Inspirato reports Q3 EPS 62c vs. 0.62 ($4.87) last year

Reports Q3 revenue $69.1M, consensus $67.22M.Gross Margin of $49.4 million, or 71% of revenue, compared to a gross margin of $20.6M , or 25% of revenue in the third quarter of 2023. Gross margin included a non-recurring net gain of $29.9 million and asset impairment of $4.3M in the third quarters of 2024 and 2023, respectively…Chairman and Chief Executive Officer, Payam Zamani, commented, “Inspirato (ISPO) is truly a great company with an incredible value proposition and mission of delivering exceptional experiences for our members and their families. Over the past few years, we got in our own way and lost focus on some of the fundamentals of operating a truly sustainable business while continually building on our foundation as a luxury travel club. In just a few short months since I joined as the CEO, we have made strides towards realigning this focus and we have also added a fresh and diverse perspective to our boardroom. Additionally, we optimized our cost structure, achieving more than $40 million in annualized savings to better align expenses with revenue. This provides us the flexibility needed to continue enhancing the quality of services for our members. I expect these changes – as well as a relentless focus on gross margin and EBTIDA margin expansion – will support profitability and positive free cash flow starting in 2025.”