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Side-by-side financial comparison of GAIA, INC (GAIA) and NELNET INC (NNI). Click either name above to swap in a different company.
NELNET INC is the larger business by last-quarter revenue ($33.5M vs $25.5M, roughly 1.3× GAIA, INC). NELNET INC runs the higher net margin — 172.3% vs -0.3%, a 172.5% gap on every dollar of revenue. On growth, NELNET INC posted the faster year-over-year revenue change (79.6% vs 5.8%). NELNET INC produced more free cash flow last quarter ($396.7M vs $76.0K). Over the past eight quarters, NELNET INC's revenue compounded faster (62.0% CAGR vs 9.4%).
Gaia, Inc. is a publicly traded (NASDAQ:GAIA) American media company founded in 1988 by Jirka Rysavy in Louisville, Colorado. It owns and operates Gaia TV, a subscription video on-demand service consisting of original and licensed alternative media documentaries, including those on wellness, spirituality and conspiracy theories.
Nelnet, Inc. is a United States–based conglomerate that primarily focuses on financial services including student and consumer loan origination and servicing. Additionally, the company operates an investing arm, an internet bank and has a 26% stake in Allo Fiber, a cable and internet provider. The company is headquartered in Lincoln, Nebraska.
GAIA vs NNI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $33.5M |
| Net Profit | $-75.0K | $57.8M |
| Gross Margin | 87.6% | 50.5% |
| Operating Margin | -2.6% | — |
| Net Margin | -0.3% | 172.3% |
| Revenue YoY | 5.8% | 79.6% |
| Net Profit YoY | 91.7% | -8.5% |
| EPS (diluted) | $-0.02 | $1.62 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $25.5M | $33.5M | ||
| Q3 25 | $25.0M | $23.2M | ||
| Q2 25 | $24.6M | $26.1M | ||
| Q1 25 | $23.8M | $24.7M | ||
| Q4 24 | $24.1M | $18.7M | ||
| Q3 24 | $22.0M | $16.6M | ||
| Q2 24 | $21.9M | $14.9M | ||
| Q1 24 | $21.3M | $12.8M |
| Q4 25 | $-75.0K | $57.8M | ||
| Q3 25 | $-1.2M | $106.7M | ||
| Q2 25 | $-2.0M | $181.5M | ||
| Q1 25 | $-1.2M | $82.6M | ||
| Q4 24 | $-907.0K | $63.2M | ||
| Q3 24 | $-1.2M | $2.4M | ||
| Q2 24 | $-2.2M | $45.1M | ||
| Q1 24 | $-971.0K | $73.4M |
| Q4 25 | 87.6% | 50.5% | ||
| Q3 25 | 86.4% | 29.6% | ||
| Q2 25 | 86.7% | 29.8% | ||
| Q1 25 | 87.7% | 30.5% | ||
| Q4 24 | 88.2% | 13.7% | ||
| Q3 24 | 86.1% | 0.1% | ||
| Q2 24 | 84.5% | 27.3% | ||
| Q1 24 | 85.3% | 15.3% |
| Q4 25 | -2.6% | — | ||
| Q3 25 | -5.0% | — | ||
| Q2 25 | -8.9% | — | ||
| Q1 25 | -4.3% | — | ||
| Q4 24 | -7.1% | 97.7% | ||
| Q3 24 | -5.3% | -13.4% | ||
| Q2 24 | -9.1% | 88.0% | ||
| Q1 24 | -4.0% | — |
| Q4 25 | -0.3% | 172.3% | ||
| Q3 25 | -4.6% | 460.5% | ||
| Q2 25 | -8.3% | 694.9% | ||
| Q1 25 | -5.1% | 334.4% | ||
| Q4 24 | -3.8% | 338.2% | ||
| Q3 24 | -5.4% | 14.4% | ||
| Q2 24 | -9.9% | 303.6% | ||
| Q1 24 | -4.6% | 574.4% |
| Q4 25 | $-0.02 | $1.62 | ||
| Q3 25 | $-0.05 | $2.94 | ||
| Q2 25 | $-0.07 | $4.97 | ||
| Q1 25 | $-0.04 | $2.26 | ||
| Q4 24 | $-0.03 | $1.74 | ||
| Q3 24 | $-0.05 | $0.07 | ||
| Q2 24 | $-0.09 | $1.23 | ||
