OneSpaWorld (OSW) Investor presentation summary

Q3 2026 performance and capital allocation

• Q3 revenue rose 7% YoY and Adjusted EBITDA rose 12%, marking a 22nd consecutive record quarter of YoY growth in both metrics.

• Returned $42.3M to shareholders in Q3: $37.2M from repurchasing ~1.4M shares and $5.1M in dividends; repaid $11.3M of the Term Loan Facility.

• Board approved a $0.0625-per-share quarterly dividend, payable Dec. 2, 2026, to shareholders of record Nov. 18, 2026.

Scale and competitive position

• Operated on 207 ships and at 23 resorts as of Sept. 30, 2026; held >90% of the outsourced onboard health and wellness market and was ~17x the next-largest sea competitor.

• 2025 operations covered 1,300 ports and 9,568 voyages; required 6,600 staff placements, 11,571 global staff flights, 6,162 vendor purchase orders and 1,470 ship management visits.

• Long-standing cruise line relationships averaged 20+ years; historical contract renewal rate ~97% and average contract life 5.5 years.

• Revenue-sharing contracts pair an asset-light operating model with cruise-line-funded spa buildouts, while cruise lines provide onboard audiences and market services.

Growth drivers and service expansion

• Six new ships were slated for launch in 2026; multi-year fleet-wide contracts provide access to new ships launched during contract terms.

• Global cruise capacity is projected to grow at a 4.0% CAGR from 29.5M in 2020 to 38.7M in 2027.

• Medi-Spa had rolled out to 153 vessels by Dec. 31; the presentation cites 2008–2025 rollout CAGR of 20% and average spend up to 10x traditional services.

• Growth initiatives include expanding higher-ticket Medi-Spa, IV therapy, Cryo-body and facial services, boosting pre-booking, and improving utilization through technology.

• AI initiatives target revenue enhancement through machine learning, onboard operational efficiency and process automation.