Here are 1-2 brief analogies for Gaia:

• Netflix for conscious media, yoga, and spiritual documentaries.
• A subscription video service like Hulu, but exclusively for alternative health, wellness, and metaphysical content.

• Subscription Streaming Service: Offers a vast library of conscious media, including original series, documentaries, yoga, meditation, and transformational videos, available on-demand to subscribers.

Gaia (symbol: GAIA) primarily sells its streaming content and services directly to **individual consumers** through a subscription model. It does not have major B2B customers in the traditional sense of selling to other companies.

Based on the content and nature of its service, Gaia serves the following categories of individual customers:

• Individuals interested in personal growth and spiritual development: This category includes subscribers seeking content related to consciousness, metaphysics, ancient wisdom, spiritual teachings, and self-discovery.
• Practitioners and enthusiasts of yoga, meditation, and mindfulness: Many subscribers are drawn to Gaia for its extensive library of yoga classes, guided meditations, breathwork exercises, and mindfulness practices for all skill levels.
• People seeking alternative health and wellness information: This group consists of individuals interested in holistic health, functional medicine, plant-based nutrition, natural healing modalities, and documentaries exploring alternative perspectives on well-being.

• Apple Inc. (AAPL)
• Alphabet Inc. (GOOGL)
• Roku, Inc. (ROKU)

James Colquhoun, Chief Executive Officer

James Colquhoun assumed the role of CEO in December 2023, having previously served as Chief Operating Officer since June 2023 and as a member of Gaia's Board of Directors since 2021. A seasoned entrepreneur and filmmaker, Mr. Colquhoun founded Food Matters and Food Matters TV (FMTV), a health and wellness subscription video-on-demand company. FMTV was acquired by Gaia in June 2019. He is also known for producing acclaimed documentaries such as "Food Matters" and "Hungry For Change."

Ned Preston, Chief Financial Officer

Ned Preston joined Gaia as Chief Financial Officer in June 2023. Prior to his role at Gaia, Mr. Preston served as the Chief Financial Officer of Tive Inc. from May 2022 to September 2022 and Motional Inc. from April 2020 to April 2022. He also held various senior finance positions at Fortune 500 technology companies, including PTC Inc. from November 2016 to December 2019, Akamai Technologies, Inc., and Oracle Corporation.

Kiersten Medvedich, President

Kiersten Medvedich was promoted to President of Gaia, Inc. in July 2023, having previously served as Executive Vice President of Production. She joined Gaia in 2016, bringing over 14 years of experience from Sony Pictures Television, where her background was firmly rooted in all facets of production and national broadcast.

Jirka Rysavy, Executive Chairman

Jirka Rysavy is the founder of Gaia, incorporated in 1988, and has served as Chairman since its inception, also holding the CEO position during various periods. Mr. Rysavy founded Corporate Express, Inc. in 1986, leading it to become a Fortune 500 company. He also established Crystal Market, a health foods concept that was sold in 1987 and became the foundation for the first Wild Oats Market, now part of Whole Foods Market/Amazon. Additionally, he served as Chairman of Real Goods Solar, Inc., an entity Gaia founded and took public.

Bryan Cooley, Vice President of Strategy, Business Intelligence and Growth

Bryan Cooley is responsible for orchestrating Gaia's corporate strategy, business intelligence, and revenue growth programs. He emphasizes data-driven decision-making and performance marketing efforts, contributing to improved return on ad spend and increased revenue-generating initiatives. Mr. Cooley has 18 years of leadership experience spanning both non-profit and private sectors.

Gaia (symbol: GAIA) offers a digital video streaming subscription service focused on conscious media content, encompassing spiritual growth, transformation, alternative healing, yoga, and meditation.

Addressable Markets for Gaia's Main Products or Services:

1. Conscious Media, Spiritual Growth, and Transformation Content (Streaming Service):

• The global spiritual products and services market is projected to be USD 186.53 billion in 2025, with an expected increase to approximately USD 254.69 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 4.04%.
• Another estimate for the global spiritual services market size indicates it will be USD 392,460.8 million in 2025 and is projected to reach USD 699,945.1342 million by 2033, with a CAGR of 7.5%. North America is a significant contributor to this market, with an estimated size of USD 113,813.63 million in 2025.
• The global spiritual & devotional products market was valued at US$ 3.6 billion in 2022 and is projected to grow to US$ 8.3 billion by 2031 at a CAGR of 8.7%.
• The Global Spiritual and Devotional Products Market size is expected to reach around USD 8.5 billion by 2034, from USD 3.9 billion in 2024, growing at a CAGR of 8.1%.

