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Segment Reporting | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Reporting | (19) Segment Reporting Inspirato consists of one reporting segment related to its member travel. The member travel segment provides memberships primarily to individuals in North America and provides a wide array of luxury vacation homes, hotels, and destinations that can be booked ad-hoc. The Company derives revenue primarily in North America and manages its business on a consolidated basis. Management evaluated the basis upon which the chief operating decision maker (the "CODM"), which is the CEO, viewed and reacted to information in relation to the overall organizational and offering structure to determine the number of reportable segments of the Company. The member travel segment derives revenue from members by charging initiation fees and yearly membership fees in addition to collecting fees for individual vacations. The CODM uses consolidated net income/loss to evaluate segment assets, which are the consolidated total assets as presented on the Condensed Consolidated Balance Sheets, to identify areas of opportunity to streamline processes and reduce operational spend in order to improve margin on a go forward basis. The Company does not have any member that composes more than 10% of entity revenues. See below for a reconciliation of revenue and major segment expenses to net income. The CODM is regularly provided information related to the Company's consolidated net income/loss which is used in assessing segment performance and deciding how to allocate resources. The CODM is also provided gross margin and operating expense information as additional measures of segment profit or loss. The following table presents the components of revenue and cost of revenue (in thousands):
|  |  |  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Revenue: |  |  |  |  |  |  |
Residence and hotel travel |  |  |  |  | $ | 38,281 |  |  | $ | 44,190 |
Experiences and bespoke travel |  |  |  |  | 3,442 |  |  | 5,484 |
Total Travel |  |  |  |  | 41,723 |  |  | 49,674 |
Subscription |  |  |  |  | 20,892 |  |  | 28,065 |
Rewards and other revenue |  |  |  |  | 3,274 |  |  | 2,506 |
Total revenue |  |  |  |  | 65,889 |  |  | 80,245 |
Cost of revenue: |  |  |  |  |  |  |
Lease costs |  |  |  |  | 17,190 |  |  | 20,029 |
Booking fees |  |  |  |  | 13,940 |  |  | 20,015 |
Fixed operating costs |  |  |  |  | 3,138 |  |  | 3,769 |
Variable operating costs |  |  |  |  | 2,960 |  |  | 3,264 |
Depreciation expense |  |  |  |  | 1,503 |  |  | 1,295 |
Other cost of revenue |  |  |  |  | 1,613 |  |  | 153 |
Total cost of revenue |  |  |  |  | 40,344 |  |  | 48,524 |
Gross margin |  |  |  |  | 25,545 |  |  | 31,721 |
General and administrative |  |  |  |  | 11,386 |  |  | 14,649 |
Sales and marketing |  |  |  |  | 5,007 |  |  | 8,726 |
Operations |  |  |  |  | 5,230 |  |  | 7,023 |
Technology and development |  |  |  |  | 1,287 |  |  | 2,050 |
Depreciation and amortization |  |  |  |  | 1,004 |  |  | 1,001 |
Interest expense, net |  |  |  |  | 466 |  |  | 323 |
Gain on fair value instruments |  |  |  |  | (487) |  |  | (4,149) |
Other income, net |  |  |  |  | (7) |  |  | (295) |
Income and comprehensive income before income taxes |  |  |  |  | 1,659 |  |  | 2,393 |
Income tax expense |  |  |  |  | 37 |  |  | 144 |
Net income and comprehensive income |  |  |  |  | $ | 1,622 |  |  | $ | 2,249 |

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- Definition The entire disclosure for reporting segments including data and tables. 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