OSW - Earnings call 4 2023 | OneSpaWorld Holdings Limited

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Operator

Good morning, and welcome to the OneSpaWorld Fourth Quarter 2023 Earnings Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Allison Malkin, Investor Relations at ICR. Please go ahead.

Allison Malkin

Thank you. to and Quarter Webcast. welcome XXXX Fiscal and Call Earnings morning, OneSpaWorld's and Fourth Year Good

our today's of may Before differ results you statements. analysis and based on only that expectations begin, These materially certain and factors we I'd our a business. today, on statements from information like forward-looking statements as made current judgment constitute of deemed may to be to affecting reflect remind call number forward-looking webcast and available actual and

Accordingly, should reliance these you place not on forward-looking undue statements.

fourth For and refer a was which this forward-looking be the included disclaimer X-K. more the quarter conference to thorough on discussion furnished Form our statements to in you uncertainties statements today XXXX of risks forward-looking earnings made we the associated is regarding with release, webcast, SEC the call and that to in

obligation any as events or undertake a not of any whether or new result do to information, future forward-looking statements, update We otherwise. alter

certain on earlier this company can our issued may release In of An earnings be found non-GAAP metrics this adjusted refer morning. addition, these explanation call. in the to metrics

Joining guidance. our provide and an to now and would Lazarus, over will with the our details year more Financial begin the year me Chief and Executive I Stephen Fluxman, key turn update Then on will XXXX Officer on Leonard and fiscal provide Operating XXXX fourth of priorities Stephen as like XXXX. quarter Chief we Leonard. call financials to Officer. and a Chief performance and Officer review today begin are Executive Leonard President; Chairman, fiscal fiscal

Leonard Fluxman

XXXX Quarter morning, OneSpaWorld's Results Good to Conference Allison. Fourth you, and Full Thank welcome Year Fiscal Call. and

our continue impact of outstanding an financial and company for operating scale complex strategies, innovation increasingly of powerful business. concluded across the our demonstrate and quarter fourth to performances our year The and

marked period XXXX. The year in ever each across record quarter, pace quarter. the The our which resulting operations highlighted in EBITDA, prior versus by revenue, our fourth a of fiscal adjusted was at fourth records also consecutive from and income grew best double-digit quarter performance

enhance value to our business Our delivery constantly outstanding guests. and and continues destination industry-leading passengers our innovating to of model, their team our experiences cruise and partners to resort line our unique

new and utilizing continue cash in services, our to and to facilities business enhanced while introduce further our flow product and vet powerful strong model. We invest

of We with value begin our and fiscal XXXX and momentum to record increasing year another expect deliver shareholders. performance strong to

line confidence Our further trends industry buoyed banners. is in cruise our by top favorable the across

continued positive our the first in in quarter fact, momentum our In has guidance. as reflected

fourth quarter the impairment rose million, the for revenue $XXX.X in $XX.X $XX.X increasing fourth of $XX.X million of EBITDA million the as XX% $XXX.X in to $XX.X $X.X a expected the even from XXXX. our to million from health compared asset to operations of the charge XXXX. and adjusted highlights Total quarter. from quarter performance increased was million million on million XX% And of incurred center XX% XXXX. closure wellness of in Touching fourth of EBITDA we quarter fourth Income adjusted

record $XXX a compared fiscal XXXX. in impairment from a million to charge Adjusted compared year, million million Income to year record XXXX. $XX.X $XX.X total as million fiscal fiscal in compared increased to asset million year $X.X to million million XXX% $XX XXXX. revenue $XX.X including the $XX.X full year record to increased increased the XX% EBITDA $XXX.X the For to -- or XX% a revenue million operations in

'XX in unlevered fiscal free XX% year And $XX.X with $XX.X conversion cash XX%. of to from increased million flow after-tax rate cash reported flow free after-tax million

the the At vessels, on third at cruise of we ship end year-end, and X,XXX focused the XXXX, ship personnel fourth operations We vessels supporting continue to on X,XXX personnel XXXX cruise and respectively. remain quarter our highly from of Sea. on increasing X,XXX quarter had of at

Our ongoing onboard initiative additional retain success. for exhibiting staff is contracts to

to our in operating first contributed the expect experienced to XXXX in to growth quarter XXXX certain of of level members proportion XXXX. as experienced growth continue double-digit across the fiscal of staff the XXXX. delivery metrics compared experienced key surpass staff The to We in and of staff members year

