OneSpaWorld (OSW) investor relations material

Executive summary

• Achieved 21st consecutive quarter of record total revenues and adjusted EBITDA, with Q2 2026 revenues of $261.2 million and net income of $23.2 million, up 9% and 16% year-over-year, respectively.

• Adjusted EBITDA reached $34.4 million, up 13% year-over-year, driven by innovation, global platform expansion, and high staff retention.

• Continued expansion of health and wellness centers, including new launches, AI-driven strategies, and robust global infrastructure.

• Asset-light business model supports strong free cash flow, dividend payments, and debt reduction.

Financial highlights

• Q2 2026 total revenues increased 9% year-over-year to $261.2 million; adjusted EBITDA rose 13% to $34.4 million; net income was $23.2 million ($0.23 per diluted share), up from $19.9 million ($0.19 per share) last year.

• Adjusted net income reached $29.8 million ($0.29 per share), up from $25.8 million ($0.25 per share) in Q2 2025.

• For the first six months of 2026, total revenues rose 11% to $508.9 million and net income increased 27% to $44.5 million.

• Pre-booked revenue grew 14% and forward bookings are up 20% year-over-year.

• Service revenues grew 11% to $214.4 million; product revenues declined 1% to $46.8 million.

Outlook and guidance

• Raised FY 2026 guidance: total revenue $1.018–$1.038 billion, adjusted EBITDA $130–$140 million, both up 10% at midpoint from 2025 (excluding exited/reorganized operations).

• Q3 2026 guidance: total revenue $268–$273 million, adjusted EBITDA $35–$37 million.

• Growth expected from fleet expansion, increased guest spend, higher pre-booked services, and six new ship builds in 2026.

• Guidance incorporates seasonality, regional mix, and ongoing innovation.