Gaia, Inc. (NASDAQ:GAIA) Q3 2022 Earnings Conference Call November 7, 2022 4:30 PM ET
Company Participants
Jirka Rysavy - CEO
Paul Tarell - CFO
Conference Call Participants
Mark Argento - Lake Street
Thierry Wuilloud - Water Tower Research
Abba Horwitz - Old School
Operator
Good afternoon, everyone and thank you for participating in today’s conference call to discuss Gaia Incorporated’s Financial Results for the Third Quarter Ended September 30th, 2022. Joining us today are Gaia’s CEO, Jirka Rysavy; and CFO, Paul Tarell. Following some prepared remarks, we will open the call for your questions.
Before we get started, however, I would like to take a minute to read the Safe Harbor language. The following constitutes the Safe Harbor statement under the Private Securities Litigation Reform Act of 1995.
The matters discussed today include forward-looking statements that involve numerous assumptions, risks, and uncertainties. These include, but are not limited to general business conditions, future losses, competition, loss of key personnel, price changes, membership growth, brand reputation, changing consumer preferences, customer acquisition costs, member retention rates, acquisitions and other risks and uncertainties detailed from time-to-time in our filings with the Securities and Exchange Commission, including our reports on Form 10-K and Form 10-Q. Gaia assumes no obligation to publicly update or revise any forward-looking statements.
With that, I would now like to turn the call over to Gaia’s CEO, Jirka Rysavy. Please go ahead sir.
Jirka Rysavy
Thank you, and good afternoon, everyone. Our revenues for the nine months of the year increased 6.3% to $62.5 million from $58.7 million. During the quarter, similar to the previous quarter, because of the challenging market environment and a weaker member acquisition part of the year, we pulled back on our marketing spend to -- led to better with the tale of increased departures of members that sign up during COVID lockdown in July and part of
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