Highlights

  • Total revenues were $261.2 million for the three months ended June 30, 2026, against $240.7 million a year earlier.
  • Net income was $23,215 thousand, or $0.23 per diluted share, against $19,940 thousand, or $0.19, a year earlier.
  • The company operated on 208 ships at period end, compared with 200, while destination resorts revenues decreased $1.3 million.
  • Management raised 2026 adjusted EBITDA guidance to a range of $130 million to $140 million and introduced third quarter guidance.

OneSpaWorld Holdings Limited (NASDAQ: OSW) shares were trading at USD 25.29 on October 27, 2026, up 5.40%, with a relative volume at time of 3.16. The health and wellness operator declared a quarterly dividend on July 29, 2026, filed its Form 10-Q for the quarter ended June 30, 2026 on July 30, 2026, and raised its full year 2026 guidance on an August 7, 2026 earnings call.

OneSpaWorld is organized in the Commonwealth of The Bahamas and lists its principal executive offices in Nassau, Island of New Providence. The company operates health and wellness centers onboard cruise ships and at destination resorts worldwide. It offers health, wellness, aesthetics and fitness services and products. A large portion of its revenues comes from cruise ship operations. It operated health and wellness centers on 208 ships at June 30, 2026. Its fiscal year ends December 31. The 10-Q does not disclose a headcount.

Second Quarter Results

Total revenues were $261.2 million for the three months ended June 30, 2026, up 9% from $240.7 million for the second quarter of 2025. Service revenues were $214,411 thousand and product revenues were $46,835 thousand. The company said the increase reflected a 4% increase in revenue days, health and wellness center expansion from 2026 new ship builds and a 1.2% increase in average guest spend.

The company said growth in Maritime total revenues was offset by a $1.3 million decrease in destination resorts total revenues, partly tied to hotel closures. It also reported lower product revenues, which it linked to the reorganization of operations in the United Kingdom and Italy.

Income from operations was $24,510 thousand, compared with $22,127 thousand. Net income was $23,215 thousand, or $0.23 per diluted share, compared with $19,940 thousand, or $0.19 per diluted share. Average ship count was 202, compared with 191, and period end ship count was 208, compared with 200.

For the six months ended June 30, 2026, total revenues were $508.9 million, compared with $460.4 million, and net income was $44,545 thousand, compared with $35,211 thousand.

Balance Sheet, Cash Flow and Capital

At June 30, 2026, cash and cash equivalents were $40,360 thousand, compared with $16,306 thousand at December 31, 2025. The term loan facility balance was $82,494 thousand, compared with $85,000 thousand, at an interest rate of 5.6%.

Net cash provided by operating activities for the six months was $42,386 thousand, compared with $30,401 thousand. Repurchases of common shares were $379 thousand, compared with $37,901 thousand a year earlier. The company made a $2.5 million principal payment on the term loan and paid $10.2 million in dividends.

The board declared a quarterly dividend of $0.05 per common share on April 29, 2026, totaling $5.1 million, which was paid on June 3, 2026. On July 29, 2026, the board approved another quarterly dividend of $0.05 per share, payable September 2, 2026. Management concluded that existing cash, available credit facilities and operating cash flow should satisfy capital requirements over the next twelve months and for the foreseeable future beyond that period.

Guidance and Outlook

On the August 7, 2026 call, management said it is increasing full year 2026 total revenue guidance to a range of $1.018 billion to $1.038 billion and adjusted EBITDA guidance to a range of $130 million to $140 million. It said fiscal 2025 reported total revenue included $23 million associated with the reorganization of operations in the United Kingdom and Italy and the exit of land-based operations in Asia.

For the third quarter of 2026, management introduced guidance for total revenue of $268 million to $273 million and adjusted EBITDA of $35 million to $37 million. Management said it expects medi-spa offerings on 159 ships by year-end 2026, compared with 156 ships at the end of the second quarter. These are management expectations and are subject to change.