Inspirato welcomes Casa Tres Reinas, a secluded beachfront villa in Punta de Mita, Mexico, as well as rooms and suites at a historic 17th-century hotel on the island of Mallorca, Spain, to its global portfolio. The Inspirato Collection includes 400+ luxury vacation homes and 200+ five-star partner hotels—with new homes and hotels added frequently. Inspirato continuously optimizes its portfolio, ensuring exceptional value and an expansive selection of world-class destinations for its members. DENVER, Aug. 28 ...

New Game-Changing Membership Provides a Decade of Luxury Travel at Fixed Nightly Rates Inspirato is launching Inspirato Invited—a game-changing membership that offers 10 years of incredible luxury vacations at fixed nightly rates. Members can vacation across 400+ luxury Inspirato homes with flat rate pricing, while also benefiting from other Inspirato travel options such as 50+ Signature Hotels & Resorts, and 20+ members only experiences, including safaris, cruises, and more. Inspirato has sold over 30 char ...

DENVER, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Inspirato Incorporated ("Inspirato" or the "Company") (NASDAQ: ISPO), the innovative luxury travel club, today announced its Board of Directors approved the grant of equity awards on August 13, 2024 as a material inducement to the employment of newly-hired Chairman and CEO, Payam Zamani. The grants were made under the Company's 2024 Inducement Award Plan (the "Inducement Plan") in accordance with Nasdaq Listing Rule 5635(c)(4). In connection with Mr. Zamani's appoin ...

Inspirato Incorporated (ISPO) reported drab second-quarter 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. Both metrics declined on a year-over-year basis. Dismal Travel and Subscription revenues hampered ISPO's quarterly performance. However, operational efficiencies led to year-over-year improvements in the cost of revenues, gross margin, Adjusted EBITDA loss and negative free cash flow. The company completed a comprehensive transaction with One Planet, securing a $10-millio ...

½ INSDIDATO N A U P A K A K O H A L A C O A S T , H A W A I I COMPANY UPDATE August 2024 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. Our forward-looking statements include, but are not limited to, statements regard ...

DENVER, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Inspirato Incorporated ("Inspirato" or the "Company") (NASDAQ: ISPO), the innovative luxury travel club, today announced its 2024 second quarter financial and operating results, the closing of its previously announced $10 million Investment Agreement with One Planet Group LLC ("One Planet Group") and is in the process of implementing initiatives expected to reduce costs by approximately $25 million on an annualized basis. Except as otherwise stated, all financial re ...

1/2 INISDIDATO Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. Our forward-looking statements include, but are not limited to, statements regarding our and our management team's hopes, beliefs, intentions or strategies regarding ...

