Gaia’s stock price skyrockets after positive revenue report

LOUISVILLE — Gaia Inc. (Nasdaq: GAIA), a Louisville-based yoga-focused streaming video service, saw its stock price climb nearly 25 percent in early trading Tuesday after the company posted higher than anticipated revenues for the third quarter of fiscal year 2019. 

As of 10 a.m. Tuesday, Gaia’s stock price was hovering around $9.

Revenues jumped 25 percent to $13.7 million in the most recent quarter from $10.9 million in the same period in 2018, according to Gaia’s earnings report filed late Monday.

SPONSORED CONTENT

Federal District Court Rules Corporate Transparency Act Unconstitutional . . . But Most Small Businesses Must Still Comply

Lyons Gaddis Real Estate and Business Attorney Cameron Grant shares important details of the Corporate Transparency Act (CTA).

Gaia attributes much of that improvement to a 16 percent increase in subscribers since September 2018. The company had 595,000 at the end of the third quarter of 2019. 

“Member referrals have been a significant focus of our member-driven growth initiatives,” Gaia chief financial officer Paul Tarrell said in a conference call with investors and analysts. “So I’m excited to announce that we recently released new sharing tools we have been testing over the past year to the entire member base.”

Gaia has yet to turn the corner to profitability, but it is getting close. The company posted net losses of $0.23 per share, outperforming the Zacks Consensus Estimate of a $0.27 loss. 

The company expects to report a profitable quarter in Q4, Gaia CEO Jirka Rysavy said.