Q3 2024 Inspirato Inc Earnings Call Transcript
Key Points
- Inspirato Inc (ISPO) has identified and implemented cost-cutting measures expected to result in over $40 million of annualized savings, surpassing the initial target of $25 million.
- The company has improved its capital structure by converting all class B shares into class A, enhancing trading fundamentals and regaining compliance with NASDAQ listing requirements.
- Inspirato Inc (ISPO) has maintained an industry-leading Net Promoter Score (NPS) of approximately 70, indicating high customer satisfaction with their luxury travel experiences.
- The company has successfully brought on 11 new luxury homes and established partnerships with iconic luxury brands such as Montage, Waldorf Astoria, and Fairmont.
- Inspirato Inc (ISPO) plans to return to a club membership model with initiation fees and annual dues, which historically has shown higher retention and lifetime value (LTV) among members.
- Total revenue for Q3 2024 decreased by 16% year over year, primarily due to a decrease in subscription revenue from a reduced number of Pass members.
- Travel revenue decreased by 13% year over year, driven by an 11% decrease in the number of total nights delivered.
- The company experienced a cash balance decrease of $18 million year-to-date, despite improvements in cash flow dynamics.
- Inspirato Inc (ISPO) reported an adjusted EBITDA loss of approximately $3 million for Q3 2024, although this was an improvement from the previous year.
- The company does not expect revenue growth in 2025, focusing instead on profitability and margin expansion, which may limit short-term growth prospects.
Good day and thank you for standing by and welcome to Inspirato Inc Q3 2024 earnings call. At this time. All participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session to ask a question during the session.
(Operator Instruction)
I would now like to hand the conference over to your speaker today, Kyle Sourk, Investor Relations, please go ahead.
Thank you and good morning. On today's call. We have Chairman and CEO Payam Zamani; CFO Robert Kaiden; President David Kallery, and our incoming CFO Michael Arthur.
Yesterday afternoon, we issued our press release announcing our Q3 2024 results. As a reminder, some of today's comments are forward-looking statements. These statements are based on assumptions and actual results could differ materially. In addition, during the call, we will discuss non-GAAP measures which are useful in evaluating the company's operating performance.
These measures should not be considered in
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