SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Summary of Reconciles Cash, Cash Equivalents and Restricted Cash

The following table reconciles cash, cash equivalents and restricted cash reported in our condensed consolidated balance sheet as of June 30, 2022 and 2021 to the total amount presented in our condensed consolidated statements of cash flows for the six months ended June 30, 2022 and 2021 (in thousands):

	Balance as of June 30,
	2022		2021
Cash and cash equivalents	$	31,990	$	39,899
Restricted cash		1,896		1,896
Total cash and restricted cash in the condensed consolidated statement of cash flows	$	33,886	$	41,795

Summary of Loss per Basic and Diluted Share Calculation

The following table provides details underlying OneSpaWorld’s income (loss) per basic and diluted share calculation (in thousands, except per share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021 (a)
Numerator:
Net income (loss)	$	55,894		$	305		$	49,578		$	(45,263	)
Less change in fair value of in-the-money warrant liabilities		(12,400	)		(4,000	)		(12,200	)		—
Net income (loss), adjusted for change in fair value of warrants for diluted earnings per share	$	43,494		$	(3,695	)	$	37,378		$	(45,263	)
Denominator:
Weighted average shares outstanding – Basic		92,352			90,563			92,278			88,903
Dilutive effect of 2020 PIPE Warrants		1,895			2,369			2,043			—
Dilutive effect of stock-based awards		551			—			543			—
Diluted		94,798			92,932			94,864			88,903
Net Income (loss) per voting and non-voting share:
Basic	$	0.61		$	0.00		$	0.54		$	(0.51	)
Diluted	$	0.46		$	(0.04	)	$	0.39		$	(0.51	)

(a) Potential common shares under the treasury stock method and the if-converted method were antidilutive because the Company reported a an adjusted net loss in this period and the effect of the change in the fair value of warrants was antidilutive. Consequently, the Company did not have any adjustments in this period between basic and diluted loss per share related to stock options, restricted share units and warrants.

Summary of Number of Antidilutive Potential Common Shares

The table below presents the number of antidilutive potential common shares that are not considered in the calculation of diluted income (loss) per share (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Sponsor Warrants		8,000		8,000		8,000		8,000
Public Warrants		16,145		16,145		16,145		16,147
2020 PIPE Warrants		—		—		—		5,000
Deferred shares		—		—		—		778
Employee stock options		—		3,434		—		3,902
Restricted stock units		49		1,720		49		1,734
Performance stock units		—		534		—		707
		24,194		29,833		24,194		36,268