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Quarterly Financial Information (Unaudited) | 12 Months Ended
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Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Information | 17. Quarterly Financial Information (Unaudited) The previously reported condensed consolidated financial information as of and for the three months ended March 31, 2022 and 2023, the three and six months ended June 30, 2022 and 2023, and the three and nine months ended September 30, 2022 and 2023, have been corrected. As part of the restatement, the Company recorded adjustments to correct the misstatements in the impacted periods. See Note 3 for further information regarding the restatement. Description of Misstatement Adjustments (a) Media Library, Consolidated Statement of Cash Flows Impact As further described in Note 3, the Company determined the prior quarterly presentation was incorrect in relation to its presentation of additions to its media library content, resulting in an overstatement of investing cash outflows and corresponding overstatement of cash provided by operating activities. Refer to the tables below for the amount of these corrections within each respective period. (b) Line of Credit, Consolidated Statement of Cash Flows Impact During the three months ended March 31, 2023, the Company identified an overstatement of the proceeds from short-term borrowings and a corresponding overstatement of the repayment of debt in relation to the Company’s line of credit arrangement. The misstatement did not have any impact on the net cash provided by financing activities, the condensed consolidated statement of cash flows or the condensed consolidated balance sheet. (c) Equity Method Investment As further described in Note 3, the Company has an excess basis allocated to amortizable assets in relation to its equity method investment that should have been recognized on a straight-line basis over the estimated 20-year life of the contributed technology at a rate of $0.5 million per year. Therefore, the Company recorded a correction to the beginning investment balance with a corresponding adjustment to accumulated deficit to reflect the appropriate carrying value of the investment, as well as the associated equity method investment loss related to the continuing amortization of the excess basis. Refer to the tables below for the amount of these corrections within each respective period. (d) BioWell Noncontrolling Interest As further described in Note 3, the Company identified misstatements due to its lack of presentation of the noncontrolling interest and corresponding net income attributable to noncontrolling interest holders associated with its investment in BioWell. Refer to the tables below for the amount of these corrections within each respective period. The following tables represent the restated condensed consolidated balance sheet and the restated condensed consolidated statements of operations, changes in equity, and cash flows as of and for the three months ended March 31, 2022 and 2023, the three and six months ended June 30, 2022 and 2023, and the three and nine months ended September 30, 2022 and 2023. These tables also present a reconciliation from the prior period as previously reported to the restated amounts. GAIA, INC. Condensed Consolidated Balance Sheet
|  | As of March 31, 2022 (unaudited) |  |  | As of June 30, 2022 (unaudited) |  |  | As of September 30, 2022 (unaudited) |  |
(in thousands, except share and per share data) |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate, investment and other assets, net |  |  | 31,128 |  |  | (2,750 | ) | (c) |  | 28,378 |  | (1) |  | 31,002 |  |  | (2,875 | ) | (c) |  | 28,127 |  | (1) |  | 30,839 |  |  | (3,000 | ) | (c) |  | 27,839 |  | (1)
Total assets |  | $ | 132,785 |  | $ | (2,750 | ) |  | $ | 130,035 |  |  | $ | 131,421 |  | $ | (2,875 | ) |  | $ | 128,546 |  |  | $ | 136,859 |  | $ | (3,000 | ) |  | $ | 133,859 |  |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated deficit |  |  | (72,017 | ) |  | (3,589 | ) | (c) (d) |  | (75,606 | ) |  |  | (71,901 | ) |  | (3,779 | ) | (c) (d) |  | (75,680 | ) |  |  | (74,276 | ) |  | (3,938 | ) | (c) (d) |  | (78,214 | ) |
Total Gaia, Inc. shareholders’ equity |  |  | 90,841 |  |  | (3,589 | ) |  |  | 87,252 |  |  |  | 91,390 |  |  | (3,779 | ) |  |  | 87,611 |  |  |  | 89,352 |  |  | (3,938 | ) |  |  | 85,414 |  |
Noncontrolling interests |  |  | — |  |  | 839 |  | (d) |  | 839 |  |  |  | — |  |  | 904 |  | (d) |  | 904 |  |  |  | — |  |  | 938 |  | (d) |  | 938 |  |
Total equity |  |  | 90,841 |  |  | (2,750 | ) |  |  | 88,091 |  |  |  | 91,390 |  |  | (2,875 | ) |  |  | 88,515 |  |  |  | 89,352 |  |  | (3,000 | ) |  |  | 86,352 |  |
Total liabilities and equity |  | $ | 132,785 |  | $ | (2,750 | ) |  | $ | 130,035 |  |  | $ | 131,421 |  | $ | (2,875 | ) |  | $ | 128,546 |  |  | $ | 136,859 |  | $ | (3,000 | ) |  | $ | 133,859 |  |
(1) To conform with current period presentation in our condensed consolidated balance sheets for the periods ended March 31, 2023 and 2022, June 30, 2023 and 2022, and September 30, 2023 and 2022, we made certain reclassification adjustments as further described within Note 2, including adjusting the equity method investment portion of real estate, investment and other assets, net into a separate line item, equity method investment.
