Subscription surge boosts Gaia’s 3Q revenue

LOUISVILLE — Gaia Inc. (Nasdaq: GAIA), a video streaming service and online community geared toward lifestyle content, saw revenue climb 27 percent in the third quarter thanks to a huge boost in paid subscribers.

Louisville-based Gaia in its third-quarter earnings report Thursday afternoon posted third-quarter revenue of $4.5 million, up from $3.5 million for the quarter a year earlier. That was due largely to 35 percent growth in streaming revenue and a 46 percent uptick in paid subscriptions.

Gaia posted GAAP net income of $100.4 million. But that figure included income from discontinued operations. Gaia during the third quarter completed the sale of its branded consumer products business.

The company posted a net loss from continuing operations of $151,000, or 1 cent per share. That’s compared to a loss from continuing operations of $660,000, or 3 cents per share, in last year’s third quarter.

“Our results for the third quarter were ahead of our expectations,” Gaia chairman and CEO Jirka Rysavy said in a news release. “We expect to build on this momentum during the fourth quarter and reach about 200,000 paid subscribers by the end of the year.”