The following is a summary of the OneSpaWorld Holdings Limited (OSW) Q1 2024 Earnings Call Transcript:

Financial Performance:

• OneSpaWorld reported total revenue of $211.2 million in Q1 2024, a 16% increase over the previous year.

• Income from operations increased by 52% to $17 million.

• Adjusted EBITDA increased by 31% to $25.3 million.

• The company also settled a $20 million portion of its first lien term loan, reducing overall debt to $94.1 million.

Business Progress:

• The company expanded operations to 193 ships, compared to 179 in Q1 2023.

• It entered into partnerships with major cruise lines like Royal Caribbean and Celebrity Cruises and plans to add more Medi-spa services across its ships.

• New services and products were introduced, such as cryotherapy body and facial services as well as LightStim therapy.

• The Board approved a $50 million share repurchase authorization.

• There's a planned investment in AI-enabled back-office automation to optimize marketing and operational efficiencies.

• Their year-end target for fiscal 2024 includes operating 198 cruise ships and 51 resorts.

More details: OneSpaWorld IR

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