Why CuriosityStream Shares Are Rocketing Premarket Thursday
Portfolio Pulse from Lekha Gupta
CuriosityStream Inc. (NASDAQ:CURI) shares surged premarket after reporting Q4 FY23 results. Despite missing revenue expectations with $14.8 million against a $15.8 million consensus, the company saw a significant increase in gross profit to $6.7 million from $1.4 million a year ago. Expenses fell 32% Y/Y to $11.4 million, and the adjusted EBITDA loss improved to $(3.4) million from $(13.6) million. EPS loss of $(0.09) beat the $(0.15) consensus. The company declared its first quarterly cash dividend of $0.025 per share and expects Q1 revenue of $11.5 million-$12.5 million, below the consensus of $15.8 million, but anticipates positive adjusted free cash flow.
March 21, 2024 | 12:07 pm
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CuriosityStream reported Q4 FY23 results with increased gross profit, reduced expenses, and a positive EPS surprise. The company announced its first quarterly dividend and provided a cautious Q1 revenue outlook but expects positive adjusted free cash flow.
The premarket surge in CURI shares is likely due to the company's improved financial performance, including a significant increase in gross profit and a reduction in expenses. The announcement of the first quarterly dividend signals confidence in future cash flows, attracting investor interest. However, the cautious revenue outlook for Q1 may temper some of the enthusiasm.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100