OneSpaWorld Holdings Limited (NASDAQ:OSW) Q1 2024 Earnings Call Transcript May 1, 2024

OneSpaWorld Holdings Limited isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good day, and welcome to the OneSpaWorld First Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded. And now I would like to turn the conference over to Allison Malkin for some introduction. Please go ahead, Allison.

Allison Malkin: Thank you. Good morning, and welcome to OneSpaWorld's first quarter 2024 earnings call and webcast. Before we begin, I'd like to remind you that certain statements and information made available on today's call and webcast may be deemed to constitute forward-looking statements. These forward-looking statements reflect our judgment and analysis only as of today, and actual results may differ materially from current expectations based on a number of factors affecting our business. Accordingly, you should not place undue reliance on these forward-looking statements. For a more thorough discussion of the risks and uncertainties associated with the forward-looking statements to be made in this conference call and webcast, we refer you to the disclaimer regarding forward-looking statements that is included in our first quarter 2024 earnings release, which was furnished to the SEC today on Form 8-K.

We do not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, the company may refer to certain adjusted non-GAAP metrics on this call. An explanation of these metrics can be found in our earnings release issued earlier this morning. Joining me today are Leonard Fluxman, Executive Chairman, Chief Executive Officer and President; and Stephen Lazarus, Chief Financial Officer and Chief Operating Officer. Leonard will begin with a review of our first quarter 2024 performance and provide an update on our key priorities. Then Stephen will provide more details on the financials and our guidance. I would now like to turn the call over to Leonard.

Leonard Fluxman: Thank you, Allison. Good morning, and welcome to OneSpaWorld's first quarter 2021 results conference call. I'm very pleased to report another strong start to the year with our first quarter generating record results. We delivered robust double-digit growth in total revenue, income from operations and adjusted EBITDA, all of which were at record setting levels. We also achieved significant accomplishments towards our strategic priorities, which provide for our ongoing growth in the current year and well into the future. In fact, the ongoing strong momentum of our business from fiscal 2023 into early 2024 resulted in the best first quarter in history of our company. The resounding success across all fronts is a testament to the superior execution of our strategy by our exceptionally talented team.

Their relentless dedication to innovation, enhancement of partnerships, leveraging of our category dominance and adept navigation of our intricate business model have yielded extraordinary guest experience and outstanding service to our esteemed cruise line and destination resort partners that is translating into increased value to our shareholders. As we look ahead, the second quarter is off to a positive start, and we expect the continued superior execution of our strategy, combined with our ongoing ability to provide extraordinary service levels to our cruise and resort partners through a differentiated luxury experience for guests, and will position the company for continued success. Based on the continued strong execution by talented team, new partnerships and new initiatives, which continue to drive organic growth, we have raised our annual outlook beyond the outperformance achieved in the first quarter.

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