Wed, Oct 30, 8:34 PM (64 days ago)
For the quarter ending September 30, 2024, Inspirato Incorporated (ISPO) reported a revenue of $69,114,000, a 16% decline from $82,598,000 in Q3 2023. This decrease was attributed to a drop in active subscriptions and paid nights delivered. The company recorded a gross margin of $49,389,000 (71% margin), significantly improving from $20,578,000 in the prior year, primarily due to a $29,895,000 gain on lease terminations. Operating expenses decreased across several categories, including general and administrative costs, which fell by 9% to $19,795,000. Net income for the quarter was $6,622,000, contrasting with a loss of $25,422,000 in Q3 2023. Cash flow from operations showed improvement, with a net cash used of $22,713,000 for the nine months ended September 30, 2024, down from $45,405,000 in the prior year. The company maintained $13,479,000 in cash and equivalents. Looking forward, Inspirato's restructuring efforts and new capital from the One Planet Group are expected to enhance liquidity, although uncertainties remain regarding economic conditions and operational recovery. The company plans to address its working capital needs through ongoing initiatives and potential additional financing.