false000177690912/3100017769092024-08-072024-08-070001776909curi:CommonStockParValue00001Member2024-08-072024-08-070001776909curi:WarrantsEachExercisableForOneShareOfCommonStockAtAnExercisePriceOf1150PerShare1Member2024-08-072024-08-07

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________________________________
FORM 8-K
_________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 7, 2024
_________________________________________
CURIOSITYSTREAM INC.
(Exact Name of Issuer as Specified in Charter)
_________________________________________
Delaware001-3913984-1797523
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
8484 Georgia Ave., Suite 700
Silver Spring, Maryland
(Address of principal executive offices)
20910
(Zip code)
(301) 755-2050
(Registrant’s telephone number, including area code)
_________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d- 2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of exchange
on which registered
Common Stock, par value $0.0001CURINASDAQ
Warrants, each exercisable for one share of Common stock at an exercise price of $11.50 per shareCURIWNASDAQ
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o


Item 2.02    Results of Operations and Financial Condition.
On August 13, 2024, CuriosityStream Inc. (the "Company" or "CuriosityStream") announced its financial results for the second quarter ended June 30, 2024, in a press release dated August 13, 2024 (the "Press Release"). The full text of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this “Current Report”) and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information furnished under Item 2.02 of this Current Report (including Exhibit 99.1) is deemed to be “furnished” and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall such information be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 5.03    Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On August 7, 2024, the Company filed with the Secretary of State of Delaware a Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation to provide for the exculpation of officers of the Company to the fullest extent permitted by law (the “Officer Exculpation Amendment”). The stockholders of the Company previously approved the Officer Exculpation Amendment at the 2024 annual meeting of stockholders held on June 5, 2024.
The above description of the Officer Exculpation Amendment is qualified in its entirety by reference to the full text of the Officer Exculpation Amendment, a copy of which is filed as Exhibit 3.1 to this Current Report and incorporated herein by reference.
Item 8.01 Other Events.
On August 13, 2024, the Company announced in the Press Release that the Company's Board of Directors approved that the Company declare a quarterly cash dividend of $0.025 per share of the Company's Common Stock payable on October 31, 2024, to stockholders of record on October 12, 2024.
Cautionary Statements Regarding Forward-Looking Information
Certain statements in this Current Report on Form 8-K may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, CuriosityStream’s expectations or predictions of future financial or business performance or conditions, plans to pay regular dividends, consumers’ valuation of factual content, and the Company’s continued success. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “predicts” or “intends” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed under “Risk Factors” in CuriosityStream’s Annual Report on Form 10-K for the year ended December 31, 2023, that we filed with the Securities and Exchange Commission (the “SEC”) on March 25, 2024, and in CuriosityStream’s other SEC filings. These risk factors are important to consider in determining future results and should be reviewed in their entirety. Forward-looking statements are based on the current belief of the management of CuriosityStream, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and CuriosityStream is not under any obligation, and expressly disclaims any obligation to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports that CuriosityStream has filed or will file from time to time with the SEC.
In addition to factors previously disclosed in CuriosityStream’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks related to CuriosityStream’s ability


to maintain and develop new and existing revenue-generating relationships and partnerships or to significantly increase CuriosityStream’s subscriber base and retain customers; (ii) the effects of pending and future legislation; (iii) risks of the internet, online commerce and media industry; (iv) the highly competitive nature of the internet, online commerce and media industry and CuriosityStream’s ability to compete therein; (v) litigation, complaints, and/or adverse publicity; and (vi) privacy and data protection laws, privacy or data breaches, or the loss of data.


Item 9.01           Financial Statement and Exhibits.
(d)Exhibits


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.
CURIOSITYSTREAM INC.
Date: August 13, 2024
/s/ Tia Cudahy
Tia Cudahy
Chief Operating Officer and General Counsel


Exhibit 3.1
CERTIFICATE OF AMENDMENT
TO THE
SECOND AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
OF
CURIOSITYSTREAM INC.

CuriosityStream Inc. (the “Corporation”), a corporation organized and existing under the General Corporation Law of the State of Delaware (the “DGCL”), hereby certifies as follows:
1.This Certificate of Amendment (the “Certificate of Amendment”) amends the provisions of the Corporation’s Second Amended and Restated Certificate of Incorporation filed with the Secretary of State of the State of Delaware on October 14, 2020 (the “Second Amended and Restated Certificate”).

