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ISPO

Inspirato Incorporated

ISPO

Inspirato Incorporated • NASDAQ
$2.73 ▲ 0.37% (+0.01)
Market Cap $34.48 M
52w High $7.17
52w Low $2.19
Dividend Yield 0%
P/E -3.17
Volume 9.75K
Outstanding Shares 12.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $55.541M ▼ $20.113M ▼ $-4.521M ▲ -8.14% ▲ $-0.36 ▲ $-1.325M ▼
Q2-2025 $63.108M ▼ $21.791M ▼ $-5.313M ▼ -8.419% ▼ $-0.42 ▼ $12.604M ▼
Q1-2025 $65.889M ▲ $23.914M ▼ $1.622M ▲ 2.462% ▲ $0.27 ▲ $19.667M ▲
Q4-2024 $63.114M ▼ $23.956M ▼ $-2.282M ▼ -3.616% ▼ $-0.21 ▼ $11.786M ▼
Q3-2024 $69.114M $35.011M $4.332M 6.268% $0.77 $23.764M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $26.787M ▼ $228.286M ▼ $362.263M ▼ $-133.977M ▼
Q2-2025 $29.769M ▲ $252.642M ▼ $382.338M ▼ $-129.696M ▼
Q1-2025 $29.463M ▼ $270.13M ▼ $395.285M ▼ $-125.155M ▲
Q4-2024 $35.005M ▲ $273.885M ▲ $403.737M ▼ $-129.852M ▲
Q3-2024 $24.139M $273.325M $407.902M $-134.577M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.521M ▲ $-2.205M ▼ $-777K ▲ $0 ▼ $-2.982M ▼ $-2.982M ▼
Q2-2025 $-5.313M ▼ $1.082M ▲ $-834K ▲ $58K ▼ $306K ▲ $450K ▲
Q1-2025 $1.622M ▲ $-6.627M ▼ $-915K ▲ $2M ▼ $-5.542M ▼ $-7.49M ▼
Q4-2024 $-2.282M ▼ $6.943M ▲ $-1.178M ▲ $5.101M ▼ $10.866M ▲ $5.765M ▲
Q3-2024 $6.622M $-13.744M $-1.307M $9.709M $-5.342M $-15.051M

Revenue by Products

Product Q4-2023Q1-2024Q2-2024Q3-2024
Subscription
Subscription
 $70.00M ▲$30.00M ▼$30.00M ▲$20.00M ▼
Travel
Travel
 $90.00M ▲$50.00M ▼$40.00M ▼$40.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully from early years but has recently started to soften, suggesting the rapid post‑pandemic growth phase is behind them for now. Profitability has improved: gross margins have recovered and operating results have shifted from clear losses toward roughly breakeven, which hints at cost controls and a more disciplined approach. That said, the business is still losing money at the bottom line, so earnings remain fragile and sensitive to any slowdown in demand or increase in costs. The very large swings in reported earnings per share mainly reflect capital structure changes and the reverse split, rather than a dramatic change in the underlying business economics.

Balance Sheet

Balance Sheet The balance sheet looks thin and somewhat stressed. Total assets have drifted down from their peak, and cash has been drawn down over time, leaving a relatively small liquidity cushion. Debt sits high relative to the company’s size, while shareholder equity has flipped in and out of negative territory, pointing to accumulated losses and a limited capital buffer. Overall, financial flexibility appears constrained, and the company does not have a lot of room for prolonged setbacks without fresh capital or a step‑change in profitability.

Cash Flow

Cash Flow The company is not yet self‑funding. Operating cash flow has been negative for several years, though the size of the shortfall has been narrowing, which aligns with the gradual improvement seen in operating results. Free cash flow mirrors this pattern: still negative, but improving and helped by a very light level of capital spending, consistent with a relatively asset‑light model. The key risk is that, until cash flow turns solidly positive, the business remains dependent on its existing cash, credit, or new financing to support operations and growth initiatives.

Competitive Edge

Competitive Edge Inspirato occupies a focused niche at the intersection of luxury travel, subscription services, and curated experiences. Its main strengths are a tightly controlled portfolio of high‑end properties, a concierge‑style service model, and a subscription structure that encourages loyalty and recurring revenue. This combination differentiates it from mass‑market platforms like Airbnb and from traditional hotels, but it also means the company competes indirectly with both and must justify a premium experience at a premium price. Scale is still modest versus larger travel players, so brand strength, member satisfaction, and repeat usage are critical to maintaining its position.

Innovation and R&D

Innovation and R&D Innovation is centered on the business model and platform rather than heavy engineering R&D. The company has built a proprietary booking and subscription platform, uses data to tailor recommendations, and emphasizes a smooth digital experience across web and mobile. Newer initiatives—such as expanded “Inspirato Only” experiences, corporate travel offerings, and a deeper push into digital marketing and analytics—aim to increase utilization and member lifetime value. The planned combination with Buyerlink and rebranding into a more technology‑first marketplace could materially change how the company acquires customers and manages inventory, but it also introduces meaningful execution and integration risk.

Summary

Inspirato shows a business model that resonates with a specific, affluent customer base and a strategy built on curated luxury, subscriptions, and high‑touch service. Financially, the story is mixed: revenue has matured, profitability metrics are improving, but net losses and negative cash flow continue, and the balance sheet is relatively leveraged with limited cushion. The upcoming shift toward a technology‑driven marketplace and the integration of Buyerlink offer potential upside in efficiency and reach, while also adding complexity and uncertainty. Over the next few years, the central questions will be whether the company can convert its differentiated offering into durable, profitable growth and rebuild financial strength without overextending its risk profile.

NEWS

November 20, 2025 · 9:00 AM UTC

Inspirato Adds Iconic Destinations to Its Global Portfolio

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November 4, 2025 · 4:05 PM UTC

Inspirato Reports Q3 Financial and Operating Results

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October 30, 2025 · 4:05 PM UTC

Inspirato to Announce Third Quarter 2025 Financial Results on Tuesday, November 4, 2025

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October 29, 2025 · 9:00 AM UTC

Inspirato Introduces Luxury Catamaran Charters

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October 23, 2025 · 9:00 AM UTC

Inspirato Elevates Travel Experiences with Strategic Property Enhancements

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