Along the strong our results, financial key progress noteworthy year with priorities. the included towards

new we launched partners. and Crystal health current agreements growth we their XXXX, and Adora with Cruises. Cruises entered highly captured builds In line as ships existing we First, XX XXXX, partners. expect visible and cruise new by partners new centers new current ship wellness In we added into X ship with

services value launch higher Second, continue we and products. to

exciting We focus implementation, devices. including immunity are of protocols therapy and IV services, products in facial-toning which and introducing on continue to various stages and

first we Biotec During part services quarter, cryo cryo the begun Elemis quarter body the LED new -- offering. of rollout facial introducing X.X the as the as have of new well during and as the services last

and Third, as in wellness of we growth revenue higher per products, services average prebooking XXXX. to a focused driving including as compared productivity staff performance metrics, enhancing on double-digit percentage health revenue and spend introduce guest day, as key per value center service we and

spend is As operate to average available centers, XX% guests on XX% vessels the saw guests do and than grow and XX% we mentioned of this have expected that previously, XXXX. not health on prebook. to year that prebooking that approximately prebook services in The more wellness

year-over-year products. percentage Average length architecture in services of pricing grew guests in a services, XX% service of the service also in increases frequency from which by service in spend revenue towards guest Initially, XX% refinements certain of from higher-priced and XX% prebooked and and to benefited resulted XXXX, XXXX. mix in

offering. We medi-spa XXXX. ships. to offering XXX And also ships in expand our medi-spa year-end, XXX ships to XXX At in XXXX, up services on from our expect we we had medi-spa increased

cruise Fourth, we market expanded our adding new by share line partners.

have as with health to share market XXXX by market, Adora believe We wellness and the Cruises. outsourced in Crystal continue our Maritime grow contract percent we XX-plus and our evidenced to wins Cruises

structure in our cash strengthened structure fiscal lien our term warrant repurchase durable $XX we common balance loan our million debt of second already loan and million the on XXXX, our positive outstanding our of generating term fully while repaid exchange end, XXX,XXX shares our and To to simplified enhanced through reduced the $X completion First, capital and We cash this in sheet stock. invested lien capital a we first flow. by million.

the For total year, million repurchase for debt we invested a fiscal and share ended $XX.X liquidity of and of with paydown still total $XX.X million. activity XXXX

and the March our further outstanding combination, capital on addition, warrants are were simplify XXXX, XX, of which set In to as that the will issued related expire, structure. million XX, December to X.X approximately business

position, like momentum the entire their your term. the and over dedication turn I we to our ongoing and to near long I increased organization our the Combined, positive of for and serve. OneSpaWorld to for thank at call Before in to have personally business strength our the continued strategy advancing would have continued guests contribute leadership us contributions Stephen, the poised

that, to results the call guidance. I With quarter will Stephen? Stephen, turn fiscal comment year will who XXXX over fourth on and and our

Stephen Lazarus

Good morning, everybody. you. Thank

cruise mentioned, in we as impressive throughout East ship, was turmoil unscheduled year. performance dry a dock our large were Leonard revenue record our of navigated to we pleased with extremely our the which impacted deliver Middle results. As quarter and the an ability fourth Even more

items X impacted begin by our results. like quarter fourth that unusual highlighting would to I

of this or related financials the This to First, hotel location income a and destination our planned and adjusted resorts charge demolition the GAAP impairment expected a year. from closure asset excluded the fourth that is given include charge quarter $X.X adjusted of year. net EBITDA million for fiscal

facility adjusted per due fiscal the share agreement or our for and $X.XX GAAP is and impact financials lower EPS a included onetime include ratio our income deleveraging year-end. the and adjusted that million fee $X.X secondly, net quarter And lean negatively under leverage was at fourth term debt required net year. and first payment That to

will onboard ship was increase we current quarter compared our XXX with on wellness share The count wellness X% operating in XXXX. ship of detail ships increasing onboard XXXX. I quarter, quarter quarter that the and during of increasing fourth attributable health the $XXX.X $XXX.X the health XX% in to results count Total year during average and our XXX reported compared the was average year our operating fourth to fiscal quarter, centers now centers ships million revenue to million of earlier. more and fourth

