Thayer Ventures Acquisition (OTCMKTS:TVACU) Files 8-K Report Reflecting Inspirato Incorporated Financial Results for the Third Quarter of 2024

On October 28, 2024, Thayer Ventures Acquisition (OTCMKTS:TVACU) filed a Form 8-K report with the Securities and Exchange Commission detailing the financial results of Inspirato Incorporated for the quarter ended September 30, 2024. The company showcased its performance for the third quarter and provided insights into key operating metrics.

Inspirato Incorporated, a luxury vacation club, reported total revenue of $69.1 million for the third quarter of 2024, marking a 3% increase from the previous quarter but a 16% decline compared to the same period in 2023. The company also disclosed a gross margin of $49.4 million, representing 71% of revenue, a significant improvement from the gross margin reported in the third quarter of 2023.

Net income for the third quarter of 2024 stood at $6.6 million, reflecting a substantial turnaround from the net loss of $25.4 million in the corresponding period of 2023. Adjusted EBITDA loss for the same quarter was $3.4 million, showing a noteworthy 63% improvement year-over-year due to lower operating expenses.

Inspirato’s leadership, including Chairman and CEO Payam Zamani, highlighted the company’s reorganization efforts, cost-saving initiatives, and a renewed focus on core operations. The strategic restructuring included consolidating the dual-class share structure and refreshing the Board of Directors, resulting in over $40 million in annualized cost savings. These measures aimed to align expenses with revenue and provide enhanced services for members.

Future plans entail a continued emphasis on improving gross margin and EBITDA margin expansion to support profitability and positive free cash flow projections starting in 2025. Inspirato disclosed its decision to remove 2024 financial guidance, reflecting ongoing evaluations and adjustments to strategic forecasts.

Thayer Ventures Acquisition included the press release dated October 28, 2024, as Exhibit 99.1 in the Form 8-K filing. This press release outlined the financial and operational results of Inspirato for the third quarter of 2024 and offered a detailed breakdown of financial metrics and reconciliation of non-GAAP measures.

Furthermore, Inspirato announced an upcoming conference call on October 29, 2024, at 9 am MST to discuss the third-quarter operating and financial results. Interested parties can access the call via the Inspirato Investor Relations website.

Disclaimer: The information in this news article is based on the 8-K filing by Thayer Ventures Acquisition and the attached Exhibit 99.1 by Inspirato Incorporated. Readers are encouraged to refer to the original filings for comprehensive details.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Thayer Ventures Acquisition’s 8K filing here.

Thayer Ventures Acquisition Company Profile

As of February 11, 2022, Thayer Ventures Acquisition Corporation was acquired by Inspirato LLC, in a reverse merger transaction. Thayer Ventures Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the travel and transportation sectors.