Group 1 - CuriosityStream, Inc. will participate in the 38th Annual ROTH Conference, with President and CEO Clint Stinchcomb attending 1x1 meetings [1] - The conference will take place from March 22-24, 2026, at The Ritz-Carlton Laguna Niguel, Dana Point, CA, featuring various growth sectors including Business Services, Consumer, Healthcare, and Media & Entertainment [1] - The event will include small group meetings, analyst-selected fireside chats, industry keynotes, and panels with executive management from numerous private and public companies [1] Group 2 - ROTH is a relationship-driven investment bank that focuses on serving growth companies and their investors, providing services such as capital raising, equity research, and M&A advisory [2] - ROTH is headquartered in Newport Beach, California, and is a privately-held, employee-owned organization with offices throughout the U.S. [2] Group 3 - CuriosityStream Inc. is a global media company that offers award-winning original and curated factual films, shows, and series across various topics including science, nature, and technology [4] - The company operates the Curiosity Stream SVOD service available in over 175 countries and has millions of subscribers worldwide [4] - CuriosityStream also features multiple channels and platforms, including Curiosity University, Curiosity Audio Network, and Curiosity Studios, which oversees original programming [4]

Core Insights - CuriosityStream reported a 40% revenue growth for the full year 2025, reaching $71.7 million, with a record operating cash flow of $13.1 million, up 60% from the previous year [1] - The company achieved a record gross profit of $40.5 million for 2025, representing a gross margin of 57%, compared to 50% in 2024 [1] - The Board of Directors authorized a total of $6 million in share repurchases, reflecting confidence in the company's financial health [1] Financial Performance - Fourth quarter 2025 revenue was $19.2 million, a 36% increase from $14.1 million in Q4 2024, with a gross profit of $11.6 million, achieving a gross margin of 61% [1] - The net loss for Q4 2025 was $3.8 million, which included $4.3 million in non-cash stock-based compensation, compared to a net loss of $2.8 million in Q4 2024 [1] - Adjusted EBITDA for Q4 2025 was $1.1 million, a significant improvement from an Adjusted EBITDA loss of $1.9 million in Q4 2024 [1] Business Highlights - CuriosityStream secured rights to approximately 2 million hours of video and audio data across various genres, enhancing its content library [1] - The company completed 18 distinct AI training fulfillments and licensed several million short-form clips for AI training and traditional media distribution [1] - New service launches included Curiosity University on The Roku Channel and expanded partnerships with Samsung TV Plus, increasing its reach in multiple regions [1] Financial Outlook - For the first half of 2026, CuriosityStream expects revenue to be in the range of $38 million to $42 million and Adjusted Free Cash Flow to be between $6 million and $9 million [1]

Core Insights - CuriosityStream Inc. will release its financial results for the fourth quarter and year-end of 2025 on March 11, 2026, after market close [1] - A Q&A conference call will be held on the same day at 5:00 p.m. Eastern Time to discuss the results [1] - The company operates a global factual entertainment media platform with millions of subscribers and thousands of titles available in over 175 countries [1] Financial Reporting - The financial results will be available after market close on March 11, 2026 [1] - A live audio webcast of the conference call will be accessible on the CuriosityStream Investor Relations website [1] - Participants can join the call via toll-free number or international dialing options [1] Company Overview - CuriosityStream Inc. is recognized for its award-winning original and curated factual content covering various topics such as science, nature, history, technology, society, and lifestyle [1] - The company operates multiple platforms including the Curiosity Stream SVOD service, Curiosity Channel, Curiosity University, and Curiosity Audio Network [1] - CuriosityStream Inc. is a wholly owned subsidiary of CuriosityStream Inc. listed on Nasdaq under the ticker CURI [1]

Core Insights - CuriosityStream, Inc. is participating in the 28th Annual Needham Growth Conference, with management scheduled for a fireside chat and one-on-one meetings [1] - CEO Clint Stinchcomb will speak on panels discussing the future of streaming and the impact of AI and technology in media and advertising [1] Company Overview - CuriosityStream Inc. is a global factual entertainment media company offering original and curated content across various genres including science, nature, history, technology, society, and lifestyle [2] - The company operates the Curiosity Stream SVOD service, available in over 175 countries, and has millions of subscribers [2] - Additional offerings include Curiosity Channel, Curiosity University, Curiosity Now, Curiosity Explora, Curiosity Audio Network, and Curiosity Studios [2]

