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Inspirato rporated(ISPO) - 2023 Q2 - Earnings Call Presentation
2023-08-09 18:27
N A U P A K A K O H A L A C O A S T , H A W A I I Disclaimer Past performance is not necessarily indicative of future results. If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect Inspirato's expectations, plans, or forecasts of future events and views as of the date of this presentation. Inspirato anticipates that subsequent events and development ...
Inspirato rporated(ISPO) - 2023 Q2 - Quarterly Report
2023-08-09 17:49
Financial Performance - Total revenue for Q2 2023 was $84,092, a slight increase of 0.5% compared to $83,698 in Q2 2022[17]. - Gross margin for Q2 2023 was negative at $(10,648), down from a positive $26,296 in Q2 2022[17]. - Net loss for Q2 2023 was $(46,672), significantly higher than the net loss of $(5,036) in Q2 2022, representing an increase of 826%[17]. - The company reported a basic and diluted net loss per Class A share of $(0.35) for Q2 2023, compared to $(0.04) for Q2 2022[17]. - The net loss for the first quarter of 2023 was $23.42 million, compared to a net loss of $12.30 million in the same period of 2022, indicating a year-over-year increase of approximately 90%[19]. - The company reported comprehensive losses totaling $46.67 million for the first quarter of 2023, compared to $24.20 million in the same quarter of 2022, indicating a significant increase in losses[19]. - For the six months ended June 30, 2023, the net loss and comprehensive loss increased to $52,575, compared to $29,239 for the same period in 2022, representing an increase of 79.5%[21]. - The company experienced a net loss of $2.90 million due to changes in accounting principles, impacting overall financial performance[19]. - The company reported a net loss and comprehensive loss of $46,672 million for the three months ended June 30, 2023, compared to a loss of $5,036 million for the same period in 2022[185]. Revenue Breakdown - Total revenue for the three months ended June 30, 2023, was $84.1 million, a slight increase from $83.7 million in the same period of 2022, while total revenue for the six months ended June 30, 2023, rose to $175.8 million from $165.8 million in 2022, representing a year-over-year growth of 6.4%[43]. - Subscription revenue for the six months ended June 30, 2023, increased to $72.5 million, up from $67.7 million in 2022, reflecting a growth of 7.5%[43]. - Subscription revenue as a percentage of total revenue was 43% for the three months ended June 30, 2023, compared to 42% for the same period in 2022[112]. - Travel revenue increased by $5.3 million from $98 million for the six months ended June 30, 2022, to $103 million for the same period in 2023, a 5% increase[158]. Asset and Equity Changes - Total current assets decreased from $116,881 in December 2022 to $85,048 in June 2023, a decline of 27%[15]. - Total equity (deficit) excluding noncontrolling interest shifted from $11,733 in December 2022 to $(11,984) in June 2023[15]. - Total equity as of March 31, 2023, was $245.27 million, down from $244.80 million as of December 31, 2022, reflecting a slight decrease[20]. - The balance of common stock as of March 31, 2023, was $66.70 million, reflecting an increase from $62.72 million at the beginning of the year[20]. - The company issued 5,000 shares of common stock during the first quarter of 2023, contributing to the overall equity increase[19]. Cash Flow and Liquidity - Cash and cash equivalents dropped from $80,278 in December 2022 to $44,383 in June 2023, a decrease of 45%[15]. - Cash flows from operating activities resulted in a net cash used of $29,308 for the six months ended June 30, 2023, compared to $26,411 for the same period in 2022, indicating a decline in operational cash flow[21]. - Cash, cash equivalents, and restricted cash decreased to $46,045 at the end of the period, down from $123,061 at the end of June 30, 2022, reflecting a decrease of 62.7%[21]. - Financing activities provided a net cash of $470 in the first half of 2023, a significant decrease from $71,627 in the same period of 2022, indicating a decline of 99.3%[21]. Expenses and Cost Management - Cost of revenue increased by $20 million from $104.7 million in the six months ended June 30, 2022, to $124.7 million in 2023, a 19% increase primarily due to higher direct travel costs[160]. - General and administrative expenses increased by $2.1 million from $33.9 million in the six months ended June 30, 2022, to $35.9 million in 2023, a 6% increase[163]. - Sales and marketing expenses decreased by $6.6 million from $21 million in the six months ended June 30, 2022, to $14.6 million in 2023, a 31% decrease[164]. - Operating lease expense for the three months ended June 30, 2023, was $22.4 million, up from $19.7 million in the same period of 2022, representing an increase of 8.5%[61]. - Technology and development expenses increased by 5% from $2.9 million in Q2 2022 to $3 million in Q2 2023, driven by investments in product development[149]. Legal and Regulatory Matters - The company is involved in various legal proceedings and has established reserves for specific legal matters where unfavorable outcomes are probable[12]. - A class action lawsuit was filed against the company alleging violations of the Exchange Act related to prior public statements about its financial condition[65]. - The company identified material weaknesses in internal controls over financial reporting, particularly related to the implementation of new accounting standards and IT general controls[202]. - The company is actively working on a remediation plan to address identified material weaknesses, including increasing finance staff and engaging third-party consultants[203]. Strategic Initiatives and Future Outlook - The company aims to enhance gross margin and operational efficiency through cost management and portfolio optimization[116]. - The company launched a new member loyalty program, Inspirato Rewards, in August 2023, aimed at providing exclusive discounts and benefits to members[95]. - A strategic investment agreement was entered into with Capital One for $25 million through an 8% Senior Secured Convertible Note due in 2028[96]. - The company may require additional capital to continue operations, which might not be available on acceptable terms[208]. - If additional funds are raised through equity or convertible debt securities, existing stockholders could suffer significant dilution[209].