Additionally, was of and the attributable innovations our the in our primarily teams. of $XXX.X the enhanced to product of health onboard attributable of fourth through $XXX million centers quarter Cost was quarter offering costs the increase each costs compared compared million wellness on increase increased and with Cost service the of execution $XX of revenue and primarily of from to wellness $XXX.X to land with and with associated revenue quarter to compared increased associated initiatives the the in service and million compared product of complex guest million revenues growth in in drive our of engagement $XX.X of at XXXX. quarter centers quarter of disciplined million operating product onboard fourth of service and service was with revenues The our sea to revenue fourth fourth health XXXX. by corporate million in our and experiences, to $XXX.X million million protocols in quarter the XXXX. fourth XXXX, products $XX.X $XX.X operating the in

the warrant loss attributable change loss loss fair per per of a or share was loss $X.XX of million million as million $X.XX in to, the $X diluted a value of XXXX. net in compared loss our share million $X fourth firstly, quarter was The increase of net $X.X or net net to of diluted Net liabilities. $X.X in negative

asset in impairment. $X.X I offset to the thirdly, at loan positive Secondly, lenders lower that payable which long-lived to onetime first expense, by from $X debt [indiscernible] a a million million ratio million due income decrease term million $X.X long-lived lien interest asset leverage the to And charge, net our in change by $X.X year-end. referenced deleveraging required facility the operations under our fee earlier, impairment prior

$XX.X of loss value change liabilities in in X warrant the the $X.X months of to prices observable and the and market of XX of deriving XXXX. you inputs value other value our these instruments. December that was was know, result X of The As in during a changes financial stock million the loss a of fair compared ended the warrants during change common of the months million fair the

$X.XX, adjusted of million to $X or a net $X.XX XXXX. million share million onetime per or diluted quarter including $XX.X of adjusted $X.X income deleveraging as the in adjusted was fourth $XX.X income net diluted fee share of of million of Adjusted per income net impact negative net compared or the

million to mentioned, of for million $XXX million, revenue, the increase Adjusted in fiscal million $XX.X compared total an the compared EBITDA then as to quarter $XX.X per And fourth of increased to adjusted prior XX% to $XXX the deleveraging XXXX. per of EBITDA briefly $XX.X net year, including $X.X XX% $X.XX, or negative fee. income year of more doubled adjusted that for net million onetime adjusted or income million share ended, than $X diluted share

to compares compared ended in adjusted income increased $XX.X $XX.X $X.XX XX% million income or an net XXXX. December the adjusted net million to per $XX.X year adjusted year ended diluted And XX, impressive XXXX. the of December share in EBITDA This million of to XX,

with As total December it at Since credit XXXX, capacity $XX.X expense. year-end importantly, of payments cash compares quarter favorably We balance term to leverage X.XXx borrowing second at million instruments, the the the we financing interest a lien debt of In the million. X.XXx. XXXX the ongoing of and a $XX net sheet, first ratio debt leverage of $XXX.X total on year loan, to repaid our of under million repaid of its quarter, very to bringing total $X have year and of million. in $XX.X ended deferred XX the ratio debt relates million company totaled which for fourth company's line the debt costs year-end, reducing

balance of deleveraging, interest sheet substantially result have our future reduced a expense. we our strengthened As and

year. XX% after-tax In the compared flow cash quarter fiscal to prior free increased was million year. after-tax unlevered year, fourth $XX.X in cash to $XX.X $XX.X to million flow prior quarter, free And the million unlevered of million in compared the the $XX fourth for

to cash throughout year and flow of in quarter company The generate positive XXXX the first continue from to expects operations XXXX. fiscal

Moving then on guidance. to

million For expect $XX.X we and in $XXX the the million. range to first of total quarter $XXX of to in adjusted $XX.X the revenue million range EBITDA XXXX, of million

ships operate on quarter XXX guidance at and operating Our XX to first cruise resorts. assumes

adjusted to we to million For revenue the of $XXX the year, million $XXX continue fiscal and in to XXXX of the expect million. full range range million in total $XXX EBITDA $XX

expect ships We end XXXX XXX to resorts. fiscal XX and on cruise operating at

XXXX. Overall, as about feel business we confident very outlook we our begin

to strategy and value shareholders. another performance deliver expect strong, of and implementation for remains ongoing of Our momentum business the we year our all of increasing our record

questions. we Operator, up the open ahead. to call please go that, will With

Operator

William from question Zackfia Instructions] Blair. with [Operator first Sharon comes The

