OneSpaWorld(US:OSW)2026-02-18 12:00Financial Performance - Total revenues for fiscal year 2025 increased 7% to $961.0 million compared to $895.0 million for fiscal year 2024[11] - Adjusted EBITDA for fiscal year 2025 increased 10% to $123.3 million compared to $112.1 million for fiscal year 2024[18] - Net income for fiscal year 2025 decreased 2% to $71.6 million compared to $72.9 million for fiscal year 2024[18] - Total revenues for the fourth quarter of 2025 increased 11% to $242.1 million compared to $217.2 million in the fourth quarter of 2024[12] - Adjusted EBITDA for the fourth quarter of 2025 increased 17% to $31.2 million compared to $26.7 million in the fourth quarter of 2024[12] - Net income for Q4 2025 was $12.06 million, a decrease of 16% from $14.39 million in Q4 2024[26] - Adjusted net income per diluted share for Q4 2025 was $0.12, down from $0.14 in Q4 2024[26] - Adjusted net income for Q4 2025 increased to $24,174 million, up 12.9% from $21,432 million in Q4 2024[34] - Adjusted EBITDA for Q4 2025 reached $31,214 million, representing a 16.4% increase compared to $26,700 million in Q4 2024[35] Revenue Breakdown - Service revenues for Q4 2025 reached $197.34 million, an increase of 12% compared to Q4 2024[26] - Product revenues for Q4 2025 were $44.78 million, reflecting an 8% increase from Q4 2024[26] - Total revenues for the year ended December 31, 2025, amounted to $961.00 million, a 7% increase from $895.02 million in 2024[26] Future Projections - The company expects fiscal year 2026 total revenues to exceed $1 billion, with guidance of $1.01 to $1.03 billion[14] - The company forecasts a period-end ship count of 208 for Q1 2026 and 210 for FY 2026[27] Shareholder Returns - The board declared a quarterly dividend of $0.05 per share, payable on March 25, 2026[15] - The company repurchased 3.9 million common shares for $75.4 million during fiscal year 2025[16] Cash and Liquidity - Cash at December 31, 2025 totaled $17.5 million, with total liquidity of $67.5 million[9] Operational Metrics - The company ended fiscal year 2025 with health and wellness centers on 206 ships, an increase from 199 ships in the previous year[6] - The average ship count for Q4 2025 was 199, compared to 188 in Q4 2024[26] - Average weekly revenues per ship increased to $89,428 in Q4 2025 from $83,913 in Q4 2024[26] Expenses and Impairments - Capital expenditures for Q4 2025 were $5.05 million, up from $3.31 million in Q4 2024[26] - The company reported a long-lived assets impairment of $2.97 million in Q4 2025, a significant increase of 689% from the previous year[26] - Long-lived assets impairment for Q4 2025 was $2,965 million, significantly higher than $376 million in Q4 2024[34] - Total income tax expense for Q4 2025 was $2,705 million, up 65.5% from $1,634 million in Q4 2024[35] - Interest expense for Q4 2025 was $1,256 million, slightly higher than $1,209 million in Q4 2024[35] - Restructuring expenses for Q4 2025 amounted to $2,703 million, with no such expenses recorded in Q4 2024[34] - The company recorded an inventory write-off of $348 million in Q4 2025 related to its exit from land-based health and wellness center operations in Asia[35] Stock-Based Compensation - Stock-based compensation for Q4 2025 was $2,335 million, a decrease of 19.7% from $2,907 million in Q4 2024[34] - The diluted net income per share for Q4 2025 was $0.24, compared to $0.20 in Q4 2024, marking a 20% increase[34]