[Executive Summary & Q1 2024 Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Q1%202024%20Highlights) This section provides an overview of Gaia, Inc.'s strong Q1 2024 performance, highlighting improved marketing efficiency, significant member growth, and positive cash flow achievements [Q1 2024 Performance Overview](index=1&type=section&id=Q1%202024%20Performance%20Overview) Gaia, Inc. reported strong Q1 2024 results, demonstrating improved marketing efficiency, significant member growth, and positive cash flow. The company saw a 10% decrease in customer acquisition costs, doubled net member additions, and achieved its fourth consecutive quarter of positive free cash flow - Customer acquisition costs decreased by **10%** in Q1 2024[2](index=2&type=chunk) - Net member addition **doubled to 33,000** in Q1 2024, up from 16,000 in Q4 2023, reaching a total of **839,000 members**[2](index=2&type=chunk) - Re-branded premium membership tier from Events+ to Gaia+, achieving the highest one-month increase in premium members since its launch in October 2019[2](index=2&type=chunk) - Deferred revenue on the balance sheet increased by **$2.0 million** during the quarter due to increased focus on direct-to-paid campaigns, annual memberships, and the new Gaia+ tier[2](index=2&type=chunk) Q1 2024 Key Financial & Operational Highlights (in thousands) | Metric | Q1 2024 | Q1 2023 | Change (YoY) | | :-------------------------------- | :---------- | :---------- | :----------- | | Revenues | $21,700 | $19,600 | +11% | | Operating Cash Flows | $5,900 | $700 | +$5,200 | | Free Cash Flow | $1,000 | $(600) | +$1,600 | | Net Loss | $(1,000) | $(1,300) | Improved | | Loss Per Share | $(0.05) | $(0.06) | Improved | | Member Count | 839,000 | 766,500 | +9% | | Gross Profit | $18,500 | $16,900 | +$1,600 | - Cash balance as of March 31, 2024, grew to **$8.6 million**, with an unused **$10 million** line of credit[4](index=4&type=chunk) - Achieved the highest single quarter of membership growth since Q1 2021[4](index=4&type=chunk) [Company Information](index=2&type=section&id=Company%20Information) This section details Gaia's mission, content offerings, investor communication channels, forward-looking statement disclaimers, non-GAAP measure definitions, and contact information [About Gaia](index=2&type=section&id=About%20Gaia) Gaia is a global, member-supported video streaming service and community specializing in conscious media. It offers a vast library of exclusive content across four primary channels in multiple languages to members in 185 countries, accessible on various platforms - Gaia is a member-supported global video streaming service and community[6](index=6&type=chunk) - Produces and curates conscious media through **four primary channels**: Seeking Truth, Transformation, Alternative Healing, and Yoga[6](index=6&type=chunk) - Content is available in **four languages** (English, Spanish, French, German) to members in **185 countries**[6](index=6&type=chunk) - Library includes over **10,000 titles**, with over **88% exclusive** to Gaia, and approximately **75% of viewership** from content produced or owned by Gaia[6](index=6&type=chunk) [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) This section provides the schedule and access information for Gaia's First Quarter 2024 financial results conference call and its subsequent telephonic replay - The conference call was held on Monday, May 6, 2024, at **4:30 p.m. Eastern time**[5](index=5&type=chunk) - Dial-in numbers: Toll-free **1-877-269-7751**, International **1-201-389-0908**, Conference ID: **13746134**[5](index=5&type=chunk) - A telephonic replay was available after **7:30 p.m. Eastern time** on the same day through May 27, 2024, with replay ID **13746134**[6](index=6&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This section serves as a cautionary statement, indicating that the press release contains forward-looking statements subject to various risks and uncertainties. Actual results may differ materially from projections due to factors outlined in SEC filings, and the company undertakes no obligation to update these statements - The press release contains forward-looking statements that involve risks and uncertainties[7](index=7&type=chunk) - Actual results could differ materially due to factors such as the ability to attract and retain members, competition, service disruptions, general economic conditions, and other risks detailed in SEC filings (e.g., Form 10-K)[7](index=7&type=chunk)[8](index=8&type=chunk) - The company undertakes no obligation to update any forward-looking information[8](index=8&type=chunk) [Non-GAAP Measures](index=3&type=section&id=Non-GAAP%20Measures) This section defines Free Cash Flow as a non-GAAP financial measure, explaining its calculation and its utility for management and investors in assessing performance. It also cautions that this measure should not be considered a substitute for GAAP results and may not be comparable to similarly titled measures from other companies - Free