OneSpaWorld Holdings Limited reported first‑quarter 2026 revenue of $247.63 million, up 13% year‑over‑year, and net income of $21.3 million, a 40% increase from the same period last year. Adjusted earnings per share rose to $0.27, beating the consensus estimate of $0.26 by $0.01 and representing a 22.7% increase over the prior quarter’s $0.22 EPS.
The company’s maritime wellness segment, which generated 96.4% of total revenue in 2025, continued to dominate the results. Revenue days increased by 2%, and pre‑booking revenue earned a 30% premium, reflecting strong demand for high‑margin medi‑spa services. OneSpaWorld operated health and wellness centers on 208 cruise ships at quarter‑end, up from an average of 202 ships in the prior year and 206 in the current quarter.
Full‑year 2026 revenue guidance was raised to $1.014 billion–$1.034 billion, an upward revision from the previous $1.010 billion–$1.030 billion range. Guidance for Q2 2026 sales remains unchanged at $257 million–$262 million. Management highlighted the expected impact of AI‑driven pricing initiatives, which are slated to deliver additional margin upside from Q2 onward, and the expansion of medi‑spa services to six new ship builds during the year.
Share repurchase activity in 2025 totaled $75.4 million, and a new $75 million program was announced earlier in the year. As of March 31, 2026, $37.5 million remained on the program, with no shares repurchased in the first quarter of 2026.
"We began the year with continuing strong momentum through the first quarter, reporting better‑than‑expected top and bottom‑line results," said Leonard Fluxman, Executive Chairman and Chief Executive Officer. "The first quarter marked our 20th consecutive quarter of record Total revenues and Adjusted EBITDA, evidencing the strength of our global operations and the disciplined execution of our strategy by our outstanding team. Our highly trained and motivated staff delivered exceptional experiences for our health and wellness center guests, driven by ongoing innovation in our service and product offerings." "As we look ahead, our visible growth opportunities and favorable positioning give us confidence in our ability to continue our strong performance in 2026 and beyond. In 2026, we expect to further strengthen our market leadership onboard our existing fleet while initiating health and wellness center operations on six new ship builds during the year. Overall, we remain confident that 2026 will reflect another record year for OneSpaWorld and continued value creation for our shareholders and partners," added Fluxman. "During the first quarter, we continued to leverage our asset‑light business model, utilizing $5.1 million of our capital to support growth," added Stephen Lazarus, President, Chief Financial Officer and Chief Operating Officer. "For the full year 2026, we now expect total revenue in the range of $1.014 billion to $1.034 billion and adjusted EBITDA in the range of $129 million to $139 million. This guidance reflects our confidence in our ability to deliver sustained momentum while acknowledging the dynamic environment we find ourselves in."
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