Gaia (GAIA) 10-Q 7 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 04, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Trading Symbol	GAIA
Entity Registrant Name	GAIA, INC
Entity Central Index Key	0001089872
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	000-27517
Entity Tax Identification Number	84-1113527
Entity Address, Address Line One	833 WEST SOUTH BOULDER ROAD
Entity Address, City or Town	LOUISVILLE
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80027
City Area Code	303
Local Phone Number	222-3600
Entity Interactive Data Current	Yes
Title of 12(b) Security	Class A Common Stock
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	CO
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		15,406,186
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,400,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 10,841	$ 10,269
Accounts receivable	3,121	2,728
Prepaid expenses and other current assets	2,738	1,986
Total current assets	16,700	14,983
Media library, software and equipment, net	53,160	50,558
Right-of-use lease asset, net	7,290	7,871
Real estate, investment and other assets, net	30,839	31,394
Goodwill	28,870	28,870
Total assets	136,859	133,676
Current liabilities:
Accounts payable, accrued and other liabilities	12,303	14,822
Short-term debt and lease liability	7,647	140
Deferred revenue	14,574	14,847
Total current liabilities	34,524	29,809
Long-term mortgage, net	5,996	6,109
Long-term lease liability	6,678	7,234
Deferred taxes	309	309
Total liabilities	47,507	43,461
Shareholders' equity:
Additional paid-in capital	163,626	162,316
Accumulated deficit	(74,276)	(72,103)
Total shareholders' equity	89,352	90,215
Total liabilities and shareholders' equity	136,859	133,676
Class A Common Stock [Member]
Shareholders' equity:
Common stock	1	1
Class B Common Stock [Member]
Shareholders' equity:
Common stock	$ 1	$ 1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Class A Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	15,406,186	15,061,337
Common stock, shares outstanding	15,406,186	15,061,337
Class B Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	5,400,000	5,400,000
Common stock, shares outstanding	5,400,000	5,400,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues, net	$ 19,907	$ 20,405	$ 62,458	$ 58,744
Cost of revenues	2,648	2,626	8,312	7,573
Gross profit	17,259	17,779	54,146	51,171
Expenses:
Selling and operating	15,543	15,544	48,197	44,820
Corporate, general and administration	2,019	1,509	5,598	4,506
Acquisition costs			49
Total operating expenses	17,562	17,053	53,844	49,326
Income from operations	(303)	726	302	1,845
Interest and other expense, net	(65)	(79)	(175)	(197)
Anticipated SEC settlement	(2,000)		(2,000)
Income before income taxes	(2,368)	647	(1,873)	1,648
Income from continuing operations	(2,368)	647	(1,873)	1,648
Loss from discontinued operations	(7)		(300)
Net income	$ (2,375)	$ 647	$ (2,173)	$ 1,648
Basic
Continuing operations	$ (0.11)	$ 0.03	$ (0.09)	$ 0.09
Discontinued operations			(0.01)
Basic earnings (loss) per share	(0.11)	0.03	(0.10)	0.09
Diluted
Continuing operations	(0.11)	0.03	(0.09)	0.08
Discontinued operations			(0.01)
Diluted earnings (loss) per share	$ (0.11)	$ 0.03	$ (0.10)	$ 0.08
Weighted-average shares outstanding:
Basic	20,806	19,318	20,686	19,262
Diluted	20,806	19,812	20,686	19,787

