Q2 2024 Onespaworld Holdings Ltd Earnings Call Transcript
Key Points
- Total revenues increased 12% to a record $224.9 million compared to $200.5 million in the second quarter of 2023.
- Income from operations increased 40% to a record $18.8 million compared to $13.4 million in the second quarter of 2023.
- Adjusted EBITDA increased 25% to $27.1 million compared to $21.6 million in the second quarter of 2023.
- Unlevered after-tax-free cash flow increased 18% to $23.8 million compared to $20.1 million in the second quarter of 2023.
- The Board of Directors adopted an annual cash dividend program, with an initial quarterly dividend payment of $0.04 per common share.
- Cost of services increased to $150.8 million from $137.2 million in the second quarter of 2023.
- Cost of products rose to $37.1 million compared to $32.2 million in the second quarter of 2023.
- Net income per diluted share was $0.15, which, while positive, reflects a modest increase compared to the overall revenue growth.
- The company continues to carry debt, with total debt reduced to $123.8 million as of June 30, 2024.
- Pre-booking revenue as a percentage of services remains at 23%, indicating room for improvement in this area.
Good day and welcome to the OneSpaWorld second-quarter fiscal 2024 earnings call. (Operator Instructions) Please note this event is being reported. I would now like to turn the conference over to Ms. Allison Malkin of ICR. Please go ahead.
Thank you. Good morning, and welcome to OneSpaWorld's second-quarter 2024 earnings conference call and webcast.
Before we begin, I'd like to remind you that certain statements and information made available on today's call and webcast may be deemed to constitute forward-looking statements. These forward-looking statements reflect our judgment and analysis only as of today. And actual results may differ materially from current expectations based on a number of factors affecting our business. Accordingly, you should not place undue reliance on these forward-looking statements. For a more thorough discussion of the risks and uncertainties associated with the forward-looking statements to be made in this conference call and webcast, we refer you to the disclaimer regarding forward-looking
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