Core Insights - CuriosityStream has appointed John Higgins as Vice President of Content Partnerships to enhance growth in AI licensing and strategic alliances [2][3] - Higgins will focus on expanding licensing relationships with major technology and AI developers, reporting directly to the CEO [2][3] - The company aims to leverage its extensive video library, which includes nearly two million hours of content, to drive revenue growth through AI licensing [3] Company Overview - CuriosityStream is a global leader in factual entertainment, providing premium nonfiction programming to millions of viewers worldwide [2][5] - The company operates various services, including the flagship Curiosity Stream SVOD service, Curiosity Channel, and Curiosity University, among others [5][6] - CuriosityStream's subscription services and rapidly expanding AI content licensing division are key growth pillars, reinforcing its position in the media and AI sectors [3][5] Leadership and Strategy - John Higgins has been instrumental in advancing CuriosityStream's AI licensing initiatives and building relationships with leading hyperscalers and AI developers [3][4] - Under Higgins' leadership, the company has launched several initiatives, including the Curiosity Audio Network and Curiosity University, to diversify its offerings [4] - The focus on ethically sourced and data-enriched video content positions CuriosityStream as a premier partner in the AI era [3][4]

Financial Data and Key Metrics Changes - Quarterly revenue grew by 53% year over year from $12.4 million to $19 million, exceeding guidance [6][27] - Net income improved by nearly $3 million year over year, reaching $800,000 or $0.01 per share [7][28] - Adjusted EBITDA increased by over $4 million year over year from negative $1 million to positive $3 million, marking the highest adjusted EBITDA in company history [7][28] - Adjusted free cash flow was $2.9 million, representing the sixth consecutive quarter of positive adjusted free cash flow [29] Business Line Data and Key Metrics Changes - Subscription revenue was $9.3 million, a decline of $1.7 million from last year but a sequential increase from Q1 [29] - Content licensing revenue was $9.3 million, an increase of over $8 million driven by significant new business from AI licensing [29] - Gross margin improved slightly to 53% from 52% a year ago, with reductions in content amortization [30] Market Data and Key Metrics Changes - The company has entered into new and expanded multiyear wholesale distribution agreements in Asia, Latin America, and the U.S., which are expected to boost subscription revenue [8] - The dataset licensing for AI training has grown substantially for three consecutive quarters, including licensing about 9 million tokens of code for the first time [10][11] Company Strategy and Development Direction - The company aims to have three solid revenue pillars: subscription business, licensing business, and advertising business, with expectations for steady growth in subscriptions and rapid growth in licensing [37] - The company is focused on becoming a dominant AI video licensor, with plans to license more video and data than in 2025 [24][25] - The company emphasizes the importance of its extensive library of over 1 million hours of content and its ability to structure data effectively as competitive advantages [19][21] Management's Comments on Operating Environment and Future Outlook - Management believes the market for high-quality, ethically sourced video and audio content is durable and growing, with estimates of industry-wide needs ranging from billions to tens of billions of hours [14][15] - The company is confident in its ability to navigate the evolving landscape of AI and media, focusing on meaningful information while disregarding distractions [22][23] - The company maintains a strong balance sheet with $31 million in liquidity and no debt, positioning itself as a high-performance outlier amid technological revolution [25][31] Other Important Information - The company paid dividends of $10.4 million in June, including a special dividend of $5.8 million, resulting in a dividend yield of about 6.5% [31] - The company expects third-quarter revenue in the range of $15 million to $18 million and adjusted free cash flow for 2025 in the range of $11 million to $13 million [32] Q&A Session Summary Question: Why is the company in the core media business? - Management stated that the subscription video on demand business is strong and global, representing the core of the company, and that all revenue streams work together synergistically [36][37] Question: What are the expected cost increases as the company pivots towards high-growth licensing? - Management indicated that the primary costs would be related to storage and delivery, but overall costs would remain manageable due to existing revenue-sharing arrangements [40][41] Question: What is the significance of licensing code for AI training? - Management explained that while video is the primary focus, the inclusion of code in licensing is a unique opportunity that reflects the value of owning and controlling intellectual property [49][50] Question: Is the company exploring other types of video content for licensing? - Management confirmed that while the focus remains on building a factual entertainment library, there is potential value in other types of video content, particularly if they are not freely available [53][55]