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Accumulated Deficit	Common Stock	Additional Paid-in Capital
Beginning balance at Dec. 31, 2020	$ 74,235	$ (75,834)	$ 2	$ 150,067
Beginning balance (in shares) at Dec. 31, 2020			19,182,951
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan and share-based compensation	684			684
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan and share-based compensation (in shares)			17,895
Net income (loss)	358	358
Ending balance at Mar. 31, 2021	75,277	(75,476)	$ 2	150,751
Ending balance (in shares) at Mar. 31, 2021			19,200,846
Beginning balance at Dec. 31, 2020	74,235	(75,834)	$ 2	150,067
Beginning balance (in shares) at Dec. 31, 2020			19,182,951
Share-based compensation	1,236
Net income (loss)	1,648
Ending balance at Sep. 30, 2021	77,871	(74,186)	$ 2	152,055
Ending balance (in shares) at Sep. 30, 2021			19,317,987
Beginning balance at Mar. 31, 2021	75,277	(75,476)	$ 2	150,751
Beginning balance (in shares) at Mar. 31, 2021			19,200,846
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan, stock option exercises and share-based compensation	771			771
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan, stock option exercises and share-based compensation (in shares)			117,141
Net income (loss)	643	643
Ending balance at Jun. 30, 2021	76,691	(74,833)	$ 2	151,522
Ending balance (in shares) at Jun. 30, 2021			19,317,987
Share-based compensation	533			533
Net income (loss)	647	647
Ending balance at Sep. 30, 2021	77,871	(74,186)	$ 2	152,055
Ending balance (in shares) at Sep. 30, 2021			19,317,987
Beginning balance at Dec. 31, 2021	90,215	(72,103)	$ 2	162,316
Beginning balance (in shares) at Dec. 31, 2021			20,461,337
Issuance of Gaia, Inc. common stock for RSU releases and share-based compensation	540			540
Issuance of Gaia, Inc. common stock for RSU releases and share-based compensation (in shares)			313,823
Net income (loss)	86	86
Ending balance at Mar. 31, 2022	90,841	(72,017)	$ 2	162,856
Ending balance (in shares) at Mar. 31, 2022			20,775,160
Beginning balance at Dec. 31, 2021	90,215	(72,103)	$ 2	162,316
Beginning balance (in shares) at Dec. 31, 2021			20,461,337
Share-based compensation	1,267
Net income (loss)	(2,173)
Ending balance at Sep. 30, 2022	89,352	(74,276)	$ 2	163,626
Ending balance (in shares) at Sep. 30, 2022			20,806,186
Beginning balance at Mar. 31, 2022	90,841	(72,017)	$ 2	162,856
Beginning balance (in shares) at Mar. 31, 2022			20,775,160
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan and share-based compensation	433			433
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan and share-based compensation (in shares)			31,026
Net income (loss)	116	116
Ending balance at Jun. 30, 2022	91,390	(71,901)	$ 2	163,289
Ending balance (in shares) at Jun. 30, 2022			20,806,186
Share-based compensation	337			337
Net income (loss)	(2,375)	(2,375)
Ending balance at Sep. 30, 2022	$ 89,352	$ (74,276)	$ 2	$ 163,626
Ending balance (in shares) at Sep. 30, 2022			20,806,186

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net income (loss)	$ (2,173)	$ 1,648
Loss from discontinued operations	300
Income (loss) from continuing operations	(1,873)	1,648
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,009	9,641
Share-based compensation expense	1,267	1,236
Changes in operating assets and liabilities:
Accounts receivable	(393)	(565)
Prepaid expenses and other current assets	(752)	(117)
Accounts payable and accrued liabilities	(1,612)	989
Deferred revenue	(273)	1,754
Net cash provided by operating activities - continuing operations	8,373	14,586
Net cash used in operating activities - discontinued operations	(300)
Net cash provided by operating activities	8,073	14,586
Investing activities:
Additions to media library, software and equipment	(14,056)	(13,355)
Acquisitions, net of cash acquired, and purchase of intangible assets	(847)
Net cash used in investing activities	(14,903)	(13,355)
Financing activities:
Repayment of debt	(141)	(160)
Proceeds from short term borrowings	7,500
Proceeds from the issuance of common stock	43	752
Net cash provided by financing activities	7,402	592
Net change in cash	572	1,823
Cash at beginning of period	10,269	12,605
Cash at end of period	10,841	14,428
Supplemental cash flow information
Interest paid	$ 201	$ 198

