CuriosityStream Inc. released its third‑quarter 2025 financial results on November 12, 2025, reporting revenue of $18.4 million—an increase of 46 % from the $12.6 million recorded in the same quarter last year. The company posted a net loss of $3.7 million, translating to a loss per share of $0.06, which missed the consensus estimate of a $0.02 loss.
The revenue growth was driven primarily by a 46 % year‑over‑year rise in licensing and subscription revenue, with the AI‑training‑data segment contributing the largest share of the increase. Direct‑to‑consumer subscriptions grew modestly, while content licensing to third‑party platforms expanded as demand for factual entertainment and AI training data continued to rise.
Gross margin improved to 58.7 % in Q3 2025 from 53.7 % in Q3 2024, reflecting a higher mix of high‑margin AI licensing contracts and tighter cost control in content production. The company’s adjusted EBITDA turned positive at $3.0 million, up from a $0.4 million loss in the same quarter last year, underscoring operational efficiency gains.
The EPS miss was largely attributable to $7.0 million in non‑cash, stock‑based compensation and other one‑time charges that were not reflected in the adjusted EBITDA figure. When these items are excluded, the underlying earnings per share would have been closer to the consensus estimate.
Management guided for fourth‑quarter revenue of $18 million to $20 million, representing a 27 % to 42 % year‑over‑year increase, and projected adjusted free cash flow of $2.5 million to $3.5 million. The guidance signals confidence in sustained demand for the company’s AI licensing and subscription businesses.
CEO Clint Stinchcomb emphasized that the quarter’s results “reflect disciplined execution and durable, recurring demand for our content.” CFO Phillip Hayden noted that the company’s “third sequential quarter of positive adjusted EBITDA” demonstrates the effectiveness of its cost‑control initiatives and the growing contribution of AI licensing to top‑line growth.
Investors reacted positively to the earnings release, citing the revenue beat, 46 % year‑over‑year growth, and the turnaround in adjusted EBITDA as key drivers of confidence in CuriosityStream’s strategic direction.
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