Cash Flow is a non-GAAP financial measure[9](index=9&type=chunk) - Free Cash Flow is calculated as net cash provided by operating activities, adjusted for interest payments, and less capital expenditures[9](index=9&type=chunk) - Non-GAAP measures are used by management and investors to assess performance but should not substitute GAAP results and may not be comparable to other companies' calculations[9](index=9&type=chunk) [Contact Information](index=3&type=section&id=Contact%20Information) This section provides the contact details for Gaia's Chief Financial Officer and its Investor Relations firm for inquiries - Company Contact: Ned Preston, Chief Financial Officer, Gaia, Inc. (Investors@gaia.com)[10](index=10&type=chunk) - Investor Relations: Gateway Group, Inc., Cody Slach (**(949) 574-3860**, GAIA@gateway-grp.com)[10](index=10&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) This section presents Gaia's condensed consolidated balance sheets, statements of operations, cash flows, and free cash flow reconciliation for the reported periods [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet shows an increase in total assets and liabilities from December 31, 2023, to March 31, 2024, driven by higher cash, restricted cash, and deferred revenue, while total equity slightly decreased Condensed Consolidated Balance Sheet Highlights (in thousands) | Item | March 31, 2024 | December 31, 2023 | Change | | :-------------------------------- | :------------- | :---------------- | :----- | | Total assets | $133,842 | $130,273 | +$3,569 | | Cash and cash equivalents | $8,599 | $7,766 | +$833 | | Restricted Cash | $4,000 | — | +$4,000 | | Total current assets | $21,460 | $16,083 | +$5,377 | | Deferred revenue | $17,815 | $15,861 | +$1,954 | | Total liabilities | $47,684 | $43,493 | +$4,191 | | Total equity | $86,158 | $86,780 | - $622 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q1 2024, Gaia reported an 11% increase in revenues year-over-year, leading to an improved net loss and loss per share, despite a slight decrease in gross margin. Operating expenses also increased Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Item | Q1 2024 | Q1 2023 | Change (YoY) | | :-------------------------------- | :---------- | :---------- | :----------- | | Revenues, net | $21,693 | $19,647 | +$2,046 (11%) | | Cost of revenues | $3,168 | $2,773 | +$395 | | Gross profit | $18,525 | $16,874 | +$1,651 | | Gross margin | 85.4% | 85.9% | -0.5 pp | | Total operating expenses | $19,388 | $17,896 | +$1,492 | | Loss from operations | $(863) | $(1,022) | Improved by $159 | | Net loss attributable to common shareholders | $(1,045) | $(1,306) | Improved by $261 | | Loss per share (Basic & Diluted) | $(0.05) | $(0.06) | Improved by $0.01 | [Condensed Consolidated Statement of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) Gaia experienced a significant improvement in net cash provided by operating activities in Q1 2024 compared to the prior year, contributing to a positive net change in cash, cash equivalents, and restricted cash Condensed Consolidated Statement of Cash Flows Highlights (in thousands) | Item | Q1 2024 | Q1 2023 | Change (YoY) | | :-------------------------------- | :---------- | :---------- | :----------- | | Net cash provided by operating activities | $5,936 | $686 | +$5,250 | | Net cash used in investing activities | $(1,073) | $(1,418) | Improved by $345 | | Net cash (used in) provided by financing activities | $(30) | $18 | -$48 | | Net change in cash, cash equivalents, and restricted cash | $4,833 | $(714) | +$5,547 | [Free Cash Flow Reconciliation](index=7&type=section&id=Free%20Cash%20Flow%20Reconciliation) The reconciliation demonstrates Gaia's positive Free Cash Flow of $971 thousand in Q1 2024, a substantial improvement from a negative Free Cash Flow in the prior year, reflecting strong operational cash generation despite an increase in restricted cash Free Cash Flow Reconciliation (in thousands) | Item | Q1 2024 | Q1 2023 | | :-------------------------------- | :---------- | :---------- | | Net cash provided by operating activities | $5,936 | $686 | | Cash paid for interest | $108 | $125 | | Net cash used in investing activities | $(1,073) | $(1,418) | | Restricted cash | $(4,000) | — | | **Free Cash Flow** | **$971** | **$(607)** |

BOULDER, Colo., April 25, 2024 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ:GAIA), a conscious media and community company, announced that the second season of its highly-anticipated original series The Journey of Remembering is now available exclusively on Gaia. The premiere of this eight-episode series includes the first three episodes, with new episodes released each Monday at 2:00 a.m. MT. In season two of this exclusive Gaia Original docuseries, Matías De Stefano guides 45 initiates on a challenging journey ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 000-27517 GAIA, INC. (Exact name of Registrant as specified in its Charter) Colorado 84-1113527 (State or other jurisdiction of incorpora ...

