Gaia (GAIA) 10-Q 30 Oct 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 27, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
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		17,609,425
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, 2023	Dec. 31, 2022
Current assets:
Cash	$ 11,229	$ 11,562
Accounts receivable	3,829	2,955
Prepaid expenses and other current assets	4,132	2,656
Total current assets	19,190	17,173
Media library, software and equipment, net	50,481	51,115
Right-of-use lease asset, net	6,492	7,093
Real estate, investment and other assets, net	30,296	30,979
Goodwill	31,943	31,943
Total assets	138,402	138,303
Current liabilities:
Accounts payable, accrued and other liabilities	14,051	12,355
Short-term debt and lease liability	9,920	894
Deferred revenue	15,334	14,124
Total current liabilities	39,305	27,373
Long-term debt, net	5,842	14,958
Long-term lease liability	5,911	6,489
Deferred taxes	499	499
Total liabilities	51,557	49,319
Shareholders equity:
Additional paid-in capital	165,490	164,180
Accumulated deficit	(78,647)	(75,198)
Total shareholders equity	86,845	88,984
Total liabilities and shareholders equity	138,402	138,303
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, 2023	Dec. 31, 2022
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	15,754,425	15,406,186
Common stock, shares outstanding	15,754,425	15,406,186
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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues, net	$ 20,223	$ 19,907	$ 59,709	$ 62,458
Cost of revenues	2,983	2,648	8,595	8,312
Gross profit	17,240	17,259	51,114	54,146
Expenses:
Selling and operating	16,254	15,543	49,462	48,197
Corporate, general and administration	1,433	2,019	4,726	5,598
Acquisition costs				49
Total operating expenses	17,687	17,562	54,188	53,844
Income (loss) from operations	(447)	(303)	(3,074)	302
Interest and other expense, net	(141)	(65)	(375)	(175)
SEC settlement		(2,000)		(2,000)
Loss before income taxes	(588)	(2,368)	(3,449)	(1,873)
Loss from continuing operations	(588)	(2,368)	(3,449)	(1,873)
Loss from discontinued operations		(7)		(300)
Net loss	$ (588)	$ (2,375)	$ (3,449)	$ (2,173)
Basic
Continuing operations	$ (0.03)	$ (0.11)	$ (0.16)	$ (0.09)
Discontinued operations				(0.01)
Basic earnings (loss) per share	(0.03)	(0.11)	(0.16)	(0.1)
Diluted
Continuing operations	(0.03)	(0.11)	(0.16)	(0.09)
Discontinued operations				(0.01)
Diluted earnings (loss) per share	$ (0.03)	$ (0.11)	$ (0.16)	$ (0.1)
Weighted-average shares outstanding:
Basic	21,154	20,806	20,951	20,686
Diluted	21,154	20,806	20,951	20,686

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, 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, stock option exercises and share-based compensation	433			433
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan, stock option exercises 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
Beginning balance at Dec. 31, 2022	88,984	(75,198)	$ 2	164,180
Beginning balance (in shares) at Dec. 31, 2022			20,806,186
Issuance of Gaia, Inc. common stock for RSU releases and share-based compensation	104			104
Issuance of Gaia, Inc. common stock for RSU releases and share-based compensation (in shares)			19,606
Net income (loss)	(1,143)	(1,143)
Ending balance at Mar. 31, 2023	87,945	(76,341)	$ 2	164,284
Ending balance (in shares) at Mar. 31, 2023			20,825,792
Beginning balance at Dec. 31, 2022	88,984	(75,198)	$ 2	164,180
Beginning balance (in shares) at Dec. 31, 2022			20,806,186
Share-based compensation	599
Net income (loss)	(3,449)
Ending balance at Sep. 30, 2023	86,845	(78,647)	$ 2	165,490
Ending balance (in shares) at Sep. 30, 2023			21,154,425
Beginning balance at Mar. 31, 2023	87,945	(76,341)	$ 2	164,284
Beginning balance (in shares) at Mar. 31, 2023			20,825,792
Issuance of Gaia, Inc. common stock for media library acquisition	669			669
Issuance of Gaia, Inc. common stock for media library acquisition (in shares)			272,980
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan, and share-based compensation	481			481
Issuance of Gaia, Inc. common stock for RSU releases, employee stock purchase plan, and share-based compensation, (in shares)			55,653
Net income (loss)	(1,718)	(1,718)
Ending balance at Jun. 30, 2023	87,377	(78,059)	$ 2	165,434
Ending balance (in shares) at Jun. 30, 2023			21,154,425
Share-based compensation	56			56
Net income (loss)	(588)	(588)
Ending balance at Sep. 30, 2023	$ 86,845	$ (78,647)	$ 2	$ 165,490
Ending balance (in shares) at Sep. 30, 2023			21,154,425

