Highlights

  • Third quarter 2026 total revenues were $276.5 million, compared with $258.5 million in the third quarter of 2025.
  • Net income was $28.2 million, or $0.28 per diluted share, and Adjusted EBITDA was $39.2 million.
  • Fiscal 2026 guidance was raised to $1.033 to $1.038 billion in total revenues and $138.0 to $140.0 million in Adjusted EBITDA.
  • The Board approved a new $100 million share repurchase program and increased the quarterly dividend to $0.0625 per share.

OneSpaWorld Holdings Limited (NASDAQ:OSW) shares were trading at USD 27.37 on October 28, 2026, up 9.68%, with a relative volume at time of 2.98. The health and wellness services company's Board approved a new share repurchase program on October 20 and the company reported third quarter fiscal 2026 results and raised guidance on October 28.

OneSpaWorld is incorporated in the Commonwealth of The Bahamas and is headquartered in Nassau, Bahamas. The company provides health, wellness and aesthetic services, products and experiences for guests on board cruise ships and in destination resorts. It reported health and wellness centers on 207 ships and 23 destination resorts at the end of the third quarter of 2026. Its fiscal year ends December 31. Its common shares are listed on the Nasdaq Capital Market.

Third Quarter Results

Total revenues increased 7% to $276.5 million for the quarter ended September 30, 2026, compared with $258.5 million in the third quarter of 2025. Service revenues were $226,378 thousand. The company said average guest spend increased 3.3%, and it cited fleet expansion due to 2026 vessel newbuilds and higher volumes. A $1.4 million decrease in destination resorts total revenues partly offset maritime growth.

Income from operations was $30.0 million, compared with $26.3 million. Net income was $28.2 million, or $0.28 per diluted share, compared with $24.3 million, or $0.23. Adjusted net income, a non-GAAP measure, was $34.8 million, or $0.34 per diluted share, compared with $30.7 million, or $0.30. Adjusted EBITDA, a non-GAAP measure, was $39.2 million, compared with $35.0 million.

Administrative expenses were $7.0 million, compared with $4.6 million, which the company said included $2.1 million in third-party fees tied to the reorganization of operations in the United Kingdom and Italy. For the nine months, total revenues were $785.4 million, compared with $718.9 million, net income was $72.8 million and Adjusted EBITDA was $105.8 million.

Balance Sheet and Capital Return

Cash was $32.1 million and total liquidity was $80.9 million at September 30, 2026. Total debt, net of deferred financing costs, was $70.5 million. In the third quarter, the company returned $42.3 million to shareholders, including $37.2 million for the repurchase of 1,412,574 common shares and $5.1 million through the quarterly dividend, and repaid $11.3 million of its Term Loan Facility.

The company had repurchased the full $75.0 million authorized under its 2025 Share Repurchase Program as of September 30, 2026. On October 20, 2026, the Board approved a new program to repurchase up to $100 million of common shares, which may be suspended, modified or discontinued at any time. The Board also approved a quarterly dividend of $0.0625 per common share payable on December 2, 2026 to shareholders as of the close of business on November 18, 2026.

Operating Network and Developments

The company ended the quarter with 207 ships, compared with 204, and 23 destination resorts, compared with 49. Of the 49 resorts at the end of the prior-year period, 11 were attributable to its Asia resorts business, whose exit was completed after quarter end. Management said it entered new agreements with Azamara Cruises and Silversea Cruises.

Fiscal 2026 Guidance

The company increased fiscal 2026 guidance to total revenues of $1.033 to $1.038 billion and Adjusted EBITDA of $138.0 to $140.0 million. Previous guidance, issued on July 29, 2026, was total revenues of $1.018 to $1.038 billion and Adjusted EBITDA of $130.0 to $140.0 million. For the fourth quarter, the company guided to total revenues of $248 to $253 million and Adjusted EBITDA of $32 to $34 million.