Financial Data and Key Metrics - Q1 total revenue was $80 million, a 12% decrease year-over-year, largely in line with internal expectations [42] - Subscription revenue decreased 23% year-over-year, driven by a decrease in Pass and Club subscriptions [42] - Travel revenue decreased 10% year-over-year, primarily due to fewer members, not travel behavior [43] - Adjusted EBITDA improved to a gain of $4.1 million, compared to a loss of $3.1 million in Q1 2023, marking the first profitable quarter in over three years [37][47] - Gross margin expanded to 40% in Q1, up from 35% in Q1 2023, driven by lease expense savings and portfolio optimization [46] - Cash burn improved to $9 million in Q1, down from over $20 million in Q1 2023 [24] Business Line Performance - Pass nights represented 30% of total nights delivered, down from 40% in previous quarters, reflecting a shift toward a more sustainable and profitable travel mix [15] - Flex Trips, introduced in mid-February, accounted for over 800 reservations and 25% of all Pass trips booked, with 80% of Flex Trips being first stays within 60 days [14][73] - Pass subscriptions decreased by approximately 350 year-over-year, but Pass nights delivered per member and reservations per member remained steady, indicating improved profitability [39] - Club subscriptions decreased by 11% year-over-year, with a focus on selling longer-term contracts to improve retention [19] Market and Occupancy Data - Total residence occupancy improved to 80% in Q1, up from 77% a year ago, with ADR down nearly 10% [45] - Leased hotel room occupancy improved to 73%, compared to 71% a year ago, with flat ADRs [45] - Paid nights delivered as a percentage of total nights delivered reached 63%, the highest level since Q1 2022 [43] Strategic Direction and Industry Competition - The company is focusing on operational efficiency, cost structure improvements, and portfolio optimization to drive sustainable, profitable growth [13][40] - Efforts to reengage members and refine product offerings, such as Flex Trips and Inspirato rewards, are aimed at increasing travel revenue per member and improving retention [16][43] - The company is deemphasizing short-term memberships and focusing on multiyear relationships for both new and existing members to solidify its core customer base [57] - Partnerships, such as with Capital One, are expected to drive mid-to-long-term growth, with technical integration on track for the back half of 2024 [61][76] Management Commentary on Operating Environment and Future Outlook - Management reaffirmed 2024 guidance, with total revenue expected between $275 million and $305 million, adjusted EBITDA between a gain of $5 million and a loss of $15 million, and cash operating expenses between $115 million and $125 million [18] - The company expects stronger free cash flow performance in Q2, with lower cash burn despite lower revenue and EBITDA compared to Q1 [24] - Management highlighted the importance of seasonality in revenue, adjusted EBITDA, and free cash flow, with Q1 being a strong quarter due to travel delivery [48] - The company is exploring financing options to bolster liquidity, with $33 million in cash at the end of Q1, down from $42 million at year-end 2023 [49] Other Important Information - The company achieved $50 million in OpEx efficiencies over the past several quarters, which will help position it for profitable growth in 2024 and beyond [31] - Inspirato-only experiences, such as safaris and golf excursions, continue to be popular, with nearly all 2025 trips selling out within days [44] - The company is focused on improving member engagement and nights per member, with 50% of members already having some status in the rewards program launched last fall [70] Q&A Session Summary Question: What is the upper bound on residence occupancy rates? - Management believes there is room for a few more percentage points of improvement, balancing availability for members with optimization of occupancy rates [26][51] Question: How has the introduction of Flex Trips altered the economics of Pass? - Flex Trips have improved the profitability of Pass by catering to last-minute travelers and reducing excess inventory, with 25% of Pass trips booked being Flex Trips [29][73] Question: When can we expect subscriber churn to plateau and growth to return? - Management expects churn to stabilize as the company focuses on operational efficiency and long-term member retention, with growth expected to return in 2025 [31][76] Question: What are the top priorities for the rest of the year? - Priorities include improving occupancy levels, driving member engagement, and achieving breakeven for the year, while exploring financing options to strengthen the balance sheet [66][85] Question: What measures are being taken to drive better bookings? - Measures include lowering ADRs, leveraging the semi-annual sale, and enhancing the rewards program to encourage more frequent travel [88][89]

Financial Performance - Revenue for Q1 2024 was $80,245,000, a decrease of 12.5% compared to $91,700,000 in Q1 2023[20] - Net income for Q1 2024 was $2,249,000, compared to a net loss of $5,903,000 in Q1 2023[20] - Total revenue for the three months ended March 31, 2024, was $80.245 million, a decrease of 12.4% from $91.700 million in the same period of 2023[39] - Travel revenue decreased to $49.674 million in Q1 2024 from $55.128 million in Q1 2023, representing a decline of 9.4%[39] - Subscription revenue fell to $28.065 million in Q1 2024, down 23.2% from $36.511 million in Q1 2023[39] - Net income attributable to Inspirato Incorporated for Q1 2024 was $1.263 million, a turnaround from a net loss of $2.896 million in Q1 2023[68] - Basic earnings per share (EPS) for Q1 2024 was $0.35, compared to a loss of $0.90 per share in Q1 2023[68] - Free Cash Flow for Q1 2024 was $(8.7) million, compared to $(20.8) million in Q1 2023, indicating improved cash generation from operations[157] Assets and Liabilities - Total current assets decreased to $61,514,000 as of March 31, 2024, down from $74,840,000 as of December 31, 2023[17] - Total liabilities decreased to $462,891,000 as of March 31, 2024, from $485,425,000 as of December 31, 2023[17] - Cash and cash equivalents at the end of Q1 2024 were $22,626,000, down from $36,566,000 at the end of Q4 2023[17] - The company’s total equity (deficit) as of March 31, 2024, was $(149,847,000), an improvement from $(154,698,000) as of December 31, 2023[17] - The outstanding amount of the 8% Senior Secured Convertible Note was $26.0 million as of March 31, 2024, up from $25.5 million as of December 31, 2023[50] Revenue Recognition and Deferred Revenue - Deferred revenue as of March 31, 2024, was $162.878 million, down from $177.519 million as of December 31, 2023[42] - The company recognized $71.4 million of revenue from deferred revenue during the three months ended March 31, 2024, compared to $63.0 million in the same period of 2023[42] - Deferred revenue as of March 31, 2024, totaled $75.9 million for travel, $57.9 million for subscriptions, $18.0 million for travel credits, and $11.0 million for rewards[136] Expenses - Cost of revenue decreased by $11.5 million, from $60.1 million in Q1 2023 to $48.5 million in Q1 2024, a reduction of 19%[123] - General and administrative expenses decreased by $3.3 million, from $17.9 million in Q1 2023 to $14.6 million in Q1 2024, a decrease of 18%[124] - Sales and marketing expenses increased by $2.0 million, from $6.7 million in Q1 2023 to $8.7 million in Q1 2024, an increase of 30%[125] - Technology and development expenses decreased by $1.4 million, or 40%, from $3.4 million in Q1 2023 to $2.1 million in Q1 2024, primarily due to workforce reductions in the technology and development department[127] Stock and Equity - The company executed a 1-for-20 reverse stock split effective October 16, 2023, reducing the authorized shares of Class A Common Stock from 1 billion to 50 million[29] - The total number of shares of Preferred Stock authorized was reduced from 100 million to 5 million following the reverse stock split[29] - The Company had approximately 141,000 shares of Class A Common Stock available for issuance under the Employee Stock Purchase Plan as of March 31, 2024[73] Legal and Compliance - A class action lawsuit was filed alleging violations related to prior public statements about financial results, seeking unspecified damages[169] - The company is not currently a party to any material litigation that is likely to have a material adverse effect on its business[168] - The management is committed to ongoing remediation activities to ensure the reliability of financial reporting[165] Operational Metrics - Active subscriptions decreased from 15,700 in March 2023 to 13,000 in March 2024, reflecting a decline in user adoption[104] - The average daily rate (ADR) for residences decreased from $2,152 in Q1 2023 to $1,965 in Q1 2024[109] - Occupancy rates improved from 75% in Q1 2023 to 78% in Q1 2024 across all properties[109] Strategic Initiatives - In August 2023, the company entered into a $25 million strategic investment agreement with Capital One, resulting in net proceeds of approximately $23.1 million after debt issuance costs[97][98] - The company launched the Inspirato Rewards loyalty program in August 2023 to incentivize repeat business among members with exclusive discounts and benefits[96]

