Xwell, Inc. Reports Increased Losses Amid Revenue Decline

Xwell, Inc. ( (XWEL) ) has released its Q1 earnings. Here is a breakdown of the information Xwell, Inc. presented to its investors.

Xwell, Inc. is a global wellness organization that provides health-focused services to travelers through its XpresSpa, XpresTest, and Naples Wax Center segments, operating primarily in major airports. In its latest earnings report for the quarter ended March 31, 2025, Xwell, Inc. reported a net loss of $4.7 million, a significant increase from the $2.5 million loss in the same period last year. The company’s revenue decreased to $7.0 million from $8.7 million, with a decline in both services and product sales. Operating expenses were reduced, but the company still faced an operating loss of $3.2 million. The company also reported a substantial increase in liabilities due to the issuance of Series G Convertible Preferred Stock and associated warrants, which were part of a private placement to raise $4 million. Despite these challenges, Xwell, Inc. is implementing strategic initiatives to reduce expenses and improve cash flow, although substantial doubt remains about its ability to continue as a going concern. Management is focused on returning to profitability through cost reduction efforts and exploring additional financing options.