CURIOSITYSTREAM EQ. WARRT(CURIW) - 2025 Q2 - Quarterly Results

Revenue Performance - Revenue increased 53% year-over-year to $19 million for Q2 2025, surpassing guidance [2] - Revenues for Q2 2025 reached $19,012,000, a 53.5% increase from $12,395,000 in Q2 2024 [21] - Licensing revenue reached $9.3 million, driven by AI partnerships [4] - Q3 revenue is expected to be in the range of $15 million to $18 million [10] Profitability Metrics - Record net income of $0.8 million, an improvement of $2.8 million compared to a net loss of $2.0 million in Q2 2024 [5] - Operating income improved to $480,000 in Q2 2025, compared to a loss of $2,549,000 in Q2 2024 [21] - Net income for the first half of 2025 was $1,103,000, a significant recovery from a net loss of $7,066,000 in the same period of 2024 [23] - Record Adjusted EBITDA of $3.0 million, an improvement of $4.0 million compared to an Adjusted EBITDA loss of $1.0 million in Q2 2024 [5] - Adjusted EBITDA for Q2 2025 was $3,022,000, compared to a loss of $1,005,000 in Q2 2024 [25] Cash Flow and Financial Position - Full-year 2025 Adjusted Free Cash Flow is projected to be between $11 million and $13 million [10] - Net cash provided by operating activities for the first half of 2025 was $4,711,000, up from $2,856,000 in the first half of 2024 [23] - Adjusted Free Cash Flow for the first half of 2025 was $4,866,000, compared to $3,648,000 in the first half of 2024 [26] - Total cash, restricted cash, and held-to-maturity securities balance was $30.7 million with no debt as of June 30, 2025 [5] - Cash, cash equivalents, and restricted cash at the end of the period were $7,003,000, down from $39,644,000 at the end of the same period in 2024 [23] Operating Expenses and Stock Compensation - Total operating expenses for Q2 2025 were $18,532,000, an increase from $14,944,000 in Q2 2024 [21] - The company incurred $3,077,000 in stock-based compensation in the first half of 2025, compared to $2,014,000 in the same period of 2024 [25] Shareholder Information - The weighted average number of common shares outstanding for Q2 2025 was 57,585,000, compared to 53,613,000 in Q2 2024 [21] New Initiatives and Partnerships - New service launches include Curiosity University's launch on Amazon Prime in multiple European countries [10] - Expanded partnerships for AI training data and video licensing for the third consecutive quarter [10]