OneSpaWorld Q2 2020 Earnings Report
Key Takeaways
OneSpaWorld's Q2 2020 results were significantly impacted by the COVID-19 pandemic, with total revenues decreasing by 99% to $1.0 million. The company reported a net loss of $31.4 million and an adjusted EBITDA of ($20.1) million. To enhance liquidity, the company completed a $75 million equity financing.
Total revenues decreased 99% to $1.0 million compared to $140.4 million in the second quarter of fiscal 2019, primarily pertaining to e-commerce sales of products.
Net loss attributable to OneSpaWorld was ($31.4) million as compared to net income of $3.6 million in the second quarter of fiscal 2019.
Adjusted EBITDA was ($20.1) million as compared to $15.0 million in the second quarter of 2019.
Cash and borrowing capacity under our line of credit at the end of the second fiscal quarter totalled $79.6 million as compared to $20.5 million at the end of the first quarter of fiscal 2020.
OneSpaWorld
OneSpaWorld
OneSpaWorld Revenue by Segment
Forward Guidance
The Company is not providing financial guidance due to the ongoing business disruption and substantial uncertainty surrounding the impact of the COVID-19 pandemic on its business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income