Business
OneSpaWorld Reports Third Quarter Fiscal 2022 Financial Results
Quarterly Net Revenues of $162.3 Million Highest in Company History Positive Quarterly Cash Flow from Operations of $12.5 Million and Adjusted EBITDA of
About this update from Onespaworld Holdings Limited
[{"type":"text","content":"\nQuarterly Net Revenues of $162.3 Million Highest in Company History\n\nPositive Quarterly Cash Flow from Operations of $12.5 Million and Adjusted EBITDA of $18.3 Million\n\nEnds Quarter with Total Liquidity of $57.1 Million\n\nExpects to be Operating on 179 Cruise Ships by Year-End\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 the third quarter and first nine months of fiscal 2022, ended September 30, 2022.\n\nLeonard Fluxman, Executive Chairman, Chief Executive Officer and President of OneSpaWorld, commented: “I am very pleased to report that our strong post-pandemic momentum continued throughout the third quarter highlighted by record net revenues, twelve percent above third quarter 2019, and positive net income and positive cash flow, all despite passenger load levels below historical levels and ships still returning to service. I am proud of our team’s hard work and dedication since returning to service, including our outstanding innovation and implementation of enhanced service and product offerings and operating capabilities. This drove high sales productivity from growing strength across virtually all of our key operating metrics, including pre-booking percent of service revenue, average guest spend and service frequency per guest. Our third quarter results, coming out of an unprecedented adverse impact on our business during the pandemic period, attest to our Company’s unique positioning as the preeminent operator of health and wellness centers at sea and on land to drive extraordinary value for our cruise line and resort partners, sustained long-term profitable growth and increasing value for OneSpaWorld stakeholders,” concluded, Mr. Fluxman.\n\nStephen Lazarus, Chief Financial Officer and Chief Operating Officer of OneSpaWorld, commented, “I am delighted with our third quarter performance, which drove positive free cash flow generation for the second consecutive quarter since the onset of the pandemic. We ended the quarter in a strong financial position with total liquidity of $57.1 million, including $37.1 million in cash and the full $20.0 million available unde...