Shares of the streaming service Curiosity soared after the earnings report. Is it too late to buy them?

Shares of CuriosityStream, a streaming service specializing in documentaries and popular science films, soared nearly 16% in premarket trading on November 12. The company reported quarterly results that exceeded analysts’ forecasts and raised its full-year guidance. Wall Street is unanimously recommending buying the company’s stock and sees growth potential of nearly 130%.

CuriosityStream shares rose by about 15% during morning trading on November 12—at the time this news was published, they were trading at $2.74.

Last night, the company reported that, for the third quarter, its revenue increased 13% year-over-year to $20.7 million, and net income was $4.8 million, compared with a loss of $3.6 million for the same period in 2025. Both figures exceeded Wall Street’s consensus estimates, according to calculations by the Zacks analytical system.

Licensing agreements accounted for the majority (57%) of the company’s total revenue—$11.7 million— a 35% increase compared to the same period in 2025, CuriosityStream CFO Sean Pische said during a conference call with analysts (as reported by MarketBeat).

"Almost all of it came from AI model developers," said CEO Clint Stinchcomb. The company grants them rights to the content for training AI models.

In 2025, this line of business became a lifeline for the struggling company. Operating fairly quietly, CuriosityStream may have sparked a revolution in the video industry: it licenses its intellectual property to operators of large language models (LLMs) for training artificial intelligence, StreamTV Insider reported. The company sells rights not only to its own content but also to that of its partners.

In total, according to Stinchcomb, the company holds the rights to more than 3.4 million hours of content and also incorporates code and other operational data into its offerings. According to Sean Pische, the company pays its partners up to 50% or more of the revenue it generates.

The quarterly results allowed the company to raise its revenue guidance for the full year 2026 from $77–82 million to $79–82 million, and its adjusted EBITDA guidance from $18–22 million to $20–22 million.

Since the beginning of the year, CuriosityStream’s stock price has fallen by nearly 38%. However, Wall Street believes in the company’s potential: all four analysts covering the company recommend buying its stock. The average target price of $5.38 implies 127% upside potential relative to the stock’s closing price on November 11.