Q1 2025 Onespaworld Holdings Ltd Earnings Call Transcript

Apr 30, 2025 / 02:00 PM GMT

Release Date Price: €15 (+1.35%)

Transcript 10-Q8-K

Key Points

Positve

OneSpaWorld Holdings Ltd (OSW) reported a 4% increase in total revenues to $219.6 million compared to the first quarter of 2024.
The company experienced a 5% increase in adjusted EBITDA to $26.6 million, despite non-recurring severance expenses.
OSW expanded its operations by adding new ships and agreements with long-standing partners, including a new health and wellness center on Norwegian Cruise Line's first Prima Plus class ship.
The company continues to innovate with high-value services such as Medi-spa, IV therapy, and acupuncture, contributing to a 20% growth in these treatments.
OSW's board approved a new $75 million share repurchase program, demonstrating a commitment to enhancing shareholder value.

Negative

Income from operations slightly decreased to $16.8 million, impacted by $2.5 million in non-recurring severance expenses.
Net income decreased to $15.3 million from $21.2 million in the first quarter of 2024, primarily due to changes in the fair value of warrant liabilities.
The company experienced a $1.5 million decrease in its land-based spa business, partly due to hotel closures.
Salary, benefits, and payroll taxes increased to $11 million from $8.5 million, driven by severance expenses and stock unit vesting.
Despite strong performance, the company remains cautious about potential economic downturns affecting consumer spending and cruise activity.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

OSW.OQ - OneSpaWorld Holdings Ltd
Q1 2025 Onespaworld Holdings Ltd Earnings Call
Apr 30, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the One Spa world first quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0.

After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press then 1 on a touch tone phone. To withdraw your question, please press 2. Please note this event is being recorded. I would now like to turn the conference over to Alison Malkin of ICR. Please go ahead.

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Unidentified_2 [2]
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