Sharon Zackfia

and I dry of that 'XX, you on 'XX your in know that's revenue year. unusual about question whether guess cruise an docks more I of that and guidance. a kind have in the tailwind this Can with -- cruise the how a that see quick based the lines 'XX talk impact partners? amount of maybe then onetime kind we your insights in 'XX your on dock dynamic dry on a normalized from of

Leonard Fluxman

Leonard. it's normalized parcel cruising. and part I dry say, Look, Sharon, docks are would of,

So they've be just been into ships higher getting level might a of year what docks because seeing we're slightly this slight back service. dry

single every out but pushed Some and a of little docks dry all they're now, scheduled happen bit, they the year. got

average, be normalized scheduled, and do into we receive itineraries year account that -- these we it from we when than ships 'XX take though the docks, are even dry might have which will higher to be to serve. slightly banners back different and So the this

of we all the So of clearly our notified and dry are are in included docks have guidance. been scheduled that

Sharon Zackfia

Okay. like second the for were a it material? large dropped I'm dock impact sorry, of quantify talking. the my dry that you you cell while in Was Did And then ship quarter? fourth Stephen, there

Stephen Lazarus

million. It $X approximately was

Sharon Zackfia

period shipboard last pricing go then -- was on on the looking revenue that of curious down correctly, staff that of The you Okay. per know last Is dock? kind is you bit Are unexpected year holiday the take did year-over-year. reflective to Just advantage day, I'm I some me. metric. there? of Or And services. seeing were if a at in normalization some more that for able there question per dry that it

Leonard Fluxman

Yes.

docks I have Clearly, by think But of a and ships it normalization, number. think unexpected of quarter fourth some other to East that, than the in some your been into territory. of dry we're getting the part is the that the point. Middle normalized of nuances I impacted impacted very Sharon,

Operator

comes question with Stifel. next The from Wieczynski Steve

Jackson Gibb

for on Gibb Jackson is Steve This Wieczynski.

opportunities I'm recently partners more onboard more be heard focusing adoption on update from as they trending focus there on prebooking driving out operators, we've as an any further? booking revenues. So just for your some to pre-cruise well us metrics give could how if line seem and wondering the a you cruise and to progress collaboration push are with as of if even there are tangible

Leonard Fluxman

Yes.

So you're right. absolutely

platform including the across of an we've organized, the amount offered focus seen across more cruise I Their simply on the energy ships, customer and easier, planning. industry, their prebooking think incredible focus around entire that's us. getting making is onboard all revenue choices

higher for up. But the we a into cruise much at have to the amount as pertains we've of And seen, time, week. seen, spend the going better revenue they have that same XX% to a prebooked XX% seen

of the starting of are be around different offering, think side getting e-mail types campaigns, the we marketing. level I the get think which going to on to on I so we're with them, up to and your impact to it, the got reducing point, we And to prebooking focused is them tremendous working because said, they're improvement friction collaboration prebook technology whole to XX%. pre-book, campaigns

'XX which level. believe that late all 'XX, positive board, grow to continue on which in on have impact now 'XX. We NCL will will a think to in have I We of came

a be it, with supporting able think I and I the turn pre-booking us. So more on marketing, imaging real positive to And it's line with additional cruise think providing for their it activity. and us the collaboration, some focus with we'll drive

Jackson Gibb

just one Okay. if That's I And great may. more, to hear.

pay Is forward? an million interest this we moving between priorities and that in repurchases expect $X your buybacks $X wanted get the down of should with quarter. capital million potential of [indiscernible], balanced to thoughts approach fourth share updated [indiscernible]. debt Just you So on the allocation

Stephen Lazarus

Yes.

So have now relates we where good as have to and and X position therefore, share we quarter, how appropriately, a proceed. the debt we targeted noted ratio did it in the to you repurchases. leverage in forward going things our as as debt payback We're flexibility [indiscernible] reached do

how how consider focus a change on have and not have how just rates exclusive, it out, interest being go-forward to see on plays I cash it's we certainly, appropriate and those obviously, we items, determine we So basis. build to proceed before we as how the But will think one or mutually don't we'll other.

We will and paydowns shareholders look as at debt cash both returning to appropriate.