Organization, Nature of Operati

Organization, Nature of Operations, and Principles of Consolidation	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Organization, Nature of Operations, and Principles of Consolidation	1. Organization, Nature of Operations, and Principles of Consolidation Gaia, Inc. operates a global digital video subscription service and on-line community that caters to a unique and underserved member base. Our digital content library includes over 10,000 titles, with a growing selection of titles available in Spanish, German and French. Our members have unlimited access to this vast library of inspiring films, cutting edge documentaries, interviews, yoga classes, transformation-related content, and more – 80 % of which is exclusively available to our members for digital streaming on most internet-connected devices anytime, anywhere, commercial free. Our mission is to create a transformational network that empowers a global conscious community. Content on our network is currently curated into four primary channels— Yoga, Transformation, Alternative Healing, and Seeking Truth— and delivered directly to our members through our streaming platform. We curate programming for these channels by producing content in our in-house production studios with a staff of media professionals. This produced and owned content currently represents approximately 75 % of our viewership. We complement our produced and owned content through long-term licensing agreements. We have prepared the accompanying unaudited interim condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”), and they include our accounts and those of our subsidiaries. Intercompany transactions and balances have been eliminated. The unaudited condensed consolidated financial position, results of operations and cash flows for the interim periods disclosed in this report are not necessarily indicative of future financial results. There have been no material changes in our significant accounting policies as described in our Annual Report on Form 10-K for the year ended December 31, 2021. On December 22, 2021 , Gaia completed the acquisition of Yoga International, Inc. (“Yoga International”). Yoga International was founded by the Himalayan Institute in 1991, as a print magazine considered by many to be an authentic voice of yoga in the West. In 2013, Yoga International transformed into a digital-only publication, and has subsequently evolved into an online platform for yoga practice and education, with more than 60 % of its current membership outside the United States. See our Annual Report on Form 10-K for the year ended December 31, 2021 for additional information regarding the Yoga International acquisition. Use of Estimates and Reclassifications The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the accompanying financial statements and disclosures. Although we base these estimates on our best knowledge of current events and actions that we may undertake in the future, actual results may be different from the estimates. We have made certain reclassifications to prior period amounts to conform to the current period presentations. Discontinued Operations Yoga International historically had a line of business focused on one-time transactional course sales. With the launch of a premium membership tier that includes this content, this line of business is being discontinued in 2022 as the contractual commitments related to this line of business lapse. The course content will be utilized as part of the premium membership tier going forward. There are no other assets or liabilities associated with this revenue stream. As this represents a strategic shift with a major effect on our operations and financial results, we have presented the results of operations related to winding up this line of business as discontinued operations on the accompanying statement of operations.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2022
Revenue Recognition [Abstract]
Revenue Recognition	2. Revenue Recognition Revenues consist primarily of subscription fees paid by our members. We present revenues net of taxes collected from members. Members are billed in advance and revenues are recognized ratably over the subscription term. Deferred revenue consists of subscription fees collected from members that have not been earned and is recognized ratably over the remaining term of the subscription. We recognize revenue on a net basis for relationships where our partners have the primary relationship, including billing and service delivery, with the member. Payments made to partners to assist in promoting our service on their platforms are expensed as marketing expenses in the period incurred. We do not allow access to our service to be provided as part of a bundle by any of our partners.

Equity and Share-Based Compensa

Equity and Share-Based Compensation	9 Months Ended
	Sep. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity and Share-Based Compensation	3. Equity and Share-Based Compensation During the first nine months of 2022 and 2021, we recognized approximately $ 1,267 and $ 1,236 , respectively, of share-based compensation expense. Total share-based compensation expense is reported in selling and operating expenses and corporate, general and administration expenses on our condensed consolidated statements of operations. There were no options exercised during the first nine months of 2022 and 90,000 options exercised during the first nine months of 2021 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	4. Goodwill and Other Intangible Assets There were no changes in goodwill for the period from December 31, 2021 through September 30, 2022. The following table represents our other intangible assets by major asset class as of the dates indicated, which are included in Real estate, investment and other assets, net on the accompanying condensed consolidated balance sheets as of September 30, 2022 and December 31, 2021. (in thousands) September 30, 2022 December 31, 2021 Amortizable Intangible Assets Customer relationships $ 2,000 $ 2,000 Tradenames 270 270 Accumulated amortization ( 437 ) ( 12 ) $ 1,833 $ 2,258 Unamortized Intangible Assets Domain names $ 563 $ 563 Our amortizable assets are expected to be amortized on a straight-line basis over 48 months. Amortization expense was $ 142 and $ 425 for the three and nine months ended September 30, 2022 . There was no amortization expense for the three and nine months ended September 30, 2021. Future amortization of our amortizable intangible assets as of September 30, 2022 is expected to be as follows: (in thousands) 2022 (remaining) $ 142 2023 568 2024 568 2025 555 $ 1,833

