriosityStream’s advertising-supported offerings also grew, with its flagship and U.S. Hispanic FAST channels recently added to major platforms including Amazon, Roku, LG and President Donald Trump’s streaming video service Truth Plus.
Looking ahead, CuriosityStream expects fourth-quarter revenue between $18 million and $20 million, representing growth of between 27 and 42 percent year over year, with adjusted free cash flow projected between $2.5 million and $3.5 million.
