Gaia, Inc. — Third Quarter 2026 Earnings Summary

Gaia, Inc. reported third-quarter 2026 revenue of $22.0 million, a 12% decrease from the prior year period, driven by a strategic shift to reduce reliance on lower-value third-party subscribers. The company posted a net loss of $3.0 million for the quarter, while maintaining a gross margin of 85.2% and a cash balance of $7.1 million as of September 30, 2026. Management indicated that revenue has stabilized at a quarterly run rate of approximately $21.0 million following a reset initiated in March to prioritize direct member quality and reduce discounting. Additionally, the firm expects to return to positive free cash flow in the fourth quarter, resuming a trend of nine consecutive quarters of positive free cash flow previously achieved.