What does Inspirato do and what are its main business segments?

What is Inspirato's latest dividend and current dividend yield?

What were the key takeaways from Inspirato’s earnings call?

What is the market's earnings forecast for Inspirato next quarter?

What factors drove the changes in Inspirato's revenue and profit?

Did Inspirato beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Inspirato year over year?

What guidance did Inspirato's management provide for the next earnings period?

- **EBITDA Improvement**: 97% year-over-year rise in adjusted EBITDA, driven by $4M annual savings from vendor renegotiations.
- **Pass Program Success**: New Pass memberships sold in 3 months exceed prior 12-month total; targeting 2,500 members by 2026.
- **Financial Outlook**: 2025 EBITDA guidance raised to $2-4M, with free cash flow expected to improve in Q4.
- **Digital Growth**: Investing in technology to scale member acquisition, despite terminating the Buyerlink merger.

**【CEO Opening Remarks】**
- **Operational Efficiency**: Achieved 97% year-over-year improvement in adjusted EBITDA, with $13.2 million year-to-date EBITDA growth and $15 million operating cash flow improvement. Renegotiated vendor contracts to save $4 million annually without impacting service quality.
- **Pass Program Relaunch**: New Pass memberships sold in 3 months exceeded prior 12-month total. Program redesign allows 2 active reservations (up to 7 nights each) with no monthly fees, targeting 2,500 members by 2026.
- **Brand Elevation**: Relaunched Inspirato Magazine and expanded social media presence. Added exclusive experiences like Wimbledon Centre Court and Utah national parks adventures.
- **Digital Platform Investment**: Building a scalable technology platform to enhance member targeting and conversion, despite terminating the Buyerlink merger.

**【CFO Financial Commentary】**
- **Q3 2025 Results**: Total revenue $56 million (-20% YoY), adjusted EBITDA improved to -$0.1 million (vs. -$24.5 million prior). Cost of revenue down 23% ($11.5 million), cash expenses reduced $7 million YoY.
- **Revenue Breakdown**: Subscription ($19.4M, -16% YoY) stabilized sequentially; travel revenue ($33.9M, -20% YoY) supported by 25% ADR growth. Free cash flow negative $3M (Q3), year-to-date negative $10M (includes $4M non-recurring costs).
- **2025 Guidance Update**: EBITDA $2-4M (vs. prior $0-2M), revenue $235-240M, operating expenses $80-85M (-15% YoY). Free cash flow expected to improve in Q4, with year-end cash typically strong.

**【Q&A Highlights】**
- **Pass Program Details**: Limited to 2,500 members (1,100 current, 1,400 available). Excludes hotels to better monetize owned properties. Early marketing tests show promise, with SEM spending growing from $0 to $200K/quarter.
- **CFO Transition**: Michael Arthur departing in 2026; search for successor underway. Emphasis on maintaining financial discipline during transition.

Inspirato Incorporated (ISPO) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ISPO

ISPO fundamentals

You can ask Aime