Reports Continued Member Growth in a Seasonally Weak Quarter
Gaia reported sequential revenue growth and increased member count during its seasonally weakest quarter. Revenues were $19.8 million versus $20.7 million in 2Q22, but up sequentially. Member count was up 8,000 to 774,500. Net income per share was negative $0.08 but the company continues to generate substantial cash flows from operations, namely $3.3 million in the quarter and $6.5 million in the first half of the year. Gross profit per employee grew to more than $610,000, demonstrating strong operating efficiency. This was helped by the first-quarter cost improvement initiatives, which eliminated some cost layers that had built up during COVID. Non-English member count continues to grow and management described good momentum in the French and German language markets in particular, spurred by attractive member acquisition costs. Management is proceeding cautiously with Gaia Marketplace, but this initiative will contribute to continued ARPU growth. ARPUs have grown steadily from $7.95 in 2019 to $8.75 in 2022 and should show further growth in 2023. The company is seeing good member growth momentum and has a new growth vector with Gaia Marketplace. We see attractive operating leverage as the membership continues to grow. The valuation is at historical lows despite these more favorable fundamentals.Spirit Bear Capital is a capital pool company. The principal business of Co. is the identification and evaluation of assets or a business and, once identified or evaluated, to negotiate an acquisition or participation in a business subject to receipt of shareholder approval, if required, and acceptance by regulatory authorities.
Water Tower Research is built on the foundation of democratizing information flow. We bridge the growing information gap between companies and investors through our investor engagement strategies and open-access research platform.
Our research analysts are Wall Street veterans with the experience and knowledge to work with companies and investors in tandem. We provide access to the information and content that anchors the due diligence process for both professional money managers and individual investors. We leverage traditional research distribution channels and the best of modern digital strategies and tactics to amplify this information flow globally to engage all categories of investors and stakeholders.
Information flow is the foundation for creating investor awareness, knowledge, and engagement. Our mission is to help companies and investors have the tools they need and achieve their goals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.