Following the dissemination of its financial outcomes for the Q1 2024, the shares of OneSpaWorld Holdings Limited (NASDAQ: OSW) are currently experiencing a noticeable ascent on the US stock charts. OneSpaWorld shares have surged by 13.92% to attain a value of $14.49 in the current trading session, as of the last check.
OneSpaWorld's aggregate revenues escalated by 16% to achieve a figure of $211.2 million, while its operational income surged by 52% to reach $17.0 million. The organization also reported a notable upsurge in Adjusted EBITDA, marking a 31% increase to $25.3 million, alongside a $6.2 million augmentation in unlevered after-tax free cash flow, amounting to $24.1 million.
The robust momentum OneSpaWorld sustained from the fiscal year 2023 has seamlessly transitioned into the current period, with the initial quarter's results surpassing its earlier projections. The company has further heightened its annual outlook beyond the exemplary performance witnessed in the first quarter, attributing this success to the steadfast execution by its adept team, forging of new partnerships, and implementation of fresh initiatives that continue to propel organic growth.
The first quarter of operations saw the attainment of numerous significant milestones, as evidenced by OneSpaWorld's commendable advancement in key maritime operational metrics, registering double-digit growth rates. This growth was underpinned by an ongoing pipeline of strategic endeavors aimed at augmenting pre-booking figures.
Noteworthy achievements also encompass enhancements in the frequency of treatments per clientele and the augmentation in the number of passengers availing spa services. Furthermore, OneSpaWorld has inked a novel exclusive agreement with Royal Caribbean Cruises and Celebrity Cruises, encompassing their existing fleet of 40 vessels in operation and all forthcoming ships scheduled for deployment during the agreement's tenure.
In light of its robust performance, OneSpaWorld has revised its guidance for fiscal year 2024, now anticipating a 10% increase in revenues and a 12% surge in adjusted EBITDA, with the midpoint of the guidance range surpassing the actual results from fiscal 2023.