Operator

The from next comes question Truist with Miller Securities. Gregory

Gregory Miller

point, the within in customer Are high passengers in service you seen weak recent the any level passengers thought terms start by any cruise I passengers of luxury price or and patterns you spend deviation banners? contemporary retail seeing premium spots trends at I'd of market among and between and have banner mass terms spend?

Leonard Fluxman

drop-off any actually any seen haven't gaps change or demographics. of we No, Greg. across or levels any the different concern of or any any

high-end So mass are contemporary well. and and performing all

we've seen services So ability our no into spa. them demand bring for guest sign and of our the to

Gregory Miller

to Excellent hear.

for provide to you tax. any any? about impact the if perspective your second As company, ask anticipated Could question, you current minimum your global I my thought on to

Stephen Lazarus

Yes, Greg, a I is issued very for obviously implementing and Cooperation The Development, XX% minimum Economic a aware Organization everybody model tax. for of global think OECD,

continues those regard. and the anything evolve process issuing rules are to The of taxes. countries there the will in to still application regulations finalized in The rules these it included as are that and Bahamas relate that to has of taxes relating not

So be until impact there I any will OneSpaWorld to least XXXX. believe at

as where this potential arena time, to to monitor [indiscernible] is continue in At any future this that obviously and stand. feasible will actions we point minimize We implement impact.

Operator

question from Cowen. TD Rakhlenko Max next with comes The

Maksim Rakhlenko

on results. nice really Congrats

sort holiday Did any you elasticity And over calling or So any actions if how first, successful your pricing just then any incorporate the can you did worth XXXX us, anything see If incorporating so, could out? outlook? you remind us, it? or are you period? of into pricing you hallmark was pricing remind actions

Leonard Fluxman

might time So and and on New through in the no place in stays still that we've hallmark discounting discount, Year to XXXX Max, it seen period, in hallmark less do, XXXX resistance impact to we to Christmas, pricing. seen We've continued seen prior seen where every the pricing across clearly, obviously And banners. goes that. go than we most we of did but ever before, some we've we we're banners and able have the in as

some is long keep has services answer it's as across stickiness as place for in as where does Hallmark can. pricing simple the different So we working. it we and

With just respect you second to there, the back your question second question, repeat the the can of we had Max? -- that just Sorry. half you question,

Maksim Rakhlenko

Yes, certainly.

just pricing actions So incorporating outlook? curious you're your into if 'XX

Leonard Fluxman

incorporated we targeted or guidance. pricing any haven't or pricing No, No. pricing in the leverage increases

of be believe We're However, we do just filters decided where can have have taken, to see places have on to as going year-end. post we'll pricing leverage kind how we not move the And when that. we but continue out. year we

But don't in we've where given that and we'll we can I it to expect where have is had, the certain the up good strong. start that problem areas demand a move

Maksim Rakhlenko

Got it.

And your think you at prebooking in high go revenue 'XX? a XX% you potentially range do the can mix Okay. previously Where with switching end. then gears. gave think I

next the as curious So both what's medium feasible well as over just term. over the years

Leonard Fluxman

target the earlier session here. a questions kind one of set is in to like where We've it we'd going on to was take term fielded But a which as of the years. few of be, long

more more that platform, the see to and think and get improve I hyperfocused the people continued attachment are given we to and so prebook continue on to moving will prebook. collaboration into cruise effort lines

showing can their what's them, refinements, certain best-in-class making working they where working working, and not what's improve We're sites. with

I'm move is the in given we'll to we'll focus So I there, sure, certainly ultimately the we're our XXs. When not but toward number. number low positively believe support and that getting, targeted get continue

Maksim Rakhlenko

just then can little service for in a And the last missed walk Okay. of I It adjusted outsized was gross quarter. drove unless one this what bit your you through quick me. But it, margin? sort pressure

onetime anything there it we was something is if of or So into XXXX? be continue cognizant that whether should should

Stephen Lazarus

seasonality just don't we No, should the there's It's anything that [indiscernible]. if continue. in believe, Max,

total absolute on dollars sense us no As we at focus have for a that makes time it [indiscernible]. our say, on work have they and always don't is that therapists absolutely board to driving the

there that which as on tools and discounting managers many including are necessary, drives to board So utilization, [indiscernible] absolute appropriate increase dollars. use

on se out And per focus so in absolute nothing always the sticks we'll the but [indiscernible]. dollars, that

