Business
OneSpaWorld Reports Second Quarter Fiscal 2022 Financial Results
Net Revenues of $127.4 Million Positive Quarterly Cash Flow from Operations of $4.9 Million Ends Quarter with Total Liquidity of $46.9 Million Expects to be
About this update from Onespaworld Holdings Limited
[{"type":"text","content":"\nNet Revenues of $127.4 Million\nPositive Quarterly Cash Flow from Operations of $4.9 Million\nEnds Quarter with Total Liquidity of $46.9 Million\nExpects to be Operating on 173 Cruise Ships by the End of the 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 second quarter and first six months of fiscal 2022, ended June 30, 2022.\n\nLeonard Fluxman, Executive Chairman, Chief Executive Officer and President of OneSpaWorld, commented: \"We delivered an outstanding second quarter, highlighted by significant growth in net revenue and adjusted EBITDA compared to the second quarter last year while generating positive free cash flow. Notably, we generated net revenue of $127 million, over 90% of 2019 second quarter net revenue, the most recent comparable period of normal operations, and was achieved even as ships were still being reintroduced into service and load factors continue to ramp to historical levels. We believe this accomplishment is a strong testament to our unique capabilities to elevate and innovate our product and service levels during an extraordinary time, leading to expansion in our revenue generation capabilities across our health and wellness centers at sea and on land.\n\nThe quarter saw us commence service aboard two new ship builds, and 38 ships returned to service by our cruise line partners. Our strong financial performance was driven by continuing growth and strength across virtually all of our operating metrics, including pre-booking percent of service revenue, average guest spend, average service spend per guest, and service frequency per guest, all higher than the comparable 2019 second quarter.\n\nMr. Fluxman added: “The quarter also marked a key milestone for our Company – the one-year anniversary of our return to service. Over the past 12-months we have trained 1,498 staff, placed 4,352 staff on board cruise ships and booked more than 9,000 flights for personnel as 167 ships returned to service. I am proud of all that we have accomplished over the last year and believe we are well positioned to serve additional cruise ships introduced an...