CuriosityStream Inc.

Factors that could cause our actual results to differ materially from those in this Quarterly Report are any of the risks described in our Annual Report on Form 10-K filed with the SEC on March 12, 2026. Any of these factors could result in a significant or material adverse effect on our results of operations or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business or results of operations.

Except as set forth below, there have been no material changes from the risk factors previously disclosed under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the SEC on March 12, 2026.

We are subject to credit risk and counterparty concentration risk related to the license fee receivable from Curiosity Brands, LLC.

In June 2026, we entered into a 30-year content license agreement with Curiosity Brands, LLC, under which we recorded a licensing fee receivable payable in four annual installments of $2.5 million beginning in June 2027. Curiosity Brands, LLC is a newly formed entity with limited operating history and independent financial resources. Our ability to collect the scheduled annual installment payments is dependent on the financial condition, operational performance, and creditworthiness of Curiosity Brands, LLC over the four-year payment period.

If Curiosity Brands, LLC fails to satisfy its payment obligations, experiences liquidity difficulties, or becomes subject to insolvency proceedings, we may suffer credit losses, delays in collection, or impairment of the underlying receivable. Any such failure could adversely affect our business, financial condition, cash flows, and results of operations.