Curiositystream (CURI) investor relations material

Executive summary

• Achieved record Q2 2026 financial performance with net income of $8.9 million, up over 1,033% year-over-year, and adjusted EBITDA of $11.4 million, up 276% year-over-year, driven by strong licensing growth and disciplined cost management.

• Revenue reached $23.2 million, up 22% year-over-year, led by a 48% increase in licensing revenue and stable or slightly declining subscription revenue.

• Disposed of non-core brands and entered a 30-year, $10 million content license agreement, focusing on core streaming and AI content licensing.

• Completed acquisition of the remaining 68% of Spiegel Venture, consolidating its results from July 2026.

• Continued capital returns to shareholders via share repurchases and a $0.085 per share dividend.

Financial highlights

• Q2 2026 revenue was $23.2 million, a 22% increase year-over-year, with licensing revenue up 48% to $14.1 million and subscription revenue flat or down 5%.

• Net income reached a record $8.9 million, up from $0.8 million in Q2 2025.

• Adjusted EBITDA was $11.4 million, up approximately 276%–300% year-over-year.

• Gross margin improved to 72.8%–73% from 53%–53.4% in the prior year quarter.

• Operating expenses fell 24% year-over-year, with cost of revenues down 29% and advertising/marketing down 42%.

Outlook and guidance

• Full year 2026 revenue expected to be $77 million–$82 million; H2 revenue guidance is $38 million–$41 million.

• Full year adjusted EBITDA projected at $18 million–$22 million; H2 adjusted EBITDA guidance is $6 million–$10 million.

• Year-end cash and investments expected between $17 million and $22 million.

• Plans to maintain quarterly cash dividends, with $0.085/share declared for September 2026.

• Management expects continued focus on AI content/data licensing and operational efficiency.