SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and 2022 to the total amount presented in our condensed consolidated statements of cash flows for the three months ended March 31, 2023 and 2022 (in thousands):

	Balance as of March 31,
	2023		2022
Cash and cash equivalents	$	22,799	$	29,054
Restricted cash		1,198		1,896
Total cash and restricted cash in the condensed consolidated statement of cash flows	$	23,997	$	30,950

Summary of Loss per Basic and Diluted Share Calculation

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

	Three Months Ended March 31,
	2023 (a)			2022 (a)
Numerator:
Net loss	$	(15,904	)	$	(6,316	)
Denominator:
Weighted average shares outstanding – Basic and diluted		93,418			92,204
Loss per share:
Basic and diluted	$	(0.17	)	$	(0.07	)

(a) Potential common shares under the treasury stock method and the if-converted method were antidilutive because the Company reported a 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 Weighted-average Number of Antidilutive Potential Common Shares

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

	Three Months Ended March 31,
	2023		2022
Sponsor warrants		8,000		8,000
Public warrants		16,128		16,145
2020 PIPE warrants		4,997		5,000
Restricted stock units		1,181		1,580
Performance stock units		1,127		1,044
		31,433		31,769