OneSpaWorld Holdings Limited reported a significant increase in financial performance for the first quarter of 2026, with total revenues reaching $247.6 million, a 13% rise from $219.6 million in the same period last year. This growth was driven by a 14% increase in service revenues, which amounted to $203.7 million, and a 7% increase in product revenues, totaling $44.0 million. The company attributed this revenue growth to a 4% increase in revenue days, a 2% increase in average guest spending, and the expansion of health and wellness centers due to new ship builds.
In terms of profitability, OneSpaWorld reported a net income of $21.3 million for the quarter, a 40% increase compared to $15.3 million in the prior year. This improvement was primarily due to a $6.0 million increase in operating income. The company’s income before income tax expense also rose to $21.7 million, up from $15.7 million in the previous year. Basic and diluted earnings per share increased to $0.21, compared to $0.15 in the first quarter of 2025.
Operationally, OneSpaWorld saw a slight decrease in its average resort count, which fell from 49 to 37, while the average ship count increased from 193 to 202. The company reported an increase in average weekly revenue per ship to $91,872, up from $84,177, and an increase in average revenue per shipboard staff per day to $597, compared to $562 in the previous year. The total number of revenue days also increased to 18,175 from 17,401, indicating higher engagement levels across its health and wellness centers.
The company’s balance sheet showed total assets of $709.9 million as of March 31, 2026, a slight increase from $707.1 million at the end of 2025. Total liabilities decreased significantly to $148.1 million from $164.5 million, primarily due to a reduction in accounts payable and accrued expenses. Shareholders' equity increased to $561.8 million, up from $542.6 million, reflecting the positive net income and stock-based compensation activities during the quarter.
Looking ahead, OneSpaWorld remains optimistic about its growth trajectory, citing ongoing investments in technology and infrastructure to enhance operational efficiency and service offerings. The company plans to continue expanding its health and wellness centers on cruise ships and at destination resorts, leveraging its established relationships with cruise line partners to drive revenue growth. The management believes that the combination of increased guest spending, operational improvements, and strategic expansions will support sustained financial performance in the coming quarters.
About ONESPAWORLD HOLDINGS Ltd
OneSpaWorld Holdings Limited is a global provider of health, fitness, beauty, and wellness services primarily onboard cruise ships and at destination resorts. It offers comprehensive treatments, advanced medi-spa services, and retail products, serving over 26 million guests annually. The company operates through long-term, asset-light agreements with major cruise lines and resorts, leveraging extensive infrastructure, industry expertise, and exclusive brand partnerships to deliver premium guest experiences.
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