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities:
Net loss	$ (3,449)	$ (2,173)
Loss from discontinued operations		300
Loss from continuing operations	(3,449)	(1,873)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	12,702	12,009
Share-based compensation expense	599	1,267
Changes in operating assets and liabilities:
Accounts receivable	(874)	(393)
Prepaid expenses and other current assets	(1,821)	(752)
Accounts payable and accrued liabilities	1,714	(1,612)
Deferred revenue	1,210	(273)
Net cash provided by operating activities - continuing operations	10,081	8,373
Net cash used in operating activities - discontinued operations		(300)
Net cash provided by operating activities	10,081	8,073
Investing activities:
Additions to media library, software and equipment	(10,371)	(14,056)
Acquisitions, net of cash acquired, and purchase of intangible assets		(847)
Net cash used in investing activities	(10,371)	(14,903)
Financing activities:
Repayment of debt	(19,985)	(141)
Proceeds from short term borrowings	19,900	7,500
Proceeds from the issuance of common stock	42	43
Net cash provided by (used in) financing activities	(43)	7,402
Net change in cash	(333)	572
Cash at beginning of period	11,562	10,269
Cash at end of period	11,229	10,841
Supplemental cash flow information
Interest paid	394	$ 201
Value of shares issued for acquisition of content added to Media Library	$ 669

Organization, Nature of Operati

Organization, Nature of Operations, and Principles of Consolidation	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Organization, Nature of Operations, and Principles of Consolidation	1. Organization, Nature of Operations, and Principles of Consolidation Gaia, Inc. (“Gaia,” “we” or “us”) 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 – 88 % 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 organized 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 comprises approximately 75 % of our members’ viewing time. 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, 2022. 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 was discontinued in 2022 as the contractual commitments related to this line of business lapsed. 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 condensed consolidated statement of operations in 2022.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
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, 2023
Share-Based Payment Arrangement [Abstract]
Equity and Share-Based Compensation	3. Equity and Share-Based Compensation During the first nine months of 2023 and 2022, we recognized approximately $ 599 and $ 1,267 , 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 2023 or 2022 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2023
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, 2022 through September 30, 2023. 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, 2023 and December 31, 2022. (in thousands) September 30, 2023 December 31, 2022 Amortizable Intangible Assets Customer relationships $ 2,000 $ 2,000 Tradenames 270 270 Accumulated amortization ( 1,004 ) ( 579 ) $ 1,266 $ 1,691 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 for the three months ended September 30, 2023 and 2022 and $ 425 for the nine months ended September 30, 2023 and 2022 . Future amortization of our amortizable intangible assets as of September 30, 2023 is expected to be as follows: (in thousands) 2023 (remaining) $ 142 2024 568 2025 556 $ 1,266

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	5. Debt On September 9, 2020, 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. Boulder Road received consideration of $ 13.2 million in the transaction. On December 28, 2020, Boulder Road and Westside entered into a loan agreement with First Interstate Bank, as lender, providing for a mortgage loan in the principal amount of $ 13.0 million. The mortgage bears interest at a fixed rate of 3.75 % per annum, matures on December 28, 2025 , 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 loan 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. 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 $ 10.0 million with a sublimit of $ 1.0 million 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. As of September 30, 2023, $ 9.0 million was drawn under the Credit Agreement, which is included in Short-term debt and lease liability on the accompanying condensed consolidated balance sheets. 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 company expects this requirement to be satisfied during fourth quarter 2023. 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. Maturities on long-term debt, net are: (in thousands) 2023 (remaining) $ 9,038 2024 156 2025 5,801 $ 14,995

