Gaia Confirms Positive Earnings and Free Cash Flow on Plan for July 1
June 09 2020 - 1:15PM
Gaia, Inc. (NASDAQ: GAIA), a conscious media and community company,
is providing a business update given the easing of stay-at-home
orders that began in mid-March.
In its earnings release on April 27th, Gaia noted that the
unprecedented times brought on by COVID-19 were benefitting its
business. With stay-at-home orders relaxing and the gradual
reopening of the economy beginning, the company is providing an
update on the continued execution of its business plan,
including:
- Surpassed key member milestone that will support generating
positive earnings and cash flows beginning July 1st as
planned.
- Executed contract renewals with remaining third-party
distribution partners, reconfirming and solidifying the
relationship with each partner while providing revenue and cash
flow visibility.
- Expecting approximately 655,000 paying members as of June 30th,
representing a 50,000 net member increase for the quarter, ahead of
the company’s expectation.
“The momentum we saw in member additions in April continued
through May despite stay-at-home orders relaxing,” said Paul
Tarell, Gaia’s CFO. “With this momentum and continued discipline on
spend management, we have crossed the threshold needed to generate
earnings and cash flows in the third quarter as planned.”
Gaia plans to report its second quarter 2020 earnings results in
early August.
About Gaia
Gaia is a global video streaming service and community that
provides curated conscious media in four primary channels—Seeking
Truth, Transformation, Alternative Healing and Yoga—to its
subscribers in 185 countries with approximately 8,000 titles. Over
90% of its library is exclusive to Gaia, and approximately 80% of
the views are generated by content produced or owned by Gaia. For
more information about Gaia, visit www.gaia.com.
Forward-Looking Statements
This press release includes forward-looking statements relating
to matters that are not historical facts. Forward-looking
statements may be identified by the use of words such as “expect,”
“believe,” “will,” or comparable terminology or by discussions of
strategy. While Gaia believes its assumptions and expectations
underlying forward-looking statements are reasonable, there can be
no assurance that actual results will not be materially different.
Risks and uncertainties that could cause materially different
results include, among others, operating losses, general economic
conditions, competition, changing consumer preferences,
acquisitions, new initiatives we undertake, costs of acquiring new
subscribers, subscriber retention rates, and other risks and
uncertainties included in Gaia’s filings with the Securities and
Exchange Commission. Gaia assumes no duty to update any
forward-looking statements.
Contacts
Paul TarellGaia, Inc.(303) 222-3330Paul.Tarell@gaia.com
Cody SlachGateway Investor Relations(949)
574-3860GAIA@gatewayir.com
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