PART I—FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited financials show Gaia, Inc. with increased assets and revenues, a narrowed net loss, and higher cash from financing activities [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$147.0 million** by June 30, 2025, driven by a rise in cash and equity from a stock offering Condensed Consolidated Balance Sheets (in thousands) | | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | $23,492 | $15,742 | | **Total assets** | **$146,981** | **$141,217** | | **Total current liabilities** | $43,437 | $41,834 | | **Total liabilities** | **$48,390** | **$47,204** | | **Total equity** | **$98,591** | **$94,013** | | **Total liabilities and equity** | **$146,981** | **$141,217** | - Cash and cash equivalents increased significantly to **$13.9 million** as of June 30, 2025, from **$5.9 million** at the end of 2024[9](index=9&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Revenues grew **12.7%** in Q2 and **12.3%** in H1 2025, driven by member growth and ARPU, leading to improved gross margins Key Operating Results (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | **Revenues, net** | $24,632 | $21,856 | $48,472 | $43,169 | | **Gross profit** | $21,347 | $18,471 | $42,252 | $36,651 | | **Loss from operations** | $(2,196) | $(1,993) | $(3,210) | $(2,847) | | **Net loss attributable to common shareholders** | $(1,801) | $(2,193) | $(2,815) | $(3,238) | | **Diluted loss per share** | $(0.07) | $(0.09) | $(0.11) | $(0.14) | [Condensed Consolidated Statements of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity) Total equity increased to **$98.6 million** by June 30, 2025, primarily due to a **$7.0 million** common stock offering, despite net losses - In the first half of 2025, the company issued **1,600,000 shares** of common stock in a public offering, raising net proceeds of approximately **$7.0 million**[13](index=13&type=chunk)[32](index=32&type=chunk) - The accumulated deficit increased from **$(90.4) million** at the end of 2024 to **$(93.2) million** at June 30, 2025, due to net losses incurred during the period[13](index=13&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operations was **$3.6 million**, with a **$6.9 million** boost from financing, leading to an **$8.1 million** increase in cash Summary of Cash Flows (in thousands) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $3,582 | $3,855 | | **Net cash used in investing activities** | $(2,434) | $(12,520) | | **Net cash provided by financing activities** | $6,916 | $6,358 | | **Net change in cash and cash equivalents** | $8,064 | $(2,307) | | **Cash and cash equivalents, end of period** | $13,924 | $5,459 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail Gaia's global digital video subscription service, revenue policies, discontinuation of transactional courses, a **$7.0 million** stock offering, and its single reportable segment - The company operates a global digital video subscription service with over **10,000 titles**, with **90%** being exclusive content, organized into four primary channels[18](index=18&type=chunk)[19](index=19&type=chunk) - On March 7, 2025, the Board voted to discontinue its stand-alone business unit selling transactional courses, now presented as discontinued operations[23](index=23&type=chunk) - In February 2025, the company sold **1,600,000 shares** of Class A common stock, resulting in net proceeds of **$7.0 million**[32](index=32&type=chunk) - The company has one reportable segment, with the United States accounting for approximately **60%** of revenue for the six months ended June 30, 2025[47](index=47&type=chunk)[50](index=50&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) H1 2025 revenue grew **12.3%** from member growth and ARPU, improving gross margin and strengthening liquidity via a **$7.0 million** stock offering [Results of Operations](index=20&type=section&id=Results%20of%20Operations) Revenues grew **12.7%** in Q2 and **12.3%** in H1 2025, driven by member growth and ARPU, leading to improved gross margins Revenue and Gross Profit Comparison (in thousands) | Metric | Q2 2025 | Q2 2024 | % Change | Six Months 2025 | Six Months 2024 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenues, net** | $24,632 | $21,856 | 12.7% | $48,472 | $43,169 | 12.3% | | **Gross profit** | $21,347 | $18,471 | 15.6% | $42,252 | $36,651 | 15.3% | | **Gross profit margin** | 86.7% | 84.5% | +2.2pp | 87.2% | 84.9% | +2.3pp | - The increase in revenues for both the three and six-month periods was primarily driven by an increase in member count and improvements in Average Revenue Per User (ARPU) due to price increases[66](index=66&type=chunk)[71](index=71&type=chunk) - Selling and operating expenses increased by **11.4%** in Q2 and **13.4%** in H1 2025 compared to the prior year, primarily due to higher marketing expenses[69](index=69&type=chunk)[73](index=73&type=chunk) [Liquidity and Capital Resources](index=21&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity strengthened with a **$13.9 million** cash balance, supported by operating cash flow and a **$7.0 million** stock offering, with **$10.0 million** available credit - As of June 30, 2025, the company's cash balance was **$13.9 million**[78](index=78&type=chunk) - Budgeted content and capital expenditures for the remainder of 2025 are expected to be between **$11.0 million** and **$13.0 million**, to be funded with cash flows from operations[77](index=77&type=chunk) - In February 2025, the company raised net proceeds of **$7.0 million** from a Class A common stock offering[84](index=84&type=chunk) - The company has a revolving credit facility of up to **$10.0 million** with KeyBank, with no outstanding borrowings as of June 30, 2025[79](index=79&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Gaia, Inc. is exempt from providing market risk disclosures - The company is a smaller reporting company as defined in Rule 12b-2 of the Securities Exchange Act of 1934 and is not required to provide the information under this item[93](index=93&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of June 30, 2025, with no material changes to internal control over financial reporting - Based on an evaluation as of June 30, 2025, the CEO and CFO concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level[94](index=94&type=chunk) - No changes occurred in the company's internal control over financial reporting during the quarter ended June 30, 2025, that have materially affected, or are reasonably likely to materially affect, internal controls[95](index=95&type=chunk) PART II—OTHER INFORMATION [Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - None[97](index=97&type=chunk) [Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) Risk Factors are incorporated by reference from the Annual Report on Form 10-K for the year ended December 31, 2024 - The company incorporates by reference the Risk Factors included in its Annual Report on Form 10-K for the year ended December 31, 2024, filed on March 10, 2025[98](index=98&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=26&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities - None[99](index=99&type=chunk) [Defaults Upon Senior Securities](index=26&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[100](index=100&type=chunk) [Other Information](index=26&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during Q2 2025 - No director or officer adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" during the three months ended June 30, 2025[101](index=101&type=chunk) [Exhibits](index=27&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL data files - Exhibits filed include certifications from the Principal Executive Officer and Principal Financial Officer pursuant to SEC rules and the Sarbanes-Oxley Act, as well as Inline XBRL documents[103](index=103&type=chunk)

[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) [Report Announcement](index=1&type=section&id=Report%20Announcement) Gaia, Inc. announced its financial results for the second quarter ended June 30, 2025, on August 11, 2025 - Gaia, Inc. (NASDAQ: GAIA) reported financial results for Q2 ended June 30, 2025, on August 11, 2025[1](index=1&type=chunk)[2](index=2&type=chunk) [Key Business and Financial Highlights](index=1&type=section&id=Highlights) Gaia achieved positive free cash flow and double-digit growth for the sixth consecutive quarter, with revenue increasing 12% to $24.6 million and gross profit rising 16% to $21.3 million, while EPS improved to $(0.07) - Sixth consecutive quarter of **double-digit revenue and gross profit increases**[6](index=6&type=chunk) - Generated **positive operating and free cash flow**[5](index=5&type=chunk)[6](index=6&type=chunk) - Annualized gross profit per employee increased to **$814,000** from $695,000 in Q2 2024[3](index=3&type=chunk) - Subsidiary Igniton raised **$6 million** in private common equity financing in July, increasing its implied post-money valuation to **$106 million** from $40 million last year; Gaia now owns approximately **two-thirds** of Igniton equity[3](index=3&type=chunk)[6](index=6&type=chunk) Q2 2025 Key Financial Highlights (YoY) | Metric | Q2 2025 | Q2 2024 | Change | | :----- | :------ | :------ | :----- | | Revenue | $24.6M | $21.9M | +12% | | Gross Profit | $21.3M | $18.5M | +16% | | Gross Margin | 86.7% | 84.5% | +2.2 pp | | Net Loss per Share | $(0.07) | $(0.09) | +$0.02 | | Operating Cash Flow | $2.3M | N/A | N/A | | Free Cash Flow | $1.6M | N/A | N/A | [Company Overview](index=2&type=section&id=Company%20Overview) [About Gaia](index=2&type=section&id=About%20Gaia) Gaia is a member-supported global video streaming service offering conscious media across four channels in four languages to members in 185 countries, with a library of over 10,000 titles, predominantly exclusive and owned content - Gaia is a **member-supported global video streaming service and community**[8](index=8&type=chunk) - Offers conscious media through **four channels**: Seeking Truth, Transformation, Alternative Healing, and Yoga[8](index=8&type=chunk) - Content available in **four languages** (English, Spanish, French, German) to members in **185 countries**[8](index=8&type=chunk) - Library includes over **10,000 titles**, with over **88% exclusive** to Gaia and approximately **75% of viewership from owned content**[8](index=8&type=chunk) [Financial Performance for Second Quarter 2025](index=1&type=section&id=Financial%20Performance%20for%20Second%20Quarter%202025) [Summary of Q2 2025 Financial Results](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Results) Gaia reported a 12% increase in revenue to $24.6 million, driven by member growth, with gross profit rising 16% to $21.3 million, and net loss improving to $(1.8) million, while generating positive operating and free cash flow Q2 2025 Financial Performance Summary | Metric | Q2 2025 | Q2 2024 | YoY Change | | :----- | :------ | :------ | :--------- | | Revenue | $24.6M | $21.9M | +12% | | Gross Profit | $21.3M | $18.5M | +16% | | Gross Margin | 86.7% | 84.5% | +2.2 pp | | Net Loss | $(1.8)M | $(2.2)M | -$0.4M | | EPS | $(0.07) | $(0.09) | +$0.02 | | Operating Cash Flow | $2.3M | N/A | N/A | | Free Cash Flow | $1.6M | N/A | N/A | - Total members increased to **878,000**, contributing to revenue growth[4](index=4&type=chunk) - Cash balance stood at **$13.9 million** as of June 30, 2025, with a renewed **$10 million** line of credit with improved terms[5](index=5&type=chunk) [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, Gaia's total assets increased to $147.0 million from $141.2 million at December 31, 2024, primarily due to a significant increase in cash and cash equivalents, while total liabilities and equity also grew Selected Balance Sheet Data (in thousands) | Metric | June 30, 2025 | Dec 31, 2024 | Change | | :-------------------------- | :------------ | :----------- | :----- | | Cash and cash equivalents | $13,924 | $5,860 | +$8,064 | | Total current assets | $23,492 | $15,742 | +$7,750 | | Total assets | $146,981 | $141,217 | +$5,764 | | Total current liabilities | $43,437 | $41,834 | +$1,603 | | Total liabilities | $48,390 | $47,204 | +$1,186 | | Total equity | $98,591 | $94,013 | +$4,578 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2025, net revenues increased 12% year-over-year to $24.6 million, resulting in a 16% rise in gross profit to $21.3 million, and an improved net loss attributable to common shareholders of $(1.8) million Q2 2025 Statements of Operations (in thousands) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :------------------------------------ | :------ | :------ | :--------- | | Revenues, net | $24,632 | $21,856 | +$2,776 | | Cost of revenues | $3,285 | $3,385 | -$100 | | Gross profit | $21,347 | $18,471 | +$2,876 | | Total operating expenses | $23,543 | $20,464 | +$3,079 | | Loss from operations | $(2,196) | $(1,993) | -$203 | | Net loss attributable to common shareholders | $(1,801) | $(2,193) | +$392 | | Basic loss per share | $(0.07) | $(0.09) | +$0.02 | YTD June 30, 2025 Statements of Operations (in thousands) | Metric | YTD 2025 | YTD 2024 | YoY Change | | :------------------------------------ | :------- | :------- | :--------- | | Revenues, net | $48,472 | $43,169 | +$5,303 | | Gross profit | $42,252 | $36,651 | +$5,601 | | Net loss attributable to common shareholders | $(2,815) | $(3,238) | +$423 | | Basic loss per share | $(0.11) | $(0.14) | +$0.03 | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For Q2 2025, Gaia generated $2.3 million in net cash from operating activities, a significant improvement from the prior year, with overall cash, cash equivalents, and restricted cash increasing by $0.8 million Q2 2025 Statements of Cash Flows (in thousands) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :------------------------------------------ | :------ | :------ | :--------- | | Net cash provided by (used in) operating activities | $2,284 | $(2,081) | +$4,365 | | Net cash used in investing activities | $(1,404) | $(11,447) | +$10,043 | | Net cash provided by (used in) financing activities | $(46) | $6,388 | -$6,434 | | Net change in cash, cash equivalents, and restricted cash | $834 | $(7,140) | +$7,974 | YTD June 30, 2025 Statements of Cash Flows (in thousands) | Metric | YTD 2025 | YTD 2024 | YoY Change | | :------------------------------------------ | :------- | :------- | :--------- | | Net cash provided by (used in) operating activities | $3,582 | $3,855 | -$273 | | Net cash used in investing activities | $(2,434) | $(12,520) | +$10,086 | | Net cash provided by (used in) financing activities | $6,916 | $6,358 | +$558 | | Net change in cash, cash equivalents, and restricted cash | $8,064 | $(2,307) | +$10,371 | [Reconciliation of Free Cash Flow](index=6&type=section&id=Reconciliation%20of%20Net%20Cash%20Provided%20by%20Operating%20Activities%20to%20Free%20Cash%20Flow) Gaia reported a free cash flow of $1.6 million for Q2 2025, a significant increase from $0.7 million in Q2 2024, driven by positive operating cash flow and changes in non-core business activities Q2 2025 Free Cash Flow Reconciliation (in thousands) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :------------------------------------------ | :------ | :------ | :--------- | | Net cash provided by (used in) operating activities | $2,284 | $(2,081) | +$4,365 | | Cash paid for interest | $81 | $154 | -$73 | | Net cash used in investing activities | $(1,404) | $(11,447) | +$10,043 | | Change in cash from non-core business activities | $683 | $14,096 | -$13,413 | | Free cash flow | $1,644 | $722 | +$922 | YTD June 30, 2025 Free Cash Flow Reconciliation (in thousands) | Metric | YTD 2025 | YTD 2024 | YoY Change | | :------------------------------------------ | :------- | :------- | :--------- | | Net cash provided by (used in) operating activities | $3,582 | $3,855 | -$273 | | Cash paid for interest | $218 | $262 | -$44 | | Net cash used in investing activities | $(2,434) | $(12,520) | +$10,086 | | Change in cash from non-core business activities | $974 | $10,101 | -$9,127 | | Free cash flow | $2,340 | $1,698 | +$642 | [Additional Information](index=2&type=section&id=Additional%20Information) [Conference Call Information](index=2&type=section&id=Conference%20Call) Details for the conference call held on Monday, August 11, 2025, at 4:30 p.m. Eastern time, including dial-in numbers and replay information - Conference call held on **August 11, 2025, at 4:30 p.m. ET**[7](index=7&type=chunk) - Replay available until **August 25, 2025**[8](index=8&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This section contains cautionary statements regarding forward-looking information, highlighting that actual results may differ materially due to various risks and uncertainties detailed in SEC filings, and the company undertakes no obligation to update such information - Press release contains **forward-looking statements** subject to risks and uncertainties[9](index=9&type=chunk) - Actual results may differ materially from anticipated results