ONESPAWORLD HOLDINGS Ltd
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
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FY2025 · Filed Feb 23, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $71,618 | $72,864 | $(2,974) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 25,332 | 24,276 | 22,040 |
| Long-lived assets impairment | 3,145 | 376 | 2,129 |
| Loss on divestitures and liquidations, net | 364 | — | — |
| Stock-based compensation | 10,086 | 9,071 | 10,138 |
| Amortization of deferred financing costs | 419 | 782 | 1,463 |
| 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 |
| Provision for doubtful accounts | 18 | 18 | 59 |
| Loss from write-offs of property and equipment | — | 119 | 14 |
| Noncash lease expense | 329 | — | 48 |
| Deferred income taxes | 907 | 1,137 | (2,092) |
| Changes in: | |||
| Accounts receivable. net | (2,575) | (5,498) | (7,285) |
| Inventories, net | (12,787) | 756 | (7,669) |
| Prepaid expenses | (2,663) | (677) | 3,440 |
| Other current assets | 386 | (1,396) | (2,953) |
| Other non-current assets | (3,700) | (22,096) | (434) |
| Accounts payable | 2,798 | (1,957) | 7,581 |
| Accrued expenses | (10,114) | 647 | 5,992 |
| Other current liabilities | (125) | (15) | (238) |
| Other long-term liabilities | 81 | 7,333 | — |
| Net cash provided by operating activities | 83,519 | 78,798 | 63,376 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Capital expenditures | (15,073) | (6,743) | (5,415) |
| Cash disposed of in connection with divestiture | (1,643) | — | — |
| Net cash used in investing activities | (16,716) | (6,743) | (5,415) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from exercise of warrants | — | 51,698 | 2,426 |
| Repurchase of common shares | (75,441) | (18,988) | (9,042) |
| Proceeds from term loan facility | — | 100,000 | — |
| Repayment on first and second lien term loan facilities | (15,000) | (159,639) | (56,042) |
| Payment of deleveraging fee on first lien term loan facilities | — | (5,420) | — |
| Dividends | (17,465) | (8,331) | — |
| Payment of deferred financing costs | (9) | (1,528) | — |
| Net cash used in financing activities | (107,915) | (42,208) | (62,658) |
| Effect of exchange rate changes on cash | (21) | (112) | 337 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (41,133) | 29,735 | (4,360) |
| Cash, cash equivalents and restricted cash, Beginning of period | 58,637 | 28,902 | 33,262 |
| Cash, cash equivalents and restricted cash, End of period | $17,504 | $58,637 | $28,902 |
CONSOLIDATED A STATEMENTS OF CASH FLOWS (CONTINUED)
| Year Ended December 31, | |||
|---|---|---|---|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | 2025 | 2024 | 2023 |
| Cash paid during the period for: | |||
| Income taxes | $2,863 | $3,260 | $4,716 |
| Interest | $6,099 | $11,366 | $21,343 |
| 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 | $— |
| Non-cash investing transactions: | |||
| Receivable recorded in connection with divestitures of subsidiaries | $2,281 | $— | $— |
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