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	5. Debt On August 25, 2022 (the "Closing Date"), Gaia, as borrower, and certain subsidiaries, as guarantors, entered into a Credit and Security Agreement (the "Credit Agreement") with KeyBank National Association ("KeyBank"). The Credit Agreement provides for a revolving credit facility in an aggregate amount of up to $ 10,000 with a sublimit of $ 1,000 available for issuances of letters of credit. Borrowings under the Credit Agreement are available for working capital and general corporate purposes, but not to fund any permitted acquisitions or other investments. On September 30, 2022, $ 7,500 was drawn under the Credit Agreement, which is included in Short-term debt and lease liability on the accompanying condensed consolidated balance sheet as of September 30, 2022. Loans made, or letters of credit issued, under the Credit Agreement mature on August 25, 2025 and are secured (subject to permitted liens and other exceptions) by a first priority lien on all business assets, including intellectual property, of Gaia and the subsidiary guarantors. Any advance under the Credit Agreement shall bear interest at the Daily Simple SOFR rate (subject to a floor of 0.00 %), plus, the SOFR Index Adjustment of 0.10 %, plus a margin of 2.00 %; provided, that, during the existence of a Benchmark Unavailability Period or a SOFR Unavailability Period, advances shall bear interest at the Base Rate, which is a fluctuating interest rate per annum equal to the highest of (i) the Federal Funds Rate plus 0.50 %, (ii) KeyBank’s “prime rate,” (iii) SOFR and (iv) 3.00 %, plus, in each instance, a margin of 1.00 %. The aggregate outstanding amount of advances under the Credit Agreement is required to be $ 0 for at least 30 consecutive days during the period commencing on the 12-month anniversary of the Closing Date and ending on the 24-month anniversary of the Closing Date. The Credit Agreement contains customary affirmative and negative covenants (each with customary exceptions), including limitations on the Company’s ability to incur liens or debt, make investments, pay dividends, enter into transactions with its affiliates and engage in certain fundamental changes. Additionally, the Credit Agreement requires Gaia to maintain a Fixed Charge Coverage Ratio of not less than 1.20 to 1.00 and to not permit the Leverage Ratio to exceed 1.50 to 1.00 for any computation period. On September 9, 2020, our wholly owned subsidiary Boulder Road LLC (“Boulder Road”) sold a 50 % undivided interest in a portion of our corporate campus to Westside Boulder, LLC (“Westside”). Boulder Road retained a 50 % undivided interest in the property as well as full ownership of our studio and production facilities. On December 28, 2020, Boulder Road and Westside entered into a loan agreement with Great Western Bank, as lender, providing for a mortgage in the principal amount of $ 13,000 . The mortgage bears interest at a fixed rate of 3.75 % per annum, matures on December 28, 2025 , and is secured by a deed of trust on our corporate campus, a portion of which is owned by Boulder Road and Westside as tenants-in-common and the remainder of which is owned by Boulder Road. Westside and Boulder Road each received 50 % of the proceeds and are each responsible for 50 % of the monthly installments. Gaia guaranteed payment of the mortgage. The mortgage is subject to certain financial covenants related to the underlying property. Maturities on long-term debt, net are: (in thousands) 2022 (remaining) $ 36 2023 150 2024 156 2025 5,801 $ 6,143

