secwatch.observer — SEC 8-K summary
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Issuer:     Inspirato Inc (—)
CIK:        0001820566
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001104659-22-117405
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

Inspirato restates Q1/Q2 2022 results due to ASC 842 lease errors; 5% balance sheet understatement
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- Audit Committee concludes Q1 and Q2 2022 financials should no longer be relied upon due to lease accounting errors.
- Right-of-use assets and lease liabilities understated by ~9%; total assets and liabilities understated by ~5% each period.
- Cost of revenue misstated: Q1 understated by ~1%, Q2 overstated by ~5%; revenue and operating cash flows unaffected.
- Management concludes disclosure controls remained ineffective due to unremediated material weaknesses; remediation plan in development.
- Company will file amended 10-Qs for the Non-Reliance Periods as soon as practicable.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820566/000110465922117405/0001104659-22-117405-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820566/000110465922117405/tm2230284d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-117405

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