2020-06-09 13:48:46 GAIA Gaia
06/09/20 06/0913:48 06/09/2013:48 | Gaia confirms view of positive earnings and cash flows for Q3Gaia issued a business update earlier given the easing of stay-at-home orders that began in mid-March. Gaia said: "In its earnings release on April 27th, Gaia noted that the unprecedented times brought on by COVID-19 were benefitting its business. With stay-at-home orders relaxing and the gradual reopening of the economy beginning, the company is providing an update on the continued execution of its business plan, including: Surpassed key member milestone that will support generating positive earnings and cash flows beginning July 1st as planned; Executed contract renewals with remaining third-party distribution partners, reconfirming and solidifying the relationship with each partner while providing revenue and cash flow visibility; Expecting approximately 655,000 paying members as of June 30th, representing a 50,000 net member increase for the quarter, ahead of the company's expectation." Paul Tarell, Gaia's CFO, added: "The momentum we saw in member additions in April continued through May despite stay-at-home orders relaxing. With this momentum and continued discipline on spend management, we have crossed the threshold needed to generate earnings and cash flows in the third quarter as planned." Gaia plans to report its second quarter 2020 earnings results in early August, the company noted. | |
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