due to factors like ability to attract/retain members, competition, service disruptions, and general economic conditions[9](index=9&type=chunk)[10](index=10&type=chunk) - Company undertakes **no obligation to update** forward-looking information[10](index=10&type=chunk) [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Measures) The report includes non-GAAP financial measures, specifically Free Cash Flow, defined as net cash from operating activities plus cash paid for interest, less cash used in investing activities, plus cash from non-core business activities, presented as a supplement to GAAP results for performance assessment - Financial information includes **non-GAAP measures**, such as Free Cash Flow[11](index=11&type=chunk) - Free Cash Flow is defined as net cash provided by operating activities plus cash paid for interest payments, less cash used in investing activities, plus cash from non-core business activities[11](index=11&type=chunk) - Non-GAAP measures should not be considered a substitute for GAAP results and are used by management and investors for assessing performance[11](index=11&type=chunk) [Contact Information](index=3&type=section&id=Company%20Contact) Provides contact details for Gaia's Chief Financial Officer, Ned Preston, and for Investor Relations through Gateway Group, Inc - Company contact: **Ned Preston, CFO, Investors@gaia.com**[12](index=12&type=chunk) - Investor Relations: **Cody Slach, Gateway Group, Inc., GAIA@gateway-grp.com, (949) 574-3860**[12](index=12&type=chunk)

Core Insights - Gaia, Inc. reported a 12% increase in revenue for Q2 2025, reaching $24.6 million, driven by growth in member count and average revenue per user [3][7] - The company achieved a gross profit of $21.3 million, a 16% increase from the previous year, with gross margin expanding to 86.7% [3][7] - Gaia's subsidiary, Igniton, raised $6 million in private equity financing, increasing its implied post-money valuation to $106 million [2][7] Financial Performance - Revenue for Q2 2025 was $24.6 million, up from $21.9 million in Q2 2024, reflecting a 12% growth [3][7] - Gross profit increased to $21.3 million from $18.5 million, marking a 16% rise [3][7] - The net loss narrowed to $(1.8) million, or $(0.07) per share, compared to $(2.2) million, or $(0.09) per share, in Q2 2024 [3][7] Cash Flow and Financial Position - Operating cash flow was $2.3 million, with free cash flow of $1.6 million, indicating ongoing operational discipline [4][16] - As of June 30, 2025, the cash balance stood at $13.9 million, with a fully available $10 million line of credit [4][12] - The company generated positive operating and free cash flow, reinforcing its disciplined approach to financial management [2][4] Member Growth and Engagement - Total membership increased to 878,000, contributing to revenue growth [3][7] - The annualized gross profit per employee rose to $814,000 from $695,000 in the prior-year quarter, reflecting improved operational efficiency [2][3] Strategic Initiatives - Continued investment in content, AI, and the global community platform is aimed at enhancing member value and connection [2][3] - The financing raised by Igniton will support product launch and capital expenditures for future growth [2][7]

Business Model & Target Market - Gaia is a premium SVOD channel focusing on niche content in Personal Growth & Transformation, Ancient Wisdom & Unexplained Mysteries, and Wellness, Yoga & Meditation[4, 5] - The core demographic is 65% female, aged 45-65, highly educated, with a household income of $75,000+[8] - Gaia's total addressable market is 26 million, with a subscriber target of 5 million[16, 17] Financial Performance & Efficiency - Gaia has strong unit economics with negative working capital[10] - The LTV-CAC efficiency ratio has grown from 2.8X in 2018 to 6.2X in 2024[11] - The company has a high gross margin of 86% and a cash contribution margin of 93%[12, 38] - Full year 2024 revenues were $90363000, with a gross profit of $78810000 and adjusted EBITDA of $15223000[38] - For the three months ended June 30, 2025, Free Cash Flow was $1644000[49] Growth & Expansion - International members currently account for 40% of the member base and are estimated to reach 50% within 3 years[29] - Gaia has international rights for 98% of its content library[29] - The company is expanding through initiatives like the Gaia Marketplace (Q3 2024) and Gaia Community (June 2026)[33, 34]

