OneSpaWorld Q4 2023 Earnings Report
Key Takeaways
OneSpaWorld reported a 15% increase in total revenues for Q4 2023, reaching $194.8 million, and a 13% increase in Adjusted EBITDA to $23.4 million. The company's performance was driven by an increase in average ship count and successful revenue growth initiatives. They ended the year with total liquidity of $48.9 million, after repaying $5.0 million of debt and repurchasing shares.
Total revenues increased 15% to $194.8 million compared to Q4 2022.
Income from operations increased to $12.6 million, including a $2.1 million asset impairment charge.
Adjusted EBITDA increased 13% to $23.4 million compared to Q4 2022.
Unlevered after-tax free cash flow decreased to $16.9 million compared to Q4 2022.
OneSpaWorld
OneSpaWorld
OneSpaWorld Revenue by Segment
Forward Guidance
OneSpaWorld anticipates continued growth and reaffirms its fiscal year 2024 guidance, projecting revenues between $850 to $870 million and Adjusted EBITDA between $90 to $100 million. For the first quarter of 2024, the company expects revenues of $204 to $209 million and Adjusted EBITDA of $21.5 to $23.5 million.
Positive Outlook
- The Company expects to continue to generate positive cash flow from operations and after-tax free cash flow throughout fiscal year 2024.
- Total Revenues $ 204-209 million
- Adjusted EBITDA $ 21.5-23.5 million
- Total Revenues $ 850-870 million
- Adjusted EBITDA $ 90-100 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income