Business
OneSpaWorld Reports Fourth Quarter Fiscal 2021 Financial Results
Both Fourth Quarter Revenue and Cash Burn Rate Reported at the Better End of the Range Provided on January 10, 2022 Return to Positive Cash Flow from
About this update from Onespaworld Holdings Limited
[{"type":"text","content":"\nBoth Fourth Quarter Revenue and Cash Burn Rate Reported at the Better End of the Range Provided on January 10, 2022\n\nReturn to Positive Cash Flow from Operations in December; Ends Fiscal 2021 with Liquidity of $46 Million\n\nExpects Sailing to Resume on 100% of Contracted Ships by End of Third Quarter\n\n NASSAU, Bahamas--(BUSINESS WIRE)--\nOneSpaWorld Holdings Limited (NASDAQ: OSW) (“OneSpaWorld,” or the “Company”), the pre-eminent global provider of health and wellness services and products on-board cruise ships and in destination resorts around the world, today announced its financial results for its fourth quarter and fiscal year ended December 31, 2021.\n\nLeonard Fluxman, Executive Chairman and Chief Executive Officer of OneSpaWorld, commented: “The Company had a very strong finish to the year, reporting fourth quarter revenue nearly double third quarter 2021, with significant growth year-over-year and positive adjusted EBITDA for the first quarterly period since the onset of the COVID-19 pandemic. Key operating metrics compared very favorably with the fourth quarter of 2019 performance, the most recent comparable period of normalized operations. We attribute our strong performance to our team’s support of our staff, and their commitment to flawless operations and valuable innovations throughout the COVID-19 pandemic to enhance our business model and our cruise line and destination resort partnerships. We have executed a very successful return to service in the face of extraordinary challenges and furthered our market leadership in the operation of health and wellness centers at sea and at destination resort spas on land. As we look ahead, we will continue to invest in our exemplary staff, constantly innovate our guest experience and services and product offerings and leverage our irreplaceable global operating infrastructure to further enhance our preeminent position.”\n\nMr. Fluxman added, “Our return to service protocols and readiness, and our team’s flawless operating execution, were further tested with the unanticipated emergence the Omicron COVID-19 variant in December and its adverse impact on scheduled voyages, passenger counts and our staff capacity. As a result, our positive performance trends moderated at the end of the fourth quarter of 2021 into the first quarter of 2022. However, our positive performance ...