Last10K.com

Ashford Inc. (AINC) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Ashford Inc.

HISTORY TOOLS
CIK: 1604738 Ticker: AINC
EXHIBIT 99.1

ashfordk150dpa081a.jpg
NEWS RELEASE
Contact:Deric EubanksJordan JenningsJoe Calabrese
Chief Financial OfficerInvestor RelationsFinancial Relations Board
(972) 490-9600(972) 778-9487(212) 827-3772


ASHFORD REPORTS FOURTH QUARTER AND YEAR END 2020 RESULTS
Gross Assets Under Management $7.2 Billion at Quarter End
OpenKey Continues to See Significant Increase in Demand for its Digital Key Product
Ashford Trust Closes on Strategic Financing of up to $450 Million

DALLAS, February 25, 2021 - Ashford Inc. (NYSE American: AINC) (“Ashford” or the “Company”) today reported the following results and performance measures for the fourth quarter and year ended December 31, 2020. Unless otherwise stated, all reported results compare the fourth quarter and year ended December 31, 2020, with the fourth quarter and year ended December 31, 2019 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.
STRATEGIC OVERVIEW
•High-growth, fee-based business model
•Diversified platform of multiple fee generators
•Seeks to grow in two primary areas:
◦Grow our existing REIT platforms accretively and create new platforms; and
◦Grow our service businesses via increased AUM and third-party business
•Highly-aligned management team with superior long-term track record
•Leader in asset and investment management for the real estate & hospitality sectors

FINANCIAL AND OPERATING HIGHLIGHTS
•Net loss attributable to common stockholders for the fourth quarter of 2020 totaled $22.3 million, or $9.46 per diluted share.
•Total revenue for the fourth quarter of 2020 was $62.1 million.
•Adjusted EBITDA for the fourth quarter was $7.1 million.
•At the end of the fourth quarter of 2020, the Company had approximately $7.2 billion of gross assets under management.
•As of December 31, 2020, the Company had corporate cash of approximately $43.3 million.

OPENKEY UPDATE
Ashford currently owns a 49% interest in OpenKey. OpenKey is the universal, industry-standard smartphone App for keyless entry in hotel guestrooms. OpenKey continues to expand its platform with 225 hotels under contract at the end of the fourth quarter. As the hospitality industry strives to implement measures to provide a clean and safe environment for guests, the Company expects that the digital benefits OpenKey offers, such as automated check-in (bypassing the front desk), keyless entry, and secure digital

The following information was filed by Ashford Inc. (AINC) on Thursday, February 25, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Ashford Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Ashford Inc..

Continue

Assess how Ashford Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Ashford Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Mgmt Change
Legal
Other
Filter Subcategory:
All
Expense
Dividend
Product
Shares
Geography
Cash Flow
Debt
Earnings
Income
Other
Inside Ashford Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity (Deficit)
Consolidated Statements Of Operations
Acquisitions
Acquisitions (Tables)
Acquisitions - Acquisition Schedules (Details)
Acquisitions - Narrative (Details)
Acquisitions - Purchase Price And Final Allocation (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Concentration Of Risk
Concentration Of Risk (Details)
Concentration Of Risk (Tables)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Dcp Activity (Details)
Employee Benefit Plans - Narrative (Details)
Equity (Deficit)
Equity (Deficit) (Tables)
Equity (Deficit) - Narrative (Details)
Equity (Deficit) - Noncontrolling Interest In Consolidated Entities (Details)
Equity-Based Compensation
Equity-Based Compensation (Tables)
Equity-Based Compensation - Components Of Equity-Based Compensation (Details)
Equity-Based Compensation - Narrative (Details)
Equity-Based Compensation - Stock Option Activity (Details)
Equity-Based Compensation - Stock Unit Activity (Details)
Equity-Based Compensation - Weighted Average Assumptions (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Effect Of Fair Value Measured Assets And Liabilities On The Condensed Consolidated Statements Of Operations (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Restricted Investment (Details)
Fair Value Measurements - Rollforward Of Contingent Consideration Liability (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Goodwill (Details)
Goodwill And Intangible Assets, Net - Intangible Assets (Details)
Goodwill And Intangible Assets, Net - Narrative (Details)
Income (Loss) Per Share
Income (Loss) Per Share (Tables)
Income (Loss) Per Share - Basic And Diluted Income (Loss) Per Share (Details)
Income (Loss) Per Share - Diluted Income (Loss) Per Share (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Income Tax (Expense) Benefit (Details)
Income Taxes - Narrative (Details)
Income Taxes - Net Deferred Asset (Liability) (Details)
Income Taxes - Reconciliation Of Income Tax Benefit To Expense (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Benefit (Details)
Leases
Leases (Tables)
Leases - Lease Balances (Details)
Leases - Lease Expense And Cash Outflows From Operating And Finance Leases (Details) (Details)
Leases - Maturities Of Operating And Financing Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Weighted-Average Remaining Lease Terms And Discount Rates (Details)
Mezzanine Equity
Mezzanine Equity (Tables)
Mezzanine Equity - Narrative (Details)
Mezzanine Equity - Preferred Stock Cumulative Dividends (Details)
Mezzanine Equity - Redeemable Noncontrolling Interests (Details)
Mezzanine Equity - Unit Activity (Details)
Notes Payable, Net
Notes Payable, Net (Tables)
Notes Payable, Net - Maturities Of Debt (Details)
Notes Payable, Net - Narrative (Details)
Notes Payable, Net - Schedule Of Notes Payable (Details)
Organization And Description Of Business
Organization And Description Of Business (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Related Party Transactions
Related Party Transactions (Tables)
Related Party Transactions - Amounts Due (To) From Related Parties (Details)
Related Party Transactions - Narrative (Details)
Related Party Transactions - Performance Obligations (Details)
Related Party Transactions - Summary Of Revenue (Details)
Revenues
Revenues (Tables)
Revenues - Deferred Income Activity (Details)
Revenues - Disaggregated Revenue (Details)
Revenues - Narrative (Details)
Revenues - Remaining Performance Obligations (Details)
Revenues - Revenue By Geographic Information (Details)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Selected Financial Quarterly Data (Unaudited)
Selected Financial Quarterly Data (Unaudited) (Details)
Selected Financial Quarterly Data (Unaudited) (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Narrative (Details)
Significant Accounting Policies - Noncontrolling Interests (Details)
Significant Accounting Policies - Ownership Interest In Rea Holdings (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Fair Value Of Financial Instruments
Summary Of Fair Value Of Financial Instruments (Details)
Summary Of Fair Value Of Financial Instruments (Tables)
Ticker: AINC
CIK: 1604738
Form Type: 10-K Annual Report
Accession Number: 0001604738-21-000019
Submitted to the SEC: Mon Mar 15 2021 6:05:37 PM EST
Accepted by the SEC: Tue Mar 16 2021
Period: Thursday, December 31, 2020
Industry: Management Consulting Services

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/ainc/0001604738-21-000019.htm