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	6. Leases In connection with the sale of a portion of our corporate campus as further discussed in Note 5, we leased the property pursuant to a master lease for an initial term extending through September 30, 2030, with two five-year extensions . We record the right to use the underlying asset for the operating lease term as an asset and our obligation to make lease payments as a liability, based on the present value of the lease payments over the initial lease term. On commencement of the lease, we recorded a right-of-use asset and operating lease liability of $ 8,800 . Because the rate implicit in the lease is not readily determinable, we used our incremental borrowing rate to determine the present value of lease payments. Information related to our right-of-use asset and related lease liability were as follows: September 30, December 31, (in thousands) Balance Sheet Classification 2022 2021 Right-of-use asset Right-of-use lease asset, net $ 7,290 $ 7,871 Operating lease liability (current) Accounts payable, accrued and other liabilities $ 738 $ 718 Operating lease liability (non-current) Long-term lease liability 6,678 7,234 $ 7,416 $ 7,952 For the Three Months Ended September 30, (in thousands) 2022 2021 Cash paid for operating lease liabilities $ 250 $ 250 For the Nine Months Ended September 30, (in thousands) 2022 2021 Cash paid for operating lease liabilities $ 750 $ 750 Operating lease expense is recognized on a straight-line basis over the lease term. Future amortization of our lease liability as of September 30, 2022 is expected to be: (in thousands) 2022 (remaining) $ 250 2023 1,001 2024 1,008 2025 1,035 2026 1,064 Thereafter 4,253 Future lease payments, gross 8,611 Less: Imputed interest ( 1,195 ) Operating lease liability $ 7,416

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	7. Earnings Per Share Basic earnings per share is computed using the weighted-average number of outstanding shares of common stock during the period. Diluted earnings per share is computed using the weighted-average number of outstanding shares of common stock and, when dilutive, potential shares of common stock outstanding during the period (“common stock equivalents”). Common stock equivalents consist of incremental shares issuable upon the assumed exercise of stock options and vesting of restricted stock units utilizing the treasury stock method. The weighted-average diluted shares outstanding computation is: For the Three Months Ended September 30, For the Nine Months Ended September 30, (in thousands, except per share data) 2022 2021 2022 2021 (unaudited) (unaudited) Weighted-average common stock outstanding 20,806 19,318 20,686 19,262 Common stock equivalents — 494 — 525 Weighted-average number of shares 20,806 19,812 20,686 19,787 Employee stock options with exercise prices greater than the average market price of the common stock were excluded from the diluted calculation as their inclusion would have been anti-dilutive. The following table summarizes the potential shares of common stock excluded from the diluted calculation: For the Three Months Ended September 30, For the Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 (unaudited) (unaudited) Common stock equivalents excluded due to net loss 6 — 97 — Employee stock options and RSUs 976 31 672 31 982 31 769 31

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes Periodically, we perform assessments of the realization of our net deferred tax assets considering all available evidence, both positive and negative. Based on our historical operating losses, combined with our plans to continue to invest in our revenue growth and content library, we have a full valuation allowance on our deferred tax assets as of September 30, 2022. As of September 30, 2022, our net operating loss carryforwards on a gross basis were $ 76,976 and $ 20,760 for federal and state, respectively.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Contingencies	9. Contingencies From time to time, we are involved in legal proceedings that we consider to be in the normal course of business. We record accruals for losses related to those matters against us that we consider to be probable and that can be reasonably estimated. Based on available information, in the opinion of management, settlements, arbitration awards and final judgments, if any, that are considered probable of being rendered against us in litigation or arbitration in existence at September 30, 2022 and that can be reasonably estimated are either reserved against or would not have a material adverse effect on our financial condition, results of operations or cash flows. SEC Investigation and Anticipated Settlement In June 2020, Gaia received a request for voluntary production of documents in an investigation by the staff of the Denver Regional Office (the “Staff”) of the U.S. Securities and Exchange Commission (the “SEC”). Since that time, Gaia has responded to the initial voluntary requests and subsequent subpoenas issued by the Staff. In September 2022, Gaia and Gaia's Chief Financial Officer (“CFO”) reached an agreement in principle with the Staff on a framework for a complete resolution of the investigation. The agreement in principle contemplates that Gaia would consent, without admitting or denying any findings, to the entry of an administrative order: (1) finding that Gaia (a) misstated in its April 29, 2019 earnings release and earnings call the number of paying subscribers for the period ending March 31, 2019, a quarter during which Gaia extended a free month of service to certain subscribers in the midst of a transition to a new enterprise-wide data system and (b) failed to comply with SEC whistleblower protection requirements with respect to the termination of one employee and the language used in severance agreements for other employees; and (2) requiring Gaia to pay a total civil monetary penalty of $ 2,000 over a one-year period for these violations. At the same time, the CFO would consent, without admitting or denying any findings, to the entry of an administrative order: (1) finding that the CFO caused Gaia's misstatements in the April 29, 2019 earnings release and earnings call that is described above; and (2) requiring the CFO to pay a civil monetary penalty of $ 50 . The contemplated settlement with Gaia and the CFO involve violations that require only negligence rather than intentional conduct. There can be no assurance that the contemplated settlement will be finalized and approved. Based on Gaia's agreement in principle with the Staff, however, Gaia has accrued a liability in the amount of $ 2,000 . This liability is included in Accounts payable, accrued and other liabilities on the accompanying condensed consolidated balance sheets and as a separate line in the condensed consolidated statements of operations.

