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Dec 31, 2025
OneSpaWorld Q4 2025 Earnings Report
OneSpaWorld reported record fourth quarter 2025 results with double-digit revenue growth and higher adjusted profitability, despite restructuring and impairment charges.
Key Takeaways
OneSpaWorld generated Q4 2025 total revenues of 242127000, up 11% year over year, with net income of 12062000 and Adjusted EBITDA of 31214000, reflecting fleet expansion and higher guest spend.
Total revenues increased 11% to 242127000 driven by fleet expansion and higher revenue days.
Net income was 12062000, or 0.12 per diluted share, impacted by 5700000 of restructuring and impairment charges.
Adjusted EBITDA rose 17% to 31214000 with margin expansion.
Period-end ship count increased to 206 with average ship count of 199.
Revenue by Segment
Forward Guidance
For the first quarter of 2026, the company expects total revenues of 241000000 to 246000000 and Adjusted EBITDA of 30000000 to 32000000, and reaffirmed full-year 2026 guidance for revenues exceeding 1000000000 and Adjusted EBITDA of 128000000 to 138000000.
Positive Outlook
- Q1 2026 revenue guidance of 241000000 to 246000000.
- Full-year 2026 revenue expected to exceed 1000000000.
- Adjusted EBITDA growth expected in 2026.
- Continued fleet expansion with new ship builds.
- Strong cash flow supporting shareholder returns.
Challenges Ahead
- Restructuring and impairment charges impacted Q4 results.
- Exit from land-based operations in Asia reduced resort count.
- Destination resort revenues declined year over year.
- Exposure to cruise industry demand cycles.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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