Gaia, Inc.

Good afternoon, and welcome to GAIA's fourth quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. Joining us today from GAIA are Yurka Risavi, Executive Chairman, James Calhoun, CEO, and Ned Preston, CFO. After the speaker's presentation, there will be a question and answer session. Before we begin, management team would like to remind everyone that management's prepared remarks contain forward-looking statements and management may make additional forward-looking statements in response to your questions, including, but not limited to, statements of expectations, future events, or future financial performance. These statements do not guarantee future performance, and therefore, undue reliance should not be placed upon them. Although we believe these expectations are reasonable, guides management undertakes no obligation to revise any statements to reflect changes that occur after this call. Actual events or results could differ materially. These statements are based on current expectations of the company's management and involve inherent risk and uncertainties, including those identified in the Risk Factor section of GAIA's latest annual report on Form 10-K, filed with the SEC. All non-GAAP financial measures referenced in today's call are reconciled in the company's earnings press release to the most directly comparable GAAP measure. This call also contains... Time-sensitive information that is accurate only as of the time and date of this broadcast, March 10th, 2025. Finally, I would like to remind everyone that this conference call is being webcast and a recording will be available for replay on GAIA's Investor Relations website at ir.gaia.com.

I will now turn the call over to GAIA's Executive Chairman, Yurka Rissavi. Good afternoon, everyone.

During the fourth quarter, our revenue grew 18% to $24.4 million, with gross margin improving to 88.3% from 85.3% at the year-ago quarter. Over the last month, we raised, for the first time in our history, our subscription prices for most of our existing members by at least $2. Even with some member losses caused by the price increase, our member count grew by 6%. Revenue for the year grew 12% to $90.2 million. Our gross profit per employee for the year improved to $730,000 from $660,000. Our ratio of the member lifetime value to our cost of acquisition climbed to over 6x. We had a positive free cash flow for both quarter and full year, with the free cash flow improving for about $4 million for the year. And James will now speak more about advances in the business.