Business
CuriosityStream Announces Fourth Quarter and Full Year 2020 Financial Results
Fourth quarter 2020 revenue of $11.4 million, up 70% year-over-year; Full year revenue of $40 million, up 120% Subscribers grew 50% to approximately 15
About this update from Curiositystream Inc.
[{"type":"text","content":"\n\n Fourth quarter 2020 revenue of $11.4 million, up 70% year-over-year; Full year revenue of $40 million, up 120%\n\n\nSubscribers grew 50% to approximately 15 million at the end of the fourth quarter 2020, compared to approximately 10 million at the end of the fourth quarter 2019\n\n\nFull year 2020 gross margin remained consistent with 2019 gross margin at 61% compared to 62% for the full year 2019\n\n\n SILVER SPRING, Md.--(BUSINESS WIRE)--\nCuriosityStream Inc. (NASDAQ: CURI) (“CuriosityStream” or the “Company”), a global factual entertainment company, today announced its financial results for the fourth quarter and full year ended December 31, 2020.\n\n“We had a strong 2020, ending the year with more than double our 2019 revenue with approximately 15 million subscribers,” said Clint Stinchcomb, President & CEO. “More recently, we raised approximately $100 million in a follow-on offering completed in February of this year. We enter 2021 with a strong balance sheet, one of the largest libraries of factual content in the world and a world-class team of experienced media executives executing strongly against our plans. I couldn’t be prouder of what we accomplished in 2020, and I look forward to 2021.”\n\nFourth Quarter 2020 Financial Results\n\n\nRevenue of $11.4 million, up from $6.7 million in the fourth quarter of 2019;\n\n\nTotal paying subscribers of approximately 15 million, up 50% year-over-year;\n\n\nGross margin of 59% compared to 64% in the fourth quarter of 2019;\n\n\nNet loss was $(15.7) million compared to net loss of $(14.6) million in the fourth quarter of 2019; and\n\n\nEBITDA was $(15.5) million compared to EBITDA of $(14.8) million in the fourth quarter of 2019.\n\n\nFull Year 2020 Financial Results\n\n\nRevenue for the full year 2020 of $39.6 million, up from $18.0 million in 2019;\n\n\nGross margin for the full year 2020 at 61%, consistent with gross margin of 62% for the full year 2019;\n\n\nNet loss for the full year 2020 was $(38.6) million compared to net loss of $(42.5) million for the full year 2019;\n\n\nEBITDA for the full year 2020 was $(38.6) million compared to EBITDA of $(44.1) million for the full year of 2019; and\n\n\nEnding cash, cash equivalents, restricted cash and investments totaled $42.4 million as of December 31, 2020.\n\n\nFull Year 2020 Business Highlights\n\n\nAnnounced several bra...