The raised FY guidance and 21st consecutive quarter of record results reinforce the growth trajectory. Traders should watch for continued execution on AI-driven revenue initiatives and new ship builds, which are key to sustaining the 10%+ revenue growth rate. The strong balance sheet with $91.6M liquidity provides flexibility for further debt reduction or share repurchases.
Price Chart
Executive Summary
OneSpaWorld reported Q2 2026 results with record total revenue of $261.2M (+9% YoY) and record Adjusted EBITDA of $34.4M (+13% YoY), both exceeding the prior guidance ranges. The company raised its full-year 2026 guidance for both revenue and Adjusted EBITDA, marking the 21st consecutive quarter of record performance. The beat was driven by a 4% increase in revenue days, fleet expansion, and higher average guest spend, with early AI-driven initiatives contributing to operational gains.
Key Financial Metrics
Key Facts
- Q2 2026 total revenue of $261.2M, up 9% YoY from $240.7M
- Net income of $23.2M, up 16% YoY from $19.9M
- Adjusted EBITDA of $34.4M, up 13% YoY from $30.5M
- GAAP EPS of $0.23, up from $0.19 YoY; Adjusted EPS of $0.29 vs consensus $0.28 (3.6% beat)
- FY 2026 guidance raised: revenue to $1.018-1.038B (from $1.014-1.034B) and Adjusted EBITDA to $130-140M (from $129-139M)
- Q3 2026 guidance: revenue $268-273M, Adjusted EBITDA $35-37M
- Quarterly dividend maintained at $0.05 per share
- Cash of $41.6M and total liquidity of $91.6M at quarter end
- Average weekly revenue per ship increased to $96,614 from $92,936 YoY
- Share repurchases of 16,134 shares for $0.4M during the quarter
Financial Impact
Record Q2 revenue of $261.2M and Adjusted EBITDA of $34.4M; FY guidance raised by ~$4M at midpoint for revenue and ~$1M for Adjusted EBITDA
Risk Factors
- Continued exit from Asian resort operations reduces resort count from 51 to 25 YoY, creating a headwind to land-based revenue
- Administrative expenses rose 63% YoY due to third-party management fees from restructuring
- Product revenue declined 1% YoY, partially offsetting service revenue growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-322112 |
| Document: 0001193125-26-322112-index-headers.html | 0001193125-26-322112 |
| Document: 0001193125-26-322112-index.html | 0001193125-26-322112 |
| Document: 0001193125-26-322112.txt | 0001193125-26-322112 |
| 8-K Data (Synthetic) | 0001193125-26-322112 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 19, 2026 9w ago | 144 | $26.39 | awaiting T+60 | — | $25.13 (−4.77%) |
Aug 7, 2026 11w ago | 144 | $25.80 | awaiting T+60 | — | $25.13 (−2.60%) |
Jul 29, 2026 12w ago | 8-K | $25.97 $24.29 | ▼ −6.47% | ▼ −11.20% | $25.13 (−3.23%) |
Jun 17, 2026 18w ago | Insider Cluster | $27.53 $22.06 | ▼ −19.87% | ▼ −21.76% | $25.13 (−8.72%) |
Jun 15, 2026 19w ago | 144 | $26.36 $21.92 | ▼ −16.84% | ▼ −17.84% | $25.13 (−4.67%) |
Apr 24, 2026 26w ago | DEFA14A | $23.84 $25.96 | ▲ +8.89% | ▲ +4.12% | $25.13 (+5.41%) |
US Market Status
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