Gaia stock hits 52-week high as video streamer adds users

LOUISVILLE — Streaming video provider Gaia Inc. (Nasdaq: GAIA) watched its stock price reach $6, a 52-week high, during early trading Tuesday as the company reported increased sales and users in the third quarter of fiscal 2024.

The third quarter “marks another successful quarter of free cash flow generation while maintaining double-digit growth, reinforcing our position as a leader in conscious media. We’re especially encouraged by the positive momentum and early success of our recent price adjustments, which are setting a solid foundation for accelerated growth heading into Q4 and 2025,” Gaia CEO James Colquhoun said in a prepared statement. 

Quarterly sales were $22.2 million, up 10% from the third quarter last year, while Gaia’s member count grew 7% to 846,000 over that period. 

The company’s net loss was $1.2 million in the most-recent quarter, compared with a net loss of $800,000 in the third quarter of 2023.

“Over the last few months we raised, for the first time in our history, our subscription prices for all members by at least two dollars,” Gaia chairman Jirka Rysavy said in a statement. “While the initial losses from the price increase kept our member count flat, we expect that the price increases will push our revenue to almost $24 million during the fourth quarter, up from $22.2 million currently.”

As of 12:55 p.m. on Tuesday, Gaia’s stock price was $5.90, up nearly 8% on the day. 

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