Q1 2024 Gaia Inc Earnings Call Transcript
Key Points
- Revenue for Q1 2024 grew by 11% to $21.7 million, marking the third consecutive period of year-over-year top-line growth.
- Member count increased by 10% to 839,000 as of March 31, 2024, demonstrating strong customer acquisition.
- Gross profit for Q1 2024 increased to $18.5 million, up from $16.9 million in the year-ago quarter.
- Net loss improved to negative $1 million from $1.3 million in Q1 2023, showing better control over operational costs.
- Free cash flow improved significantly to $1 million from a loss of $0.6 million in the year-ago period, marking the fourth consecutive quarter of positive free cash flow.
- Despite improvements, the company still reported a net loss of $1 million, indicating ongoing challenges in achieving profitability.
- The implementation of AI and new technologies requires significant investment, which could impact short-term profitability.
- The company's reliance on increasing ARPU and membership growth may face challenges in saturated markets or from competitive pressures.
- Recent pricing increases in the Euro and GBP markets could potentially impact subscriber growth and churn rates.
- While deferred revenue increased, it places pressure on future performance to realize these revenues, adding uncertainty to financial stability.
Good afternoon, and welcome to Gaia's First Quarter 2024 earnings conference call. At this time, all participants are in a listen only mode. Joining us today from Gaia are: Jirka Rysavy, Executive Chairman; James Colquhoun, CEO; and Ned Preston, CFO.
After the speakers' presentation, there will be a question-and-answer session. Before we begin, guys, management team would like to remind everyone that management's prepared remarks contain forward-looking statements, and management may make additional forward-looking statements in response to your questions, including but not limited to, statements of expectations, future events or future financial performance. These statements do not guarantee future performance and therefore, undue reliance should not be placed on them.
Although we believe these expectations are reasonable, Gaia's management undertakes no obligation to revise any statements to reflect changes that occur after this call. Actual events or results could differ materially, and these statements are based on current expectations of the company's management and involve inherent
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