10-Q · May 4, 2026
Gaia, Inc. reported a revenue of $24.3 million for Q1 2026, reflecting a slight increase of 2% from $23.8 million in Q1 2025. The company incurred a net loss of $1.4 million, compared to a loss of $1.2 million in the…
Earnings analysis · 10-Q
GAIA earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
Gaia’s Q2 revenue of $23.3 million declined from both the prior quarter’s $24.0 million and the prior year’s $25.0 million, while gross margin fell to 85.3%. Diluted EPS was $(0.12), and operating cash flow was $(5.4)…
Read full summary
Gaia’s Q2 revenue of $23.3 million declined from both the prior quarter’s $24.0 million and the prior year’s $25.0 million, while gross margin fell to 85.3%. Diluted EPS was $(0.12), and operating cash flow was $(5.4) million, creating meaningful cash-generation pressure. Management provided no numeric revenue or EPS guidance but reiterated its focus on returning to positive free cash flow in Q4; the filing contains no newly disclosed risk-factor changes.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.12
- Gross margin
- 85.3%
What stood out
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Q2 revenue was $23.3 million
Second-quarter revenue was $23.3 million, while diluted EPS was $(0.12). Revenue declined from $24.0 million in Q1 2026 and $25.0 million in Q2 2025.
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Gross margin declined to 85.3%
Gross margin was 85.3%, down from 86.0% in Q1 2026 and 86.7% in Q2 2025, a sequential decline of 70 basis points and year-over-year decline of 140 basis points.
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Q4 positive FCF remains the objective
Management remains focused on returning to positive free cash flow in Q4, providing a stated cash-generation objective despite no numeric revenue or EPS outlook.
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Liquidity includes a $10 million credit line
The company reported a $10 million credit line as part of its liquidity resources, providing additional financing capacity.
What to watch
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Negative operating cash flow
Operating cash flow was $(5.4) million in Q2 2026, indicating substantial cash consumption during the quarter and increasing reliance on liquidity resources.
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Revenue and margin compression
Revenue was $23.3 million, down approximately 6.8% from $25.0 million in Q2 2025, while gross margin fell to 85.3% from 86.7%, signaling combined top-line and margin pressure.
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No new risk-factor disclosures
The filing does not identify new or amended risk factors; it incorporates by reference Item 1A of the December 31, 2025 Form 10-K filed on March 5, 2026. Accordingly, material risks remain subject to the prior annual disclosure rather than a new quarterly update.
Management's outlook
No numeric revenue or EPS guidance was provided. Management remains focused on returning to positive free cash flow in Q4; no quantitative FCF target was disclosed.
Earlier filings 4
10-K · March 6, 2026
Gaia positions itself as a niche, conscious-media streaming service focused on exclusive original content (over 10,000 titles, ~90% exclusive and >98% available worldwide) delivered via a single subscription segment.…
10-Q · July 31, 2023
Gaia, Inc. reported Q2 2023 revenues of $19.8 million, slightly down from $20.7 million in Q2 2022, reflecting a challenging operating environment and continued losses. The company reported a diluted EPS of -$0.08,…
10-Q · May 1, 2023
Gaia reported Q1 revenue of $19,647,000, down from $21,831,000 in the year-ago quarter, producing a gross margin of 85.9% and an operating loss of $1,022,000. The company generated positive operating cash flow of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.