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what it is
Gaia sells wellness accessories and a subscription streaming service about yoga, spirituality, and personal growth.
how it gets paid
Last year Gaia made $99M in revenue. Gaia streaming subscriptions was the main engine at $55M, or 56% of sales.
why it's growing
Revenue grew 10.8% last year. Revenue rose 194% vs. prior year. Gross margin was 86.9%.
what just happened
Revenue hit $73M, but the quarter still lost money.
At a glance
C++ balance sheet — some cracks in the foundation
30/100 earnings predictability — expect surprises
3.9% return on capital — nothing to write home about
-$0.22 fy2024 eps est
$90M fy2024 rev est
xvary composite: 41/100 — below average
What they do
Gaia sells wellness accessories and a subscription streaming service about yoga, spirituality, and personal growth.
Almost 900,000 subscribers pay Gaia every month. You can toss a yoga mat; you do not toss a habit library. With 86.9% gross margin, every $100 of sales leaves $86.90 before overhead.
How they make money
$99M
annual revenue · their business grew +10.8% last year
Gaia streaming subscriptions
$55M
Gaiam yoga and fitness accessories
$18M
Restorative and massage gear
$10M
Yoga apparel
$9M
Digital media and apps
$7M
The products that matter
subscription video platform
gaia streaming
~900k subscribers · core business
it is the main engine behind the company’s $99M in annual revenue, and the whole valuation depends on keeping this subscriber base paying.
87.1% gross margin
legacy online community
gaia online
millions of members · non-core
millions of members still use its forums and Flash-based games through an emulator, but management’s financial story is clearly the $99M streaming business, not the legacy platform.
legacy asset
Key numbers
$99M
annual sales
You are looking at a company that sold $99M of goods and subscriptions on a $78M market cap.
86.9%
gross margin
That means $100 of sales leaves $86.90 before overhead.
5.2%
operating margin
After overhead, the business still lost $5.20 on every $100 of sales.
~900k
subscribers
A near-900,000 recurring base keeps the streaming side from being a side project.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 15 / 100
- long-term debt $4M (5% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for GAIA right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $73M, but the quarter still lost money.
Revenue rose 194% vs. prior year. Gross margin was 86.9%, which means the content stack is cheap to deliver after sign-up.
$25M
revenue
-$0.16
eps
86.9%
gross margin
the number that mattered
86.9% gross margin is the real number. It says the business keeps $86.90 of every $100 before overhead.
source: company earnings report, 2026
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What could go wrong
the #1 risk is the securities class action lawsuit, and that is a big risk for a company producing only $5M in annual free cash flow.
high
securities class action lawsuit
A 198-page court filing from January 2026 details an ongoing class action alleging securities law violations by the company and its board. That is not background noise for a $78M market cap.
A loss could exceed the company’s $5M annual free cash flow and directly pressure balance sheet flexibility.
med
niche market ceiling
Gaia appears to lead its conscious-media niche, but niche leadership and broad-market scale are different things. Analysts still model only $90M in fy2024 revenue versus the latest $99M full-year result, which tells you expectations remain cautious.
If subscriber growth flattens, the stock loses the one argument for a higher multiple.
low
legacy platform dependency
The Gaia Online community still relies on Flash-era games running through the Ruffle emulator. It is not the main investment case, but it is another reminder that part of this company is older internet infrastructure.
Technical problems would hit a non-core asset, not the whole thesis, but they would not help credibility.
a legal setback could consume more than one full year of current free cash flow, which is a serious problem for a $78M company.
source: institutional data · regulatory filings · risk analysis
Pay attention to
legal
class action milestones
The lawsuit is the first thing to watch because even a modest hit matters against just $5M in annual free cash flow.
earnings
Q1 2026 earnings
Expected late May 2026. Consensus EPS is -$0.07. You want to see whether revenue and cash flow hold up under the new CEO.
management
new CEO execution
Kiersten Medvedich became CEO in June 2025. The next few calls need to show a cleaner strategy than “good niche, messy equity.”
cash flow
whether $5M stays positive
Gross margin is already 87.1%. The next proof point is not prettier margin. It is whether that margin keeps converting into positive free cash flow.
Analyst rankings
earnings predictability
30 / 100
low predictability means the numbers move around more than most stocks. in human-speak: expect choppy quarters and less benefit of the doubt from the market.
source: institutional data
Institutional activity
institutional ownership data for GAIA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$4
current price
n/a
target midpoint · n/a from current
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