CuriosityStream Inc

NASDAQ:CURIUnited States

May 7, 2024

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• CuriosityStream Reports Q1 2024 Earnings Results, from 4:05PM ET on Tuesday May 07, 2024 by Business Wire

  4:05PM ET on Tuesday May 07, 2024 by Business Wire
  Companies Mentioned: CURI

  CuriosityStream Inc. (NASDAQ: CURI), a global factual entertainment company, today announced its financial results for the first quarter ended March 31, 2024. In addition, the Company's Board of Directors declared a quarterly cash dividend of $0.025 per share, payable on July 31, 2024, to stockholders of record on July 12, 2024.

• *DJ CuriosityStream 1Q Loss $5.04M >CURI, from 4:05PM ET on Tuesday May 07, 2024 by Dow Jones

  4:05PM ET on Tuesday May 07, 2024 by Dow Jones
  Companies Mentioned: CURI
  Consolidated Statements of Cash Flows Three Months Ended March 31, -------------------------------------- (Unaudited and in thousands) 2024 2023 ------------------- ----------------- Cash flows from operating activities Net loss $ (5,035) $ (7,751) Adjustments to reconcile net loss to net cash used in operating activities Change in fair value of warrant liability 30 74 Additions to content assets (426) (3,723) Change in content liabilities (333) (1,206) Amortization of content assets 5,215 5,852 Depreciation and amortization expenses 117 127 Amortization of premiums and accretion of discounts associated with investments in debt securities, net -- 26 Stock-based compensation 689 1,267 Equity method investment loss 1,756 219 Other non-cash items 122 121 Changes in operating assets and liabilities Accounts receivable (116) 1,200 Other assets 502 944 Accounts payable (1,477) 1,440 Accrued expenses and other liabilities (419) (4,514) Deferred revenue 41 (384) ----------- ---------- Net cash used in operating activities 666 (6,308) ----------- ---------- Cash flows from investing activities Purchases of property and equipment -- (5) Maturities of investments in debt securities -- 15,000 ----------- ---------- Net cash provided by investing activities -- 14,995 ----------- ---------- Cash flows from financing activities Payments related to tax withholding (6) (26) ----------- ---------- Net cash used in financing activities (6) (26) ----------- ---------- Net increase in cash, cash equivalents and restricted cash 660 8,661 Cash, cash equivalents and restricted cash, beginning of period 38,215 40,507 ----------- ---------- Cash, cash equivalents and restricted cash, end of period $ 38,875 $ 49,168 =========== ========== Supplemental disclosure: Cash paid for taxes $ (2) $ -- Cash paid for operating leases $ 138 $ 134 CuriosityStream Inc. Reconciliation from Net Loss to Adjusted EBITDA Three Months Ended March 31, ------------------------- (Unaudited and in thousands) 2024 2023 --- ------- ------ Net loss $ (5,035) $(7,751) Change in fair value of warrant liability 30 74 Interest and other (income) expense (439) (388) Provision for Income taxes 34 58 Equity method investment loss 1,756 219 Depreciation and amortization(1) 117 127 Stock-based compensation 689 1,267 --- ------- ------ Adjusted EBITDA $ (2,848) $(6,394) === ======= ====== (1) These amounts do not include amortization of content assets. CuriosityStream Inc. Reconciliation from Net Cash Flow used in Operating Activities to Adjusted Free Cash Flow Three Months Ended March 31, ------------------------- (Unaudited and in thousands) 2024 2023 ------- -------- Net cash flow used in operating activities $ 666 $ (6,308) Purchases of property and equipment -- (5) Restructuring payments(1) 435 -- Nonrecurring license fees 85 -- ------- -------- Adjusted Free Cash Flow $ 1,186 $ (6,313) ======= ======== (1) Consists primarily of severance and workforce optimization payments resulting from a December 2023 reduction in force.
  

• CuriosityStream Reports Q1 2024 Earnings Results, from 4:05PM ET on Tuesday May 07, 2024 by Dow Jones

  4:05PM ET on Tuesday May 07, 2024 by Dow Jones
  Companies Mentioned: CURI
  Consolidated Statements of Cash Flows Three Months Ended March 31, -------------------------------------- (Unaudited and in thousands) 2024 2023 ------------------- ----------------- Cash flows from operating activities Net loss $ (5,035) $ (7,751) Adjustments to reconcile net loss to net cash used in operating activities Change in fair value of warrant liability 30 74 Additions to content assets (426) (3,723) Change in content liabilities (333) (1,206) Amortization of content assets 5,215 5,852 Depreciation and amortization expenses 117 127 Amortization of premiums and accretion of discounts associated with investments in debt securities, net -- 26 Stock-based compensation 689 1,267 Equity method investment loss 1,756 219 Other non-cash items 122 121 Changes in operating assets and liabilities Accounts receivable (116) 1,200 Other assets 502 944 Accounts payable (1,477) 1,440 Accrued expenses and other liabilities (419) (4,514) Deferred revenue 41 (384) ----------- ---------- Net cash used in operating activities 666 (6,308) ----------- ---------- Cash flows from investing activities Purchases of property and equipment -- (5) Maturities of investments in debt securities -- 15,000 ----------- ---------- Net cash provided by investing activities -- 14,995 ----------- ---------- Cash flows from financing activities Payments related to tax withholding (6) (26) ----------- ---------- Net cash used in financing activities (6) (26) ----------- ---------- Net increase in cash, cash equivalents and restricted cash 660 8,661 Cash, cash equivalents and restricted cash, beginning of period 38,215 40,507 ----------- ---------- Cash, cash equivalents and restricted cash, end of period $ 38,875 $ 49,168 =========== ========== Supplemental disclosure: Cash paid for taxes $ (2) $ -- Cash paid for operating leases $ 138 $ 134 CuriosityStream Inc. Reconciliation from Net Loss to Adjusted EBITDA Three Months Ended March 31, ------------------------- (Unaudited and in thousands) 2024 2023 --- ------- ------ Net loss $ (5,035) $(7,751) Change in fair value of warrant liability 30 74 Interest and other (income) expense (439) (388) Provision for Income taxes 34 58 Equity method investment loss 1,756 219 Depreciation and amortization(1) 117 127 Stock-based compensation 689 1,267 --- ------- ------ Adjusted EBITDA $ (2,848) $(6,394) === ======= ====== (1) These amounts do not include amortization of content assets. CuriosityStream Inc. Reconciliation from Net Cash Flow used in Operating Activities to Adjusted Free Cash Flow Three Months Ended March 31, ------------------------- (Unaudited and in thousands) 2024 2023 ------- -------- Net cash flow used in operating activities $ 666 $ (6,308) Purchases of property and equipment -- (5) Restructuring payments(1) 435 -- Nonrecurring license fees 85 -- ------- -------- Adjusted Free Cash Flow $ 1,186 $ (6,313) ======= ======== (1) Consists primarily of severance and workforce optimization payments resulting from a December 2023 reduction in force.