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Mar 31, 2023
Luxurban Q1 2023 Earnings Report
LuxUrban Hotels Inc. reported financial results for the full year ended December 31, 2022.
Key Takeaways
LuxUrban Hotels Inc. announced record 2022 financial results with net rental revenue rising 105% to $43.8 million from $21.4 million in 2021. The company reported a net loss of $(9.4) million, which included approximately $9.0 million of non-cash charges and $4.1 million of one-time costs. Adjusted cash net income was $3.8 million for 2022, and Adjusted EBITDA rose to $12.4 million.
Net rental revenue increased by 105% to $43.8 million compared to 2021.
Net loss included $9.0 million of non-cash charges and $4.1 million in one-time costs.
Adjusted cash net income reached $3.8 million for the year.
EBITDA improved to $8.3 million, and Adjusted EBITDA rose to $12.4 million.
Luxurban
Luxurban
Forward Guidance
For the year ending December 31, 2023, the Company is reiterating its previous guidance of net rental revenue of $115 to $120 million and EBIDTA of $21 to $25 million.