Gaia turns around losses in second quarter

LOUISVILLE — Streaming video provider Gaia Inc. (Nasdaq: GAIA) turned a loss of more than $2.5 million in the second quarter of 2020 into a slight profit during the same period this year.

The company, which specializes in lifestyle videos on topics such as yoga, posted net income of $643,000 on sales of $19.4 million during the quarter that ended June 30, up from revenues of $16.1 million during the second quarter of 2020. 

“The second quarter of 2021 represented another solid quarter of execution on our plan to generate net income and cash flows while driving revenue and member growth,” Gaia chief financial officer Paul Tarell said in a statement accompanying the company’s quarterly report. “We are looking forward to the second half of the year, when our event lineup at GaiaSphere will be in full swing, which will allow us to promote our $299 premium subscription tier to current and prospective members.”

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GaiaSphere is a new meeting and events space at the company’s Louisville headquarters. 

The company had 770,200 subscribers as of June 30, up from 625,000 on April 27.

Gaia’s stock price closed trading Tuesday at $11.16, down 7.54%.

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