Record Revenue and Growth in Fiscal Year 2024
Total revenues increased 13% to a record $895 million compared to $794 million in fiscal year 2023. Income from operations increased 44% to $78.1 million compared to $54.2 million in fiscal year 2023. Adjusted EBITDA increased 26% to a record $112.1 million compared to $89.2 million in fiscal year 2023.
Expansion and New Partnerships
The company added seven new maritime health and wellness centers, including five new ship builds, and entered a new seven-year agreement with Royal Caribbean International and Celebrity Cruises.
Medi-Spa Revenue Growth
Same spa revenue for Medi-Spa services increased more than 30% year-over-year. The number of ships offering Medi-Spa services increased to 147, with plans to expand to 151 ships.
Strong Balance Sheet and Capital Structure
Debt reduced to $100 million, with $58.6 million in cash. A share repurchase program and quarterly dividend payments were initiated.