Financial Performance - Net income for Q1 2024 was $2.2 million, a significant improvement from a net loss of $5.9 million in Q1 2023[3] - Adjusted EBITDA for Q1 2024 was $4.1 million, compared to an adjusted EBITDA loss of $3.1 million in Q1 2023, marking a $7.2 million favorable swing[3] - Total revenue for Q1 2024 was $80.2 million, representing a 12% year-over-year decrease but a 13% increase compared to Q4 2023[3] - Adjusted EBITDA for Q1 2024 was $4,073 million, with an Adjusted EBITDA margin of 5.1%, compared to an Adjusted EBITDA of $(3,149) million in Q1 2023[33][34] - Free cash flow for the first quarter of 2024 was $(8,704) million, an improvement from $(20,796) million in Q1 2023[35] - The company reported a net cash used in operating activities of $(7,202) million for Q1 2024, compared to $(17,587) million in Q1 2023, indicating improved cash flow management[31] Operational Metrics - Gross margin expanded to 40% in Q1 2024 from 35% in Q1 2023, driven by a 19% year-over-year improvement in the cost of revenue[3] - Residence occupancy improved to 80% in Q1 2024, up from 77% in Q1 2023, aided by a 9% reduction in average daily rates (ADRs) to $1,965[3] - Total Active Subscriptions reached approximately 13,000 as of March 31, 2024, including about 10,900 Inspirato Club subscriptions and 2,100 Inspirato Pass subscriptions[3] Guidance and Future Outlook - The company reaffirms its 2024 guidance for total revenue between $275 million and $305 million, and adjusted EBITDA between a gain of $5 million and a loss of $15 million[5] - Management expressed confidence in achieving long-term growth and profitability goals, citing recent improvements in operational efficiency and occupancy rates[4] - The company aims to improve its free cash flow profile and liquidity through operational initiatives and potential financing options[5] Cash and Assets - Cash at the end of Q1 2024 was $33 million, down from $42 million at year-end 2023[5] - Total assets decreased from $330,727 million as of December 31, 2023, to $313,044 million as of March 31, 2024, representing a decline of approximately 5.4%[29] - Cash and cash equivalents decreased from $36,566 million at the end of 2023 to $22,626 million at the end of Q1 2024, a decline of approximately 38.2%[29] - Total current liabilities decreased from $245,194 million as of December 31, 2023, to $227,613 million as of March 31, 2024, a reduction of approximately 7.1%[29] - Deferred revenue decreased from $160,493 million as of December 31, 2023, to $142,821 million as of March 31, 2024, a decrease of approximately 11%[29] Upcoming Events - The company plans to discuss its 2024 first quarter operating and financial results in a conference call scheduled for May 8, 2024[37] Strategic Focus - Inspirato continues to focus on expanding its luxury travel subscription services and enhancing its portfolio of curated vacation options[38]