2.Section 8.1 of the Second Amended and Restated Certificate is hereby amended to read in its entirety as follows:
Section 8.1 Limitation of Director and Officer Liability. To the fullest extent permitted by the DGCL, as the same exists or as may hereafter be amended, no director or officer of the Corporation shall have any personal liability to the Corporation or any of its stockholders for monetary damages for any breach of fiduciary duty as a director or officer, as the case may be. If the DGCL, or any other law of the State of Delaware, is amended hereafter to permit the further elimination or limitation of the liability of directors or officers, then the liability of a director or officer of the Corporation shall be eliminated or limited to the fullest extent permitted by the DGCL, as so amended, without further action by the Corporation. Any amendment, modification or repeal of the foregoing sentence shall not adversely affect any right or protection of a director or an office of the Corporation hereunder in respect of any act or omission occurring prior to the time of such amendment, modification or repeal.

3.This amendment was duly adopted in accordance with the provisions of Section 242 of the DGCL.

4.All other provisions of the Second Amended and Restated Certificate shall remain in full force and effect.

IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to be signed by Tia Cudahy, its Chief Operating Officer and General Counsel, this 7th day of August, 2024.




By: /s/ Tia Cudahy            
Name: Tia Cudahy
Title: Chief Operating Officer and General Counsel



Exhibit 99.1
curilogojpeg.jpg


CURIOSITYSTREAM REPORTS Q2 2024 EARNINGS RESULTS
▪Second Consecutive Quarter of Positive Net Cash from Operating Activities
▪Achieved Our Highest Quarterly Adjusted Free Cash Flow of $2.5 Million
▪Initiated Share Repurchase Program for up to $4 Million
▪Declared $0.025 Per Share Dividend
SILVER SPRING, Md. (August 13, 2024) – CuriosityStream Inc. (NASDAQ: CURI), a global factual entertainment company, today announced its financial results for the quarter ended June 30, 2024. In addition, the Company’s Board of Directors declared a quarterly cash dividend of $0.025 per share, payable on October 31, 2024, to stockholders of record on October 12, 2024.
"Curiosity delivered excellent results in the second quarter. We generated $2.5 million in adjusted free cash flow, our seventh consecutive quarter of improvement and more than a 100% increase over Q1 2024, while growing sequential revenue," said Clint Stinchcomb, President & CEO. "We increased our direct subscription revenue sequentially and year over year. We added several new traditional licensing partners as well as exciting and entirely new categories of licensing partners. In light of these accomplishments and our increased realization of operational efficiencies, we initiated our first ever share repurchase program. Looking forward, in addition to guiding to significant positive cash flow generation, we believe our dividend program which we are paying from surplus cash, our $40 million in cash and equivalents and no debt, and our extensive library underscore our positive trajectory for the remainder of 2024 and beyond."
Second Quarter 2024 Financial Results
•Revenue of $12.4 million, compared to $14.1 million in the second quarter of 2023;
•Gross profit of $6.4 million, compared to $4.2 million in the second quarter of 2023;
•Total advertising and marketing and general and administrative expenses of $8.9 million, compared to $12.2 million in the second quarter of 2023;
•Net loss of $2.0 million, compared to net loss of $9.6 million in the second quarter of 2023;
•Adjusted EBITDA loss of $1.0 million, compared to Adjusted EBITDA loss of $6.5 million in the second quarter of 2023;
•Net cash provided by operating activities of $2.9 million, compared to net cash used in operating activities of $10.6 million in the second quarter of 2023;
•Adjusted Free Cash Flow of $2.5 million, an improvement of $6.8 million from the second quarter of 2023;
•Cash and restricted cash balance of $39.6 million and no debt as of June 30, 2024.
Second Quarter 2024 Business Highlights
•Direct revenue increased by 17% year over year and 3% sequentially.
•Initiated first-ever share repurchase program, successfully repurchasing 22,001 shares. This move underscores our commitment to enhancing shareholder value and confidence in our business strategy.
•Teamed with Estrella MediaCo to launch the first three of a series of Spanish-language FAST channels, starting with Curiosity Español, Curiosity Animales, and Curiosity Motores on Samsung TV Plus.