Organization, Nature of Opera_2

Organization, Nature of Operations, and Principles of Consolidation (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Use of Estimates and Reclassifications	Use of Estimates and Reclassifications The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the accompanying financial statements and disclosures. Although we base these estimates on our best knowledge of current events and actions that we may undertake in the future, actual results may be different from the estimates. We have made certain reclassifications to prior period amounts to conform to the current period presentations.
Discontinued Operations	Discontinued Operations Yoga International historically had a line of business focused on one-time transactional course sales. With the launch of a premium membership tier that includes this content, this line of business is being discontinued in 2022 as the contractual commitments related to this line of business lapse. The course content will be utilized as part of the premium membership tier going forward. There are no other assets or liabilities associated with this revenue stream. As this represents a strategic shift with a major effect on our operations and financial results, we have presented the results of operations related to winding up this line of business as discontinued operations on the accompanying statement of operations.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Other Intangible Assets by Major Asset Class	The following table represents our other intangible assets by major asset class as of the dates indicated, which are included in Real estate, investment and other assets, net on the accompanying condensed consolidated balance sheets as of September 30, 2022 and December 31, 2021. (in thousands) September 30, 2022 December 31, 2021 Amortizable Intangible Assets Customer relationships $ 2,000 $ 2,000 Tradenames 270 270 Accumulated amortization ( 437 ) ( 12 ) $ 1,833 $ 2,258 Unamortized Intangible Assets Domain names $ 563 $ 563
Schedule of Future Amortization Expense of Intangible Assets	Future amortization of our amortizable intangible assets as of September 30, 2022 is expected to be as follows: (in thousands) 2022 (remaining) $ 142 2023 568 2024 568 2025 555 $ 1,833

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Maturities on Long Term Debt, Net	Maturities on long-term debt, net are: (in thousands) 2022 (remaining) $ 36 2023 150 2024 156 2025 5,801 $ 6,143

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Right of Use Asset and Related Lease Liability and Supplemental Cash Flow Information	Because the rate implicit in the lease is not readily determinable, we used our incremental borrowing rate to determine the present value of lease payments. Information related to our right-of-use asset and related lease liability were as follows: September 30, December 31, (in thousands) Balance Sheet Classification 2022 2021 Right-of-use asset Right-of-use lease asset, net $ 7,290 $ 7,871 Operating lease liability (current) Accounts payable, accrued and other liabilities $ 738 $ 718 Operating lease liability (non-current) Long-term lease liability 6,678 7,234 $ 7,416 $ 7,952 For the Three Months Ended September 30, (in thousands) 2022 2021 Cash paid for operating lease liabilities $ 250 $ 250 For the Nine Months Ended September 30, (in thousands) 2022 2021 Cash paid for operating lease liabilities $ 750 $ 750
Schedule of Future Amortization of Lease Liability	Operating lease expense is recognized on a straight-line basis over the lease term. Future amortization of our lease liability as of September 30, 2022 is expected to be: (in thousands) 2022 (remaining) $ 250 2023 1,001 2024 1,008 2025 1,035 2026 1,064 Thereafter 4,253 Future lease payments, gross 8,611 Less: Imputed interest ( 1,195 ) Operating lease liability $ 7,416

