| Segment Information |
10. Segment Information
We manage our company and aggregate our operational and financial
information in accordance with two reportable segments, which are
aligned based on their products or services:
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| Gaiam Brand: |
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This segment includes all our branded yoga,
fitness, and wellness products. It also includes our eco-travel
subsidiary. |
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| Gaiam TV: |
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This segment includes our digital video
streaming service. It also includes the results of Boulder Road LLC
from January 1, 2015 forward. We previously announced that we
are pursuing the potential spin off of this segment into a separate
company. |
Amounts shown as “Other unallocated corporate expenses”
in the table below, are primarily expenses of being a public
company, and legal costs associated with the proposed spin-off of
Gaiam TV, which we do not allocate to our segments. Although we are
able to track sales by channel, the management, allocation of
resources, and analysis and reporting of expenses are presented on
a combined basis, at the reportable segment level. Contribution
margin is defined as net revenue less cost of goods sold and total
operating expenses. Financial information for our segments is as
follows:
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Three Months Ended
September 30,
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Nine Months Ended
September 30,
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(in thousands)
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2015 |
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2014 |
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2015 |
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2014 |
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Net revenue:
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Gaiam Brand
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$ |
47,799 |
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$ |
38,697 |
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$ |
120,192 |
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$ |
104,047 |
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Gaiam TV
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3,501 |
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|
2,559 |
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9,892 |
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7,271 |
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Consolidated net revenue
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51,300 |
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41,256 |
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130,084 |
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111,318 |
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Contribution income (loss):
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Gaiam Brand
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4,245 |
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|
919 |
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6,363 |
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1,424 |
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Gaiam TV
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211 |
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(2,308 |
) |
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(3,225 |
) |
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(6,453 |
) |
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Segment contribution income (loss)
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4,456 |
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(1,389 |
) |
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3,138 |
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(5,029 |
) |
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Other unallocated corporate expenses
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(1,208 |
) |
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(535 |
) |
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(2,752 |
) |
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(2,528 |
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Consolidated contribution income (loss)
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3,248 |
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(1,924 |
) |
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|
386 |
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(7,557 |
) |
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Reconciliation of contribution income (loss) to net loss
attributable to Gaiam, Inc.:
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Interest and other expense, net
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(370 |
) |
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(173 |
) |
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(740 |
) |
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(108 |
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Gain on sale of investment
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— |
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— |
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— |
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1,480 |
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Income tax expense
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(447 |
) |
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(462 |
) |
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(621 |
) |
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(688 |
) |
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(Loss) income from discontinued operations
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(10,695 |
) |
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(82 |
) |
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(12,282 |
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(54 |
) |
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Net income attributable to noncontrolling interest
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(550 |
) |
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(385 |
) |
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(566 |
) |
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(621 |
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Net loss attributable to Gaiam, Inc.
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$ |
(8,814 |
) |
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$ |
(3,026 |
) |
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$ |
(13,823 |
) |
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$ |
(7,548 |
) |
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As discussed in Note 2, Gaiam TV filed an amended registration
statement on Form 10 with the SEC on September 9, 2015.
The segment amounts presented here and discussed elsewhere in this
quarterly report on Form 10-Q vary insignificantly from the
amounts reported by Gaiam TV in the Form 10, as amended, as
the Form 10 requires that certain items be recast for
stand-alone presentation.
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