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ISPOW

Inspirato Incorporated

ISPOW

Inspirato Incorporated • NASDAQ
$0.01 ▼ -1.79% (-0.00)
Market Cap $138918
52w High $0.03
52w Low $0.01
Dividend Yield 0%
P/E 0
Volume 33.99K
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 Q3-2023Q3-2024
Subscription
Subscription
 $30.00M ▲$20.00M ▼
Travel
Travel
 $50.00M ▲$40.00M ▼
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Inspirato’s revenue base is modest and has been roughly flat to slightly down recently, which suggests the business is still searching for stronger, more consistent growth. On the positive side, profitability metrics have improved: gross margins have recovered from a weak patch, operating profit has turned slightly positive, and operating efficiency looks better than a few years ago. However, after all costs, the company is still losing a small amount of money at the bottom line, and reported per‑share losses look large, partly reflecting its SPAC structure and share count dynamics. Overall, the income statement shows a business that is inching toward economic viability but not firmly profitable yet.

Balance Sheet

Balance Sheet The balance sheet looks tight and somewhat fragile. Total assets have come down from earlier peaks, cash on hand has shrunk, and debt now makes up a large share of the capital structure. Shareholder equity is negative, meaning obligations to lenders and other liabilities outweigh the company’s net assets. That combination points to limited financial cushion and a higher dependence on lenders or future capital raises. In simple terms, Inspirato appears operationally lean but financially stretched, with less room to absorb shocks.

Cash Flow

Cash Flow Cash generation is a clear weak spot. Operating cash flow has been negative for several years in a row, and free cash flow is also consistently negative, even though the company is not spending heavily on physical investments. This means the core business has not yet proven it can fund itself from the cash it brings in from customers. Inspirato is still in a “cash burn” phase, which increases reliance on existing cash balances, credit lines, or new capital, and heightens the importance of moving to sustained positive cash flow.

Competitive Edge

Competitive Edge Inspirato sits in a niche corner of the luxury travel market, aiming at affluent customers who want certainty, curated properties, and high service levels rather than do‑it‑yourself booking. Its subscription model, controlled property portfolio, and concierge‑style service clearly differentiate it from open marketplaces like Airbnb. This creates a recurring revenue base and a brand associated with exclusivity and reliability. At the same time, the company is small relative to global travel players, operates in a highly discretionary category, and is exposed to economic cycles that can quickly affect demand for luxury vacations. Its moat is more about service quality, brand, and curated experiences than about scale or hard‑to‑replicate technology, which leaves it with both opportunity and vulnerability.

Innovation and R&D

Innovation and R&D Inspirato is innovating mostly in business model and software rather than in traditional lab‑style research. Its main innovations include a proprietary subscription and booking platform, a supply engine that manages leased and partner properties, and data‑driven personalization that helps match members with trips. The mobile app and digital tools aim to reduce friction and deliver a more seamless experience, while specialized offerings like Inspirato Pass, curated “Only” experiences, and corporate travel solutions add layers of product innovation. The company has signaled interest in deeper use of AI and more advanced personalization, but those ambitions are still more strategic direction than fully proven reality. Overall, Inspirato is using technology and product design to refine a differentiated service rather than trying to reinvent travel itself.

Summary

Inspirato shows a business model with clear differentiation in luxury travel and visible progress on operating efficiency, but it is not yet financially self‑sustaining. The income statement is moving closer to break‑even, yet the company still posts net losses and burns cash, which, combined with a debt‑heavy, negative‑equity balance sheet, raises questions about financial resilience. On the strategic side, the subscription approach, curated portfolio, and high‑touch service create a distinctive customer proposition and potential for recurring, loyal relationships. Innovation is focused on technology platforms, data, and new experience formats, all aimed at deepening engagement with affluent travelers and corporate clients. The core tension for Inspirato is whether its differentiated model and tech‑enabled service can scale fast enough, and profitably enough, to overcome current balance sheet strain and persistent cash outflows in a cyclical, highly discretionary industry.