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.
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