OneSpaWorld Q2 2023 Earnings Report
Key Takeaways
OneSpaWorld reported a strong second quarter with a 57% increase in total revenues, reaching a record $200.5 million. Income from operations increased by $12.4 million to a record $13.4 million, and adjusted EBITDA more than doubled to a record $21.6 million. The company has increased its fiscal year 2023 revenue and adjusted EBITDA guidance, reflecting confidence in its business prospects.
Total revenues increased by 57% to $200.5 million compared to Q2 2022.
Income from operations rose to $13.4 million, a $12.4 million increase from the previous year.
Adjusted EBITDA increased to $21.6 million, more than doubling from Q2 2022.
The company ended the quarter with $50.0 million in liquidity, including cash and borrowing capacity.
OneSpaWorld
OneSpaWorld
OneSpaWorld Revenue by Segment
Forward Guidance
OneSpaWorld introduces Q3 2023 guidance for revenues of $205 - $210 million and adjusted EBITDA of $21 - $23 million. It increases Fiscal 2023 revenues guidance to $770 - $790 million from $710 - $730 million and increases Fiscal 2023 adjusted EBITDA guidance to $80 - $86 million from $70 - $76 million.
Positive Outlook
- Revenues are expected to be between $205 and $210 million for Q3 2023.
- Adjusted EBITDA is projected to be between $21 and $23 million for Q3 2023.
- Fiscal year 2023 revenue guidance has been increased to $770 - $790 million.
- Fiscal year 2023 adjusted EBITDA guidance has been raised to $80 - $86 million.
- The company expects to continue to generate positive cash flow from operations in the third quarter of 2023 and throughout fiscal year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income