ONESPAWORLD HOLDINGS Ltd
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
OSW$32.22-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated and Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $72,864 | $(2,974) | $53,159 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 24,276 | 22,040 | 22,353 |
| Long-lived assets impairment | 376 | 2,129 | — |
| Stock-based compensation | 9,071 | 10,138 | 12,893 |
| Amortization of deferred financing costs | 782 | 1,463 | 1,103 |
| Income tax benefit from change in reserve of uncertain tax positions | — | (3,440) | — |
| Losses on early extinguishment of debt | 735 | — | — |
| Change in fair value of warrant liabilities | (7,677) | 37,557 | (54,400) |
| Provision for doubtful accounts | 18 | 59 | 18 |
| Loss from write-offs of property and equipment | 119 | 14 | 10 |
| Deferred income taxes | 1,137 | (2,092) | (181) |
| Changes in: | |||
| Accounts receivable. net | (5,498) | (7,285) | (14,096) |
| Inventories, net | 756 | (7,669) | (10,352) |
| Prepaid expenses | (677) | 3,440 | (510) |
| Other current assets | (1,396) | (2,953) | (460) |
| Other non-current assets | (22,096) | (434) | 55 |
| Accounts payable | (1,957) | 7,581 | 8,278 |
| Accrued expenses | 647 | 5,992 | 6,567 |
| Other current liabilities | (15) | (238) | 242 |
| Other long-term liabilities | 7,333 | — | — |
| Income tax contingency | — | — | 17 |
| Noncash lease expense | — | 48 | 67 |
| Net cash provided by operating activities | 78,798 | 63,376 | 24,763 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Capital expenditures | (6,743) | (5,415) | (4,825) |
| Net cash used in investing activities | (6,743) | (5,415) | (4,825) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from exercise of warrants | 51,698 | 2,426 | 59 |
| Repurchase of common shares | (18,988) | (9,042) | — |
| Proceeds from term loan facility | 100,000 | — | — |
| Repayment on first and second lien term loan facilities | (159,639) | (56,042) | (18,776) |
| Payment of deleveraging fee on first lien term loan facilities | (5,420) | — | — |
| Dividends | (8,331) | — | — |
| Payment of deferred financing costs | (1,528) | — | — |
| Net cash used in financing activities | (42,208) | (62,658) | (18,717) |
| Effect of exchange rate changes on cash | (112) | 337 | (792) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 29,735 | (4,360) | 429 |
| Cash, cash equivalents and restricted cash, Beginning of period | 28,902 | 33,262 | 32,833 |
| Cash, cash equivalents and restricted cash, End of period | $58,637 | $28,902 | $33,262 |
CONSOLIDATED A STATEMENTS OF CASH FLOWS (CONTINUED)
| Year Ended December 31, | |||
|---|---|---|---|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | 2024 | 2023 | 2022 |
| Cash paid during the period for: | |||
| Income taxes | $3,260 | $4,716 | $434 |
| Interest | $11,366 | $21,343 | $14,008 |
| Non-cash financing transactions: | |||
| Exchange of warrants into common shares | $— | $45,261 | $— |
| Cashless exercise of warrants | $6,793 | $24,370 | $— |
| Accrued dividends cancelled on common stock | $2,449 | $— | $— |
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