LOUISVILLE Revenue at Louisville-based Gaia Inc. (Nasdaq: GAIA) increased 16% during the first quarter, with the company narrowing its net loss compared with the first quarter of 2020.
The conscious-media company reported revenue of $14.5 million, compared with $12.5 million a year ago. The first-quarter net loss dropped to $3.6 million, or 19 cents per share, compared with $6.7 million, or 38 cents per share, in the first quarter of 2020.
Gaia generated positive adjusted EBITDA earnings before interest, taxes, depreciation and amortization of $4.1 million. The company also generated $2 million in cash flow from operations, an improvement of $4.7 million from a year ago.
“For the second quarter in a row, we generated positive adjusted EBITDA and cash flow from operations,” Paul Tarell, Gaia’s chief financial officer, said in a prepared statement. “We remain on track to be free cash flow positive beginning in July, which has been further supported by an uptick in new