Record-Breaking Financial Performance
Total revenues increased 7% to a record $240.7 million. Income from operations rose 17% to a record $22.1 million. Net income increased 27% to $19.9 million. Adjusted EBITDA grew 13% to a record $30.5 million compared to the previous year.
Expansion and Innovation in Services
The company continued to introduce higher-value services such as medi-spa, IV Therapy, and Acupuncture, leading to over 20% growth in treatments. Medi-spa services were expanded to 147 ships, with plans to reach 151 ships by the end of the year.
AI-Driven Initiatives
AI initiatives are underway to enhance revenue and streamline operations. These include machine learning-powered recommendations and efficiency improvements through automation.
Strong Balance Sheet
The company ended the quarter with $36.2 million in cash and full availability on a $50 million revolving loan facility, resulting in total liquidity of $86.2 million.
New Partnerships and Fleet Expansion
Renewed partnership with Windstar Cruises and launched a new health and wellness center on Oceania Allura. Plans to introduce health and wellness centers on 7 new ships in the second half of the year.