OneSpaWorld Holdings Limited

Greetings and welcome to One Spa World's third 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 of ICR. Thank you. You may begin.

Good morning and welcome to One Spa World's third 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 Common webcast, we refer you to the disclaimer regarding forward-looking statements that is included in our third quarter 2026 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. 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 Financial Officer and Chief Operating Officer. Leonard will begin with a review of our third quarter 2026 performance and provide an update on our key priorities. Then Stephen will provide more detail on the financials and guidance. Following our prepared remarks, we'll 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 third quarter 2026 earnings conference call. I'm pleased to share we delivered an excellent third quarter performance. Our results exceeded the high end of our guidance and marked our 22nd consecutive quarter of record year-over-year growth for total revenue and adjusted EBITDA. Our sustained momentum reflects the durability of our business model, the successful execution of our strategy, and our unwavering commitment to deliver memorable experiences for guests of our health and wellness centers at sea and on land. I want to thank our outstanding global team members for their continued commitment to deliver our strong performance. Our strength was broad-based. We saw gains across all key operating metrics and we set the stage to further extension by entering into new agreements that extend our longstanding cruise line partnerships, which I will discuss in a moment. In addition, our asset-light business model has led to consistently strong and growing free cash flow. This, along with the confidence we have in our near and long-term outlook, paved the way for our board to approve a new $100 million share repurchase program and a 25% increase in our quarterly dividend. Moving ahead, we expect the foundation of our strategy to give us our fourth consecutive year of record results in fiscal 2026.