10-Q - Vacasa, Inc. (0001874944) (Filer)

Fri, Nov 8, 10:04 PM (68 days ago)

Vacasa, Inc. (VCSA) reported a challenging third quarter for 2024, with revenues of $314,048, a significant decrease of 17% year-over-year, primarily driven by a 21% decline in Nights Sold. The company's operating expenses were disproportionately high, resulting in a net loss of $94,755, albeit an improvement from previous periods. The company has been restructuring, which included a workforce reduction affecting approximately 13% of its employees, incurring severance costs of $5.9 million. Despite a cash position of $124.4 million, Vacasa's liquidity is under pressure due to fluctuating guest demand and operational costs. The company drew $81 million from its revolving credit facility and issued $30 million in convertible notes to bolster its cash reserves. Future profitability remains uncertain, with risks including ongoing market volatility, regulatory challenges, and reliance on third-party platforms. The company’s ability to sustain its business model depends on its effectiveness in managing costs and adapting to changing market conditions.