Inspirato Financial Projections and Business Highlights
INSPIRATO
($ in thousands)
2018
Financial projections
2019
2020
Optimizing for Growth
2021E
2022E
2023E
2024E
2025E
Total Revenue
178,652
217,079
165,590
222,373
366,265
507,058
684,661
884,752
Revenue Growth
9%
22%
(24%)
34%
65%
38%
35%
29%
Cost of Revenue¹
112,855
137,132
98,864
153,766
256,313
355,216
477,385
605,441
Gross Profit
65,797
79,947
66,726
68,607
109,952
151,842
207,276
279,311
Gross Margin
37%
37%
40%
31%
30%
30%
30%
32%
Sales & Marketing²
23,569
26,300
15,525
36,069
52,983
64,669
74,508
83,483
% of Revenue
13%
12%
9%
16%
14%
13%
11%
9%
Technology & Development²
11,951
13,756
12,943
16,757
19,617
19,925
22,603
25,679
% of Revenue
7%
6%
8%
8%
5%
4%
3%
3%
General & Administrative2,3
% of Revenue
31,629
18%
38,534
30,440
30,858
46,888
53,308
59,806
18%
18%
14%
13%
11%
9%
67,312
8%
Total Operating Expense²
67,149
78,590
58,908
83,684
119,488
% of Revenue
38%
36%
Adjusted EBITDA4
Adjusted EBITDA Margin
(1,352)
(1%)
137,902
156,917
176,474
36%
38%
33%
27%
23%
20%
1,358
1%
7,817
5%
(15,077)
(7%)
(9,536)
(3%)
13,940
50,359
102,837
3%
7%
12%
Source: Company financial model as of 05/07/2021
Notes:
1.
Cost of Revenue excludes depreciation and amortization
2.
3.
4.
Total operating expenses presented in this presentation are consistent with our audited financial statements, however, we have reclassified certain expenses as follows:: (i) costs related to providing member services included in general and administrative and sales and marketing in this presentation are reported as
Operations in our audited financial statements and (ii) corporate technology costs reported in technology and development costs in this presentation are reported in general and administrative costs in our audited financial statements
General & Administrative expense excludes equity-based compensation and pandemic-related severance costs
Adjusted EBITDA is a non-GAAP financial measure that we define as net income (loss) before interest expense, interest income, taxes, depreciation and amortization, equity-based compensation expense, warrant fair value gains and losses, losses on sale of assets, pandemic related severance costs,
public company readiness expenses, and gain on forgiveness of debt.
CONFIDENTIAL 48
5.
Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenueView entire presentation