Leases

Leases	9 Months Ended
	Sep. 30, 2023
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 2023 2022 Right-of-use asset Right-of-use lease asset, net $ 6,492 $ 7,093 Operating lease liability (current) Accounts payable, accrued and other liabilities $ 767 $ 745 Operating lease liability (non-current) Long-term lease liability 5,911 6,489 $ 6,678 $ 7,234 For the Three Months Ended September 30, (in thousands) 2023 2022 Cash paid for operating lease liabilities $ 250 $ 250 For the Nine Months Ended September 30, (in thousands) 2023 2022 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, 2023 is expected to be: (in thousands) 2023 (remaining) $ 250 2024 1,008 2025 1,035 2026 1,064 2027 1,093 Thereafter 3,160 Future lease payments, gross 7,610 Less: Imputed interest ( 932 ) Operating lease liability $ 6,678

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
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) 2023 2022 2023 2022 (unaudited) (unaudited) Weighted-average common stock outstanding 21,154 20,806 20,951 20,686 Common stock equivalents — — — — Weighted-average number of shares 21,154 20,806 20,951 20,686 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) 2023 2022 2023 2022 (unaudited) (unaudited) Common stock equivalents excluded due to net loss 67 6 57 97 Employee stock options and RSUs 598 976 497 672 665 982 554 769

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
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, 2023. As of September 30, 2023, our net operating loss carryforwards on a gross basis were $ 80,490 and $ 26,416 for federal and state, respectively. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is a stimulus bill which was in response to economic consequences of the COVID-19 pandemic. The CARES Act provided an employee retention credit, which is a refundable tax credit against certain employment taxes. During the quarter ended September 30, 2023, we recorded $ 1,750 related to the employee retention credit in Selling and operating expenses in the condensed consolidated statements of operations with a related receivable balance from the United States government related to the CARES Act, which is recorded in Prepaid expenses and other current assets on our condensed consolidated balance sheets.

Non-income Taxes

Non-income Taxes	9 Months Ended
	Sep. 30, 2023
Non Income Tax Disclosure [Abstract]
Non-income Taxes	9. Non-income Taxes The Company is subject to tax examinations for Value Added Taxes (VAT). A number of these examinations are ongoing and, in certain cases, have resulted in assessments from taxing authorities. Where a VAT liability with respect to a jurisdiction is probable and can be reliably estimated, the Company accrues for these matters in corporate, general, and administration expenses in the condensed consolidated statements of operations. Future developments relating to the foregoing could result in adjustments to these accruals.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	10. 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, 2023 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events Class A Common Stock Offering On October 2, 2023, we entered into an underwriting agreement with Lake Street Capital Markets, LLC (the Underwriter) relating to the offer and sale of 1,855,000 shares of our Class A Common Stock ($ 0.0001 par value) (the Shares). We sold the Shares to the Underwriter at the public offering price of $ 2.70 per share less underwriting discounts and commissions, resulting in net proceeds of $ 4,678 . We provided a 30-day option to the Underwriter to purchase up to an additional 278,250 Shares to cover over-allotments. At time of filing, the over-allotment option was not exercised.

Organization, Nature of Opera_2

Organization, Nature of Operations, and Principles of Consolidation (Policies)	9 Months Ended
	Sep. 30, 2023
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 was discontinued in 2022 as the contractual commitments related to this line of business lapsed. 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 condensed consolidated statement of operations in 2022.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 and December 31, 2022. (in thousands) September 30, 2023 December 31, 2022 Amortizable Intangible Assets Customer relationships $ 2,000 $ 2,000 Tradenames 270 270 Accumulated amortization ( 1,004 ) ( 579 ) $ 1,266 $ 1,691 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, 2023 is expected to be as follows: (in thousands) 2023 (remaining) $ 142 2024 568 2025 556 $ 1,266

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Maturities on Long Term Debt, Net	Maturities on long-term debt, net are: (in thousands) 2023 (remaining) $ 9,038 2024 156 2025 5,801 $ 14,995

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
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 2023 2022 Right-of-use asset Right-of-use lease asset, net $ 6,492 $ 7,093 Operating lease liability (current) Accounts payable, accrued and other liabilities $ 767 $ 745 Operating lease liability (non-current) Long-term lease liability 5,911 6,489 $ 6,678 $ 7,234 For the Three Months Ended September 30, (in thousands) 2023 2022 Cash paid for operating lease liabilities $ 250 $ 250 For the Nine Months Ended September 30, (in thousands) 2023 2022 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, 2023 is expected to be: (in thousands) 2023 (remaining) $ 250 2024 1,008 2025 1,035 2026 1,064 2027 1,093 Thereafter 3,160 Future lease payments, gross 7,610 Less: Imputed interest ( 932 ) Operating lease liability $ 6,678