Core Viewpoint - Appia Rare Earths & Uranium Corp. has initiated Phase 1 of a new auger drilling campaign targeting the Gaia area within the PCH rare-earth element project in Brazil, aiming to evaluate its rare earth potential [1][2][3]. Group 1: Drilling Campaign Details - The company has acquired two auger drill rigs and plans to conduct a total of 241 holes, starting with the first 100 holes [1]. - The Gaia target was selected due to its geological and geophysical similarities to the previously successful Taygeta and Merope zones, which have shown high-grade ionic-adsorption clay mineralization [1][3]. - Drilling is scheduled to commence by August 1, 2025 [1]. Group 2: Geological Context - The PCH property features two distinct styles of critical rare earth element mineralization: Ionic Adsorption Clays (IAC) and high-grade carbonatitic breccia [4]. - The terrain is characterized by gently rolling hills and is conveniently located 15 minutes from a nearby mining town, facilitating infrastructure access [4]. Group 3: Economic Considerations - IAC mineralization is noted for its easier extraction process, resulting in significantly lower operating and capital costs due to the absence of blasting, crushing, and milling [5]. - The extraction process utilizes ammonium sulfate, a cost-effective fertilizer, which eliminates the need for tailings storage facilities [5]. Group 4: Market Demand - The PCH project contains significant amounts of heavy rare earths, which are increasingly in demand for permanent magnets used in electric vehicles and other clean energy applications [6].

Core Points - Gaia, Inc. will conduct a conference call on August 11, 2025, to discuss its financial results for Q2 2025 [1][2] - The conference call will include a question and answer period and will be accessible via a toll-free number [2] - A live broadcast of the conference call will be available, along with a replay option until August 25, 2025 [3] Company Overview - Gaia is the largest streaming and community platform focused on personal transformation, health, wellness, and spirituality [1] - The platform offers over 10,000 titles, with more than 88% being exclusive content, and approximately 75% of viewership comes from Gaia-produced or owned content [3] - Gaia operates in 185 countries and provides content in four languages: English, Spanish, French, and German [3]

Summary of Gaia Inc. Conference Call Company Overview - **Company**: Gaia Inc. (GAIA) - **Industry**: Streaming Video on Demand (SVOD) - **Business Model**: Focuses on underserved niches in personal growth, ancient wisdom, and wellness through a subscription-based streaming platform [7][9] Core Financial Highlights - **Subscription Pricing**: Monthly subscription at $13.99 and annual at $119, with a premium tier at $299 [7] - **Subscriber Growth**: - End of last year: 860,000 subscribers - Current: 867,000 subscribers - Target: 5,000,000 subscribers [12][31] - **Revenue Performance**: - FY 2024 revenue: just over $90 million, an 11% year-on-year increase [31] - Projected revenue for 2025: over $100 million, a 12% increase [32] - **Gross Margin**: Stable at 86% with a cash contribution margin over 93% [10][31] - **Customer Acquisition Cost (CAC)**: Remained steady over the past eight years, while Lifetime Value (LTV) has tripled [11] Unique Business Attributes - **Content Production**: - 88% of content is exclusive, produced on-site at a 150,000 square foot campus in Colorado [19] - Content efficiency multiple of 2x compared to Netflix [22] - **International Expansion**: - 98% of the library has international rights, with localization strategies in Spanish, German, and French [23] - Currently operating in 44 countries, aiming for over 50% international membership in three years [24] Growth Initiatives - **Marketplace Launch**: Introduced a marketplace for retreats and curated products, expected to enhance revenue streams [27] - **AI and Community Tech**: Developing a generative AI chatbot and community platform to enhance member engagement [29] - **Private Subsidiary Ignatant**: Anticipated