CuriosityStream slides on bleak H1 revenue forecast

CuriosityStream

25/03/2022 11:39

** Shares of video streaming co  CURI.O  fall 9% to $3.33
premarket 
    ** Co expects revenue in the first half of 2022 to be
between $36 mln and $40 mln, while Wall Street expects it to be
$48.8 mln - Refinitiv Data
    ** Stock fell over 11% after-hours on Thursday after co
reported Q4 results
    ** CEO Clint Stinchcomb says co will introduce new
subscription plan pricing later this year, "to better align the
value we bring to our subscribers"  urn:newsml:reuters.com:*:nBw2BFYnNa
    ** However, Q4 revenue tops estimate; total paying
subscribers grew 50% to ~23 mln in 2021, co says    
    ** CURI's locked-in contracts deserve a higher valuation
multiple (our view), because its revenue streams have lower
risks and are essentially recurring revenue streams, Needham
analysts say, but trims PT by $1 based on tepid guidance
    ** Current avg. rating of 8 analysts on stock is "buy";
their median PT is $7.25 
    ** Stock was down 38.3% YTD, as of last close vs Nasdaq's
 .IXIC  9.3% fall

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.Mathews@thomsonreuters.com;))