Gaia’s top, bottom lines improved in third quarter

LOUISVILLE — Streaming video provider Gaia Inc. (Nasdaq: GAIA) grew its year-over-year sales and reduced its net losses, while growing its user base in the third quarter of 2023. 

Gaia’s revenues for the third quarter of 2023 were $20.2 million, up from $19.9 million in the same period last year.

The company’s net loss shrunk to $600,000 in the most recent period, from a net loss of $2.4 million in the third quarter of 2022.

The company had 790,500 members as of September 30, 2023, up from 776,000 members at the end of the third quarter of 2022.

“The initiatives implemented over the past nine months to attract and retain our members have continued in the third quarter,” Gaia chief financial officer Ned Preston said in a prepared statement. “We continue to focus on growing revenues in a cost-effective manner, while also generating cash flows from operations in excess of our reinvestment in content and other capex.  The member growth doubled compared to the second quarter and we expect the member growth to further increase during 2024.”

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2023 BizWest Media LLC.

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