Business
Gaia Reports Third Quarter 2021 Results
Revenues up 17% with 20% EBITDA Margin BOULDER, Colo., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ: GAIA), a conscious media and community company,
About this update from Gaia, Inc.
[{"type":"text","content":"Revenues up 17% with 20% EBITDA Margin\nBOULDER, Colo., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ: GAIA), a conscious media and community company, reported financial results for the third quarter ended September 30, 2021. Highlights 22% revenue growth year to dateQ3 EBITDA of $4.0 million, with EBITDA margin of 20%Fifth straight quarter of positive earnings and cash flow “The third quarter of 2021 marks another quarter of disciplined execution against our plan to generate net income and cash flows while driving revenue and member growth,” said Paul Tarell, Gaia’s CFO. “Now that we are consistently generating positive net income and cash flows from operations, we are focused on growing both average revenue per member and the overall member base. Early traction in our efforts to promote our $299 premium subscription tier to current and prospective members has been promising.” Third Quarter 2021 Financial Results Revenues increased 17% to $20.4 million from $17.5 million in the year-ago quarter. This was primarily due to growth in members and an increase in average revenue per member. Paying members increased to 790,500 as of September 30, 2021. Gross profit in the third quarter increased to $17.8 million compared to $15.3 million in the year-ago quarter. Gross margin was flat at 87.1%. Total operating expenses were $17.1 million or 84% of revenues compared to $14.9 million or 85% of revenues in the year-ago quarter. This reflects the stabilization of Gaia’s cost structure since turning profitable in the third quarter of 2020. EBITDA improved to $4.0 million, reflecting an EBITDA margin of 20%. Net income increased to $0.6 million or $0.03 per share compared to $0.2 million or $0.01 per share in the year ago quarter, excluding the $6.1 million gain on the sale of a portion of Gaia’s corporate campus in September 2020. Including the gain, net income in the third quarter of 2020 was $6.3 million or $0.32 per share. Cash flows from operations improved 55% to $5.1 million from $3.3 million in the year-ago quarter. Gaia’s cash balance as of September 30, 2021, was $14.4 million, an increase of $1.8 million since December 31, 2020. Year to Date 2021 Financial Results Revenues for the nine months ended September 30, 2021 increased 22% to $58.7 million from $48.2 million. Gross profit for the nine months ended September 30, 2021...