|  | As of March 31, 2023 (unaudited) |  |  | As of June 30, 2023 (unaudited) |  |  | As of September 30, 2023 (unaudited) |  |
(in thousands, except share and per share data) |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate, investment and other assets, net |  |  | 30,806 |  |  | (3,250 | ) | (c) |  | 27,556 |  | (1) |  | 30,569 |  |  | (3,375 | ) | (c) |  | 27,194 |  | (1) |  | 30,296 |  |  | (3,500 | ) | (c) |  | 26,796 |  | (1)
Total assets |  | $ | 137,630 |  | $ | (3,250 | ) |  | $ | 134,380 |  |  | $ | 137,633 |  | $ | (3,375 | ) |  | $ | 134,258 |  |  | $ | 138,402 |  | $ | (3,500 | ) |  | $ | 134,902 |  |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated deficit |  |  | (76,341 | ) |  | (4,358 | ) | (c) (d) |  | (80,699 | ) |  |  | (78,059 | ) |  | (4,528 | ) | (c) (d) |  | (82,587 | ) |  |  | (78,647 | ) |  | (4,712 | ) | (c) (d) |  | (83,359 | ) |
Total Gaia, Inc. shareholders’ equity |  |  | 87,945 |  |  | (4,358 | ) |  |  | 83,587 |  |  |  | 87,377 |  |  | (4,528 | ) |  |  | 82,849 |  |  |  | 86,845 |  |  | (4,712 | ) |  |  | 82,133 |  |
Noncontrolling interests |  |  | — |  |  | 1,108 |  | (d) |  | 1,108 |  |  |  | — |  |  | 1,153 |  | (d) |  | 1,153 |  |  |  | — |  |  | 1,212 |  | (d) |  | 1,212 |  |
Total equity |  |  | 87,945 |  |  | (3,250 | ) |  |  | 84,695 |  |  |  | 87,377 |  |  | (3,375 | ) |  |  | 84,002 |  |  |  | 86,845 |  |  | (3,500 | ) |  |  | 83,345 |  |
Total liabilities and equity |  | $ | 137,630 |  | $ | (3,250 | ) |  | $ | 134,380 |  |  | $ | 137,633 |  | $ | (3,375 | ) |  | $ | 134,258 |  |  | $ | 138,402 |  | $ | (3,500 | ) |  | $ | 134,902 |  |
(1) To conform with current period presentation in our condensed consolidated balance sheets for the periods ended March 31, 2023 and 2022, June 30, 2023 and 2022, and September 30, 2023 and 2022, we made certain reclassification adjustments as further described within Note 2, including adjusting the equity method investment portion of real estate, investment and other assets, net into a separate line item, equity method investment. GAIA, INC. Condensed Consolidated Statement of Operations
|  | Three Months Ended March 31, 2022 (unaudited) |  |  | Three Months Ended June 30, 2022 (unaudited) |  |  | Three Months Ended September 30, 2022 (unaudited) |  |
(in thousands, except per share data) |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |
Equity method investment loss |  |  | — |  |  | (125 | ) | (c) |  | (125 | ) | (1) |  | — |  |  | (125 | ) | (c) |  | (125 | ) | (1) |  | — |  |  | (125 | ) | (c) |  | (125 | ) | (1)
Net income (loss) before income taxes |  |  | 247 |  |  | (125 | ) |  |  | 122 |  |  |  | 248 |  |  | (125 | ) |  |  | 123 |  |  |  | (2,368 | ) |  | (125 | ) |  |  | (2,493 | ) |
Net income (loss) from continuing operations |  |  | 247 |  |  | (125 | ) |  |  | 122 |  |  |  | 248 |  |  | (125 | ) |  |  | 123 |  |  |  | (2,368 | ) |  | (125 | ) |  |  | (2,493 | ) |
Net income (loss) |  |  | 86 |  |  | (125 | ) |  |  | (39 | ) |  |  | 116 |  |  | (125 | ) |  |  | (9 | ) |  |  | (2,375 | ) |  | (125 | ) |  |  | (2,500 | ) |
Net income attributable to noncontrolling interests |  |  | - |  |  | 65 |  | (d) |  | 65 |  |  |  | - |  |  | 65 |  | (d) |  | 65 |  |  |  | - |  |  | 34 |  | (d) |  | 34 |  |
Net income (loss) attributable to common shareholders |  | $ | 86 |  | $ | (190 | ) |  | $ | (104 | ) |  | $ | 116 |  | $ | (190 | ) |  | $ | (74 | ) |  | $ | (2,375 | ) | $ | (159 | ) |  | $ | (2,534 | ) |
Earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations (attributable to common shareholders) |  | $ | 0.01 |  | $ | (0.01 | ) |  | $ | 0.00 |  |  | $ | 0.01 |  | $ | (0.01 | ) |  | $ | 0.00 |  |  | $ | (0.11 | ) | $ | (0.01 | ) |  | $ | (0.12 | ) |
Basic earnings (loss) per share |  | $ | 0.00 |  | $ | (0.01 | ) |  | $ | (0.01 | ) |  | $ | — |  | $ | — |  |  | $ | — |  |  | $ | (0.11 | ) | $ | (0.01 | ) |  | $ | (0.12 | ) |
Diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations (attributable to common shareholders) |  | $ | 0.01 |  | $ | (0.01 | ) |  | $ | 0.00 |  |  | $ | 0.01 |  | $ | (0.01 | ) |  | $ | 0.00 |  |  | $ | (0.11 | ) | $ | (0.01 | ) |  | $ | (0.12 | ) |
Diluted earnings (loss) per share |  | $ | 0.00 |  | $ | (0.01 | ) |  | $ | (0.01 | ) |  | $ | — |  | $ | — |  |  | $ | — |  |  | $ | (0.11 | ) | $ | (0.01 | ) |  | $ | (0.12 | ) |
(1) To conform with current period presentation in our condensed consolidated statement of operations for the periods ended March 31, 2023 and 2022, June 30, 2023 and 2022, September 30, 2023 and 2022 we made certain reclassification adjustments as further described within Note 2, including adjusting the equity method investment loss portion of interest and other expense, net into a separate line item, equity method investment loss.
|  | Six Months Ended June 30, 2022 (unaudited) |  |  | Nine Months Ended September 30, 2022 (unaudited) |  |
(in thousands, except per share data) |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |
Equity method investment loss |  |  | — |  |  | (250 | ) | (c) |  | (250 | ) | (1) |  | — |  |  | (375 | ) | (c) |  | (375 | ) | (1)
Net income (loss) before income taxes |  |  | 495 |  |  | (250 | ) |  |  | 245 |  |  |  | (1,873 | ) |  | (375 | ) |  |  | (2,248 | ) |
Net income (loss) from continuing operations |  |  | 495 |  |  | (250 | ) |  |  | 245 |  |  |  | (1,873 | ) |  | (375 | ) |  |  | (2,248 | ) |
Net income (loss) |  |  | 202 |  |  | (250 | ) |  |  | (48 | ) |  |  | (2,173 | ) |  | (375 | ) |  |  | (2,548 | ) |
Net income attributable to noncontrolling interests |  |  | - |  |  | 130 |  | (d) |  | 130 |  |  |  | - |  |  | 164 |  | (d) |  | 164 |  |
Net income (loss) attributable to common shareholders |  | $ | 202 |  | $ | (380 | ) |  | $ | (178 | ) |  | $ | (2,173 | ) | $ | (539 | ) |  | $ | (2,712 | ) |
Earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations (attributable to common shareholders) |  | $ | 0.02 |  | $ | (0.01 | ) |  | $ | 0.01 |  |  | $ | (0.09 | ) | $ | (0.03 | ) |  | $ | (0.12 | ) |
Basic earnings (loss) per share |  | $ | 0.01 |  | $ | (0.02 | ) |  | $ | (0.01 | ) |  | $ | (0.10 | ) | $ | (0.03 | ) |  | $ | (0.13 | ) |
Diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations (attributable to common shareholders) |  | $ | 0.02 |  | $ | (0.01 | ) |  | $ | 0.01 |  |  | $ | (0.09 | ) | $ | (0.03 | ) |  | $ | (0.12 | ) |
Diluted earnings (loss) per share |  | $ | 0.01 |  | $ | (0.01 | ) |  | $ | — |  |  | $ | (0.10 | ) | $ | (0.03 | ) |  | $ | (0.13 | ) |
(1) To conform with current period presentation in our condensed consolidated statement of operations for the periods ended March 31, 2023 and 2022, June 30, 2023 and 2022, September 30, 2023 and 2022 we made certain reclassification adjustments as further described within Note 2, including adjusting the equity method investment loss portion of interest and other expense, net into a separate line item, equity method investment loss.