Operator

Laura next Capital. Loop from Champine question comes with The

Laura Champine

little Just a housekeeping.

mark, the do we warrant expect your count With about? to expire any in share you set that change should know

Stephen Lazarus

warrants is we the on us [indiscernible] basis, each The saw treasury here warrants diluted calculation. a play interesting the that a exercised do quarter count part out are on share will for included [indiscernible] Laura, cashless basis. as

so the have know, a don't ] By you X,XXX will to comes strike price As they of they extent into company. That much they're optionality. on exercised the and the on to determine basis, [ basis. cash which way, a some exercise a how have have cash the do cash

And then share a diluted it may basis. impact -- count it would cashless on not impact it's because the

weeks number. have and share XX, now, already when right we treasury literally So count March it's in X more X included -- then. But plays pure a see wait that visibility cashless we'll -- it so just X basis, is it's away, how from have to remember, weeks the and exactly or out

Laura Champine

the use windfall of this company debt? cash, would that is Understood. generate Or down that magnitude? an pay it to does meaningful expected If not

Stephen Lazarus

that But as too have to then and I really as to we mutually early It quarter, move make would in, the how that think reiterate, shareholders. exhibited we is decision-making again, of we'll exclusive to comes matter don't I it's see it cash forward. fourth in a determination. relates be to

Operator

with The Assia comes from Georgieva next Research. Infinity question

Assia Georgieva

Stephen, you. maybe the question is first for

from EBITDA then at of it onetime Given specifically, $XX million? we QX arrive this adjusted close to and EBITDA $X.X you think million shouldn't said exclude I charge,

the this, that forward? lien pay to such going be charges related you And continue incurring expect you other you first may loan do down to term as

Stephen Lazarus

in is generate this As will payment. our it charges. Assia, any relates your leverage additional the a not to second indeed onetime no, reduction ratio just Further part question, of

no technically an excluded be already this. as it's is recorded charges will additional from because to EBITDA interest similar It there payment. So

So it outside is calculation. the of EBITDA

Assia Georgieva

QX And Okay. top in understand to kind that as is of of again, QX of weakest have expect out QX and opposed quarter QX? probably the adjusted cadence And the I be the sort year. we just comparing EBITDA Shouldn't reduction guidance, dry at more EBITDA the end docks your slightly a to of versus to range, versus million QX. $XX.X the we

Stephen Lazarus

obviously to of We the that be what be. think be expectation it not. range say the a or me I -- should appropriate high range encompasses our we for provide at of EBITDA would would don't you expect it to end

Our now, -- of expectation expectation it fall is that that as is that will fall right will our range? within it

Assia Georgieva

And asking. warrants of follow was you the question what cash-only kind just us percentage a the what are up on the part warrants rough to give Laura exercised? just of of Can on

Stephen Lazarus

I not a on lose warrants they whether -- capability. it's calculation It's transacted, were you because will or simple tell depending that that sponsor subsequently not

be cashless a is non-cashless. how much much will be will there to and how nuance So

have I nothing much wouldn't know see That's to come get not with March or how we I surprised in to exactly away honestly them. and XX order wait exercised, fact, don't what yet. any in just of the and warrants keep be may in suddenly determine happens if cash might I and if they why saying now pull between happens

lose they I yet. just know they the cashless And traded right don't I the it's because of of the once were get nuance exercise. see traded, whether or around So they not.

point don't I time. know this So in at

Assia Georgieva

outside as can for be figure weeks imagine, warrants. those complicated because to us what X over confusing on would exactly in, wait it's you looking with can't out happen these for to even more sometimes the than I

the on hoping XX. I'm for March So outcome best

Stephen Lazarus

since Believe right. the X or that's Look, Yes. X years it years, destack. not,

Operator

like question-and-answer would remarks. This conference Fluxman, session. to over to I for Chairman, Leonard turn the COO, Executive closing any our and concludes back CEO

Leonard Fluxman

in forward you when today. first results our all joining We with for look you May. Thanks soon. Thank to report speaking Bye-bye. today. we for joining us quarter Talk Right.

Operator

The for today's Thank conference has presentation. now you attending concluded.

disconnect. You may now

OneSpaWorld Holdings Limited (OSW) 28 Feb 242023 Q4 Earnings call transcript