| Q1 24 | $-0.05 | $1.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.5M | $296.0M |
| Total DebtLower is stronger | — | $7.8B |
| Stockholders' EquityBook value | $87.9M | $3.7B |
| Total Assets | $154.6M | $14.1B |
| Debt / EquityLower = less leverage | — | 2.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.5M | $296.0M | ||
| Q3 25 | $14.2M | $216.4M | ||
| Q2 25 | $13.9M | $225.8M | ||
| Q1 25 | $13.1M | $220.5M | ||
| Q4 24 | $5.9M | $194.5M | ||
| Q3 24 | $4.4M | $219.7M | ||
| Q2 24 | $5.5M | $145.5M | ||
| Q1 24 | $8.6M | $179.7M |
| Q4 25 | — | $7.8B | ||
| Q3 25 | — | $7.8B | ||
| Q2 25 | — | $7.9B | ||
| Q1 25 | — | $8.7B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | — | $8.9B | ||
| Q2 24 | — | $9.6B | ||
| Q1 24 | — | $10.6B |
| Q4 25 | $87.9M | $3.7B | ||
| Q3 25 | $86.3M | $3.7B | ||
| Q2 25 | $85.7M | $3.6B | ||
| Q1 25 | $87.0M | $3.4B | ||
| Q4 24 | $80.7M | $3.3B | ||
| Q3 24 | $81.2M | $3.3B | ||
| Q2 24 | $82.1M | $3.3B | ||
| Q1 24 | $84.8M | $3.3B |
| Q4 25 | $154.6M | $14.1B | ||
| Q3 25 | $151.1M | $13.9B | ||
| Q2 25 | $147.0M | $13.7B | ||
| Q1 25 | $148.5M | $14.2B | ||
| Q4 24 | $141.2M | $13.8B | ||
| Q3 24 | $139.6M | $14.1B | ||
| Q2 24 | $142.1M | $14.5B | ||
| Q1 24 | $133.8M | $15.4B |
| Q4 25 | — | 2.11× | ||
| Q3 25 | — | 2.14× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 2.53× | ||
| Q4 24 | — | 2.48× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 2.90× | ||
| Q1 24 | — | 3.20× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.8M | $423.0M |
| Free Cash FlowOCF − Capex | $76.0K | $396.7M |
| FCF MarginFCF / Revenue | 0.3% | 1183.0% |
| Capex IntensityCapex / Revenue | 6.6% | 78.2% |
| Cash ConversionOCF / Net Profit | — | 7.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-377.0K | $663.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8M | $423.0M | ||
| Q3 25 | $326.0K | $112.4M | ||
| Q2 25 | $2.3M | $81.8M | ||
| Q1 25 | $1.3M | $91.2M | ||
| Q4 24 | $2.7M | $662.9M | ||
| Q3 24 | $409.0K | $137.0M | ||
| Q2 24 | $-2.1M | $133.8M | ||
| Q1 24 | $5.9M | $211.6M |
| Q4 25 | $76.0K | $396.7M | ||
| Q3 25 | $-1.6M | $100.8M | ||
| Q2 25 | $880.0K | $78.1M | ||
| Q1 25 | $268.0K | $87.8M | ||
| Q4 24 | $1.6M | $642.0M | ||
| Q3 24 | $-952.0K | $132.6M | ||
| Q2 24 | $-3.5M | $123.1M | ||
| Q1 24 | $4.9M | $188.3M |
| Q4 25 | 0.3% | 1183.0% | ||
| Q3 25 | -6.4% | 435.0% | ||
| Q2 25 | 3.6% | 299.0% | ||
| Q1 25 | 1.1% | 355.6% | ||
| Q4 24 | 6.5% | 3438.0% | ||
| Q3 24 | -4.3% | 797.9% | ||
| Q2 24 | -16.1% | 829.2% | ||
| Q1 24 | 22.8% | 1473.7% |
| Q4 25 | 6.6% | 78.2% | ||
| Q3 25 | 7.7% | 50.4% | ||
| Q2 25 | 5.7% | 14.2% | ||
| Q1 25 | 4.3% | 13.7% | ||
| Q4 24 | 4.6% | 111.9% | ||
| Q3 24 | 6.2% | 26.7% | ||
| Q2 24 | 6.6% | 71.5% | ||
| Q1 24 | 5.0% | 181.7% |
| Q4 25 | — | 7.32× | ||
| Q3 25 | — | 1.05× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 57.39× | ||
| Q2 24 | — | 2.97× | ||
| Q1 24 | — | 2.88× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GAIA
| US | $16.7M | 65% |
| Non Us | $8.8M | 35% |
NNI
Segment breakdown not available.
