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Side-by-side financial comparison of Inspirato Inc (ISPO) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $55.5M, roughly 1.8× Inspirato Inc). Latham Group, Inc. runs the higher net margin — -7.0% vs -8.1%, a 1.1% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -19.6%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-3.0M). Over the past eight quarters, Latham Group, Inc.'s revenue compounded faster (-4.9% CAGR vs -11.4%).
Inspirato Inc is a luxury travel and hospitality subscription service provider catering primarily to high-net-worth consumers across North America. It offers curated premium villa rentals, exclusive resort access, customized trip planning, and corporate travel incentive solutions for enterprise clients.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
ISPO vs SWIM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $100.0M |
| Net Profit | $-4.5M | $-7.0M |
| Gross Margin | 31.4% | 28.0% |
| Operating Margin | -8.0% | -10.7% |
| Net Margin | -8.1% | -7.0% |
| Revenue YoY | -19.6% | 14.5% |
| Net Profit YoY | -204.4% | 76.0% |
| EPS (diluted) | $-0.36 | $-0.06 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $100.0M | ||
| Q3 25 | $55.5M | $161.9M | ||
| Q2 25 | $63.1M | $172.6M | ||
| Q1 25 | $65.9M | $111.4M | ||
| Q4 24 | $63.1M | $87.3M | ||
| Q3 24 | $69.1M | $150.5M | ||
| Q2 24 | $67.4M | $160.1M | ||
| Q1 24 | $80.2M | $110.6M |
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $-4.5M | $8.1M | ||
| Q2 25 | $-5.3M | $16.0M | ||
| Q1 25 | $1.6M | $-6.0M | ||
| Q4 24 | $-2.3M | $-29.2M | ||
| Q3 24 | $4.3M | $5.9M | ||
| Q2 24 | $-8.7M | $13.3M | ||
| Q1 24 | $1.3M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | 31.4% | 35.4% | ||
| Q2 25 | 27.5% | 37.1% | ||
| Q1 25 | 38.8% | 29.5% | ||
| Q4 24 | 34.7% | 24.6% | ||
| Q3 24 | 71.5% | 32.4% | ||
| Q2 24 | 24.0% | 33.1% | ||
| Q1 24 | 39.5% | 27.7% |
| Q4 25 | — | -10.7% | ||
| Q3 25 | -8.0% | 13.3% | ||
| Q2 25 | -8.3% | 14.3% | ||
| Q1 25 | 2.5% | -4.4% | ||
| Q4 24 | -3.2% | -14.9% | ||
| Q3 24 | 9.8% | 8.9% | ||
| Q2 24 | -22.8% | 12.5% | ||
| Q1 24 | 3.0% | -1.9% |
| Q4 25 | — | -7.0% | ||
| Q3 25 | -8.1% | 5.0% | ||
| Q2 25 | -8.4% | 9.3% | ||
| Q1 25 | 2.5% | -5.4% | ||
| Q4 24 | -3.6% | -33.4% | ||
| Q3 24 | 6.3% | 3.9% | ||
| Q2 24 | -12.9% | 8.3% | ||
| Q1 24 | 1.6% | -7.1% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | $-0.36 | $0.07 | ||
| Q2 25 | $-0.42 | $0.13 | ||
| Q1 25 | $0.12 | $-0.05 | ||
| Q4 24 | $0.98 | $-0.24 | ||
| Q3 24 | $0.62 | $0.05 | ||
| Q2 24 | $-2.33 | $0.11 | ||
| Q1 24 | $-0.18 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.7M | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $-134.0M | $405.9M |
| Total Assets | $228.3M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $13.7M | — | ||
| Q2 25 | $16.7M | — | ||
| Q1 25 | $16.4M | — | ||
| Q4 24 | $21.8M | — | ||
| Q3 24 | $13.5M | — | ||
| Q2 24 | $18.8M | — | ||
| Q1 24 | $22.6M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | — | $405.9M | ||
| Q3 25 | $-134.0M | $408.4M | ||
| Q2 25 | $-129.7M | $398.4M | ||
| Q1 25 | $-125.2M | $381.1M | ||
| Q4 24 | $-129.9M | $387.2M | ||
| Q3 24 | $-134.6M | $416.6M | ||
| Q2 24 | $-35.2M | $408.1M | ||
| Q1 24 | $-27.5M | $391.8M |
| Q4 25 | — | $823.2M | ||
| Q3 25 | $228.3M | $844.4M | ||
| Q2 25 | $252.6M | $822.1M | ||
| Q1 25 | $270.1M | $824.6M | ||
| Q4 24 | $273.9M | $794.2M | ||
| Q3 24 | $273.3M | $853.4M | ||
| Q2 24 | $301.7M | $830.0M | ||
| Q1 24 | $313.0M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.2M | $23.3M |
| Free Cash FlowOCF − Capex | $-3.0M | $14.1M |
| FCF MarginFCF / Revenue | -5.4% | 14.1% |
| Capex IntensityCapex / Revenue | 1.4% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-31.2M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | $-2.2M | $51.0M | ||
| Q2 25 | $1.1M | $36.0M | ||
| Q1 25 | $-6.6M | $-46.9M | ||
| Q4 24 | $-15.8M | $6.2M | ||
| Q3 24 | $-13.7M | $37.2M | ||
| Q2 24 | $-1.8M | $52.4M | ||
| Q1 24 | $-7.2M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | $-3.0M | $45.2M | ||
| Q2 25 | $468.0K | $29.1M | ||
| Q1 25 | $-7.5M | $-50.3M | ||
| Q4 24 | $-21.2M | $-98.0K | ||
| Q3 24 | $-14.8M | $33.2M | ||
| Q2 24 | $-3.7M | $47.9M | ||
| Q1 24 | $-8.5M | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | -5.4% | 27.9% | ||
| Q2 25 | 0.7% | 16.8% | ||
| Q1 25 | -11.4% | -45.2% | ||
| Q4 24 | -33.7% | -0.1% | ||
| Q3 24 | -21.5% | 22.1% | ||
| Q2 24 | -5.5% | 29.9% | ||
| Q1 24 | -10.6% | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | 1.4% | 3.6% | ||
| Q2 25 | 1.0% | 4.0% | ||
| Q1 25 | 1.3% | 3.1% | ||
| Q4 24 | 8.7% | 7.2% | ||
| Q3 24 | 1.6% | 2.7% | ||
| Q2 24 | 2.8% | 2.8% | ||
| Q1 24 | 1.6% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | -4.09× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -3.16× | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | -5.70× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ISPO
| Residence And Hotel Travel | $25.9M | 47% |
| Subscription | $19.4M | 35% |
| Experiences And Bespoke Travel | $8.0M | 14% |
| Rewards And Other Revenue | $2.3M | 4% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
