SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2024

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 September 30, 2024 and 2023 to the total amount presented in our condensed consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023 (in thousands):

	Balance as of September 30,
	2024		2023
Cash and cash equivalents	$	48,795	$	26,802
Restricted cash		1,198		1,198
Total cash and restricted cash in the condensed consolidated statement of cash flows	$	49,993	$	28,000

Summary of Income per Basic and Diluted Share Calculation

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

	Three Months Ended September 30,					Nine Months Ended September 30,
	2024		2023			2024		2023 (a)
Numerator:
Net income	$	21,551	$	23,411		$	58,476	$	4,330
Less change in fair value of in-the-money warrant liabilities		—		(7,400	)				—
Net income, adjusted for change in fair value of warrants for diluted earnings per share	$	21,551	$	16,011		$	58,476	$	4,330
Denominator:
Weighted average shares outstanding – Basic		104,884		99,963			103,824		96,975
Dilutive effect of warrants		—		482			292		—
Dilutive effect of stock-based awards		703		924			646		—
Weighted average shares outstanding – Diluted		105,587		101,369			104,762		96,975
Net income per voting and non-voting share:
Basic	$	0.21	$	0.23		$	0.56	$	0.04
Diluted	$	0.20	$	0.16		$	0.56	$	0.04

(a) Potential common shares under the treasury stock method and the if-converted method were antidilutive because 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 income per share related to stock-based awards 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 per share (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Sponsor Warrants		—		—		—		3,842
Public Warrants		—		—		—		841
2020 PIPE Warrants		—		—		—		—
Restricted stock units		—		105		—		105
Performance stock units		282		—		282		—
		282		105		282		4,788