Gaia revenue falls 5% to $23.3 million; net loss widens to $3.0 million
Gaia reported second quarter 2026 revenue of $23.3 million, down 5% from $24.6 million a year earlier, and a net loss of $3.0 million, or $0.12 per share, compared with a loss of $1.8 million, or $0.07 per share, in the second quarter of 2025. Operating cash flow was negative $5.4 million, and cash stood at $5.3 million on June 30, 2026, with a fully available $10 million line of credit, which matters to shareholders because both the top line and cash position weakened.
Key points
- Revenue fell 5% to $23.3 million, which the company attributed to lower revenue from lower quality subscribers and lower ARPU regions, plus its shift in marketing strategy.
- Gross margin was 85.3%, down from 86.7% a year earlier.
- Operating cash flow was $(5.4) million for the quarter, compared with $2.3 million in the second quarter of 2025; the CFO cited $2.4 million of seasonal annual renewal timing.
- Management said it expects to return to positive free cash flow in the fourth quarter.
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 10, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.