Financial Data and Key Metrics Changes - In Q1 2022, revenue grew 77% year-over-year to $17.6 million, with direct-to-consumer (DTC) growth of 49% [9] - Cash burn was reduced by $19.3 million quarter-over-quarter, ending with a cash burn of $13.9 million [9] - The company ended the first quarter with a cash, restricted cash, and available-for-sale investments balance of $85 million [9] - Guidance for the first half of 2022 was increased, expecting revenue between $38 million to $40 million and EBITDA loss between $35 million to $33 million [10] Business Line Data and Key Metrics Changes - The company has invested over $188 million in original productions and acquired content through the end of 2022 [16] - The original production cost is believed to have an on-screen value over 5 times greater than what was paid for it, with over 10,000 titles in the library [17] Market Data and Key Metrics Changes - CuriosityStream operates in over 175 countries, with a focus on factual content in various genres [15] - The company distinguishes itself from competitors by not engaging in the escalating content spending war, focusing instead on monetizing content through multiple channels [19][20] Company Strategy and Development Direction - The company aims to achieve positive cash flow from operations by Q1 2023 and maintain a minimum cash balance of $50 million [11] - CuriosityStream plans to reduce expenditures on direct paid marketing while increasing revenue from ad-supported services [24] - The strategy includes expanding FAST and PayTV channels and enhancing audience engagement in AVOD and audio [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive cash flow and highlighted the importance of a strong cash position [13] - The company views its business as having three primary building blocks: a scalable streaming platform, a robust content library, and effective promotional outreach [15][25] - Management believes the demand for quality entertainment that informs and inspires will drive revenue growth [26] Other Important Information - The company is not currently planning any capital raises to support operations due to its strong cash position [13] - CuriosityStream is focused on maximizing the performance of its streaming platform and content while building promotional funnels [25] Q&A Session Summary Question: How do you differentiate between the value of library content and new content for subscription acquisition? - Management believes they have built a critical mass library with over 10,000 titles, which serves as a strong subscription acquisition tool [27][28] Question: Can you provide an update on One Day University? - Management is building the library and has added it to the premium tier, seeing growth and value in the content [33][34] Question: What surprises have you encountered in the ad-driven portion of the streaming business? - Management noted they are still in the experimentation phase regarding content programming for FAST channels [36][38] Question: How do you think about user retention and engagement regarding potential price increases? - Management sees room for better alignment of offerings with consumer pricing and is working thoughtfully on any potential increases [44] Question: Can you discuss your ability to attract and retain tech labor? - Management highlighted the company's purpose-driven culture and flexible working environment as attractive factors for talent [46] Question: How does your DTC strategy relate to marketing efficiency? - Management has refined their marketing approach to engage communities effectively, leading to stronger marketing efficiency [49][53] Question: What is the visibility on advertising and sponsorship revenue? - Management indicated they are on track for their best year ever in advertising revenue but did not disclose specific numbers [57]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-39139 | --- | --- | --- | --- | --- | |------------------------------------------------------------------|------------------------- ...

