OneSpaWorld Q1 2024 Earnings Report
Key Takeaways
OneSpaWorld announced strong first quarter results, exceeding guidance with a 16% increase in total revenue, a 52% increase in income from operations, and a 31% increase in adjusted EBITDA. The company has increased its fiscal year 2024 revenue and adjusted EBITDA guidance and the Board of Directors authorized a $50 million share repurchase program.
Total revenues increased 16% to $211.2 million compared to the first quarter of 2023.
Income from operations increased 52% to $17.0 million compared to the first quarter of 2023.
Adjusted EBITDA increased 31% to $25.3 million compared to the first quarter of 2023.
The Company ended the first quarter with health and wellness centers on 193 ships and 51 destination resorts.
OneSpaWorld
OneSpaWorld
OneSpaWorld Revenue by Segment
Forward Guidance
The company has increased its fiscal year 2024 guidance, now expecting revenues to increase to $860 - $880 million and adjusted EBITDA to increase to $95 - $105 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income