The following is a summary of the Inspirato Incorporated (ISPO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Inspirato reported Q1 revenue of $80 million, a 12% decrease year-over-year due to a decrease in Pass and Club subscriptions.

• Subscription revenue fell 23% year-over-year, and travel revenue decreased by 10% due to fewer members.

• Gross margin as a percent of revenue increased to 40% in Q1 from 35% in Q1 last year due to significant lease expense savings.

• The company generated positive adjusted EBITDA of $4.1 million, an improvement of over $7 million compared to Q1 of the previous year.

• Cash burn reduced to $9 million, a significant decrease from over $20 million in Q1 of last year.

Business Progress:

• Inspirato has introduced 'Flex Trips' to make Pass more appealing for last-minute travelers, with over 800 reservations since its mid-February launch.

• The company reports a decreased number of Pass holders, but an increase in travel revenue per member.

• The focus continues to be on selling longer-term contracts and on engaging members through travel experiences.

• Inspirato is set to work with Capital One to open up the Inspirato inventory for Capital One's customers in the second half of the year.

• The company plans to refine their offerings to improve retention, and anticipates increasing growth investments in 2025.

More details: Inspirato IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.