Financial Data and Key Metrics Changes - The company reported a year-over-year revenue growth of 140% in Q4 2021, with total revenue reaching $27.3 million, up from $11.4 million in Q4 2020 [8][40] - Full year revenue for 2021 was $71.3 million, an 80% increase year-over-year, exceeding the target of $71 million [9][38] - The fourth quarter EBITDA loss was $17.8 million, compared to a loss of $15.5 million in the previous year, attributed to lower gross margins and higher advertising expenses [43] Business Line Data and Key Metrics Changes - Content licensing revenue increased more than five-fold year-over-year to $10 million in Q4 2021 [39] - Direct-to-consumer (DTC) revenue growth was driven by strong subscriber growth and modestly higher average revenue per user (ARPU) [40] - The Smart Bundle, which offers six streaming services for $69.99 per year, positively impacted ARPU and subscriber retention [16] Market Data and Key Metrics Changes - International revenues grew at their highest rate on record, contributing significantly to overall revenue growth [8][15] - The company added approximately 3 million subscribers, with a majority coming from bundled distribution channels, particularly in international markets [63] Company Strategy and Development Direction - The company aims to align subscription pricing with the value provided to subscribers, indicating potential price increases in the future [20][21] - A focus on building a robust content library with over 10,000 titles, including 5,000 premium video selections, is central to the company's strategy [36] - The launch of the FAST channel, Curiosity Now, is intended to enhance advertising revenue and promote the DTC service [17][73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the uniqueness of their value proposition in the streaming market, emphasizing that they are not competing directly with general entertainment services [18][19] - The company is focused on achieving positive cash flow in the future, with a significant emphasis on profitability [51][36] - Management noted that the U.S. SVOD landscape is maturing, with potential consolidation among major players, while international markets remain less mature [52][54] Other Important Information - The company plans to introduce more original content in 2022 than in any previous year, with a diverse slate of programming [13][23] - The partnership with Nebula, a creator-owned streaming platform, is expected to enhance marketing and retention efforts [31][34] Q&A Session Summary Question: Pricing plan and timing for increases - Management indicated that they believe they have pricing power due to low churn rates but are considering A/B testing and other initiatives before implementing any price increases [48][49] Question: Long-term vision changes - The vision remains focused on subscriber growth and revenue, with an increased emphasis on profitability and engagement through UI/UX improvements [50][51] Question: Content spend for 2022 - The company has accelerated content spending over the past 12 to 18 months and plans to focus on achieving positive cash flow moving forward [62] Question: Subscriber growth mix - The majority of new subscribers in Q4 were from bundled distribution, particularly in international markets [63] Question: Impact of potential price increases on profitability - A hypothetical price increase would likely result in a majority of the additional revenue flowing through to the bottom line, enhancing profitability [64] Question: Engagement metrics and content sustainability - Management noted that factual content has a long shelf life and is not hit reliant, allowing for consistent viewer engagement [86] Question: FAST channel strategy - The FAST channel is seen as an opportunity to extend monetization and reach new viewers, while still focusing on the core DTC service [73][74]

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 ...

CuriosityStream Inc. (NASDAQ:CURI) Q3 2021 Earnings Conference Call November 9, 2021 5:00 PM ET Company Participants Denise Garcia - Investor Relations Clint Stinchcomb - Chief Executive Officer Jason Eustace - Chief Financial Officer Devin Emery - Chief Product Officer and Executive Vice President, Content Strategy Conference Call Participants Tom Forte - D.A. Davidson Peter Henderson - Bank of America Zilu Pan - JPMorgan Operator Good day, and thank you for standing by. Welcome to the CuriosityStream Q3 E ...

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 ...

CuriosityStream Inc. (NASDAQ:CURI) Q2 2021 Earnings Conference Call August 10, 2021 5:00 PM ET Company Participants Denise Garcia - Investor Relations Clint Stinchcomb - Chief Executive Officer Jason Eustace - Chief Financial Officer Tia Cudahy - COO and General Counsel Devin Emery - Chief Product Officer and EVP, Content Strategy Conference Call Participants Devin Brisco - Bank of America Darren Aftahi - ROTH Dan Kurnos - Benchmark Alexia Tsimikas - D.A. Davidson Dan Medina - Needham & Company Operator Goo ...

CuriosityStream Inc. (NASDAQ:CURI) Q1 2021 Earnings Conference Call May 11, 2021 5:00 PM ET Company Participants Denise Garcia - IR Clint Stinchcomb - CEO Jason Eustace - CFO Tia Cudahy - COO and General Counsel Devin Emery - Chief Product Officer and EVP, Content Strategy Conference Call Participants Tom Forte - D.A. Davidson & Company Dan Kurnos - The Benchmark Company, LLC Darren Aftahi - ROTH Capital Partners Logan Thomas - Stifel Operator Ladies and gentlemen, thank you for standing by and welcome to t ...

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 March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39139 CURIOSITYSTREAM INC. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | |-----------------------------------------| ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 84-1797523 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 8484 Georgia Ave., Suite 700 Silver Spring, Maryland 20910 (Address of principal executive offices) (Zip Code) Title of each class Trading Symbol(s) Name of 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 ...