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CuriosityStream (CURI) Q4 Net Loss Widens Y/Y, Revenues Rise
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CuriosityStream (CURI - Free Report) reported fourth-quarter 2020 net loss of $15.7 million compared with net loss of $14.6 million reported in the year-ago quarter.
Revenues of $11.4 million increased 69.8% on a year-over-year basis, primarily driven by continued strength in direct subscription revenues and contributions from program sales and sponsorships/advertising.
Notably, the Zacks Consensus Estimate for loss was pegged at 32 cents per share. The consensus mark for revenues was pegged at $11 million for the fourth quarter of 2020.
Markedly, the company began trading publicly following the business combination with Software Acquisition Group on Oct 15, 2020, becoming the first streaming media company devoted to factual entertainment to go public.
CuriosityStream features more than 3,000 titles including over 900 exclusive originals and has embarked on an original production and content acquisition plan that it projects will achieve a streaming library of more than 11,000 premium factual titles within five years.
CuriosityStream Inc. Price, Consensus and EPS Surprise
Paying subscribers grew 50% year over year to around 15 million attributed to continued strength in subscribers on annual plans and international subscribers.
During the quarter, the company entered an international distribution partnership with Tata Sky, (one of India’s largest content distribution and Pay TV platforms) and grew distributed subscribers though partnerships with Russian operators.
At the end of the fourth quarter of 2020, the company increased direct subscriber count by nearly 100% year over year and increased LTV by 48%, both while decreasing total overall marketing budget year over year.
In fourth-quarter 2020, gross profit rose 56.9% year over year to $6.7 million. Gross margin contracted 480 basis points (bps) to 58.9%.
While advertising and marketing declined 13.9% year over year to $13.3 million, general and administrative expenses soared 145.2% on a year-over-year basis to $8.9 million.
Operating loss was $15.6 million compared with loss of $14.9 million reported in the year-ago quarter.
Adjusted EBITDA loss was $15.9 million compared with adjusted EBITDA loss of $14.8 million reported in the year-ago quarter.
Balance Sheet
As of Dec 31, 2020 CuriosityStream had cash and investment balances of $42.4 million compared with $60 million as of Dec 31, 2019.
Guidance
For full-year 2021, the company expects revenues of $71 million, indicating growth of 80% year over year.
Zacks Rank & Stocks to Consider
Currently, CuriosityStream carries a Zacks Rank #3 (Hold).
Long-term earnings growth for Crocs, Nexstar Media Group and TEGNA is currently projected to be 15%, 10% and 10%, respectively.
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CuriosityStream (CURI) Q4 Net Loss Widens Y/Y, Revenues Rise
CuriosityStream (CURI - Free Report) reported fourth-quarter 2020 net loss of $15.7 million compared with net loss of $14.6 million reported in the year-ago quarter.
Revenues of $11.4 million increased 69.8% on a year-over-year basis, primarily driven by continued strength in direct subscription revenues and contributions from program sales and sponsorships/advertising.
Notably, the Zacks Consensus Estimate for loss was pegged at 32 cents per share. The consensus mark for revenues was pegged at $11 million for the fourth quarter of 2020.
Markedly, the company began trading publicly following the business combination with Software Acquisition Group on Oct 15, 2020, becoming the first streaming media company devoted to factual entertainment to go public.
CuriosityStream features more than 3,000 titles including over 900 exclusive originals and has embarked on an original production and content acquisition plan that it projects will achieve a streaming library of more than 11,000 premium factual titles within five years.
CuriosityStream Inc. Price, Consensus and EPS Surprise
CuriosityStream Inc. price-consensus-eps-surprise-chart | CuriosityStream Inc. Quote
Quarter Details
Paying subscribers grew 50% year over year to around 15 million attributed to continued strength in subscribers on annual plans and international subscribers.
During the quarter, the company entered an international distribution partnership with Tata Sky, (one of India’s largest content distribution and Pay TV platforms) and grew distributed subscribers though partnerships with Russian operators.
At the end of the fourth quarter of 2020, the company increased direct subscriber count by nearly 100% year over year and increased LTV by 48%, both while decreasing total overall marketing budget year over year.
In fourth-quarter 2020, gross profit rose 56.9% year over year to $6.7 million. Gross margin contracted 480 basis points (bps) to 58.9%.
While advertising and marketing declined 13.9% year over year to $13.3 million, general and administrative expenses soared 145.2% on a year-over-year basis to $8.9 million.
Operating loss was $15.6 million compared with loss of $14.9 million reported in the year-ago quarter.
Adjusted EBITDA loss was $15.9 million compared with adjusted EBITDA loss of $14.8 million reported in the year-ago quarter.
Balance Sheet
As of Dec 31, 2020 CuriosityStream had cash and investment balances of $42.4 million compared with $60 million as of Dec 31, 2019.
Guidance
For full-year 2021, the company expects revenues of $71 million, indicating growth of 80% year over year.
Zacks Rank & Stocks to Consider
Currently, CuriosityStream carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader consumer discretionary sector include Crocs, Inc. (CROX - Free Report) , Nexstar Media Group, Inc (NXST - Free Report) and TEGNA Inc. (TGNA - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for Crocs, Nexstar Media Group and TEGNA is currently projected to be 15%, 10% and 10%, respectively.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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