•Launched a distribution partnership with Harbour Rights, a leading international distribution company based in Hong Kong, to bring Curiosity Stream's premium content to various platforms, including TV, VOD, and inflight entertainment, in multiple territories across Asia.
•Launched three new programming initiatives to further enhance content discoverability and promotion, including Earth Month, anchored by the premiere of the landmark original series The Sun; Jaws & Claws Week, anchored by the premiere of the three-part original series Tracker's Diary: Tigers of Nepal; and Summer Doc-busters, an epic celebration of some of Curiosity’s biggest hits, anchored by the premiere of the landmark 5-part original series Fateful Planet.
•Premiered other original series and specials across the full spectrum factual genres, including the two-part original series Taste: The Flavor of Life, the one-hour special A Day on the Reef, and the two-part original series Wings: World War Two in the Skies, timed to celebrate the 80th Anniversary of D-Day.
Financial Outlook
CuriosityStream expects the following for the third quarter of 2024:
•Revenue within the range of $12.0 - $14.0 million
•Adjusted Free Cash Flow1 within the range of $1.5 - $3.0 million
1 See Non-GAAP Financial Measures below.
Conference Call Information
CuriosityStream will host a Q&A conference call today to discuss the Company’s second quarter 2024 results at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). A live audio webcast of the call will be available on the CuriosityStream Investor Relations website at https://investors.curiositystream.com. Participants may also dial-in toll free at (888) 510-2008 or International at (646) 960-0306 and reference conference ID# 3957505. An audio replay of the conference call will be available for two weeks following the call on the CuriosityStream Investor Relations website at https://investors.curiositystream.com.
Forward-Looking Statements
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, CuriosityStream’s expectations or predictions of future financial or business performance or conditions, consumers’ valuation of factual content, and the Company’s continued success. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “predicts” or “intends” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed under “Risk Factors” in CuriosityStream’s Annual Report on Form 10-K for the year ended December 31, 2023, that CuriosityStream filed with the Securities and Exchange Commission (the “SEC”) on March 25, 2024, and in CuriosityStream’s other SEC filings. These risk factors are important to consider in determining future results and should be reviewed in their entirety.
Forward-looking statements are based on the current belief of the management of CuriosityStream, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and CuriosityStream is not under any obligation, and expressly disclaims any obligation to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports that CuriosityStream has filed or will file from time to time with the SEC.
In addition to factors previously disclosed in CuriosityStream’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks related to CuriosityStream’s ability



to maintain and develop new and existing revenue-generating relationships and partnerships or to significantly increase CuriosityStream's subscriber base and retain customers; (ii) the effects of pending and future legislation; (iii) risks of the internet, online commerce and media industry; (iv) the highly competitive nature of the internet, online commerce and media industry and CuriosityStream’s ability to compete therein; (v) litigation, complaints, and/or adverse publicity; and (vi) privacy and data protection laws, privacy or data breaches, or the loss of data.
Non-GAAP Financial Measures
To supplement our unaudited consolidated statement of operations, which is prepared in accordance with GAAP, we present Adjusted EBITDA and Adjusted Free Cash Flow in this press release. Our use of non-GAAP financial measures, such as Adjusted EBITDA and Adjusted Free Cash Flow, has limitations as an analytical tool, and these measures should not be considered in isolation or as a substitute for analysis of financial results as reported under GAAP.
The Company is not able to provide expectations of net cash generated from operating activities, the closest comparable GAAP measure to Adjusted Free Cash Flow (a non-GAAP measure), on a forward-looking basis. The Company is unable to predict without unreasonable costs and efforts the ultimate amounts of certain cash receipts and outlays because, in part, such items may have not yet occurred, are out of the Company’s control and/or cannot be reasonably predicted. These items are further described in the reconciliation tables and related descriptions below. Further, these items are uncertain, depend on various factors and could be material to the Company’s results computed in accordance with U.S. GAAP.
We use these non-GAAP financial measures in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including in the preparation of our annual operating budget, as a measure of our core operating results and the effectiveness of our business strategy, and in evaluating our financial performance. These measures provide consistency and comparability with past financial performance, facilitate period-to-period comparisons of core operating results, and also facilitate comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. In addition, Adjusted EBITDA and Adjusted Free Cash Flow are widely used by investors and securities analysts to measure a company’s operating performance. We exclude the following items from net income to calculate Adjusted EBITDA: interest and other income (expense), provision for income taxes, depreciation and non-content amortization, loss/(gain) on the change in fair value of our warrants, equity interests loss (gain), impairment of goodwill, intangible assets and content assets, restructuring charges and stock-based compensation. Adjusted Free Cash Flow is calculated as net cash flow used in operating activities less purchases of property and equipment, restructuring charges and nonrecurring license fees.
Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, (1) although depreciation and amortization expense are non-cash charges, the assets subject to depreciation and amortization may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; (2) Adjusted EBITDA does not reflect: (a) changes in, or cash requirements for, our working capital needs; or (b) tax payments that may represent a reduction in cash available to us; and (3) Adjusted Free Cash Flow does not reflect: (a) our cash flow available for discretionary payments; (b) our future contractual commitments (such as any debt service requirements or dividend payments); (c) funds available for investment or other discretionary uses; (d) certain capital expenditure requirements; or (e) the total increase or decrease in our cash balances for the stated period. The non-GAAP financial measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures. A reconciliation of these non-GAAP financial measures has been provided in the financial statements tables included in this press release and investors are encouraged to review the reconciliation.
About Curiosity Inc.
Curiosity Inc. is the entertainment brand for people who want to know more. The global media company is home to award-winning original and curated factual films, shows, and series covering science, nature, history, technology, society, and lifestyle. With millions of subscribers worldwide and thousands of titles, the company operates the flagship Curiosity Stream SVOD service, available in more than 175 countries worldwide; Curiosity Channel, the linear television channel available via global distribution partners; Curiosity University, featuring



