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Ashford Inc. (AINC) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Ashford Inc.

HISTORY TOOLS
CIK: 1604738 Ticker: AINC
EXHIBIT 99.1

ashfordk150dpa08.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 SECOND QUARTER 2021 RESULTS
Gross Assets Under Management $7.6 Billion at Quarter End
Company Publishes Investor Presentation with Long-Term Growth Outlook
OpenKey Continues to See Significant Increase in Demand for its Digital Key Product
Red Hospitality & Leisure Expands to The Ritz-Carlton Turks & Caicos

DALLAS, July 29, 2021 - Ashford Inc. (NYSE American: AINC) (“Ashford” or the “Company”) today reported the following results and performance measures for the second quarter ended June 30, 2021. Unless otherwise stated, all reported results compare the second quarter ended June 30, 2021, with the second quarter ended June 30, 2020 (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
•Four paths to growth:
•Recovery of the hospitality industry;
•Increase assets under management (AUM);
•Growth of third-party business; and
•Acquisition or incubation of additional businesses
•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 quarter was $(14.7) million, or $(5.31) per diluted share. Adjusted net income for the quarter was $8.7 million, or $1.17 per diluted share.
•Total revenue, excluding cost reimbursement revenue, for the quarter was $40.1 million, reflecting an 87% growth rate over the prior year quarter.
•Adjusted EBITDA for the quarter was $10.7 million, reflecting a 235% growth rate over the prior year quarter.
•At the end of the second quarter, the Company had approximately $7.6 billion of gross assets under management.
•At the end of the second quarter, the Company’s advised REITs had total net working capital of $700 million.
•As of June 30, 2021, the Company had corporate cash of approximately $27.6 million.
•During the quarter, the Company published an investor presentation outlining the growth prospects for its businesses over the coming years.

The following information was filed by Ashford Inc. (AINC) on Friday, July 30, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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

  • Voting Procedures
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  • Executive Team
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  • Peers / Competitors

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Inside Ashford Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Equity (Deficit)
Condensed Consolidated Statements Of Operations
Commitments And Contingencies
Commitments And Contingencies (Details)
Deferred Compensation Plan
Deferred Compensation Plan (Tables)
Deferred Compensation Plan - Dcp Activity (Details)
Equity (Deficit)
Equity (Deficit) (Tables)
Equity (Deficit) - Noncontrolling Interest In Consolidated Entities (Details)
Equity-Based Compensation
Equity-Based Compensation (Tables)
Equity-Based Compensation - Components Of Equity-Based Compensation (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)
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)
Mezzanine Equity
Mezzanine Equity (Tables)
Mezzanine Equity - Narrative (Details)
Mezzanine Equity - Preferred Stock Cumulative Dividends (Details)
Mezzanine Equity - Redeemable Noncontrolling Interests (Details)
Notes Payable, Net
Notes Payable, Net (Details)
Notes Payable, Net (Tables)
Organization And Description Of Business
Organization And Description Of Business (Details)
Related Party Transactions
Related Party Transactions (Tables)
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)
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)
Significant Accounting Policies - Restricted Cash (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-Q Quarterly Report
Accession Number: 0001604738-21-000060
Submitted to the SEC: Mon Aug 16 2021 4:59:23 PM EST
Accepted by the SEC: Mon Aug 16 2021
Period: Wednesday, June 30, 2021
Industry: Management Consulting Services

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