Inspirato rporated(ISPO) - 2023 Q1 - Earnings Call Transcript
2023-05-14 13:01
Inspirato Incorporated (NASDAQ:ISPO) Q1 2023 Earnings Conference Call May 9, 2023 11:00 AM ET Company Participants Kyle Sourk - Investor Relations Brent Handler - Co-Founder & Chief Executive Officer Robert Kaiden - Chief Financial Officer Conference Call Participants Shweta Khajuria - Evercore ISI Jed Kelly - Oppenheimer Tom Champion - Piper Sandler Mike Grondahl - Northland Capital Markets Brett Knoblauch - Cantor Fitzgerald Operator Good day and thank you for standing by. Welcome to the Inspirato First Q ...
Inspirato rporated(ISPO) - 2023 Q1 - Quarterly Report
2023-05-09 21:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39791 INSPIRATO INCORPORATED (Exact Name of Registrant as Specified in its Charter) Delaware 85-2426959 (State ...
Inspirato rporated(ISPO) - 2022 Q4 - Earnings Call Transcript
2023-03-16 18:33
Inspirato Incorporated (NASDAQ:ISPO) Q4 2022 Earnings Conference Call March 16, 2023 11:00 AM ET Company Participants Kyle Sourk - Investor Relations Brent Handler - Co-Founder and Chief Executive Officer Web Neighbor - Chief Financial Officer Conference Call Participants Shweta Khajuria - Evercore ISI Jed Kelly - Oppenheimer Mike Grondahl - Northland Capital Markets Brett Knoblauch - Cantor James Callahan - Piper Sandler Operator Thank you for standing by, and welcome to Inspirato's Fourth Quarter 2022 Ear ...
Inspirato rporated(ISPO) - 2022 Q4 - Annual Report
2023-03-15 20:28
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39791 INSPIRATO INCORPORATED (Exact Name of Registrant as Specified in its Charter) Delaware 85-2426959 (State or ot ...
Inspirato rporated(ISPO) - 2022 Q3 - Earnings Call Transcript
2022-12-20 19:59
Inspirato Incorporated (NASDAQ:ISPO) Q3 2022 Earnings Conference Call December 20, 2022 11:00 AM ET Company Participants Kyle Sourk - Investor Relations Brent Handler - Co-Founder and Chief Executive Officer Web Neighbor - Chief Financial Officer Conference Call Participants Mike Grondahl - Northland Capital Markets Jed Kelly - Oppenheimer & Co. Brett Knoblauch - Cantor Fitzgerald Tom Champion - Piper Sander Jocelyn Hung - Evercore ISI Operator Good day and thank you for standing by. Welcome to the Inspirat ...
Inspirato rporated(ISPO) - 2022 Q3 - Quarterly Report
2022-12-19 21:31
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39791 INSPIRATO INCORPORATED (Exact Name of Registrant as Specified in its Charter) Delaware 85-2426959 (St ...
Inspirato rporated(ISPO) - 2022 Q2 - Quarterly Report
2022-08-09 22:34
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39791 INSPIRATO INCORPORATED (Exact Name of Registrant as Specified in its Charter) Delaware 85-2426959 (State o ...
Inspirato rporated(ISPO) - 2022 Q2 - Earnings Call Transcript
2022-08-08 17:34
Inspirato Incorporated (NASDAQ:ISPO) Q2 2022 Earnings Conference Call August 8, 2022 11:00 AM ET Company Participants Kyle Sourk - Investor Relations Brent Handler - Co-Founder and Chief Executive Officer Web Neighbor - Chief Financial Officer Conference Call Participants Jed Kelly - Oppenheimer Tom Champion - Piper Sander Shweta Khajuria - Evercore ISI Mike Grondahl - Northland Capital Markets Brett Knoblauch - Cantor Fitzgerald Operator Good day, ladies and gentlemen, thank you for standing by. And welcom ...