Exibit 99.1 Gaia Reports Fourth Quarter 2023 Results BOULDER, CO, March 27, 2024 — Gaia, Inc. (NASDAQ: GAIA), a conscious media and community company, reported financial results for the fourth quarter and full year ended December 31, 2023. "We continue to build on Gaia's increasing momentum. The member count grew to 806,000 at the end of the year and we expect to finish the first quarter of 2024 at about 838,000, a good milestone toward our 15% revenue growth target for 2024", said Jirka Rysavy, Gaia's Chai ...

BOULDER, Colo., March 18, 2024 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ:GAIA), a conscious media and community company, today announced the launch of Gaia+ an evolution of Gaia's premium membership tier, creating the world's most extensive streaming platform for transformation, spiritual growth and consciousness expansion. Available across mobile and connected TV devices, Gaia+ not only provides members access to immersive workshops and live events, but also includes guided programs featuring the foremost exp ...

United States Securities and Exchange Commission Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-27517 GAIA, INC. (Exact name of registrant as specified in its charter) COLORADO 84-1113527 (State or other jurisdiction of incorpora ...

[PART I—FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Gaia, Inc.'s unaudited interim condensed consolidated financial statements for Q2 and H1 2023, reporting a net loss for both periods [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2023, Gaia's total assets slightly decreased to $137.6 million, with liabilities increasing and shareholders' equity decreasing Condensed Consolidated Balance Sheets (in thousands) | Account | June 30, 2023 (unaudited) | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $17,229 | $17,173 | | **Total assets** | **$137,633** | **$138,303** | | **Total current liabilities** | $28,771 | $27,373 | | **Total liabilities** | **$50,256** | **$49,319** | | **Total shareholders' equity** | **$87,377** | **$88,984** | | **Total liabilities and shareholders' equity** | **$137,633** | **$138,303** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Revenues decreased for both Q2 and H1 2023, resulting in net losses of $1.7 million and $2.9 million respectively, reversing prior year net income Q2 2023 vs Q2 2022 Performance (in thousands, except per share data) | Metric | Q2 2023 (unaudited) | Q2 2022 | | :--- | :--- | :--- | | Revenues, net | $19,839 | $20,720 | | Gross profit | $17,000 | $17,961 | | Income (loss) from operations | $(1,605) | $298 | | Net income (loss) | $(1,718) | $116 | | Diluted EPS | $(0.08) | $0.00 | H1 2023 vs H1 2022 Performance (in thousands, except per share data) | Metric | H1 2023 (unaudited) | H1 2022 | | :--- | :--- | :--- | | Revenues, net | $39,486 | $42,551 | | Gross profit | $33,874 | $36,887 | | Income (loss) from operations | $(2,627) | $605 | | Net income (loss) | $(2,861) | $202 | | Diluted EPS | $(0.14) | $0.01 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $6.5 million for H1 2023, with net cash used in investing activities decreasing, and the period ending cash balance at $10.9 million Cash Flow Summary for the Six Months Ended June 30 (in thousands) | Activity | 2023 (unaudited) | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $6,480 | $6,395 | | Net cash used in investing activities | $(7,119) | $(10,419) | | Net cash used in financing activities | $(44) | $(50) | | **Net change in cash** | **$(683)** | **$(4,074)** | | **Cash at end of period** | **$10,879** | **$6,195** | [Notes to interim condensed consolidated financial statements](index=8&type=section&id=Notes%20to%20interim%20condensed%20consolidated%20financial%20statements) The notes detail Gaia's global digital video subscription service, its debt structure including a mortgage and credit facility, and a $2.0 million SEC settlement - Gaia operates a global digital video subscription service with over **10,000 titles**, of which **88% are exclusive**[19](index=19&type=chunk)[20](index=20&type=chunk) - The company has a mortgage loan maturing in 2025 and a revolving credit facility of up to **$10.0 million** with KeyBank, under which **$9.0 million** was drawn as of March 31, 2023[31](index=31&type=chunk)[32](index=32&type=chunk) - On May 23, 2023, Gaia settled an SEC investigation related to misstating subscriber numbers in 2019 and whistleblower protection issues, agreeing to pay a **$2.0 million** civil penalty over one year[45](index=45&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=13&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the 