Inspirato reports third-quarter revenue drop but improves gross margin and net income

Inspirato Incorporated reported its third-quarter results for 2024, showing total revenue of $69.1 million, a 16% decrease from the same period last year. However, gross margin improved significantly to $49.4 million, or 71% of revenue, compared to 25% in 2023. The company achieved a net income of $6.6 million, a turnaround from a net loss of $25.4 million in the previous year. Adjusted EBITDA loss also improved by 63% year-over-year, reflecting lower operating expenses. Inspirato has implemented a reorganization plan, including a dual-class share structure consolidation and a refreshed Board of Directors, resulting in over $40 million in annualized cost savings. The company ended the quarter with approximately 11,700 members.