CuriosityStream Reports 13% Revenue Growth in Third Quarter of 2026

The Tip Desk · November 12, 2026 · 3 min read

Third-quarter revenue was $20.7 million, up 13% from a year earlier, as the company forecast full-year 2026 revenue of $79 million to $82 million.

CuriosityStream Inc. (CURI), a global factual entertainment company, reported third-quarter revenue of $20.7 million, up 13% from $18.4 million in the third quarter of 2025, and forecast full-year 2026 revenue of $79 million to $82 million and Adjusted EBITDA of $20 million to $22 million.

Licensing revenue was $11.7 million. Adjusted EBITDA was $5.0 million, up 67% from $3.0 million a year earlier, the seventh consecutive quarter of positive Adjusted EBITDA. Net income was $4.8 million, an improvement of $8.6 million from a net loss of $3.7 million in the third quarter of 2025, or $0.08 a share. The result included a $0.9 million non-cash gain on remeasurement of the company’s previously held interest in the Spiegel Venture.

The sequential step-down from the second quarter was the other fact in the print. Revenue had been $23.2 million in the second quarter of 2026, up 22% from $19.0 million a year earlier. Licensing had been $14.1 million then. Adjusted EBITDA had been a record $11.4 million, and net income a record $8.9 million. Gross margin compressed to 48.8% from 72.8% in the second quarter. Gross profit was $10.1 million. The company said the decline from $10.8 million and a 58.7% margin in the year-ago third quarter reflected higher revenue share expense on AI licensing revenue.

Operating expenses decreased by $5.8 million, or 25%, compared with the third quarter of 2025. President and Chief Executive Officer Clint Stinchcomb said the relationship illustrated the company’s potential to generate earnings growth as it expands revenue without a corresponding increase in its fixed cost structure, and that net income improved by $8.6 million, leading to earnings per share roughly equivalent to the dividend payment.

The company launched Curiosity Stream with Prime Video in Canada, expanding its Prime Video presence to five major English-speaking markets: the U.S., U.K., Canada, Australia and New Zealand. It licensed thousands of hours of scripted entertainment. It acquired the remaining 68% interest in the Spiegel Venture, its German documentary channel business, for $1.9 million in cash, increasing ownership to 100%. Sean Piche, CPA, was appointed chief financial officer effective September 1, 2026.

For the nine months ended September 30, 2026, net cash provided by operating activities was $1.5 million, compared with $9.1 million for the nine months ended September 30, 2025. The company paid an ordinary dividend of $0.085 a share, totaling $5.1 million in the quarter. As of September 30, 2026, cash, restricted cash and held-to-maturity securities totaled $10.0 million. The company had no debt, and its $10.0 million revolving credit facility remained undrawn.

The board declared a fourth-quarter cash dividend of $0.085 a share, payable December 15, 2026, to stockholders of record on December 3, 2026.

CuriosityStream now expects full-year 2026 revenue in the range of $79 million to $82 million and Adjusted EBITDA in the range of $20 million to $22 million. Stinchcomb said the company’s intellectual property, including premium video, audio and a growing corpus of proprietary operational data, continues to create opportunities as demand for rights-controlled content and data expands across traditional media and artificial intelligence, and that the focus is on converting those opportunities into durable commercial relationships and recurring revenue.