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CuriosityStream Reports Stagnant Q3 Subscriber Growth, But It Still Beats Forecasts on Financials

Curiosity Stream Redbox
(Image credit: Curiosity Stream)

CuriosityStream reported what appeared to be stalled subscriber growth for the third quarter, describing the same 20 million customer count it touted back in August for Q2. 

But the "factual" streaming company beat analysts' consensus forecasts for Q3 revenue, reporting a 114% year-over-year uptick to $18.7 million. Revenue was also up sequentially more than 22% over Q2. 

Also read: CuriosityStream Adds Whopping 4 Million Subscribers in Q2 Following Deal with Germany's Spiegel TV

"The sequential improvement in [average revenue per user] was driven by a lower percentage of subscribers on promotional pricing plans," said CuriosityStream CEO Clint Stinchcomb during Tuesday's Q3 earnings call with equity analysts. 

Stinchcomb also said that CuriosityStream expects to meet or surpass full-year revenue guidance of $71 million. 

CuriosityStream's overall operating expenses were about $17.4 million compared with $12.1 million in the third quarter of 2020. Its Q3 EBITDA loss of $8 million compared to an EBITDA loss of $6.7 million last year.

Meanwhile, despite the stagnant customer growth in the third quarter, CuriosityStream's subscriber base is still 43% larger than it was a year ago.