talks from the best professors at the world's most renowned universities as well as courses, short and long-form videos, and podcasts; Curiosity Now, Curiosity Español, and other free, ad-supported channels; Curiosity Audio Network, with original content and podcasts; and Curiosity Studios, which oversees original programming. Curiosity Inc. is a wholly owned subsidiary of CuriosityStream Inc. (Nasdaq: CURI). For more information, visit CuriosityStream.com.
Contacts:
CuriosityStream Investor Relations
Vanessa Gillon
IR@CuriosityStream.com






CuriosityStream Inc.
Consolidated Balance Sheets
June 30,
2024		December 31,
2023
(in thousands, except par value)
(Unaudited)
Assets
Current assets
Cash and cash equivalents$39,519 $37,715 
Restricted cash125 500 
Accounts receivable, net4,606 4,760 
Other current assets1,385 2,315 
Total current assets45,635 45,290 
Investments in equity method investees4,446 6,354 
Property and equipment, net561 727 
Content assets, net36,736 44,943 
Operating lease right-of-use assets3,209 3,350 
Other assets290 358 
Total assets$90,877 $101,022 
Liabilities and stockholders’ equity
Current liabilities
Content liabilities$323 $407 
Accounts payable2,684 4,765 
Accrued expenses and other liabilities4,482 3,705 
Deferred revenue13,499 14,521 
Total current liabilities20,988 23,398 
Warrant liability74 44 
Non-current operating lease liabilities4,090 4,283 
Other liabilities901 651 
Total liabilities26,053 28,376 
Stockholders’ equity
Common stock, $0.0001 par value – 125,000 shares authorized as of June 30, 2024, and December 31, 2023; 53,767 shares issued as of June 30, 2024, including 22 treasury shares; 53,286 issued and outstanding as of December 31, 2023; 53,745 shares outstanding as of June 30, 2024.
5 5 
Treasury stock(26)— 
Additional paid-in capital364,582 362,636 
Accumulated other comprehensive loss— — 
Accumulated deficit(299,737)(289,995)
Total stockholders’ equity
64,824 72,646 
Total liabilities and stockholders’ equity
$90,877 $101,022 



CuriosityStream Inc.
Consolidated Statements of Operations
Three Months Ended
June 30, 2024		Six Months Ended
June 30,
(unaudited and in thousands except per share amounts)2024202320232022
Revenues$12,395 $14,097 $24,396 $26,484 
Operating expenses
Cost of revenues6,004 9,933 12,752 18,934 
Advertising and marketing2,981 4,203 6,086 7,318 
General and administrative5,959 7,980 11,761 16,039 
14,944 22,116 30,599 42,291 
Operating loss(2,549)(8,019)(6,203)(15,807)
Change in fair value of warrant liability— 184 (30)110 
Interest and other income725 437 1,164 825 
Equity method investment loss(152)(2,235)(1,908)(2,454)
Loss before income taxes(1,976)(9,633)(6,977)(17,326)
Provision for income taxes55 288 89 346 
Net loss$(2,031)$(9,921)$(7,066)$(17,672)
Net loss per share
Basic$(0.04)$(0.19)$(0.13)$(0.33)
Diluted$(0.04)$(0.19)$(0.13)$(0.33)
Weighted average number of common shares outstanding
Basic53,61353,00653,45552,978
Diluted53,61353,00653,45552,978



