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OneSpaWorld (OSW) investor relations material
OneSpaWorld Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record third quarter results with total revenues of $258.5M, net income of $24.3M, and adjusted EBITDA of $35.0M, marking 18 consecutive quarters of year-over-year growth in both total revenues and adjusted EBITDA.
Net income rose 13% to $24.3M for Q3 2025, with improved operating income and reduced interest expense.
Growth driven by higher guest spend, fleet expansion, and increased revenue days, with new ship builds and expanded high-value services.
Continued execution of asset-light business model, generating strong free cash flow and enabling increased dividends, share repurchases, and debt reduction.
Integration of AI technologies and operational improvements enhanced efficiency and productivity.
Financial highlights
Q3 2025 revenues: $258.5M (+7% YoY); net income: $24.3M (+13% YoY); adjusted EBITDA: $35.0M (+6% YoY).
Year-to-date (nine months) revenues: $718.9M (+6% YoY); net income: $59.6M (+2% YoY); adjusted EBITDA: $92.0M (+8% YoY).
Adjusted net income for Q3: $30.4M ($0.29 per diluted share); basic EPS: $0.24.
Service margin was 17.3%, higher than Q1 and Q2 2025 but slightly below Q3 2024 due to mix.
Cash at quarter end: $30.8M; total liquidity: $80.8M; total debt: $85.2M.
Outlook and guidance
Fiscal 2025 revenue expected to increase 8% at midpoint to $960–$965M; adjusted EBITDA guidance raised to $122–$124M, up 10% at midpoint YoY.
Q4 2025 revenue expected at $241–$246M; adjusted EBITDA at $30–$32M.
Management expects sufficient liquidity to meet capital requirements and debt covenants over the next twelve months.
No material impact expected from global minimum tax due to ongoing reorganization.
Ongoing focus on expanding high-value services and leveraging technology for operational efficiency.
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