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CuriosityStream Inc. (CURI) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing total revenues of $51.1 million, a decrease from $56.9 million in the previous year. The decline was primarily due to reductions in Content Licensing and Bundled Distribution revenues.
Operating expenses decreased by 36% to $64.5 million, primarily due to a reduction in content amortization and advertising expenses. This led to a reduced operating loss of $13.3 million, compared to $44.5 million in the previous year.
Net loss for the year was $12.9 million, down from $48.9 million in the previous year. This improvement was driven by reduced operating losses and an increase in interest income.
The company reported cash and cash equivalents of $8.0 million as of December 31, 2024, with an additional $31.7 million held in investments. CuriosityStream believes these funds are sufficient to support ongoing operations for at least the next twelve months.
CuriosityStream continues to focus on its Direct-to-Consumer business, which saw a 10% increase in revenue to $38.6 million. This was offset by a decline in Content Licensing revenue, which fell by 44% to $7.8 million.
The company has implemented cost-saving initiatives, including workforce reductions, to operate more efficiently. Despite these efforts, CuriosityStream anticipates continued net losses in the near future.
CuriosityStream’s content library includes over 15,000 programs, and the company continues to invest in original programming and partnerships to expand its offerings.
The filing also notes potential risks, including competition from other streaming services, changes in consumer preferences, and regulatory challenges in international markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CuriosityStream Inc. annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.