OneSpaWorld Holdings Limited

Greetings and welcome to the One Spa World second quarter 2026 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Alison Malkin, partner of ICR. Thank you. Please go ahead.

Thank you, good morning, and welcome to One Spa World Second Quarter 2026 Earnings Call-In Webcast. Before we begin, I'd like to remind you that certain statements and information made available on today's call-in 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 second quarter 2026 earnings release which was furnished to the SET today on Form 8K. 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. Explanations of these metrics can be found in our earnings release issued earlier this morning. Joining me today are Leonard Fluxman, Executive Chairman and Chief Executive Officer, and Stephen Lazarus, President, Chief Operating Officer, and Chief Financial Officer. Leonard will begin with a review of our second quarter performance and provide an update on our key priorities. Then Stephen will provide more details on the financials and guidance. Following our prepared remarks, we will turn the call over to the operator to begin the question and answer portion of the call. I would now like to turn the call over to Leonard.

Thank you, Alison. Good morning and welcome to One Spa World's second quarter 2026 earnings conference call. It's a pleasure to speak with you all this morning and share another strong performance that delivered our 21st consecutive quarter of record total revenues and adjusted EBITDA to cap an exceptional first half of the year. Our sustained positive performance continues to reflect our team's innovation mindset and the increasing power of our global operating platform, which combined creates remarkable experiences for our guests, outstanding value for our cruise line and destination resort partners, and strong operating and financial performance. This further reinforces our leadership position as a trusted global provider of health and wellness services at sea. Thank you for joining us. and growth from new partnerships and new ship introductions. Turning to the highlights of the second quarter, total revenues increased 9% and adjusted EBITDA increased 13%. At quarter end, we operated health and wellness centers on 208 ships with an average ship count of 202 for the quarter. This compares with a total of 200 ships and an average ship count of 191 ships at the end of the second quarter of fiscal 2025. Also at quarter end are cruise ship health and wellness centers with staff by 4,664 personnel compared with 4,365 personnel on vessels at the end of the second quarter of fiscal 2025. The quarter marked meaningful progress in our key priorities. And while I'm going to address my favorite four, I'm going to leave probably one with much curiosity is AI will be covered by Stephen and his remarks. So firstly, we captured high visible new growth, ship growth with Cousin Cruise Line Partners. During the quarter, we launched our state-of-the-art health and wellness center on board Royal Caribbean's Legend of the Seas and expanded our partnership with Azamara Cruises. We remain on track to introduce health and wellness centers on three additional new shipbuilds later this year. Second, we continue to expand higher value services and products. These services, including our innovative offerings of Dimage, TruSculpt and CoolSculpting, IV therapy, acupuncture LED therapy, continue to drive strong double digit growth in the second quarter. We will continue expanding these services across our fleet while introducing new offerings that address travelers' growing focus on longevity and wellness. At quarter end, many spa services were available on 156 ships, up from 147 ships at the end of the second quarter of 2025. We expect to have many spa offerings on 159 ships by year end 2026. Third, we focused on enhancing health and wellness center productivity. This is best reflected in continued growth in key operating metrics, including revenue per passenger per day, weekly revenue, and revenue per staff per day. Additionally, pre-book revenue grew 14% in total and grew as a percentage of total service revenue with forward bookings looking strong, up 20% as compared to last year. Staff retention continues to deliver impressive gains. At quarter end, staff retention was 81%, rising four percentage points over last year. As we have stated in the past, having experienced staff is a key contributor to our consistent gains in operating metrics, as these members continue to drive incremental revenue through more effective guest recommendations, cross-selling, and up-selling. We remain committed to investing in best-in-class training to support productivity and long-term growth in our operating metrics. Fourth and finally, we maintained a strong and durable balance sheet and generated robust free cash flow. During the quarter, we returned $5.1 million to shareholders through our quarterly dividend and reduced debt by $1.3 million under our term loan facility. We ended the quarter with a strong balance sheet including $41.6 million in cash and $91.6 million of total liquidity, providing continued flexibility to invest in our business while returning capital to shareholders. During the quarter, we opportunistically purchased 16,134 shares of our common stock and at quarter end had $37.1 million available under our share purchase authorization. Looking ahead, we remain confident that 2026 will be another record year for this company. Backed by our exceptional team, differentiated operating platform, and continued focus on innovation and execution, we believe we are well positioned to extend our leadership in health and wellness services at sea while delivering exceptional value to our cruise line partners, memorable experiences for our guests, and long-term value to our shareholders. With that, I'll turn you over to Stephen who will provide more details of our second quarter results and guidance. Stephen.