CuriosityStream Inc. (NASDAQ:CURI) Q2 2023 Earnings Conference Call August 14, 2023 5:00 PM ET Company Participants Denise Garcia - IR Clint Stinchcomb - CEO Peter Westley - CFO Conference Call Participants Laura Martin - Needham Peter Henderson - Bank of America Jim Goss - Barrington Research Sharanjit Cheema - D.A. Davidson Operator Good afternoon, and welcome to the CuriosityStream Second Quarter 2023 Earnings Call. My name is Briana, and I will be your conference operator today. Please note that this ca ...

Table of Contents Common Stock, par value $0.0001 CURI NASDAQ CURIW NASDAQ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 The accompanying notes are an integral part of these consolidated financial statements. CuriosityStream Inc. Consolidated Balance sheets (in thousands, except par value) | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

CuriosityStream Inc. (NASDAQ:CURI) Q1 2023 Earnings Conference Call May 11, 2023 5:00 PM ET Company Participants Denise Garcia - Investor Relations Clint Stinchcomb - Chief Executive Officer Peter Westley - Chief Financial Officer Conference Call Participants Tom Forte - D.A. Davidson Laura Martin - Needham Peter Henderson - Bank of America Jim Goss - Barrington Operator Good afternoon, ladies and gentlemen. Welcome to the CuriosityStream First Quarter 2023 Earnings Conference Call. At this time, all partic ...

In accordance with the requirements of the Exchange Act, the registrant caused this Quarterly Report on Form 10-Q to be signed on its behalf by the undersigned, thereunto duly authorized. Date:May11,2023 | --- | --- | --- | |----------------|-----------------------------------------------------------------------------------------------------------------------|-------| | By: | CURIOSITYSTREAM INC. \n/s/ Clint Stinchcomb | | | Name: Title: | Clint Stinchcomb President and Chief Executive Officer (Principal Ex ...

Financial Data and Key Metrics Changes - The company reported fourth quarter revenue of $14.5 million, down from $27.3 million in the prior year quarter, primarily due to a $9.5 million reduction in content licensing revenues and a $2.2 million reduction in bundled distribution revenues [73][74][112] - Adjusted EBITDA loss improved year-over-year from a loss of $16.3 million to a loss of $13.6 million [111] - Adjusted free cash flow improved by $22.7 million year-over-year, from negative $31.5 million to negative $8.8 million [80][71] Business Line Data and Key Metrics Changes - Direct-to-consumer SVOD revenues grew 12% in the fourth quarter and 25% for the full year year-over-year [42] - The Smart Bundle achieved 32% subscriber growth this year, with expectations for higher percentages of new subscribers opting for the Smart Bundle in 2023 due to increased standard pricing [75][66] - Content licensing revenue was $3 million in the fourth quarter, down from $12.5 million in the prior year quarter, negatively impacted by Spiegel TV-related charges [107] Market Data and Key Metrics Changes - The company ended the year with over $55 million in cash and short-term investments and zero debt, exceeding its year-end target cash balance of $50 million [61] - The enterprise category grew 18% year-over-year to $1.4 million in the fourth quarter [77] - The company expects content amortization expense to decrease from approximately $39 million in 2022 to $25 million to $30 million in 2023 [113] Company Strategy and Development Direction - The company is focused on improving the economics of partnerships and vendor agreements, aiming for long-term value creation over short-term revenue opportunities [40][62] - A new pricing structure was implemented, increasing the standard service price to $39.99 per year and $4.99 per month for new subscribers, with expectations of a blended price increase of about 83% for new customers [63][134] - The company is transitioning to a performance-based customer acquisition marketing model, significantly reducing marketing commitments for 2023 [74][82] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to drive accelerated subscription revenue growth and profitability through the new pricing structure and performance-based marketing [42] - The macro environment, while challenging, has presented new opportunities for partnerships and strategic growth, particularly in international markets [68][98] - The company is confident in its ability to achieve positive adjusted free cash flow in the near term and sustain long-term growth [60][71] Other Important Information - The company has made strategic decisions to exit certain low-margin licensing opportunities to focus on higher-value partnerships [117][121] - The company is actively engaged in discussions with distributors worldwide to sign new contracts for growth [108] - The company has a critical mass content library of over 15,000 programs, which is leveraged for subscriber retention and engagement [95] Q&A Session All Questions and Answers Question: Can you help us understand the impact of the parts of the business that you strategically decided to exit? - Management indicated that they passed on meaningful licensing opportunities to retain certain rights and pursue broader licensing rights, balancing immediate revenue against long-term potential [117] Question: How will the pricing increases play out for consumers? - New customers will see the new pricing immediately, while current monthly customers will transition over the next few months, and annual customers will transition over the next 11 to 12 months [134] Question: What is the outlook for content licensing revenue? - Management noted that content licensing revenue is expected to decline significantly as the company shifts focus to higher-margin opportunities and pulls back on zero-margin presales revenue [147]

The Company uses the asset and liability method of accounting for income taxes, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to the differences between the carrying amounts of existing assets and liabilities as reported in the consolidated balance sheets and their respective tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences ar ...

CuriosityStream, Inc. (NASDAQ:CURI) Q3 2022 Earnings Conference Call November 9, 2022 5:00 PM ET Company Participants Denise Garcia - Investor Relations Clint Stinchcomb - President & Chief Executive Officer Peter Westley - Chief Financial Officer Conference Call Participants Thomas Forte - D.A. Davidson & Co. Peter Henderson - Bank of America Operator Good afternoon, good evening. My name is Devin and I will be your conference operator for today. At this time, I would like to welcome everyone to the Curios ...

Table of Contents Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.0001 CURI NASDAQ Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share CURIW NASDAQ Emerging growth company ☒ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2022 ☐ TRANSITIO ...

CuriosityStream, Inc. (NASDAQ:CURI) Q2 2022 Earnings Conference Call August 15, 2022 5:00 PM ET Company Participants Denise Garcia - IR Clint Stinchcomb - President, CEO & Director Peter Westley - CFO Devin Emery - Chief Strategy Officer Conference Call Participants Laura Martin - Needham & Company Thomas Forte - D.A. Davidson & Co. Peter Henderson - Bank of America Merrill Lynch James Goss - Barrington Research Associates Daniel Kurnos - The Benchmark Company Darren Aftahi - ROTH Capital Partners Operator ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 84-1797523 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 CURI NASDAQ Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share CURIW NASDAQ Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporti ...