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Inspirato Inc（ISPO）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Repay Holdings Corp的季度营收约是Inspirato Inc的1.4倍（$78.6M vs $55.5M），Inspirato Inc净利率更高（-8.1% vs -178.3%，领先170.2%），Repay Holdings Corp同比增速更快（0.4% vs -19.6%），Repay Holdings Corp自由现金流更多（$23.2M vs $-3.0M），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% vs -11.4%）
Inspirato Inc是一家高端旅行及酒店订阅服务供应商，主要面向北美高净值人群，提供精选豪华别墅租赁、专属度假村权益、定制化行程规划服务，同时也为企业客户提供高端员工差旅激励解决方案。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
ISPO vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.4倍
$55.5M
营收增速更快
RPAY
高出20.0%
-19.6%
净利率更高
ISPO
高出170.2%
-178.3%
自由现金流更多
RPAY
多$26.2M
$-3.0M
两年增速更快
RPAY
近两年复合增速
-11.4%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $55.5M | $78.6M |
| 净利润 | $-4.5M | $-140.1M |
| 毛利率 | 31.4% | 74.2% |
| 营业利润率 | -8.0% | -182.2% |
| 净利率 | -8.1% | -178.3% |
| 营收同比 | -19.6% | 0.4% |
| 净利润同比 | -204.4% | -3304.1% |
| 每股收益（稀释后） | $-0.36 | $-1.68 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ISPORPAY
| Q4 25 | — | $78.6M | ||
| Q3 25 | $55.5M | $77.7M | ||
| Q2 25 | $63.1M | $75.6M | ||
| Q1 25 | $65.9M | $77.3M | ||
| Q4 24 | $63.1M | $78.3M | ||
| Q3 24 | $69.1M | $79.1M | ||
| Q2 24 | $67.4M | $74.9M | ||
| Q1 24 | $80.2M | $80.7M |
净利润ISPORPAY
| Q4 25 | — | $-140.1M | ||
| Q3 25 | $-4.5M | $-6.4M | ||
| Q2 25 | $-5.3M | $-102.3M | ||
| Q1 25 | $1.6M | $-7.9M | ||
| Q4 24 | $-2.3M | $-4.1M | ||
| Q3 24 | $4.3M | $3.2M | ||
| Q2 24 | $-8.7M | $-4.1M | ||
| Q1 24 | $1.3M | $-5.2M |
毛利率ISPORPAY
| Q4 25 | — | 74.2% | ||
| Q3 25 | 31.4% | 74.4% | ||
| Q2 25 | 27.5% | 75.7% | ||
| Q1 25 | 38.8% | 75.9% | ||
| Q4 24 | 34.7% | 76.3% | ||
| Q3 24 | 71.5% | 77.8% | ||
| Q2 24 | 24.0% | 78.2% | ||
| Q1 24 | 39.5% | 76.2% |
营业利润率ISPORPAY
| Q4 25 | — | -182.2% | ||
| Q3 25 | -8.0% | -3.9% | ||
| Q2 25 | -8.3% | -138.7% | ||
| Q1 25 | 2.5% | -4.7% | ||
| Q4 24 | -3.2% | -1.5% | ||
| Q3 24 | 9.8% | -0.9% | ||
| Q2 24 | -22.8% | -4.6% | ||
| Q1 24 | 3.0% | -3.1% |
净利率ISPORPAY
| Q4 25 | — | -178.3% | ||
| Q3 25 | -8.1% | -8.3% | ||
| Q2 25 | -8.4% | -135.2% | ||
| Q1 25 | 2.5% | -10.3% | ||
| Q4 24 | -3.6% | -5.3% | ||
| Q3 24 | 6.3% | 4.1% | ||
| Q2 24 | -12.9% | -5.4% | ||
| Q1 24 | 1.6% | -6.5% |
每股收益（稀释后）ISPORPAY
| Q4 25 | — | $-1.68 | ||
| Q3 25 | $-0.36 | $-0.08 | ||
| Q2 25 | $-0.42 | $-1.15 | ||
| Q1 25 | $0.12 | $-0.09 | ||
| Q4 24 | $0.98 | $-0.04 | ||
| Q3 24 | $0.62 | $0.03 | ||
| Q2 24 | $-2.33 | $-0.04 | ||