CuriosityStream Inc.
Consolidated Statements of Cash Flows
Six Months Ended June 30,
(unaudited and in thousands)20242023
Cash flows from operating activities
Net loss$(7,066)$(17,672)
Adjustments to reconcile net loss to net cash used in operating activities
Change in fair value of warrant liability30 (110)
Additions to content assets(1,693)(7,103)
Change in content liabilities(84)(1,112)
Amortization of content assets9,901 12,317 
Depreciation and amortization expenses210 249 
Amortization of premiums and accretion of discounts associated with investments in debt securities, net— 26 
Stock-based compensation2,014 2,689 
Equity method investment loss1,908 2,454 
Other non-cash items239 243 
Changes in operating assets and liabilities
Accounts receivable154 1,812 
Other assets954 1,464 
Accounts payable(1,697)(645)
Accrued expenses and other liabilities(858)(3,862)
Deferred revenue(1,156)(1,358)
Net cash provided by (used in) operating activities2,856 (10,608)
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
Repurchases of common stock(26)— 
Dividends paid(1,333)— 
Payments related to tax withholding(68)(57)
Net cash used in financing activities(1,427)(57)
Net increase in cash, cash equivalents and restricted cash1,429 4,330 
Cash, cash equivalents and restricted cash, beginning of period38,215 40,507 
Cash, cash equivalents and restricted cash, end of period$39,644 $44,837 
Supplemental disclosure:
Cash paid for taxes$50 $25 
Cash paid for operating leases$276 $269 



CuriosityStream Inc.
Reconciliation from Net Loss to Adjusted EBITDA
Three Months Ended
June 30,		Six Months Ended
June 30,
(unaudited and in thousands)2024202320242023
Net loss$(2,031)$(9,921)$(7,066)$(17,672)
Change in fair value of warrant liability— (184)30 (110)
Interest and other (income) expense(725)(437)(1,164)(825)
Provision for Income taxes55 288 89 346 
Equity method investment loss152 2,235 1,908 2,454 
Depreciation and amortization1
93 122 210 249 
Restructuring2
126 — 140 — 
Stock-based compensation1,325 1,422 2,014 2,689 
Adjusted EBITDA$(1,005)$(6,475)$(3,839)$(12,869)
1 These amounts do not include amortization of content assets.
2 Consists primarily of severance and workforce optimization expenses resulting from 2023 and 2024 reduction in force.



CuriosityStream Inc.
Reconciliation from Net Cash Flow used in Operating Activities to Adjusted Free Cash Flow
Three Months Ended
June 30,		Six Months Ended
June 30,
(unaudited and in thousands)2024202320242023
Net cash flow used in operating activities$2,190 $(4,300)$2,856 $(10,608)
Purchases of property and equipment— (5)— (5)
Restructuring payments1
247 — 682 — 
Nonrecurring license fees
25 — 110 — 
Adjusted Free Cash Flow$2,462 $(4,305)$3,648 $(10,613)
1 Consists primarily of severance and workforce optimization payments resulting from 2023 and 2024 reductions in force.

v3.24.2.u1
Document and Entity Information
Aug. 07, 2024
Document And Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Aug. 07, 2024
Entity Registrant Name CURIOSITYSTREAM INC.
Entity Incorporation State Country Code DE
Entity File Number 001-39139
Entity Tax Identification Number 84-1797523
Entity Address, Address Line One 8484 Georgia Ave.
Entity Address, Address Line Two Suite 700
Entity Address, City or Town Silver Spring
Entity Address, State or Province MD
Entity Address, Postal Zip Code 20910
City Area Code (301)
Local Phone Number 755-2050
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Entity Emerging Growth Company true
Entity Ex Transition Period false
Amendment Flag false
Entity Central Index Key 0001776909
Current Fiscal Year End Date --12-31
Common Stock Par Value 0.0001  
Document And Entity Information [Line Items]  
Security 12b Title Common Stock, par value $0.0001
Trading Symbol CURI
Security Exchange Name NASDAQ
Warrants Each Exercisable For One Share Of Common Stock At An Exercise Price Of 11.50 Per Share  
Document And Entity Information [Line Items]  
Security 12b Title Warrants, each exercisable for one share of Common stock at an exercise price of $11.50 per share
Trading Symbol CURIW
Security Exchange Name NASDAQ
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