7.3% revenue decline in H1 2023 due to post-COVID subscriber contraction, while expecting continued positive cash flow and budgeting $6.0 to $8.0 million for expenditures [Results of Operations](index=14&type=section&id=Results%20of%20Operations) Q2 2023 revenue decreased 4.3% to $19.8 million and H1 2023 revenue decreased 7.3% to $39.5 million due to post-COVID subscriber contraction, with increased selling expenses - Q2 2023 revenue decreased **4.3%** to **$19.8 million**, and H1 2023 revenue decreased **7.3%** to **$39.5 million**, primarily due to post-COVID subscriber contraction in the second half of 2022[58](index=58&type=chunk)[62](index=62&type=chunk) - Selling and operating expenses increased **7.5%** in Q2 2023, driven by higher marketing spend[60](index=60&type=chunk) - Gross profit margin decreased to **85.7%** in Q2 2023 from **86.7%** in Q2 2022, due to increased content amortization from investment in original content[59](index=59&type=chunk) [Liquidity and Capital Resources](index=16&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2023, Gaia had a cash balance of $10.9 million, generated $6.5 million in cash from operations, and expects to remain cash flow positive with sufficient resources - The company generated **$6.5 million** in cash from operations during the first six months of 2023 and ended the period with a cash balance of **$10.9 million**[68](index=68&type=chunk) - Budgeted content and capital expenditures for the remainder of 2023 are expected to be between **$6.0 million** and **$8.0 million**, funded by cash from operations[68](index=68&type=chunk) - As of June 30, 2023, **$9.0 million** was drawn under the company's **$10.0 million** revolving credit facility with KeyBank[69](index=69&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=17&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Gaia, Inc. is not required to provide quantitative and qualitative disclosures about market risk - As a smaller reporting company, Gaia is not required to provide quantitative and qualitative disclosures about market risk[74](index=74&type=chunk) [Item 4. Controls and Procedures](index=17&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2023, with no material changes to internal control - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2023[75](index=75&type=chunk) - No material changes were made to the internal control over financial reporting during the quarter ended June 30, 2023[76](index=76&type=chunk) [PART II—OTHER INFORMATION](index=18&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=18&type=section&id=Item%201.%20Legal%20Proceedings) This section details the settlement of an SEC investigation where Gaia agreed to pay a $2.0 million civil penalty for misstating subscriber numbers and whistleblower protection failures - Gaia settled an SEC investigation concerning a 2019 misstatement of paying subscriber numbers and whistleblower protection requirement failures[78](index=78&type=chunk) - As part of the settlement, Gaia consented to a cease-and-desist order and is required to pay a total civil monetary penalty of **$2.0 million** over a one-year period[78](index=78&type=chunk) [Item 1A. Risk Factors](index=18&type=section&id=Item%201A.%20Risk%20Factors) The company incorporates by reference the Risk Factors section from its Annual Report on Form 10-K for the year ended December 31, 2022 - Risk factors are incorporated by reference from the company's Annual Report on Form 10-K for the year ended December 31, 2022[79](index=79&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=18&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) On June 26, 2023, Gaia issued 272,980 shares of Class A Common Stock upon conversion of a $701,558 convertible note for intellectual property acquisition - The company issued **272,980 shares** of Class A Common Stock to acquire intellectual property and content assets from Food Matters Institute LTD[80](index=80&type=chunk) - The shares were issued upon conversion of a **$701,558** convertible note, in a transaction exempt from registration[80](index=80&type=chunk)[81](index=81&type=chunk) [Other Items](index=18&type=section&id=Other%20Items) This section covers standard reporting items, including no defaults on senior securities, non-applicability of mine safety disclosures, and a list of filed exhibits - Item 3: No defaults upon senior securities were reported[82](index=82&type=chunk) - Item 4: Mine safety disclosures are not applicable[83](index=83&type=chunk) - Item 6: A list of exhibits filed with the 10-Q is provided, including officer certifications and XBRL data files[86](index=86&type=chunk) [SIGNATURES](index=20&type=section&id=SIGNATURES) [Signatures](index=20&type=section&id=Signatures) The report was duly signed and authorized on July 31, 2023, by the Chief Executive Officer and Chief Financial Officer - The Form 10-Q was signed on July 31, 2023, by the company's CEO and CFO[90](index=90&type=chunk)

