OneSpaWorld Announces Preliminary Fourth Quarter and Fiscal Year 2025 Revenue and Adjusted EBITDA and Introduces Fiscal 2026 Revenue and Adjusted EBITDA Guidance
Company to Present at the ICR Conference Today, January 12, 2026
OneSpaWorld Holdings Limited, (NASDAQ:OSW), the pre-eminent global provider of health and wellness products and services on-board cruise ships and in destination resorts around the world, today is providing preliminary revenue and Adjusted EBITDA expectations for Fiscal Year 2025 and introducing select Fiscal Year 2026 guidance. The Company is providing this update ahead of investor meetings and its fireside chat presentation at the ICR Conference 2026.
Leonard Fluxman, Executive Chairman and Chief Executive Officer of OneSpaWorld, commented: "Our powerful operating platform and strategic execution delivered an excellent year of growth and shareholder value creation with 2025, representing another landmark year for our Company. The year saw us achieve best-ever total revenue and Adjusted EBITDA; return $92.9 million to shareholders through share repurchases ($75.4 million) and dividends ($17.5 million); and invest $15.0 million in debt reduction while maintaining positive cash flow. We ended 2025 with exceptional onboard performance for our New Year's cruises and we begin 2026 strongly positioned, expecting continued momentum, as we advance growth initiatives, deliver innovative products and services, provide exceptional passenger experiences, and operate additional health and wellness centers on new ship builds."
On a Preliminary Basis, for the Fourth Quarter (13-weeks ended December 31, 2025), the Company expects:
- Total revenues in the range of $239.5 million to $244.5 million, versus its previous guidance of $241 million to $246 million, representing growth of 11% at the mid-point of the range from fourth quarter fiscal 2024 total revenues of $217.2 million; and
- Adjusted EBITDA in the range of $30 million to $32 million, unchanged from its previous guidance, representing growth of 16% at the mid-point of the range from fourth quarter fiscal 2024 adjusted EBITDA of $26.7 million.
On a Preliminary Basis, for the Fiscal Year 2025 (52-weeks ended December 31, 2025), the Company expects:
- Total revenues in the range of $958.5 million to $963.5 million, versus previous guidance of $960 million to $965 million, representing growth of 7% at the mid-point of the range from total revenues of $895 million in fiscal year 2024; and
- Adjusted EBITDA in the range of $122 million to $124 million, unchanged from its previous guidance, representing growth of 10% at the mid-point of the range from Adjusted EBITDA of $112.1 million in fiscal year 2024.
Reorganization of Certain International Business Units
As the Company plans for its long-term expansion and focuses resources on the areas of the business that deliver strong revenue and margin growth, on December 31, 2025, the Company completed a reorganization of its operations in the United Kingdom and Italy. In addition, the Company is in the process of exiting its land-based health and wellness center operations in Asia. The revenue related to these operations in 2025 was approximately $23 million and is excluded from 2026 guidance.
The Company is introducing Fiscal Year 2026 Guidance (52 weeks ending December 31, 2026) and expects:
- Total revenues in the range of $1.01 billion to $1.03 billion versus pro forma 2025 revenue of approximately $938 million at the mid-point of its preliminary guidance range; and
- Adjusted EBITDA in the range of $128 million to $138 million with no impact from the business reorganization noted above.
Commenting on the reorganization announcement, Stephen Lazarus, President, Chief Financial Officer and Chief Operating Officer, noted: "Today's reorganization will bring more focus to our strategic priorities to continue our successful track record of revenue and profit growth. I'm confident fiscal 2026 will be another outstanding year with significant milestones achieved."
As previously announced, the Company is scheduled to hold a fireside chat presentation at the ICR Conference 2026, held today, Monday, January 12, 2026, at 2:00 p.m. Eastern Time. The webcast of the presentation will be broadcast over the internet and can be accessed at the Company's investor relations website, www.onespaworld.com. The presentation is expected to conclude by 2:25 p.m. Eastern Time. A replay of the broadcast will remain on the Company's investor relations website for one year.
The Company is providing a preliminary range for Fourth Quarter and Fiscal Year 2025 total revenue and Adjusted EBITDA and introducing guidance for fiscal 2026 to allow it to speak to these topics during the ICR Conference today. Investors should not expect the Company to make updates to guidance ahead of regularly scheduled quarterly earnings dates in the future. The Company noted that its expectations are estimated and preliminary and subject to quarter and year-end closing adjustments. As the Company has not completed its quarter and year-end fiscal close or the audit of its 2025 financial statements, the revenue and EBITDA expectation presented in this press release may change.
About OneSpaWorld:
Headquartered in Nassau, Bahamas, OneSpaWorld is one of the largest health and wellness services companies in the world. OneSpaWorld's distinguished health and wellness centers offer guests a comprehensive suite of premium health, wellness, fitness and beauty services, treatments, and products, currently onboard 207 cruise ships and at 46 destination resorts around the world. OneSpaWorld holds the leading market position within the cruise industry segment of the international leisure market, which it has earned over six decades upon its exceptional service; expansive global recruitment, training and logistics platforms; irreplicable operating infrastructure; powerful team; and product innovation, delivering tens of millions of extraordinary guest experiences and outstanding service to its cruise line and destination resort partners.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of the Company may differ from its actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," or the negative or other variations thereof and similar expressions are intended to identify such forward looking statements. These forward-looking statements include, without limitation, expectations with respect to future performance of the Company, including projected financial information (which is not audited or reviewed by the Company's auditors), and the future plans, operations and opportunities for the Company and other statements that are not historical facts. These statements are based on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Factors that may cause such differences include, but are not limited to: the demand for the Company's services together with the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors or changes in the business environment in which the Company operates; changes in consumer preferences or the market for the Company's services; changes in applicable laws or regulations; the availability or competition for opportunities for expansion of the Company's business; difficulties of managing growth profitably; the loss of one or more members of the Company's management team; loss of a major customer, and other risks and uncertainties included from time to time in the Company's reports (including all amendments to those reports) filed with the SEC. The Company cautions that the foregoing list of factors is not exclusive. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this communication.
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ICR:
Investors:
Allison Malkin, 203-682-8225
allison.malkin@icrinc.com
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