Total Revenues

+4% (from $211,226K to $219,630K)

**The 4% increase (approximately $8.4M) reflects ongoing operational improvements similar to those in FY 2024—such as increased guest spend and extended revenue days—that have steadily driven revenue growth. These drivers were also influential in past periods, suggesting continuity in core revenue-generating activities. " "

Service Revenues

+3.7% (from $172,209K to $178,519K)

The 3.7% rise (about $6.3M) is indicative of modest improvements in onboard service sales and the performance of health and wellness centers. This trend builds on previous period initiatives where enhanced guest experiences contributed to higher service revenues. " "

Product Revenues

+5.4% (from $39,017K to $41,111K)

The 5.4% increase (roughly $2.1M) suggests that product-related initiatives—likely including fleet expansions and higher guest spending—are gaining traction, paralleling factors that boosted product revenues in earlier periods. " "

Income from Operations

-0.8% (from $16,977K to $16,837K)

A marginal decline of about $0.14M in operating income hints that while revenue growth initiatives continue, rising operating costs may be offsetting efficiency gains seen in previous periods, resulting in nearly flat performance. " "

Net Income

-27.8% (from $21,166K to $15,271K)

The significant 27.8% drop (approximately $5.9M) is primarily due to the absence of a prior period gain—specifically, a roughly $7.7M positive adjustment from the fair value of warrant liabilities recorded in Q1 2024—which had boosted net income. This correction reflects a reversion to more typical operating results. " " "

Salary, Benefits, & Payroll Taxes

+29% (from $8,493K to $10,995K)

The 29% increase (an additional ~$2.5M) likely results from operational expansion and rising labor costs, contrasting with earlier trends (such as the cost efficiencies seen in FY 2024). The documents do not specify exact drivers, but the scale of growth suggests expanded workforce or higher rates reflective of increased operational activity. " "