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Weighted-Average Diluted Shares Outstanding	The weighted-average diluted shares outstanding computation is: For the Three Months Ended September 30, For the Nine Months Ended September 30, (in thousands, except per share data) 2022 2021 2022 2021 (unaudited) (unaudited) Weighted-average common stock outstanding 20,806 19,318 20,686 19,262 Common stock equivalents — 494 — 525 Weighted-average number of shares 20,806 19,812 20,686 19,787
Summary of Potential Common Shares Excluded from Diluted Calculation	The following table summarizes the potential shares of common stock excluded from the diluted calculation: For the Three Months Ended September 30, For the Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 (unaudited) (unaudited) Common stock equivalents excluded due to net loss 6 — 97 — Employee stock options and RSUs 976 31 672 31 982 31 769 31

Organization, Nature of Opera_3

Organization, Nature of Operations, and Principles of Consolidation - Additional Information (Detail)		9 Months Ended
	Dec. 22, 2021	Sep. 30, 2022 USD ($) Title Channel
Organization Nature Of Operations And Principles Of Consolidation [Line Items]
Number of channels | Channel		4
Percentage of produced and owned content views		75%
A La Carte Course Purchase [Member]
Organization Nature Of Operations And Principles Of Consolidation [Line Items]
Assets		$ 0
Liabilities		$ 0
Yoga International [Member]
Organization Nature Of Operations And Principles Of Consolidation [Line Items]
Acquisition date	Dec. 22, 2021
Yoga International [Member] | Outside United States [Member]
Organization Nature Of Operations And Principles Of Consolidation [Line Items]
Minimum current membership percentage outside United States	60%
Minimum [Member]
Organization Nature Of Operations And Principles Of Consolidation [Line Items]
Number of titles available in digital content library | Title		10,000
Percentage of digital streaming exclusively available for subscribers		80%

Equity and Share-Based Compen_2

Equity and Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation expense	$ 337	$ 533	$ 1,267	$ 1,236
Options exercised during period			0	90,000

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Goodwill [Line Items]
Changes in goodwill			$ 0		$ 0
Customer Relationships [Member]
Goodwill [Line Items]
Intangible assets, useful life			48 months
Intangible assets, amortization method			straight-line basis
Intangible assets, amortization expense	$ 142,000	$ 0	$ 425,000	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Other Unamortized Intangible Assets Included in Real Estate, Investments and Other Assets, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Goodwill [Line Items]
Amortizable Intangible Assets, Accumulated amortization	$ (437)	$ (12)
Amortizable Intangible Assets, Net	1,833	2,258
Customer Relationships [Member]
Goodwill [Line Items]
Amortizable Intangible Assets, Gross carrying amount	2,000	2,000
Trade Names [Member]
Goodwill [Line Items]
Amortizable Intangible Assets, Gross carrying amount	270	270
Domain Names [Member]
Goodwill [Line Items]
Unamortized Intangible Assets	$ 563	$ 563

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Future Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
2022 (remaining)	$ 142
2023	568
2024	568
2025	555
Amortizable Intangible Assets, Net	$ 1,833	$ 2,258

