Pursuit Attractions and Hospitality, Inc. (PRSU)

Gross profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	40,559	53,440	24,098	-46,932	-116,175
Revenue	US$ in thousands	366,488	350,285	299,327	507,340	415,435
Gross profit margin		11.07%	15.26%	8.05%	-9.25%	-27.96%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $40,559K ÷ $366,488K
= 11.07%

The gross profit margin of Pursuit Attractions and Hospitality, Inc. demonstrates significant variability over the observed period from December 31, 2020, through December 31, 2024. In 2020, the company reported a negative gross profit margin of approximately -27.96%, indicating that the cost of goods sold exceeded total revenues, which could suggest operating losses at the gross profit level or substantial cost management challenges during that period. The situation improved markedly in 2021, with the gross profit margin rising to around -9.25%, reflecting a reduction in negative margin but still indicating that the company was not generating gross profit during that year.

A substantial turnaround is observed in 2022 when the gross profit margin crosses into positive territory at approximately 8.05%, signifying an improvement in the company's ability to control costs relative to sales and potentially indicating enhanced operational efficiency or increased pricing power. This positive trend continues into 2023, with the gross profit margin further increasing to approximately 15.26%, signaling a period of robust gross profitability and effective revenue-cost management.

However, in 2024, the gross profit margin declines to about 11.07%. Although still positive, this reduction suggests a slight contraction in gross profitability, which may be attributable to increased costs, pricing pressures, or changes in product or service mix. Overall, the trend indicates that Pursuit Attractions and Hospitality, Inc. experienced a transition from significant negative margins to gradually improving and subsequently stabilized positive gross profit margins, reflecting operational and possibly strategic adjustments that enhanced its gross profitability over the analyzed period.