|  | Three Months Ended March 31, 2023 (unaudited) |  |  | Three Months Ended June 30, 2023 (unaudited) |  |  | Three Months Ended September 30, 2023 (unaudited) |  |
(in thousands, except per share data) |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |
Equity method investment loss |  |  | — |  |  | (125 | ) | (c) |  | (125 | ) | (1) |  | — |  |  | (125 | ) | (c) |  | (125 | ) | (1) |  | — |  |  | (125 | ) | (c) |  | (125 | ) | (1)
Loss before income taxes |  |  | (1,143 | ) |  | (125 | ) |  |  | (1,268 | ) |  |  | (1,718 | ) |  | (125 | ) |  |  | (1,843 | ) |  |  | (588 | ) |  | (125 | ) |  |  | (713 | ) |
Net loss |  |  | (1,143 | ) |  | (125 | ) |  |  | (1,268 | ) |  |  | (1,718 | ) |  | (125 | ) |  |  | (1,843 | ) |  |  | (588 | ) |  | (125 | ) |  |  | (713 | ) |
Net income attributable to noncontrolling interests |  |  | — |  |  | 38 |  | (d) |  | 38 |  |  |  | — |  |  | 45 |  | (d) |  | 45 |  |  |  | — |  |  | 59 |  | (d) |  | 59 |  |
Net loss attributable to common shareholders |  | $ | (1,143 | ) | $ | (163 | ) |  | $ | (1,306 | ) |  | $ | (1,718 | ) | $ | (170 | ) |  | $ | (1,888 | ) |  | $ | (588 | ) | $ | (184 | ) |  | $ | (772 | ) |
Loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic loss per share |  | $ | (0.05 | ) | $ | (0.01 | ) |  | $ | (0.06 | ) |  | $ | (0.08 | ) | $ | (0.01 | ) |  | $ | (0.09 | ) |  | $ | (0.03 | ) | $ | (0.01 | ) |  | $ | (0.04 | ) |
Diluted loss per share |  | $ | (0.05 | ) | $ | (0.01 | ) |  | $ | (0.06 | ) |  | $ | (0.08 | ) | $ | (0.01 | ) |  | $ | (0.09 | ) |  | $ | (0.03 | ) | $ | (0.01 | ) |  | $ | (0.04 | ) |
(1) To conform with current period presentation in our condensed consolidated statement of operations for the periods ended March 31, 2023 and 2022, June 30, 2023 and 2022, September 30, 2023 and 2022 we made certain reclassification adjustments as further described within Note 2, including adjusting the equity method investment loss portion of interest and other expense, net into a separate line item, equity method investment loss.
|  | Six Months Ended June 30, 2023 (unaudited) |  |  | Nine Months Ended September 30, 2023 (unaudited) |  |
(in thousands, except per share data) |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |
Equity method investment loss |  |  | — |  |  | (250 | ) | (c) |  | (250 | ) | (1) |  | — |  |  | (375 | ) | (c) |  | (375 | ) | (1)
Loss before income taxes |  |  | (2,861 | ) |  | (250 | ) |  |  | (3,111 | ) |  |  | (3,449 | ) |  | (375 | ) |  |  | (3,824 | ) |
Net loss |  |  | (2,861 | ) |  | (250 | ) |  |  | (3,111 | ) |  |  | (3,449 | ) |  | (375 | ) |  |  | (3,824 | ) |
Net income attributable to noncontrolling interests |  |  | — |  |  | 83 |  | (d) |  | 83 |  |  |  | - |  |  | 142 |  | (d) |  | 142 |  |
Net loss attributable to common shareholders |  | $ | (2,861 | ) | $ | (333 | ) |  | $ | (3,194 | ) |  | $ | (3,449 | ) | $ | (517 | ) |  | $ | (3,966 | ) |
Loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic loss per share |  | $ | (0.14 | ) | $ | (0.01 | ) |  | $ | (0.15 | ) |  | $ | (0.16 | ) | $ | (0.03 | ) |  | $ | (0.19 | ) |
Diluted loss per share |  | $ | (0.14 | ) | $ | (0.01 | ) |  | $ | (0.15 | ) |  | $ | (0.16 | ) | $ | (0.03 | ) |  | $ | (0.19 | ) |
Weighted-average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 20,850 |  |  |  |  |  | 20,850 |  |  |  | 20,951 |  |  |  |  |  | 20,951 |  |
Diluted |  |  | 20,850 |  |  |  |  |  | 20,850 |  |  |  | 20,951 |  |  |  |  |  | 20,951 |  |
(1) To conform with current period presentation in our condensed consolidated statement of operations for the periods ended March 31, 2023 and 2022, June 30, 2023 and 2022, September 30, 2023 and 2022 we made certain reclassification adjustments as further described within Note 2, including adjusting the equity method investment loss portion of interest and other expense, net into a separate line item, equity method investment loss. GAIA, INC. Condensed Consolidated Statement of Changes in Equity (Unaudited)
(in thousands, except shares) |  | Common Stock Shares |  | Accumulated Deficit |  | Common Stock Amount |  | Additional Paid-in Capital |  | Non-controlling interests |  | Total Equity |  | Ref.
