OneSpaWorld Reports Record Third Quarter Fiscal 2025 Results

Core Insights - OneSpaWorld reported record financial results for the third quarter of fiscal 2025, with total revenues of $258.5 million, net income of $24.3 million, and adjusted EBITDA of $35.0 million, marking the 18th consecutive quarter of year-over-year growth in these metrics [1][2][4]. Financial Performance - Total revenues increased by 7% compared to the third quarter of 2024, driven by a 4% rise in average guest spend, fleet expansion from new ship builds, and a 1% increase in revenue days [7][8]. - Net income rose by 13% to $24.3 million, with adjusted net income reaching $30.4 million, reflecting a 11% increase year-over-year [17][31]. - Adjusted EBITDA increased by 6% to $35.0 million compared to the same quarter last year [7][31]. Operational Highlights - The company ended the quarter with health and wellness centers on 204 ships, an increase from 196 ships in the previous year, and 49 destination resort health and wellness centers [7][20]. - The average ship count for the quarter was 199, up from 195 in the third quarter of 2024 [21]. - The company launched wellness centers on four new ship builds during the quarter and plans to launch additional centers on two more ships by year-end [2][3]. Capital Allocation and Shareholder Returns - OneSpaWorld returned $4.1 million to shareholders through dividends and repurchased $17.6 million worth of shares during the quarter [3][12]. - The board approved a 25% increase in the quarterly dividend to $0.05 per share, payable on December 3, 2025 [11][12]. - The company ended the quarter with $30.8 million in cash and total liquidity of $80.8 million, positioning it well for future growth [5][17]. Guidance and Outlook - The company expects total revenues for fiscal 2025 to increase by 8% and adjusted EBITDA to rise by 10% at the mid-point of guidance ranges compared to fiscal 2024 results [3][10].