OneSpaWorld Q3 revenue rises 33% to $216.3 million; raises fiscal 2023 guidance
OneSpaWorld reported third quarter 2023 total revenues of $216.3 million, up 33% from $162.3 million a year earlier, with income from operations of $17.0 million and net income of $23.4 million. The company raised its fiscal 2023 revenue guidance to $792 million to $797 million and its adjusted EBITDA guidance to $86 million to $88 million, which signals improved expectations for shareholders.
- Q3 2023 total revenues $216.3 million, up 33% from $162.3 million; adjusted EBITDA $24.9 million, up 36%
- Q3 net income $23.4 million, or $0.16 per diluted share, versus $5.9 million, or $0.06, a year earlier; the quarter included a $7.4 million gain from warrant liability fair value changes
- Fiscal 2023 revenue guidance raised to $792 million to $797 million from $770 million to $790 million; adjusted EBITDA guidance raised to $86 million to $88 million from $80 million to $86 million
- Quarter-end total liquidity of $48.0 million after repaying $20.0 million on the first lien term loan