ONESPAWORLD HOLDINGS Ltd (OSW) FY2025 10-K Annual Report
ONESPAWORLD HOLDINGS Ltd (OSW) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 23, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
ONESPAWORLD HOLDINGS Ltd FY2025 10-K Analysis
Business Overview
- • Core business: Market-leading global outsourced maritime health, wellness, aesthetics, and fitness services provider with over 90% market share
- • New emphasis: Expansion of medi-spa offerings to 157 ships by end of 2026, with medi-spa guests spending up to 4x more than traditional services
- • Strategic shift: Deployment of AI and advanced technology for dynamic pricing, pre-booking, and personalized marketing to enhance revenue and guest experience
- • Quantitative highlight: Operated 206 centers serving 28 million guests, employing 6,600 staff across 88 nationalities, with 97% contract renewal rate over past 15 years
- • Noteworthy fact: Achieved revenue $961 million, net income $71.6 million, adjusted EBITDA $123.3 million in 2025, while benefiting from a low 6% effective cash tax rate
Management Discussion & Analysis
- • Revenue $961.0M in 2025, up 7% YoY from $895.0M in 2024; Service revenues $777.3M (+7%), Product revenues $183.7M (+7%)
- • Operating margin 8.5% in 2025 vs 8.7% in 2024; Income from operations $81.6M in 2025 vs $78.1M in 2024; net income $71.6M vs $72.9M
- • Best performing segment: Maritime (cruise ship operations) drove revenue growth; Worst performing: Destination resorts revenue down $4.8M, partly due to hotel closures
- • Interest expense decreased 42% to $5.7M in 2025 from $10.0M in 2024; $15M debt repaid since 2024; Restructuring expenses $2.7M; Capex details not disclosed
- • Management notes fleet expansion, higher guest spend, and increased pre-bookings as revenue drivers; risks include weather impact and operational reorganizations
ONESPAWORLD HOLDINGS Ltd FY2025 Key Financial MetricsXBRL
Revenue
$961M
▲ +7.4% YoY
Net Income
$72M
▼ -1.7% YoY
Operating Margin
8.5%
▼ -23bp YoY
Net Margin
7.5%
▼ -69bp YoY
ROE
13.2%
▲ +6bp YoY
Total Assets
$707M
▼ -5.3% YoY
EPS (Diluted)
$0.69
▼ 0.0% YoY
Operating Cash Flow
$84M
▲ +6.0% YoY
Source: XBRL data from ONESPAWORLD HOLDINGS Ltd FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on ONESPAWORLD HOLDINGS Ltd
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.