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Ashford Inc. (AINC) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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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 FOURTH QUARTER AND
FULL YEAR 2021 RESULTS
Gross Assets Under Management $7.8 Billion at Quarter End
$0.9 Billion of Capital Raised at Advised REITs in 2021
Company Increases Focus on Growing AUM
Company Reports Record for Quarterly Adjusted EBITDA
JSAV Rebrands as INSPIRE; Achieves 427% Revenue Growth in the Quarter
Strong Third-Party Growth at Remington and Premier
Ashford Securities Continues Ramp-up in Capital Raising
RED Hospitality Expands into Puerto Rico

DALLAS, February 24, 2022 - Ashford Inc., an alternative asset management company with a portfolio of strategic operating businesses (NYSE American: AINC) (“Ashford” or the “Company”), today reported the following results and performance measures for the fourth quarter and full year ended December 31, 2021. Unless otherwise stated, all reported results compare the fourth quarter and year ended December 31, 2021, with the fourth quarter and year ended December 31, 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 $(5.0) million, or $(1.79) per diluted share. Net loss attributable to common stockholders for the full year was $(46.0) million, or $(16.68) per diluted share. Adjusted net income for the quarter was $17.1 million, or $2.24 per diluted share. Adjusted net income for the full year was $39.0 million, or $5.20 per diluted share.
•Total revenue, excluding cost reimbursement revenue, for the quarter was $62.0 million, reflecting a 127% growth rate over the prior year quarter. Total revenue, excluding cost reimbursement revenue, for the full year was $180.6 million, reflecting a 34% growth rate over the prior year.


The following information was filed by Ashford Inc. (AINC) on Thursday, February 24, 2022 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.

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Inside Ashford Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity (Deficit)
Consolidated Statements Of Operations
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Details)
Accounts Payable And Accrued Expenses (Tables)
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)
Goodwill And Intangible Assets, Net - Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense (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 - Additional Information (Details)
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 - 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 - Schedule Of Debt (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)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Tables)
Quarterly Financial Data (Unaudited) - Schedule Of Error Corrections And Prior Period Adjustments (Details)
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 - Revenue By Geographic Information (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Long-Lived Assets By Geographic Areas (Details)
Segment Reporting - Schedule Of Segment Reporting Information (Details)
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)
Significant Accounting Policies - Schedule Of Error Corrections And Prior Period Adjustments (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: 0001604738-22-000015
Submitted to the SEC: Fri Mar 25 2022 4:14:52 PM EST
Accepted by the SEC: Fri Mar 25 2022
Period: Friday, December 31, 2021
Industry: Management Consulting Services

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