Gaia revenue jumps 16% in first quarter

LOUISVILLE — Revenue at Louisville-based Gaia Inc. (Nasdaq: GAIA) increased 16% during the first quarter, with the company narrowing its net loss compared with the first quarter of 2020.

The conscious-media company reported revenue of $14.5 million, compared with $12.5 million a year ago. The first-quarter net loss dropped to $3.6 million, or 19 cents per share, compared with $6.7 million, or 38 cents per share, in the first quarter of 2020.

Gaia generated positive adjusted EBITDA — earnings before interest, taxes, depreciation and amortization — of $4.1 million. The company also generated $2 million in cash flow from operations, an improvement of $4.7 million from a year ago.

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“For the second quarter in a row, we generated positive adjusted EBITDA and cash flow from operations,” Paul Tarell, Gaia’s chief financial officer, said in a prepared statement. “We remain on track to be free cash flow positive beginning in July, which has been further supported by an uptick in new member growth as a result of the stay-at-home orders that began in mid-March and have continued through April.”

Gaia’s revenue growth was attributed primarily to an increase in paying members, as well as an increase in average revenue per member. Paying members increased to 605,100 as of March 31, with the number increasing to 625,000 by April 27.

Gaia provides video-streaming services to subscribers in 185 countries, curating conscious media in four main channels: Seeking Truth, Transformation, Alternative Healing and Yoga.

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