Business
Gaia Reports Second Quarter 2022 Results
Eighth Consecutive Quarter of Positive Earnings and EBITDA BOULDER, Colo., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ: GAIA), a conscious media and
About this update from Gaia, Inc.
[{"type":"text","content":"Eighth Consecutive Quarter of Positive Earnings and EBITDA\nBOULDER, Colo., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ: GAIA), a conscious media and community company, reported financial results for the second quarter ended June 30, 2022. Highlights Established technology independence and began operating on Gaia owned hardwareEighth consecutive quarter of positive earnings and EBITDA, with Q2 EBITDA margins over 20% “The spring marked a return to the seasonal patterns we have historically seen in our new member acquisition trends,” said Paul Tarell, Gaia’s CFO. “This resulted in less quarterly member additions since the pandemic began in March of 2020. Despite this shift we continued our financial discipline by delivering strong EBITDA margins while maintaining profitability. With the completion of our 18-month project to enable technology independence and ongoing financial discipline we remain well-positioned to achieve the long-term vision of our company.” First Quarter 2022 Financial Results Revenues increased 7% to $20.7 million from $19.4 million in the year-ago quarter, with an ending member count of 792,000 as of June 30, 2022, compared to 770,200 as of June 30, 2021. Gross profit in the second quarter increased to $18.0 million compared to $16.9 million in the year-ago quarter. Gross margin decreased slightly to 86.7% from 87.1% in the year ago quarter primarily as a result of increased content amortization. Total operating expenses were $17.7 million or 85% of revenues compared to $16.2 million or 84% of revenues in the year-ago quarter. EBITDA improved to $4.2 million compared to $3.9 million in the year ago quarter, with EBITDA margin over 20%. Net income from continuing operations was $0.1 million or $0.01 per share compared to $0.6 million or $0.03 per share in the year ago quarter. The slight decline reflects the incremental intangible asset amortization and operating expenses related to the integration of Yoga International, an acquisition that was completed at the end of December 2021. Cash flows from operations was $2.5 million for the second quarter. Gaia’s cash balance as of June 30, 2022, was $6.2 million. Conference Call Date: Monday, August 1, 2022Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)Toll-free dial-in number: 1-888-220-8451International dial-in number: 1-323-794-2588Conference ID:...