CRTDOTCAir Transportation, NonscheduledUS GAAP · USD

Creatd, Inc.

Creatd, Inc. is a U.S.-based diversified operating company with businesses spanning digital media, publishing, consumer products, memberships, advertising, licensing, and aviation-related activities. Its portfolio model uses shared infrastructure to commercialize first-party data, intellectual property, creator content, and other scalable creative assets.

Revenue4.8m USD
+11.6 %y/y
Operating profit (EBIT)-29.0m USD
+13.0 %y/y
EBIT margin-605.3%
+170.8 ppy/y
Net income-32.3m USD
+13.4 %y/y
Free cash flow-17.0m USD
+17.4 %y/y

Fiscal year 2022 · change from previous year

Development 2018–2022

-40-30-20-10010m USD2018: 0.08 m USD2018: EBIT -5.7 m USD20182019: 0.45 m USD2019: EBIT -7.2 m USD20192020: 1.2 m USD2020: EBIT -16 m USD20202021: 4.3 m USD2021: EBIT -33 m USD20212022: 4.8 m USD2022: EBIT -29 m USD20224.8-29
RevenueOperating profit (EBIT)

Business

Share of revenue
Subscriptions and memberships25 %

Recurring-access products and memberships offered through the company's media and creator platforms.

Advertising and agency services20 %

Advertising placements and agency services connecting brands with audiences and creators.

Consumer products20 %

Direct-to-consumer goods sold through Creatd's portfolio companies and commerce channels.

Publishing and licensing15 %

Publishing activities and licensing of content, brands, and other intellectual property.

Creator platform monetization15 %

Content, engagement, and monetization features serving creators and their audiences.

Aviation-related activities5 %

Aviation operations, investments, and related portfolio activities, including Fly Flyte exposure.

Customers

Creatd serves consumers, digital subscribers, creators, advertisers, brand partners, and licensing counterparties across its portfolio. Consumers purchase products or memberships, while creators use platform and monetization tools to reach audiences and earn from engagement. Advertisers and agencies purchase audience access, promotional services, and campaign execution, while business partners may license content or intellectual property.

Consumers and subscribers

Purchase portfolio products and subscription access to media, publishing, and creator content.

Creators

Use Vocal-related tools and monetization features to distribute content and earn from engagement.

Advertisers and agencies

Buy advertising inventory, audience access, and promotional or agency services.

Brands and licensing partners

Use Creatd content, brands, and intellectual property for commercial and promotional purposes.

Aviation customers and counterparties

Purchase or support aviation-related services and investment activities within the portfolio.

Strategy

Creatd's strategy is to operate a diversified portfolio around media, publishing, consumer products, and aviation while monetizing first-party data, intellectual property, and creative assets. The company seeks to combine subscriptions, advertising, licensing, direct sales, and strategic investments so that multiple revenue models can be developed from shared infrastructure. Portfolio integration and disciplined execution are important because the businesses have different customer dynamics and operating requirements.

Monetize first-party data and intellectual propertyMedium term

Owned data, brands, and content can support multiple revenue streams across the portfolio.

Build engagement across digital platformsShort term

User retention and engagement directly influence subscriptions, advertising, and creator monetization.

Manage and integrate a diversified portfolioMedium term

Shared infrastructure may create operating leverage, but different businesses require coordinated execution.

Geography

Creatd is headquartered and incorporated in the United States, and the available filings describe its portfolio and reporting structure primarily through U.S. operations. Its digital media, publishing, consumer, and creator activities can serve users and customers through internet-based channels, while aviation activities are tied to specific operating and investment entities. The filings do not provide a country-level revenue breakdown.

Risks

Creatd operates a development-stage, diversified portfolio with limited operating history in parts of its current business and substantial dependence on attracting users, creators, advertisers, and customers. Competition, changing technology, brand or relationship deterioration, acquisition integration, and dependence on key personnel can weaken engagement and revenue generation. Financial reporting complexity, derivative valuations, liquidity needs, and exposure to legal or regulatory requirements for internet platforms add further risk.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Development-stage operating model1User and creator retention2Competitive technology environment3Acquisition and portfolio integration4Financial reporting and valuation complexity5Internet platform legal compliance6
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Development-stage operating modelImpact: CriticalLikelihood: High

    Limited operating history and continuing losses increase execution and funding risk.

    Exposure: Portfolio businesses and consolidated operations

  2. User and creator retentionImpact: HighLikelihood: Medium

    Lower engagement can reduce subscriptions, advertising demand, and creator monetization.

    Exposure: Digital media and Vocal-related platforms

  3. Competitive technology environmentImpact: HighLikelihood: Medium

    Established companies and startups may offer better products or user experiences.

    ExposureMediaPublishingAdvertisingCreator platforms
  4. Acquisition and portfolio integrationImpact: HighLikelihood: Low

    Integration failures may prevent expected benefits and cause goodwill or intangible impairment.

    Exposure: Acquired businesses and strategic transactions

  5. Financial reporting and valuation complexityImpact: HighLikelihood: Low

    Derivative remeasurement and corrected prior-period errors can increase earnings volatility and investor concern.

    ExposureConvertible notesWarrantsEquity reporting
  6. Internet platform legal complianceImpact: MediumLikelihood: Medium

    Open access and age-verification limitations can create regulatory and legal exposure.

    Exposure: Online network and creator services

Accounting

Judgemental items
ASC 606 revenue recognition

Revenue timing depends on contracts, performance obligations, subscriber consideration, and transfer of control.

Impact: Affects subscription, agency, product, and platform revenue comparability.

Vocal Wallet liability estimates

Expected creator withdrawals are estimated using historical payout rates and platform contingencies.

Impact: Changes affect cost of revenue and liabilities; a 2026 estimate revision reduced the liability.

Convertible-note and warrant derivatives

Bifurcated conversion and make-whole features are remeasured using a Monte Carlo model.

Impact: Fair-value changes can materially increase or reduce reported earnings.

Impairment and valuation estimates

Management estimates impairment of intellectual property, goodwill, and other acquired assets.

Impact: Changes can produce large non-cash charges and affect asset values.

Financial reporting controls

Previously issued interim equity information required correction for stock and noncontrolling-interest presentation.

Impact: May affect confidence in reporting processes and period comparability.

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026