Onespaworld Holdings ( (OSW) ) has released its Q1 earnings. Here is a breakdown of the information Onespaworld Holdings presented to its investors.
OneSpaWorld Holdings Limited, headquartered in Nassau, Bahamas, is a leading global provider of health and wellness services and products, primarily operating on cruise ships and in destination resorts worldwide. The company is renowned for its comprehensive suite of premium services, treatments, and products, maintaining a strong presence in the cruise industry segment of the international leisure market.
In its first quarter fiscal 2025 earnings report, OneSpaWorld announced total revenues of $219.6 million, a net income of $15.3 million, and an adjusted EBITDA of $26.6 million. The company reaffirmed its fiscal year 2025 guidance and introduced its second-quarter guidance with expected revenues between $235 million and $240 million and adjusted EBITDA ranging from $28 million to $30 million. Additionally, the board declared a quarterly dividend of $0.04 per share and authorized a new $75 million share repurchase program.
Key financial highlights include a 4% increase in total revenues compared to the first quarter of 2024, driven by a rise in service and product revenues. The company reported a net income of $15.3 million, reflecting a decrease from the previous year’s $21.2 million due to a prior benefit from warrant liabilities. Adjusted EBITDA rose by 5% to $26.6 million. The company ended the quarter with $23.8 million in cash and total liquidity of $73.8 million, underscoring its strong financial position.
Operationally, OneSpaWorld expanded its network, ending the quarter with health and wellness centers on 199 ships and 50 destination resorts. The company continues to invest in its partnerships and innovate guest experiences, adding Norwegian Cruise Lines’ first Prima Plus Class ship, Norwegian Aqua™, to its fleet and planning to introduce health and wellness centers on eight new ship builds this year.
Looking ahead, OneSpaWorld remains confident in its ability to navigate the dynamic economic environment, leveraging its operating strategies and global business model. The company anticipates high-single-digit growth in total revenues and adjusted EBITDA for fiscal 2025, driven by strategic initiatives and the introduction of new health and wellness centers.