to contribute significantly to revenue, with a recent successful pre-launch [30][42] Challenges and Responses - **Revenue Fluctuations**: Q1 revenue was lower than Q4 due to one-off items and external factors affecting marketplace initiatives [39][40] - **Tour Cancellations**: Travel advisories impacted tours in Egypt, but alternative tours in Peru are being expanded [40] - **Focus on High LTV Markets**: Targeting higher-value customers in regions like the US and DACH to stabilize growth [44][45] Future Outlook - **Free Cash Flow**: Expected to generate over $5 million in free cash flow in 2025, with potential to triple as revenue grows [33] - **Price Increases**: Scheduled for March 2026, following a successful price increase in Q4 2024 [15][28] - **Licensing Opportunities**: Exploring content licensing deals with hyperscalers, expected to contribute additional revenue streams by 2026 [48] Conclusion Gaia Inc. is positioned for growth in the SVOD market with a strong focus on niche content, efficient production, and innovative revenue streams. The company is actively addressing challenges while maintaining a positive outlook for future financial performance and subscriber growth.

Group 1 - Gaia, Inc. is set to join the Russell 2000 Index effective June 30, 2025, marking a significant milestone for the company [1][3] - The Russell US indexes reconstitution captures the 4,000 largest US stocks ranked by total market capitalization, with membership in the Russell 3000 Index leading to inclusion in either the Russell 1000 or Russell 2000 Index [2] - Approximately $10.6 trillion in assets are benchmarked against the Russell US indexes, indicating their importance among investment managers and institutional investors [3] Group 2 - Gaia operates a global video streaming service that produces and curates conscious media across four primary channels and offers content in four languages to members in 185 countries [5] - The company's library includes over 10,000 titles, with more than 88% being exclusive to Gaia, and approximately 75% of viewership comes from content produced or owned by the company [5]

Company Overview - Gaia, Inc. is a conscious media and community company that operates a global video streaming service, producing and curating content across four primary channels: Seeking Truth, Transformation, Alternative Healing, and Yoga [3] - The service is available in four languages (English, Spanish, French, and German) and serves members in 185 countries [3] - Gaia's library includes over 10,000 titles, with more than 88% being exclusive to the platform, and approximately 75% of viewership is generated by content produced or owned by Gaia [3] Upcoming Events - Gaia's management will participate in the iAccess Alpha Virtual Best Ideas Summer Investment Conference 2025 on June 24 and 25, 2025 [1] - CEO James Calhoun and CFO Ned Preston will deliver a company presentation on June 24, followed by one-on-one meetings with investors on June 25 [1][2] Investor Engagement - The iAccess Alpha conferences feature companies recommended by investors, including webcast presentations on Day 1 and one-on-one meetings on Day 2 [2] - Interested parties can register and schedule meetings with Gaia through the conference website [2]

Business Overview - Gaia is a premium SVOD channel focusing on niche content in personal growth, ancient wisdom, and wellness[3,4] - The core demographic is 65% female, aged 45-65, highly educated, with a household income of $75,000+[7] - Gaia targets a subscriber base of 5 million out of a total addressable market of 26 million[17] Financial Performance - In 2024, Gaia achieved revenues of $90363000 with a gross profit of $78810000, resulting in an 86% gross margin and a 93% cash contribution margin[37] - For the year 2024, the company reported positive free cash flow of $2737000, representing a 3% free cash flow margin[37] - The company's LTV-CAC efficiency ratio has grown from 28X in 2018 to 62X in 2024[10] Growth & Expansion - Gaia's international members currently stand at 44% and are estimated to reach 50% within 3 years[28] - The company possesses international rights for 98% of its content library[28] - Gaia's average revenue per member has increased from $933 in 2018 to $1074 in 2024[21]