As Previously Reported |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2022 |  |  | 20,461,337 |  | $ | (72,103 | ) | $ | 2 |  | $ | 162,316 |  | $ | — |  | $ | 90,215 |  |
Net income |  |  | — |  |  | 86 |  |  | — |  |  | — |  |  | — |  |  | 86 |  |
Balance at March 31, 2022 |  |  | 20,775,160 |  | $ | (72,017 | ) | $ | 2 |  | $ | 162,856 |  | $ | — |  | $ | 90,841 |  |
Adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2022 |  |  | — |  | $ | (3,399 | ) | $ | — |  | $ | — |  | $ | 774 |  | $ | (2,625 | ) | (c) (d)
Net income (loss) |  |  | — |  |  | (190 | ) |  | — |  |  | — |  |  | 65 |  |  | (125 | ) | (c) (d)
Balance at March 31, 2022 |  |  | — |  | $ | (3,589 | ) | $ | — |  | $ | — |  | $ | 839 |  | $ | (2,750 | ) |
As Restated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2022 |  |  | 20,461,337 |  | $ | (75,502 | ) | $ | 2 |  | $ | 162,316 |  | $ | 774 |  | $ | 87,590 |  |
Net income (loss) |  |  | — |  |  | (104 | ) |  | — |  |  | — |  |  | 65 |  |  | (39 | ) |
Balance at March 31, 2022 |  |  | 20,775,160 |  | $ | (75,606 | ) | $ | 2 |  | $ | 162,856 |  | $ | 839 |  | $ | 88,091 |  |
As Previously Reported |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at March 31, 2022 |  |  | 20,775,160 |  | $ | (72,017 | ) | $ | 2 |  | $ | 162,856 |  | $ | — |  | $ | 90,841 |  |
Net income |  |  | — |  |  | 116 |  |  | — |  |  | — |  |  | — |  |  | 116 |  |
Balance at June 30, 2022 |  |  | 20,806,186 |  | $ | (71,901 | ) | $ | 2 |  | $ | 163,289 |  | $ | — |  | $ | 91,390 |  |
Adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at March 31, 2022 |  |  | — |  | $ | (3,589 | ) | $ | — |  | $ | — |  | $ | 839 |  | $ | (2,750 | ) | (c) (d)
Net income (loss) |  |  | — |  |  | (190 | ) |  | — |  |  | — |  |  | 65 |  |  | (125 | ) | (c) (d)
Balance at June 30, 2022 |  |  | — |  | $ | (3,779 | ) | $ | — |  | $ | — |  | $ | 904 |  | $ | (2,875 | ) |
As Restated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at March 31, 2022 |  |  | 20,775,160 |  | $ | (75,606 | ) | $ | 2 |  | $ | 162,856 |  | $ | 839 |  | $ | 88,091 |  |
Net income (loss) |  |  | — |  |  | (74 | ) |  | — |  |  | — |  |  | 65 |  |  | (9 | ) |
Balance at June 30, 2022 |  |  | 20,806,186 |  | $ | (75,680 | ) | $ | 2 |  | $ | 163,289 |  | $ | 904 |  | $ | 88,515 |  |
As Previously Reported |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2022 |  |  | 20,806,186 |  | $ | (71,901 | ) | $ | 2 |  | $ | 163,289 |  | $ | — |  | $ | 91,390 |  |
