Inspirato Reports Q3 Financial and Operating Results

Core Insights - Inspirato Incorporated reported a significant year-over-year improvement in adjusted EBITDA of 97%, reflecting operational efficiencies and a focus on reducing fixed commitments while enhancing guest experience [3][6][34] - The company achieved a year-to-date increase of $15.0 million in cash flow from operating activities and a $13.2 million rise in adjusted EBITDA, indicating a strong foundation for future growth [1][3] - Inspirato is set to launch a new Pass membership in January 2026, aimed at providing greater value and flexibility for members [3][34] Financial Performance - For Q3 2025, Inspirato reported a net loss of $4.5 million and an adjusted EBITDA of negative $0.1 million, marking a $3.3 million improvement year-over-year [6][24] - The gross margin for Q3 2025 was $17.4 million, down 64.7% from $49.4 million in Q3 2024, primarily due to a decline in total revenue [6][10] - Total revenue for Q3 2025 was $55.5 million, a decrease of 19.6% compared to $69.1 million in Q3 2024 [10][24] Operational Metrics - Cash operating expenses decreased by $6.9 million or 26% year-over-year, reflecting ongoing operational improvements [6][10] - The occupancy rate for Q3 2025 was 56%, with average daily rates (ADR) increasing by 20% to $1,742 [6][11] - As of September 30, 2025, the company reported 10,700 active memberships, down from 12,400 in the previous year [12][34] Guidance and Management Changes - Inspirato has reinstated its 2025 guidance, expecting adjusted EBITDA of $2 to $4 million and full-year revenue of $235 to $240 million [7][34] - The company announced the resignation of CFO Michael Arthur, who will assist in the transition until the end of 2025 [4][5]