OneSpaWorld Q3 2020 Earnings Report
Key Takeaways
OneSpaWorld reported a 99% decrease in total revenues to $1.8 million compared to $144.9 million in the third quarter of fiscal 2019. The company's net loss was ($22.4) million, as compared to $2.4 million in the third quarter of fiscal 2019. The results were materially impacted by the global COVID-19 pandemic.
Total revenues decreased 99% to $1.8 million compared to $144.9 million in the third quarter of fiscal 2019.
Net (loss) income attributable to OneSpaWorld was ($22.4) million as compared to $2.4 million in the third quarter of fiscal 2019.
Adjusted EBITDA was ($12.2) million as compared to $15.4 million in the third quarter of 2019.
The Company ended the third fiscal quarter with health and wellness centers on 166 ships, all of which were closed as of March 14, 2020, and all except three remained closed at quarter end pending resumption of voyages.
OneSpaWorld
OneSpaWorld
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. Notwithstanding the foregoing, the Company expects to sustain a GAAP and adjusted net loss for its fourth quarter and fiscal 2020 fiscal year.