Curiosity(CURI) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for Q1 2025 was $15.1 million, representing a 26% increase year-over-year from $12.0 million in Q1 2024[5] - Net income improved to $0.3 million in Q1 2025, compared to a net loss of $5.0 million in Q1 2024[6] - Adjusted EBITDA for Q1 2025 was $1.1 million, a significant improvement from an adjusted EBITDA loss of $2.8 million in Q1 2024[6] - Revenues for the three months ended March 31, 2025, increased to $15,090,000 from $12,001,000 in the same period of 2024, representing a growth of 25.9%[23] - Operating income improved to $79,000 compared to a loss of $3,654,000 in the prior year, indicating a significant turnaround in profitability[23] - Net income for the period was $319,000, a recovery from a net loss of $5,035,000 in the previous year[23] - Adjusted EBITDA for the three months ended March 31, 2025, was $1,102,000, compared to a loss of $2,848,000 in the same period of 2024[27] - Net cash provided by operating activities increased to $1,922,000 from $666,000 year-over-year, reflecting improved cash flow management[29] - Adjusted Free Cash Flow for the period was $2,005,000, up from $1,186,000 in the prior year, indicating enhanced financial flexibility[29] - The company reported a basic net income per share of $0.01, recovering from a loss of $0.09 per share in the same quarter of 2024[23] Guidance and Future Outlook - The company guided for Q2 2025 revenue growth of 30-37% year-over-year[5] - The annual dividend was increased by 100% to $0.32 per share, reflecting confidence in future growth[5] Cost Management - Total advertising and marketing expenses decreased by 11% year-over-year to $7.9 million[6] - Total operating expenses decreased slightly to $15,011,000 from $15,655,000, demonstrating cost control efforts[23] Cash and Securities - Cash, restricted cash, and held-to-maturity securities balance was $39.1 million with no debt as of March 31, 2025[6] - Cash, cash equivalents, and restricted cash at the end of the period totaled $9,308,000, compared to $38,875,000 at the end of the same period in 2024[25] Investments and Services - CuriosityStream launched new services across North and Latin America, including Curiosity University on The Roku Channel[10] - The company secured rights to over 210,000 hours of video and audio data across various genres[10] - The company incurred $863,000 in stock-based compensation, up from $689,000 in the previous year, reflecting ongoing investment in talent[27]