Financial Performance - Revenue for Q3 2025 reached $18.4 million, representing a 46% year-over-year increase[5] - Adjusted EBITDA improved to a positive $3 million, compared to a loss of $0.4 million in Q3 2024[6] - Operating cash flow increased by 101% to $4.5 million, up from $2.3 million in Q3 2024[5] - Gross margin improved to 59%, up from 54% in the same quarter last year[5] - Revenues for the three months ended September 30, 2025, increased to $18,359,000, up 45.5% from $12,604,000 in the same period of 2024[22] - Operating loss for the three months ended September 30, 2025, was $(4,491,000), compared to $(3,252,000) in 2024, indicating a deterioration in operational performance[22] - Net loss for the nine months ended September 30, 2025, was $(2,641,000), a significant improvement from $(10,128,000) in the same period of 2024[24] - Adjusted EBITDA for the three months ended September 30, 2025, was $2,978,000, compared to a loss of $(407,000) in 2024, reflecting improved operational efficiency[26] Cash Flow and Liquidity - As of September 30, 2025, the company reported a cash balance of $29.3 million and no debt[6] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $9,088,000, an increase from $5,116,000 in 2024[24] - Cash, cash equivalents, and restricted cash at the end of the period were $14,168,000, up from $9,713,000 in 2024[24] - Adjusted Free Cash Flow for the nine months ended September 30, 2025, was $9,554,000, compared to $6,220,000 in 2024, showing improved cash generation capabilities[27] - Adjusted Free Cash Flow for Q4 2025 is projected to be between $2.5 million and $3.5 million[11] Market Expansion and Investments - The company launched subscription services in the U.S., Australia, New Zealand, and Germany, expanding its market reach[11] - CuriosityStream has built a nearly 2-million-hour library of video and audio for AI training, enhancing its content offerings[11] - Total operating expenses for the three months ended September 30, 2025, were $22,850,000, up from $15,856,000 in 2024, reflecting increased investment in operations[22] - Stock-based compensation for the nine months ended September 30, 2025, was $10,054,000, compared to $4,734,000 in 2024, indicating increased investment in employee incentives[26] Future Projections - The company expects Q4 2025 revenue to be between $18 million and $20 million, indicating year-over-year growth of 27% to 42%[11] - The company declared a cash dividend of $0.08 per share, payable on December 19, 2025[2] - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 57,930,000, compared to 54,850,000 in 2024, indicating potential dilution[22]
CURIOSITYSTREAM EQ. WARRT(CURIW) - 2025 Q3 - Quarterly Results