Gaia, Inc. (NASDAQ:GAIA) Q1 2023 Earnings Call Transcript May 1, 2023 4:30 PM ET Company Participants Jirka Rysavy - Founder and Chairman Paul Tarell - Office of President and Chief Financial Officer Conference Call Participants Mark Argento - Lake Street Capital Thierry Wuilloud - Water Tower Research Operator Good afternoon, everyone. And thank you for participating in today's conference call to discuss Gaia Inc.’s Financial Results for the First Quarter Ended March 31, 2023. Joining us today are Gaia's C ...

For the transition period from to United States Securities and Exchange Commission Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 000-27517 GAIA, INC. (Exact name of registrant as specified in its charter) COLORADO 84-1113527 (State or other jurisdiction of incorporation ...

Financial Data and Key Metrics Changes - Revenues increased by 30% for the year, with fourth quarter revenues reaching $19.6 million [18] - Gross margins improved to 86.7% in the fourth quarter from 85.8% in the same quarter last year, remaining consistent for the full year [18] - The company reported a net loss of $0.9 million or $0.04 per share in the fourth quarter, compared to a net income of $2.1 million or $0.11 per share in the prior year [50] - Total member acquisition costs for the quarter were $7.7 million, representing 40% of revenues, a slight increase from $8.2 million or 39% of revenues in the year-ago quarter [32] Business Line Data and Key Metrics Changes - Direct member acquisition costs decreased by approximately 10% year-over-year, contributing to growth in the direct member base during the fourth quarter [32] - The company experienced net member base contraction in larger third-party distribution partners, leading to an overall decline in the member base during the quarter [32] - The company plans to launch the Gaia Marketplace by the end of the second quarter of 2023, aiming to increase average revenue per user (ARPU) [38] Market Data and Key Metrics Changes - The company has seen positive developments in the French and German markets, with lower acquisition costs and churn rates compared to English-speaking markets [11] - The company is in discussions with Amazon for potential launches in South America, New Zealand, and Australia, which could contribute to growth [27] Company Strategy and Development Direction - The company is focused on achieving financial independence and creating growth drivers for sustained revenue and cash flow growth [3] - The strategy includes reducing costs by eliminating inefficiencies and headcount, with an expected benefit from these measures beginning in the second quarter of 2023 [26] - The company aims to maintain direct members at over 80% of the business, emphasizing the profitability and stickiness of direct subscriptions compared to third-party partnerships [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about member growth in 2023, particularly from direct memberships, despite challenges with third-party providers [49] - The company anticipates generating $7 million to $9 million in new cash during 2023, focusing on increasing ARPU rather than solely relying on new customer acquisition [33][52] - Management noted that the ongoing legal fees related to a proposed SEC settlement are expected to no longer be a headwind on earnings [50] Other Important Information - The company has no net debt and the replacement value of its content library exceeds $300 million [33] - The cash balance as of December 31 was $11.6 million, with expectations for cash generation in 2023 [33] Q&A Session Summary Question: What are the anticipated subscriber growth numbers for the $7 million to $9 million in cash generation for 2023? - Management indicated a focus on increasing ARPU from the existing member base rather than solely on new customer acquisition, with expectations to exceed pre-COVID member levels [52][53] Question: How does the company plan to maintain its direct member percentage? - Management confirmed that direct members currently represent over 80% of the business and emphasized the importance of keeping third-party members below 20% for profitability [39][41]