- Inspirato Inc (NASDAQ:ISPO) reported second-quarter FY22 sales growth of 60% year-on-year, to $83.7 million, missing the consensus of $84.98 million.
- As of June 30, 2022, active subscriptions totaled 15,700, a 15% Y/Y increase. Pass subscriptions rose 75% to 3,600.
- Annual Recurring Revenue (ARR) jumped 51% Y/Y to $157 million.
- The gross profit for the quarter increased 42% to $24 million, and the gross margin of 28% contracted by 400 basis points.
- Total occupancy for the quarter was 82% versus 91% last year.
- The company held $123.1 million in cash and equivalents as of June 30, 2022.
- Adjusted EBITDA loss for the quarter was $(14.4) million versus a loss of $(8.2) million last year.
- EPS loss was $(0.06) versus $(0.01) a year ago.
- Outlook: Inspirato affirmed the FY22 sales outlook of $350 million – $360 million, versus the consensus of $357.14 million.
- The company expects an FY22 adjusted EBITDA loss of $(25) million – $(15) million.
- ISPO anticipates generating a positive Adjusted EBITDA for the full-year 2023.
- Price Action: ISPO shares are trading lower by 2.18% at $4.93 on the last check Monday.
Why AppLovin Stock Is Up After Earnings
Wedbush analyst Nick McKay maintained AppLovin with an Outperform and raised the price target from $58.50 to $67 following the earnings report. AppLovin shares are climbing on heavy trading volume as investors digest the results. According to data from Benzinga Pro, more than 12.4 million shares have been traded in the session compared to the stock's 100-day volume of 3.012 million.