Net loss |  |  | — |  |  | (2,375 | ) |  | — |  |  | — |  |  | — |  |  | (2,375 | ) |
Balance at September 30, 2022 |  |  | 20,806,186 |  | $ | (74,276 | ) | $ | 2 |  | $ | 163,626 |  | $ | — |  | $ | 89,352 |  |
Adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2022 |  |  | — |  | $ | (3,779 | ) | $ | — |  | $ | — |  | $ | 904 |  | $ | (2,875 | ) | (c) (d)
Net income (loss) |  |  | — |  |  | (159 | ) |  | — |  |  | — |  |  | 34 |  |  | (125 | ) | (c) (d)
Balance at September 30, 2022 |  |  | — |  | $ | (3,938 | ) | $ | — |  | $ | — |  | $ | 938 |  | $ | (3,000 | ) |
As Restated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2022 |  |  | 20,806,186 |  | $ | (75,680 | ) | $ | 2 |  | $ | 163,289 |  | $ | 904 |  | $ | 88,515 |  |
Net income (loss) |  |  | — |  |  | (2,534 | ) |  | — |  |  | — |  |  | 34 |  |  | (2,500 | ) |
Balance at September 30, 2022 |  |  | 20,806,186 |  | $ | (78,214 | ) | $ | 2 |  | $ | 163,626 |  | $ | 938 |  | $ | 86,352 |  |
As Previously Reported |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at September 30, 2022 |  |  | 20,806,186 |  | $ | (74,276 | ) | $ | 2 |  | $ | 163,626 |  | $ | — |  | $ | 89,352 |  |
Net loss |  |  | — |  |  | (922 | ) |  | — |  |  | — |  |  | — |  |  | (922 | ) |
Balance at December 31, 2022 |  |  | 20,806,186 |  | $ | (75,198 | ) | $ | 2 |  | $ | 164,180 |  | $ | — |  | $ | 88,984 |  |
Adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at September 30, 2022 |  |  | — |  | $ | (3,938 | ) | $ | — |  | $ | — |  | $ | 938 |  | $ | (3,000 | ) | (c) (d)
Net income (loss) |  |  | — |  |  | (257 | ) |  | — |  |  | — |  |  | 132 |  |  | (125 | ) | (c) (d)
Balance at December 31, 2022 |  |  | — |  | $ | (4,195 | ) | $ | — |  | $ | — |  | $ | 1,070 |  | $ | (3,125 | ) |
As Restated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at September 30, 2022 |  |  | 20,806,186 |  | $ | (78,214 | ) | $ | 2 |  | $ | 163,626 |  | $ | 938 |  | $ | 86,352 |  |
Net income (loss) |  |  | — |  |  | (1,179 | ) |  | — |  |  | — |  |  | 132 |  |  | (1,047 | ) |
Balance at December 31, 2022 |  |  | 20,806,186 |  | $ | (79,393 | ) | $ | 2 |  | $ | 164,180 |  | $ | 1,070 |  | $ | 85,859 |  |
(in thousands, except shares) |  | Common Stock Shares |  | Accumulated Deficit |  | Common Stock Amount |  | Additional Paid-in Capital |  | Non-controlling interests |  | Total Equity |  | Ref.