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
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) 2023 2022 2023 2022 (unaudited) (unaudited) Weighted-average common stock outstanding 21,154 20,806 20,951 20,686 Common stock equivalents — — — — Weighted-average number of shares 21,154 20,806 20,951 20,686
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) 2023 2022 2023 2022 (unaudited) (unaudited) Common stock equivalents excluded due to net loss 67 6 57 97 Employee stock options and RSUs 598 976 497 672 665 982 554 769

Organization, Nature of Opera_3

Organization, Nature of Operations, and Principles of Consolidation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2023 USD ($) Channel Title
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
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	88%

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense	$ 56	$ 337	$ 599	$ 1,267
Options exercised during period			0	0

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill [Line Items]
Changes in goodwill			$ 0
Customer Relationships [Member]
Goodwill [Line Items]
Intangible assets, useful life	48 months		48 months
Intangible assets, amortization method			straight-line basis
Intangible assets, amortization expense	$ 142,000	$ 142,000	$ 425,000	$ 425,000

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, 2023	Dec. 31, 2022
Goodwill [Line Items]
Amortizable Intangible Assets, Accumulated amortization	$ (1,004)	$ (579)
Amortizable Intangible Assets, Net	1,266	1,691
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, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining)	$ 142
2024	568
2025	556
Amortizable Intangible Assets, Net	$ 1,266	$ 1,691

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)			9 Months Ended
	Dec. 28, 2020	Sep. 09, 2020	Sep. 30, 2023	Aug. 25, 2022
Credit Agreement [Member] | Keybank [Member]
Debt Instrument [Line Items]
Outstanding amount under credit facility			$ 9,000,000
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			1.2
Maximum required leverage ratio			1.5
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%
Undivided interest sold consideration received		$ 13,200,000
Boulder Road and Westside Boulder, LLC [Member] | Loan Agreement [Member] | First Interstate 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, 2023 USD ($)
Maturities of Long-Term Debt [Abstract]
2023 (remaining)	$ 9,038
2024	156
2025	5,801
Total maturities on long-term debt	$ 14,995

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	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	$ 6,492	$ 7,093	$ 8,800
Operating lease liability	$ 6,678	$ 7,234	$ 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, 2023	Dec. 31, 2022	Sep. 09, 2020
Leases [Abstract]
Right-of-use asset	$ 6,492	$ 7,093	$ 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)	$ 767	$ 745
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)	$ 5,911	$ 6,489
Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List	Operating lease liability (non-current)	Operating lease liability (non-current)
Operating Lease, Liability	$ 6,678	$ 7,234	$ 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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
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, 2023	Dec. 31, 2022	Sep. 09, 2020
Leases [Abstract]
2022 (remaining)	$ 250
2023	1,008
2024	1,035
2025	1,064
2026	1,093
Thereafter	3,160
Future lease payments, gross	7,610
Less: Imputed interest	(932)
Operating lease liability	$ 6,678	$ 7,234	$ 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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Weighted-average common stock outstanding	21,154	20,806	20,951	20,686
Weighted-average number of shares	21,154	20,806	20,951	20,686

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	665	982	554	769
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	67	6	57	97
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	598	976	497	672

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($)
Income Taxes [Line Items]
Employee retention credit in Selling and operating expenses related to CARES Act	$ 1,750
Federal [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	80,490
State [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	$ 26,416

Subsequent Events- Additional I

Subsequent Events- Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Oct. 02, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Subsequent Event [Line Items]
Proceeds from the issuance of common stock		$ 42	$ 43
Class A Common Stock [Member]
Subsequent Event [Line Items]
Common stock, par value		$ 0.0001		$ 0.0001
Lake Street Capital Markets, LLC [Member] | Class A Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of share offer and sale	1,855,000
Common stock, par value	$ 0.0001
Underwriter public offering price per share	$ 2.7
Proceeds from the issuance of common stock	$ 4,678
Lake Street Capital Markets, LLC [Member] | Class A Common Stock [Member] | Over-Allotment Option [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of share offer and sale	278,250