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Ashford Inc. (AINC) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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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 SECOND QUARTER 2022 RESULTS
Gross Assets Under Management $8.0 Billion at Quarter End
Net Loss Attributable to Common Stockholders was $(3.5) Million
Adjusted EBITDA Increased 131% to $24.8 Million
Trailing 12-Month Adjusted EBITDA Through the Second Quarter was $71.8 Million
Adjusted Net Income Per Share Increased 89% to $2.21
Completed Acquisition of Chesapeake Hospitality
Entered into New $100 Million Corporate Financing Commitment
DALLAS, August 3, 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 second quarter ended June 30, 2022. Unless otherwise stated, all reported results compare the second quarter ended June 30, 2022, with the second quarter ended June 30, 2021 (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 $(3.5) million, or $(1.34) per diluted share. Adjusted net income for the quarter was $17.3 million, or $2.21 per diluted share, reflecting an 89% growth rate over the prior year quarter.
•Total revenue, excluding cost reimbursement revenue, for the quarter was $78.2 million, reflecting a 95% growth rate over the prior year quarter.
•Adjusted EBITDA for the quarter was $24.8 million, reflecting a 131% growth rate over the prior year quarter.
•Adjusted EBITDA on a trailing 12-month basis as of the end of the quarter was $71.8 million.
•At the end of the second quarter, the Company had approximately $8.0 billion of gross assets under management.


The following information was filed by Ashford Inc. (AINC) on Wednesday, August 3, 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-Q Quarterly 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-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
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Details)
Accounts Payable And Accrued Expenses (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - Acquisition Schedules (Details)
Acquisitions - Narrative (Details)
Acquisitions - Purchase Price And Final Allocation (Details)
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 - 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)
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 (Tables)
Notes Payable, Net - Schedule Of Debt (Details)
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 - 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 - 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)
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: 0001604738-22-000045
Submitted to the SEC: Fri Aug 12 2022 4:04:37 PM EST
Accepted by the SEC: Fri Aug 12 2022
Period: Thursday, June 30, 2022
Industry: Management Consulting Services

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