As Previously Reported |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2023 |  |  | 20,806,186 |  | $ | (75,198 | ) | $ | 2 |  | $ | 164,180 |  | $ | — |  | $ | 88,984 |  |
Net loss |  |  | — |  |  | (1,143 | ) |  | — |  |  | — |  |  | — |  |  | (1,143 | ) |
Balance at March 31, 2023 |  |  | 20,825,792 |  | $ | (76,341 | ) | $ | 2 |  | $ | 164,284 |  | $ | — |  | $ | 87,945 |  |
Adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2023 |  |  | — |  | $ | (4,195 | ) | $ | — |  | $ | — |  | $ | 1,070 |  | $ | (3,125 | ) | (c) (d)
Net income (loss) |  |  | — |  |  | (163 | ) |  | — |  |  | — |  |  | 38 |  |  | (125 | ) | (c) (d)
Balance at March 31, 2023 |  |  | — |  | $ | (4,358 | ) | $ | — |  | $ | — |  | $ | 1,108 |  | $ | (3,250 | ) |
As Restated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2023 |  |  | 20,806,186 |  | $ | (79,393 | ) | $ | 2 |  | $ | 164,180 |  | $ | 1,070 |  | $ | 85,859 |  |
Net income (loss) |  |  | — |  |  | (1,306 | ) |  | — |  |  | — |  |  | 38 |  |  | (1,268 | ) |
Balance at March 31, 2023 |  |  | 20,825,792 |  | $ | (80,699 | ) | $ | 2 |  | $ | 164,284 |  | $ | 1,108 |  | $ | 84,695 |  |
As Previously Reported |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at March 31, 2023 |  |  | 20,825,792 |  | $ | (76,341 | ) | $ | 2 |  | $ | 164,284 |  | $ | — |  | $ | 87,945 |  |
Net loss |  |  | — |  |  | (1,718 | ) |  | — |  |  | — |  |  | — |  |  | (1,718 | ) |
Balance at June 30, 2023 |  |  | 21,154,425 |  | $ | (78,059 | ) | $ | 2 |  | $ | 165,434 |  | $ | — |  | $ | 87,377 |  |
Adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at March 31, 2023 |  |  | — |  | $ | (4,358 | ) | $ | — |  | $ | — |  | $ | 1,108 |  | $ | (3,250 | ) | (c) (d)
Net income (loss) |  |  | — |  |  | (170 | ) |  | — |  |  | — |  |  | 45 |  |  | (125 | ) | (c) (d)
Balance at June 30, 2023 |  |  | — |  | $ | (4,528 | ) | $ | — |  | $ | — |  | $ | 1,153 |  | $ | (3,375 | ) |
As Restated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at March 31, 2023 |  |  | 20,825,792 |  | $ | (80,699 | ) | $ | 2 |  | $ | 164,284 |  | $ | 1,108 |  | $ | 84,695 |  |
Net income (loss) |  |  | — |  |  | (1,888 | ) |  | — |  |  | — |  |  | 45 |  |  | (1,843 | ) |
Balance at June 30, 2023 |  |  | 21,154,425 |  | $ | (82,587 | ) | $ | 2 |  | $ | 165,434 |  | $ | 1,153 |  | $ | 84,002 |  |
As Previously Reported |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2023 |  |  | 21,154,425 |  | $ | (78,059 | ) | $ | 2 |  | $ | 165,434 |  | $ | — |  | $ | 87,377 |  |
Net loss |  |  | — |  |  | (588 | ) |  | — |  |  | — |  |  | — |  |  | (588 | ) |
Balance at September 30, 2023 |  |  | 21,154,425 |  | $ | (78,647 | ) | $ | 2 |  | $ | 165,490 |  | $ | — |  | $ | 86,845 |  |
Adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2023 |  |  | — |  | $ | (4,528 | ) | $ | — |  | $ | — |  | $ | 1,153 |  | $ | (3,375 | ) | (c) (d)
Net income (loss) |  |  | — |  |  | (184 | ) |  | — |  |  | — |  |  | 59 |  |  | (125 | ) | (c) (d)
Balance at September 30, 2023 |  |  | — |  | $ | (4,712 | ) | $ | — |  | $ | — |  | $ | 1,212 |  | $ | (3,500 | ) |
As Restated |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2023 |  |  | 21,154,425 |  | $ | (82,587 | ) | $ | 2 |  | $ | 165,434 |  | $ | 1,153 |  | $ | 84,002 |  |
Net income (loss) |  |  | — |  |  | (772 | ) |  | — |  |  | — |  |  | 59 |  |  | (713 | ) |
Balance at September 30, 2023 |  |  | 21,154,425 |  | $ | (83,359 | ) | $ | 2 |  | $ | 165,490 |  | $ | 1,212 |  | $ | 83,345 |  |
GAIA, INC. Condensed Consolidated Statement of Cash Flows
|  | Three Months Ended March 31, 2022 (unaudited) |  | Six Months Ended June 30, 2022 (unaudited) |  | Nine Months Ended September 30, 2022 (unaudited) |
(in thousands) |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 86 |  | $ | (125 | ) | (c) | $ | (39 | ) | $ | 202 |  | $ | (250 | ) | (c) | $ | (48 | ) | $ | (2,173 | ) | $ | (375 | ) | (c) | $ | (2,548 | )
