“We are thrilled to announce that we exceeded our revenue target for the second year in a row, exceeding $71 million in 2021 as our investments in content, people, and technology continued to bear fruit,” said Clint Stinchcomb, President & CEO. “Over the past year, we have more than doubled the size of our content library, and our 2022 content slate promises to be our biggest and best yet. Later this year, we plan to better align the value we bring to our subscribers with new subscription plan pricing. As a mission-driven company, we are relentlessly focused on satisfying humanity’s enduring curiosity about our world. Looking ahead to the remainder of 2022 and beyond, we are excited to fulfill our mission by delivering premium factual content that informs, enchants, and inspires.”

Fourth Quarter 2021 Financial Results

• Revenue of $27.3 million, up from $11.4 million in the fourth quarter of 2020;
• Gross profit of $10.0 million compared to $6.7 million in the fourth quarter of 2020;
• Net loss of $(11.4) million compared to net loss of $(25.8) million in the fourth quarter of 2020; and
• EBITDA of $(17.8) million compared to EBITDA of $(15.5) million in the fourth quarter of 2020.

Full Year 2021 Financial Results

• Revenue for the full year of $71.3 million, up from $39.6 million for the full year 2020;
• Total paying subscribers of approximately 23 million, up over 50% year-over-year;
• Gross profit of $34.6 million for the full year 2021 compared to $24.2 million for the full year 2020;
• Net loss of $(37.6) million for the full year 2021 compared to net loss of $(48.6) million for the full year 2020; and
• EBITDA of $(51.9) million for the full year 2021 compared to $(38.5) million for the full year 2020.

Full Year 2021 Business Highlights

• Generated over $10 million of content licensing revenue during the fourth quarter, compared to less than $6 million of content licensing revenue for the full year 2020;
• Premiered original, high-profile documentaries such as DOUG TO THE RESCUE, RESCUED CHIMPANZEES OF THE CONGO WITH JANE GOODALL, new seasons of BUTTERFLY EFFECT and 4TH AND FOREVER, and new episodes of FASTER, BREAKTHROUGH, and our acclaimed feature-doc HEVAL; and an 8-part series SECRETS OF THE SOLAR SYSTEM (nominated for an Emmy award in the category of Outstanding Science and Technology Documentary for the Mars episode);
• Entered into an enhanced strategic partnership with and investment into Nebula, the world’s largest creator-owned streaming and technology platform with over 450,000 paying subscribers and 140+ active creators who have over 120 million combined YouTube subscribers;
• Partnered with SPIEGEL TV to accelerate international expansion, establish Curiosity Channel, and localize SVOD service in German-speaking Europe; and
• Expanded factual content proposition through the acquisitions of One Day University and Learn25.

Financial Outlook

For the first half of 2022, CuriosityStream expects the following:

• Revenue between $36 – $40 million, representing 50% year-over-year growth at the midpoint
• EBITDA between $(36) – $(34) million