BOULDER, CO – May 12, 2025 - Gaia, Inc. (NASDAQ: GAIA), a conscious media and community company, reported financial results for the first quarter and ended March 31, 2025.

Highlights:

"As planned, we continued to deliver on positive free cash flow and double-digit growth for the quarter," said Jirka Rysavy, Gaia's Chairman. "Additionally, the pricing adjustments implemented last year are continuing to perform in line with expectations, supporting both revenue growth and long-term member value."

James Colquhoun, Gaia's CEO, commented: "We are pleased to see the momentum from 2024 carrying into Q1, with strong revenue growth and improvements in profitability. With continued investment in AI and our global community platform, we're laying the foundation for the next evolution of Gaia--one that is more personalized, connected, and expansive."

Gaia CFO Ned Preston stated: “In the first quarter, we delivered 12% revenue growth, up $2.5 million to $23.8 million, while our improved operational execution and efficiency drove a $0.01 improvement in EPS to $(0.04). We strengthened our financial position by generating positive operating and free cash flow, underscoring our disciplined approach and long-term growth strategy. In February, we also closed an underwritten common stock offering, using the approximate $7.0 million in net proceeds to build out the company's AI capabilities and development of the Gaia Community project.”

First Quarter 2025 Financial Results

Revenue increased 12% to $23.8 million, compared to $21.3 million in Q1 2024, driven by growth in both member count and ARPU. Total members increased 3% year-over-year to 867,000.

Gross profit increased 15% to $20.9 million from $18.2 million in the prior-year quarter, with gross margin expanding to 87.8%, up from 85.4%.

Net loss was $(1.0) million, or $(0.04) per share, versus $(1.0) million or $(0.05) per share, in Q1 2024.

Operating cash flow was $1.3 million, with free cash flow of $0.7 million, reflecting ongoing operational discipline.

Cash balance was at $13.1 million as of March 31, 2025, with a fully available $10 million line of credit.

Conference Call

Date: Monday, May 12, 2025

Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)

Toll-free dial-in number: 1-877-269-7751

International dial-in number: 1-201-389-0908

Conference ID: 13752722

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at (949) 574-3860.

The conference call will be broadcast live and available for replay here and via ir.gaia.com.

A telephonic replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through May 26, 2025.

Toll-free replay number: 1-844-512-2921

International replay number: 1-412-317-6671

Replay ID: 13752722

About Gaia

Gaia is a member-supported global video streaming service and community that produces and curates conscious media through four primary channels—Seeking Truth, Transformation, Alternative Healing and Yoga—in four languages (English, Spanish, French and German) to its members in 185 countries. Gaia’s library includes over 10,000 titles, over 88% of which is exclusive to Gaia, and approximately 75% of viewership is generated by content produced or owned by Gaia. Gaia is available on Apple TV, iOS, Android, Roku, Chromecast, and sold through Amazon Prime Video and Comcast Xfinity. For more information about Gaia, visit www.gaia.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact are forward looking statements that involve risks and uncertainties. When used in this discussion, we intend the words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “future,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “strive,” “target,” “will,” “would” and similar expressions as they relate to us to identify such forward-looking statements. Our actual results could differ materially from the results anticipated in these forward-looking statements as a result of certain factors set forth under “Risk Factors” and elsewhere in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2024. Risks and uncertainties that could cause actual results to differ include, without limitation: our ability to attract new members and retain existing members; our ability to

compete effectively, including for customer engagement with different modes of entertainment; maintenance and expansion of device platforms for streaming; fluctuation in customer usage of our service; fluctuations in quarterly operating results; service disruptions; production risks; general economic conditions; future losses; loss of key personnel; price changes; brand reputation; acquisitions; new initiatives we undertake; security and information systems; legal liability for website content; failure of third parties to provide adequate service; future internet-related taxes; our founder’s control of us; litigation; consumer trends; the effect of government regulation and programs; the impact of public health threats; and other risks and uncertainties included in our filings with the Securities and Exchange Commission. We caution you that no forward-looking statement is a guarantee of future performance, and you should not place undue reliance on these forward-looking statements which reflect our views only as of the date of this press release. We undertake no obligation to update any forward-looking information.

Non-GAAP Measures

In addition to disclosing financial results calculated in accordance with generally accepted accounting principles in the United States of America (GAAP), the financial information included in this release contains non-GAAP financial measures, including Free Cash Flow. These non-GAAP measures should not be considered a substitute for, or superior to, financial measures and results calculated in accordance with GAAP, including net income, and reconciliations to GAAP financial statements should be carefully evaluated. Free Cash Flow represents net cash provided by operating activities plus cash paid for interest payments, less cash used in investing activities, plus cash from non-core business activities. We believe Free Cash Flow is also useful as one of the bases for comparing the Gaia’s performance with its competitors. Although Free Cash Flow and similar measures are frequently used as measures of cash flows generated from operations by other companies, Gaia’s calculation of Free Cash Flow might not necessarily be comparable to such other similarly titled captions of other companies. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods.

Company Contact:

Ned Preston

Chief Financial Officer

Gaia, Inc.

[email protected]

Investor Relations:

Gateway Group, Inc.

Cody Slach

(949) 574-3860

[email protected]

GAIA, INC.

Condensed Consolidated Balance Sheets

GAIA, INC.

Condensed Consolidated Statements of Operations (unaudited)

Condensed Consolidated Statement of Cash Flows (unaudited)

Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow (unaudited)