📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

OneSpaWorld Holdings Limited operates health and wellness centers onboard cruise ships and at destination resorts in the United States and internationally. It offers massage and body care services and therapies, and aesthetics treatments; medi-spa services; and acupuncture, electric stimulation acupuncture, LED therapy, cupping, posture and gait analysis, and therapy for recovery. The company also provides fitness centers, and personalized training services and consultation; personal nutritional and dietary consultation, weight management, nutrition coaching and detoxification; hot and cold hydro-therapies and related amenities, such as thermal loungers, infrared saunas, snow rooms, laconiums, caldarium chambers, and hammams, as well as cold plunge pools, large therapeutic jacuzzis, and rooms surrounding occupants with layers of body cleansing salt crystals. In addition, the company offers products under the ELEMIS, Grown Alchemist, Kerastase, Keratin Complex, Thermage, Dysport, GoodFeet arch supports, Hyperice, and Megawhite teeth whitening brands. OneSpaWorld Holdings Limited was founded in 2017 and is based in Nassau, Bahamas.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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⭐ Superinvestors Holding OSW

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	1.06M	$24.4M	0.04%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used phrases like 'better-than-expected', 'record' revenues ($240.7M), and 'record' adjusted EBITDA ($30.5M), emphasizing 13% growth and a strong balance sheet with $86.2M liquidity. They detailed specific operational metrics (4% average guest spend increase, 23% pre-booking revenue) and raised adjusted EBITDA guidance.

Q3 2025

Confident Specific

Management repeatedly used 'record' and 'all-time' to describe results, cited '18th consecutive quarterly period of year-over-year growth', and provided specific numbers for revenue and adjusted EBITDA increases.

Q4 2025

Confident Specific

Management used language such as 'record Q4', 'exceptional performance', 'double-digit growth', '19 consecutive quarters of year-over-year growth', and 'fourth consecutive year of record performance', while providing specific figures like revenue of $242.1 million and Adjusted EBITDA of $31.2 million.

Q1 2026 latest

Confident Specific

Management used phrases like 'better-than-expected top and bottom-line results', '20th consecutive quarter of record total revenues and Adjusted EBITDA', and 'outstanding start' to emphasize strong momentum. Specific growth percentages (revenues +13%, EBITDA +21%) were provided throughout the call.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. The company delivered record Q1 results with double-digit growth and raised full-year guidance slightly. Key catalysts remain intact: new ship builds (6 in 2026), high-value service expansion (Medi-Spa, IV therapy), and AI-driven productivity enhancements. Pre-booked revenue growth (+17%) indicates strong forward demand, and improved staff retention (77%) supports operational stability. Risks include potential softness in European itineraries due to geopolitical uncertainty, but management believes their diversified model and focus on the top 11% of passengers insulate them. Next quarter, watch pre-booking trends, same-store productivity, and any updates on dynamic pricing AI rollout. Overall, the call reinforces confidence in sustained growth and margin expansion.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED OneSpaWorld reported record Q1 revenues of $247.6M, up 13% YoY, and Adjusted EBITDA of $32.2M, up 21%.

Revenue & Profitability

Total revenues increased 13% to $247.6 million from $219.6 million. Income from operations rose 36% to $22.9 million. Net income increased 40% to $21.3 million ($0.21 per diluted share). Adjusted EBITDA grew 21% to $32.2 million from $26.6 million. Adjusted net income was $28 million ($0.27 per diluted share) compared to $22.6 million ($0.22) in the prior year.

Outlook

Management noted a dynamic geopolitical environment that may cause cancellations or slower booking for European itineraries, particularly from North American guests. They have included this softness in the full-year guidance. Despite this, they believe cruise lines will fill ships and their focus on the top 11% of guests provides insulation. The company expects 10% growth in total revenues and Adjusted EBITDA for Q2 2026 at the midpoint of guidance.

Growth Drivers

Key growth levers include new ship builds (six in 2026, including Norwegian Luna and Disney Adventure), expansion of higher-value Medi-Spa services (now on 155 ships, targeting 157 by year-end), and the rollout of next-generation technologies such as TruFlex, Thermage, CoolSculpting, and NAD IV therapy. Pre-booked revenues grew 17% and generate 30% more guest spend than onboard bookings. Staff retention improved to 77%, enhancing productivity.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Adjusted EBITDA margin improved to approximately 13.0% in Q1 2026 from 12.1% in Q1 2025. Margin expansion was driven by revenue growth outpacing cost increases. Cost of services increased $20.2 million on $25 million higher service revenue, and administrative expenses rose due to restructuring. The company is implementing AI-driven efficiency initiatives to reduce repetitive work and improve scalability, which should further support margins.

Key Risks

Management cited the geopolitical backdrop as a key risk, potentially leading to cancellations or softer demand for European cruises from North American guests. This has been factored into the full-year guidance. The company also noted that any shift in itineraries (e.g., from Eastern Med to Western Med) does not materially affect earnings quality.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-29

Record Q2 results with 9% revenue and 13% adjusted EBITDA growth, driven by innovation, AI adoption, and strong cruise demand. Full-year guidance raised, with double-digit growth expected and robust liquidity supporting ongoing investment and shareholder returns.

Q1 2026 Q1 2026 2026-04-29

Q1 2026 saw record revenues and Adjusted EBITDA, driven by innovation in Medi-Spa services, strong staff retention, and robust pre-booking growth. Guidance for Q2 and full-year 2026 anticipates continued double-digit growth, with risks from European demand softness factored in.

Q4 2025 Q4 2025 2026-02-18

Record Q4 and fiscal year results were driven by innovation, expansion, and operational efficiency, with double-digit revenue and Adjusted EBITDA growth. Fiscal 2026 guidance projects revenues above $1 billion, with AI and dynamic pricing initiatives expected to further enhance performance later in the year.

Q3 2025 Q3 2025 2025-10-29

Record Q3 results with 7% revenue growth and 13% higher net income, driven by new ship builds, expanded high-value services, and strong guest spend. Raised 2025 guidance and increased dividend by 25%, while advancing AI initiatives and maintaining robust capital returns.

Q2 2025 Q2 2025 2025-07-30

Record Q2 results with 7% revenue growth and 27% net income increase, driven by strong consumer demand, expanded services, and innovation. Raised adjusted EBITDA guidance for 2025, with robust cash flow supporting dividends and potential share repurchases.

📊 Analysis Methodology

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