2. Online Yoga and Movement Classes:

• The global online yoga market is estimated at USD 20 billion in 2025 and is projected to reach USD 60 billion by 2033, expanding at a CAGR of 18%.
• The Digital Yoga Market (online classes & apps) is expected to surpass USD 30 billion by 2027.
• The global yoga market size was estimated at USD 107.1 billion in 2023 and is expected to grow at a CAGR of 9.4% from 2024 to 2030, reaching USD 200.35 billion by 2030. North America led the overall yoga market with a 33.36% share in 2024.

3. Mindfulness and Meditation Content:

• The Global Mindfulness Meditation Apps Market size is valued at USD 939.0 million in 2024 and is predicted to reach USD 19,020.1 million by 2034, with a 35.2% CAGR.
• The global mindfulness meditation app market is set to reach US$ 646.9 million in 2024 and further expand to US$ 1.45 billion by 2034, with a CAGR of 8.4%. The North American mindfulness meditation app market size is projected to reach US$ 421.7 million by 2034.
• The global meditation market size, which includes meditation apps, was valued at USD 8.79 billion in 2024 and is expected to reach USD 34.01 billion by 2032, at a CAGR of 18.5%.

1. Strategic Subscription Price Increases: Gaia has recently implemented subscription price increases, which have positively impacted revenue growth and average revenue per user (ARPU), despite leading to a slower pace in member acquisition. The company plans another similar $2 price increase in March 2026. This strategy is expected to continue driving bottom-line growth.
2. Growth in Member Count and ARPU: While price increases can temper member growth, Gaia continues to focus on attracting and retaining members, with total members increasing to 883,000 as of Q3 2025. The company's revenue growth has been driven by both member count and ARPU. The focus is on high lifetime value members.
3. Leveraging AI for Enhanced Engagement and New Services: Gaia has launched a proprietary AI model aimed at enhancing user engagement and is developing a conscious AI companion, with internal testing showing exceptional results. This AI guide launched in beta to direct members in Q3 2025, with management reporting encouraging engagement and usage trends ahead of a full rollout. Strategic investments in AI are expected to improve product offerings and user experience.
4. Launch of a Global Conscious Community Platform: Gaia is actively developing and plans to launch a global conscious community platform next year (2026). This platform aims to connect members globally, allowing them to explore, learn, and share, thereby enhancing member value and driving future growth.
5. Expansion of the Igniton Product Line: The new product line, "Igniton," which includes Cogni and Longevity supplements, has shown promising results in initial trials and offers significant growth potential, including a potential future spin-off. Igniton generated $700,000 from Gaia marketplace sales in Q3 2025, with an annualized run rate projected around $3 million.

Share Repurchases

• In May 2021, Gaia's board of directors authorized a share repurchase program of up to 5,000,000 shares of its Class A common stock. The program does not have an expiration date and does not require the company to repurchase any specified number of shares.

Share Issuance

• In October 2023, Gaia completed an underwritten public offering of 1,855,000 shares of its Class A common stock at $2.70 per share, generating approximately $5.0 million in gross proceeds.
• In February 2025, Gaia closed an underwritten public offering of 1,600,000 shares of Class A common stock at $5.00 per share, resulting in approximately $7.2 million in net proceeds.
• As of September 30, 2025, 19,709,325 Class A shares were issued, compared to 18,066,942 at December 31, 2024.

Inbound Investments

• In April 2024, Gaia's subsidiary, Igniton, Inc., completed a sale of 2,750,000 shares of its common stock to certain funds for approximately $3.2 million in net proceeds.
• In July 2025, Gaia's majority-owned subsidiary, Igniton, raised $6.0 million in equity, contributing to an increase in noncontrolling interests to $15.273 million.

Outbound Investments

• Gaia utilized $6.5 million for the acquisition of Yoga International and a French language content library during the quarter ending December 31, 2021.
• On September 30, 2025, Gaia acquired UTV L.L.C. for $2.5 million, which included $2.0 million of goodwill, and made a separate $2.0 million cost-method investment.

Capital Expenditures

• For the first nine months of 2025, net cash used for capital expenditures was $4.361 million, an increase from $3.881 million during the same period in 2024.
• Capital expenditures as of June 30, 2025, amounted to -$4.9 million.
• For the remainder of 2025, Gaia expects content and capital expenditures to be between $11.0 million to $13.0 million, primarily focused on expanding its content library and enhancing digital platform capabilities and AI capabilities.