Income (loss) from continuing operations |  |  | 247 |  |  | (125 | ) |  |  | 122 |  |  | 495 |  |  | (250 | ) |  |  | 245 |  |  | (1,873 | ) |  | (375 | ) |  |  | (2,248 | )
Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to media library |  |  | — |  |  | (2,803 | ) | (a) |  | (2,803 | ) |  | — |  |  | (5,100 | ) | (a) |  | (5,100 | ) |  | — |  |  | (7,482 | ) | (a) |  | (7,482 | )
Equity method investment losses |  |  | — |  |  | 125 |  | (c) |  | 125 |  |  | — |  |  | 250 |  | (c) |  | 250 |  |  | — |  |  | 375 |  | (c) |  | 375 |
Net cash provided by operating activities - continuing operations |  |  | 4,164 |  |  | (2,803 | ) |  |  | 1,361 |  |  | 6,688 |  |  | (5,100 | ) |  |  | 1,588 |  |  | 8,373 |  |  | (7,482 | ) |  |  | 891 |
Net cash provided by operating activities |  |  | 4,003 |  |  | (2,803 | ) |  |  | 1,200 |  |  | 6,395 |  |  | (5,100 | ) |  |  | 1,295 |  |  | 8,073 |  |  | (7,482 | ) |  |  | 591 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to media library, property and equipment |  |  | (4,981 | ) |  | 2,803 |  | (a) |  | (2,178 | ) |  | (9,572 | ) |  | 5,100 |  | (a) |  | (4,472 | ) |  | (14,056 | ) |  | 7,482 |  | (a) |  | (6,574 | )
Net cash used in investing activities |  |  | (5,828 | ) |  | 2,803 |  |  |  | (3,025 | ) |  | (10,419 | ) |  | 5,100 |  |  |  | (5,319 | ) |  | (14,903 | ) |  | 7,482 |  |  |  | (7,421 | )
|  | Three Months Ended March 31, 2023 (unaudited) |  |  | Six Months Ended June 30, 2023 (unaudited) |  |  | Nine Months Ended September 30, 2023 (unaudited) |
(in thousands) |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |  |  | As Previously Reported |  | Adjustment |  | Ref. | As Restated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (1,143 | ) | $ | (125 | ) | (c) | $ | (1,268 | ) |  | $ | (2,861 | ) | $ | (250 | ) | (c) | $ | (3,111 | ) |  | $ | (3,449 | ) | $ | (375 | ) | (c) | $ | (3,824 | )
Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to media library |  |  | — |  |  | (2,452 | ) | (a) |  | (2,452 | ) |  |  | — |  |  | (5,210 | ) | (a) |  | (5,210 | ) |  |  | — |  |  | (7,396 | ) | (a) |  | (7,396 | )
Equity method investment losses |  |  | — |  |  | 125 |  | (c) |  | 125 |  |  |  | — |  |  | 250 |  | (c) |  | 250 |  |  |  | — |  |  | 375 |  | (c) |  | 375 |
Net cash provided by operating activities |  |  | 3,138 |  |  | (2,452 | ) |  |  | 686 |  |  |  | 6,480 |  |  | (5,210 | ) |  |  | 1,270 |  |  |  | 10,081 |  |  | (7,396 | ) |  |  | 2,685 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to media library, property and equipment |  |  | (3,870 | ) |  | 2,452 |  | (a) |  | (1,418 | ) |  |  | (7,119 | ) |  | 5,210 |  | (a) |  | (1,909 | ) |  |  | (10,371 | ) |  | 7,396 |  | (a) |  | (2,975 | )
Net cash used in investing activities |  |  | (3,870 | ) |  | 2,452 |  |  |  | (1,418 | ) |  |  | (7,119 | ) |  | 5,210 |  |  |  | (1,909 | ) |  |  | (10,371 | ) |  | 7,396 |  |  |  | (2,975 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from short-term borrowings |  |  | 7,500 |  |  | (1,200 | ) | (b) |  | 6,300 |  |  |  | 12,600 |  |  | — |  |  |  | 12,600 |  |  |  | 19,900 |  |  | — |  |  |  | 19,900 |
Repayment of debt |  |  | (7,504 | ) |  | 1,200 |  | (b) |  | (6,304 | ) |  |  | (12,686 | ) |  | — |  |  |  | (12,686 | ) |  |  | (19,985 | ) |  | — |  |  |  | (19,985 | )
Net cash (used in) provided by financing activities |  |  | 18 |  |  | — |  |  |  | 18 |  |  |  | (44 | ) |  | — |  |  |  | (44 | ) |  |  | (43 | ) |  | — |  |  |  | (43 | )

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147482964/270-10-50-1B Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 270 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//270/tableOfContent + Details
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