Gaia boosts sales, adds members
LOUISVILLE — Streaming video provider Gaia Inc. (Nasdaq: GAIA) posted a year-over-year sales increase of 11% in the second quarter of 2024 and grew its membership by about 10% compared with the same period last year.
Sales were $22.08 million in the most-recent period, up from $19.84 million in the second quarter of last year.
Gaia had 850,000 members as of June 30, 2024, up from 774,500 from June 30, 2023.
The company’s net losses also grew from $1.84 million in the second quarter of 2023 to $2.16 million in the most recent quarter.
SPONSORED CONTENT
“During the second quarter, which is our seasonally slowest, we grew revenue 11% and members 10% year over year, while delivering positive free cash flow. We expect the positive cash flow generation to continue with revenue growth increasing to about 15% in the fourth quarter,” Gaia executive chairman Jirka Rysavy said in a prepared statement. “In 2016 we invested $10 million and recently raised $12 million for our subsidiary Igniton from outside investors, a portion of which was used to acquire an exclusive worldwide license for the Igniton health technology. This technology uses concentrated quasi-particles transmitted by the sun to improve cognition, memory and longevity.”