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)			9 Months Ended
	Dec. 28, 2020	Sep. 09, 2020	Sep. 30, 2022	Aug. 25, 2022
Credit Agreement [Member] | Keybank [Member]
Debt Instrument [Line Items]
Outstanding amount under credit facility			$ 7,500,000
Required aggregate outstanding amount for period of 30 consecutive days			$ 0
Number of days considered for calculation of aggregate outstanding amount			30 days
Minimum required fixed charge coverage ratio			1.20
Maximum required leverage ratio			1.50
Line of credit facility, expiration			Aug. 25, 2025
Credit Agreement [Member] | Keybank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility				$ 10,000,000
Credit Agreement [Member] | Keybank [Member] | Letters of Credit [Member]
Debt Instrument [Line Items]
Sublimit for letter of credit facility				$ 1,000,000
Credit Agreement [Member] | Keybank [Member] | Floor Rate [Member]
Debt Instrument [Line Items]
Interest rate			0%
Credit Agreement [Member] | Keybank [Member] | SOFR [Member]
Debt Instrument [Line Items]
Percentage of adjustment to floor interest rate			0.10%
Credit Agreement [Member] | Keybank [Member] | Margin [Member]
Debt Instrument [Line Items]
Percentage of adjustment to floor interest rate			2%
Credit Agreement [Member] | Keybank [Member] | Benchmark or SOFR Unavailability Period [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate			3%
Credit Agreement [Member] | Keybank [Member] | Benchmark or SOFR Unavailability Period [Member] | Margin [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage of adjustment to floor interest rate			1%
Credit Agreement [Member] | Keybank [Member] | Benchmark or SOFR Unavailability Period [Member] | Federal Funds Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage of adjustment to floor interest rate			0.50%
Boulder Road LLC [Member]
Debt Instrument [Line Items]
Subsidiary interest percentage		50%
Boulder Road and Westside Boulder, LLC [Member] | Loan Agreement [Member] | Great Western Bank [Member] | Mortgage Loan [Member]
Debt Instrument [Line Items]
Loan principal amount	$ 13,000,000
Interest rate	3.75%
Debt instrument, maturity date	Dec. 28, 2025
Percentage of line of credit proceeds	50%
Percentage of line of credit monthly installments	50%
Westside Boulder, LLC. [Member] | Boulder Road LLC [Member]
Debt Instrument [Line Items]
Undivided interest sold percentage		50%

Debt - Schedule of Maturities o

Debt - Schedule of Maturities on Long Term Debt, Net (Detail) $ in Thousands	Sep. 30, 2022 USD ($)
Maturities Of Long Term Debt [Abstract]
2022 (remaining)	$ 36
2023	150
2024	156
2025	5,801
Total maturities on long-term debt	$ 6,143

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 09, 2020
Lessee Lease Description [Line Items]
Operating lease, extending Description	we leased the property pursuant to a master lease for an initial term extending through September 30, 2030, with two five-year extensions
Operating lease, existence of option to extend [true false]	true
Right-of-use lease asset, net	$ 7,290	$ 7,871	$ 8,800
Operating lease liability	$ 7,416	$ 7,952	$ 8,800
Two Five Year Extensions [Member]
Lessee Lease Description [Line Items]
Operating lease, Renewal Term	5 years

Leases - Schedule of Right of U

Leases - Schedule of Right of Use Asset and Related Lease Liability (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 09, 2020
Leases [Abstract]
Right-of-use asset	$ 7,290	$ 7,871	$ 8,800
Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List	Right-of-use asset	Right-of-use asset
Operating lease liability (current)	$ 738	$ 718
Operating Lease Liability Current Statement Of Financial Position Extensible List	Accounts payable, accrued and other liabilities	Accounts payable, accrued and other liabilities
Operating lease liability (non-current)	$ 6,678	$ 7,234
Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List	Operating lease liability (non-current)	Operating lease liability (non-current)
Operating Lease, Liability	$ 7,416	$ 7,952	$ 8,800

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Cash paid for operating lease liabilities	$ 250	$ 250	$ 750	$ 750

Leases - Schedule of Future Amo

Leases - Schedule of Future Amortization of Lease Liability (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 09, 2020
Leases [Abstract]
2022 (remaining)	$ 250
2023	1,001
2024	1,008
2025	1,035
2026	1,064
Thereafter	4,253
Future lease payments, gross	8,611
Less: Imputed interest	(1,195)
Operating lease liability	$ 7,416	$ 7,952	$ 8,800

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Weighted-Average Diluted Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Weighted-average common stock outstanding	20,806	19,318	20,686	19,262
Common stock equivalents		494		525
Weighted-average number of shares	20,806	19,812	20,686	19,787

Earnings Per Share - Summary of

Earnings Per Share - Summary of Potential Common Shares Excluded from Diluted Calculation (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	982	31	769	31
Employee Stock Options and RSUs [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	976	31	672	31
Common Stock Equivalents Excluded due to Net Loss [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	6		97

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Thousands	Sep. 30, 2022 USD ($)
Federal [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	$ 76,976
State [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	$ 20,760

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Thousands	Sep. 30, 2022 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Civil monetary penalty to be paid	$ 2,000
Civil monetary penalty to be paid by CFO	50
Accrued penalty liabilities	$ 2,000