| Q1 24 | $-0.18 | $-0.06 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $13.7M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $-134.0M | $484.4M |
| 总资产 | $228.3M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资ISPORPAY
| Q4 25 | — | $115.7M | ||
| Q3 25 | $13.7M | $95.7M | ||
| Q2 25 | $16.7M | $162.6M | ||
| Q1 25 | $16.4M | $165.5M | ||
| Q4 24 | $21.8M | $189.5M | ||
| Q3 24 | $13.5M | $168.7M | ||
| Q2 24 | $18.8M | $147.1M | ||
| Q1 24 | $22.6M | $128.3M |
总债务ISPORPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益ISPORPAY
| Q4 25 | — | $484.4M | ||
| Q3 25 | $-134.0M | $616.9M | ||
| Q2 25 | $-129.7M | $633.7M | ||
| Q1 25 | $-125.2M | $755.7M | ||
| Q4 24 | $-129.9M | $761.3M | ||
| Q3 24 | $-134.6M | $754.7M | ||
| Q2 24 | $-35.2M | $815.4M | ||
| Q1 24 | $-27.5M | $813.8M |
总资产ISPORPAY
| Q4 25 | — | $1.2B | ||
| Q3 25 | $228.3M | $1.3B | ||
| Q2 25 | $252.6M | $1.4B | ||
| Q1 25 | $270.1M | $1.5B | ||
| Q4 24 | $273.9M | $1.6B | ||
| Q3 24 | $273.3M | $1.6B | ||
| Q2 24 | $301.7M | $1.5B | ||
| Q1 24 | $313.0M | $1.5B |
负债/权益比ISPORPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-2.2M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-3.0M | $23.2M |
| 自由现金流率自由现金流/营收 | -5.4% | 29.6% |
| 资本支出强度资本支出/营收 | 1.4% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-31.2M | $90.7M |
8季度趋势，按日历期对齐
经营现金流ISPORPAY
| Q4 25 | — | $23.3M | ||
| Q3 25 | $-2.2M | $32.2M | ||
| Q2 25 | $1.1M | $33.1M | ||
| Q1 25 | $-6.6M | $2.5M | ||
| Q4 24 | $-15.8M | $34.3M | ||
| Q3 24 | $-13.7M | $60.1M | ||
| Q2 24 | $-1.8M | $31.0M | ||
| Q1 24 | $-7.2M | $24.8M |
自由现金流ISPORPAY
| Q4 25 | — | $23.2M | ||
| Q3 25 | $-3.0M | $32.1M | ||
| Q2 25 | $468.0K | $33.0M | ||
| Q1 25 | $-7.5M | $2.4M | ||
| Q4 24 | $-21.2M | $34.0M | ||
| Q3 24 | $-14.8M | $59.8M | ||
| Q2 24 | $-3.7M | $30.5M | ||
| Q1 24 | $-8.5M | $24.7M |
自由现金流率ISPORPAY
| Q4 25 | — | 29.6% | ||
| Q3 25 | -5.4% | 41.3% | ||
| Q2 25 | 0.7% | 43.6% | ||
| Q1 25 | -11.4% | 3.0% | ||
| Q4 24 | -33.7% | 43.5% | ||
| Q3 24 | -21.5% | 75.6% | ||
| Q2 24 | -5.5% | 40.7% | ||
| Q1 24 | -10.6% | 30.6% |
资本支出强度ISPORPAY
| Q4 25 | — | 0.1% | ||
| Q3 25 | 1.4% | 0.2% | ||
| Q2 25 | 1.0% | 0.1% | ||
| Q1 25 | 1.3% | 0.2% | ||
| Q4 24 | 8.7% | 0.3% | ||
| Q3 24 | 1.6% | 0.3% | ||
| Q2 24 | 2.8% | 0.6% | ||
| Q1 24 | 1.6% | 0.1% |
现金转化率ISPORPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -4.09× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -3.16× | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | -5.70× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
