XWELL (XWEL) AI Stock Analysis

• Market Cap: $4.38M
• Dividend Yield: N/A
• Average Volume (3M): 79.79K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: -12.74%
• EPS Growth: 13.22%
• Country: US
• Employees: 246
• Sector: Healthcare
• Sector Strength: 45
• Industry: Personal Products & Services
• EPS (TTM): -0.26
• Shares Outstanding: 5,766,703
• 10 Day Avg. Volume: 196,854
• 30 Day Avg. Volume: 79,787
• PEG Ratio: <0.01
• Price to Book (P/B): -8.84
• Price to Sales (P/S): 0.21
• P/FCF Ratio: -0.54
• Enterprise Value/Market Cap: 4.74
• Enterprise Value/Revenue: 0.70
• Enterprise Value/Gross Profit: 3.78
• Enterprise Value/Ebitda: -2.21
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $0.75 ▼(-3.97% Downside)

XWELL's overall stock score is heavily impacted by its poor financial performance and valuation, both scoring at the lowest end of the scale. The technical analysis also indicates a bearish trend, further weighing down the score. The potential Nasdaq delisting adds to the negative outlook, although it was not directly included in the weighted score.

Positive Factors

Partnership Expansion

Expanding the Priority Pass partnership globally enhances XWELL's market reach and service accessibility, potentially driving long-term revenue growth.

Product Innovation

The collaboration with Ostrichpillow on a new product line showcases XWELL's commitment to innovation, potentially attracting new customers and enhancing brand value.

Revenue Diversification

Diversified revenue streams from wellness services and screenings provide resilience against market fluctuations, supporting stable long-term growth.

Negative Factors

Financial Distress

Ongoing financial distress with negative equity and cash flow issues threatens XWELL's operational stability and long-term viability.

Nasdaq Delisting Risk

The risk of Nasdaq delisting could limit XWELL's access to capital markets, affecting its ability to raise funds and invest in growth initiatives.

Negative Revenue Growth

Negative revenue growth indicates declining market demand or competitive pressures, challenging XWELL's ability to sustain its business model.

XWELL Business Overview & Revenue Model

Company Description

XWELL Inc., a health and wellness services company, provides spa services at airports. It operates through XpresSpa, XpresTest, Treat, and HyperPointe brands. The company offers spa services, including massage, and nail and skin care, as well as spa and travel products; and retail products. It also operates wellness centers that provides COVID-19 screening and testing, and rapid testing services for other communicable diseases, such as influenza, COVID-19, RSV, Flu A&B, and seasonal flu vaccination services; and other medical diagnostic testing services. In addition, the company offers services through an integrated digital platform, and a relevant retail offering to the traveling public. As of December 31, 2021, it operated 52 spa and clinic locations in 24 airports in the United States, the Netherlands, and the United Arab Emirates. The company was formerly known as XpresSpa Group, Inc. and changed its name to XWELL Inc. in October 2022. XWELL Inc. is headquartered in New York, New York.

How the Company Makes Money

XWELL generates revenue through multiple streams, primarily by offering wellness services and health screenings at strategic locations such as airports and corporate offices. The company charges fees for its health services and product offerings, which include wellness kiosks and telehealth consultations. Additionally, XWELL may engage in partnerships with businesses and organizations to provide tailored wellness programs, creating additional revenue opportunities. These partnerships can include contracts with airports, corporate clients, and healthcare organizations, contributing significantly to the company's overall earnings.

XWELL Financial Statement Overview

Summary

XWELL is facing significant financial challenges, with deteriorating revenue and profitability metrics. The balance sheet shows weakened financial health with negative equity, and cash flow issues persist, reflecting operational inefficiencies and liquidity concerns. The company is under financial distress, requiring strategic adjustments to improve its financial position.

Income Statement

The company's revenue has decreased significantly over the years, with a notable decline from 2021 to 2023. Gross profit margin improved slightly in 2023 compared to 2022, but remains weak at 26.3%. Net profit margin is negative, indicating consistent losses. EBIT and EBITDA margins are also negative, reflecting operational challenges despite some improvement in EBIT in 2024.

Balance Sheet

The company has a negative stockholders' equity in 2024, indicating financial distress. The debt-to-equity ratio is not meaningful due to negative equity. The equity ratio is also negative, signaling potential solvency issues. Total assets have decreased significantly, impacting the company's financial stability.

Cash Flow

Operating cash flow is negative, indicating cash outflows from operations. Free cash flow is also negative, reflecting ongoing financial strain. Cash flow from financing activities has been inconsistent, with a significant drop in 2024. The operating cash flow to net income ratio suggests poor cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	29.52M	33.90M	30.11M	55.94M	73.73M	8.38M
Gross Profit	5.49M	8.92M	3.68M	12.05M	32.34M	-3.60M
EBITDA	-9.38M	-11.16M	-15.75M	-19.12M	8.14M	-17.52M
Net Income	-15.31M	-16.85M	-27.74M	-32.84M	3.35M	-90.49M
Balance Sheet
Total Assets	21.74M	25.35M	38.99M	70.43M	127.27M	103.13M
Cash, Cash Equivalents and Short-Term Investments	4.22M	11.80M	23.05M	42.19M	105.51M	89.80M
Total Debt	9.89M	10.77M	11.09M	14.11M	13.82M	15.38M
Total Liabilities	18.68M	17.61M	18.02M	22.48M	27.33M	22.76M
Stockholders Equity	-6.33M	-788.00K	13.00M	39.93M	92.73M	77.81M
Cash Flow
Free Cash Flow	-15.12M	-12.80M	-18.45M	-31.02M	6.97M	-29.36M
Operating Cash Flow	-12.13M	-11.01M	-16.07M	-24.19M	14.56M	-25.01M
Investing Cash Flow	8.51M	5.89M	5.65M	-34.84M	-5.16M	-4.35M
Financing Cash Flow	2.78M	1.36M	8.00K	-27.38M	6.35M	117.22M

XWELL Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.78
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XWEL, the sentiment is Negative. The current price of 0.78 is below the 20-day moving average (MA) of 0.79, below the 50-day MA of 0.89, and below the 200-day MA of 0.96, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 40.21 is Neutral, neither overbought nor oversold. The STOCH value of 34.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for XWEL.

XWELL Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RGS	59 Neutral	$70.79M	0.66	98.54%	―	13.98%	34.14%
MRM	58 Neutral	$15.65M	5.41	48.22%	―	13.71%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MED	44 Neutral	$128.16M	566.03	0.12%	―	-36.29%	-96.65%
TRNR	41 Neutral	$4.39M	―	-170.12%	―	207.23%	99.88%
EJH	40 Neutral	$16.69M	-0.02	-1.75%	―	-2.53%	99.45%
XWEL	40 Underperform	$4.38M	―	―	―	-12.74%	13.22%

XWELL Corporate Events

XWELL Faces Nasdaq Delisting Notice Over Bid Price

On December 1, 2025, XWELL, Inc. received a notification from Nasdaq indicating that the company did not meet the minimum bid price requirement of $1.00 per share for its common stock over a 30-day period. XWELL has been given a compliance period until June 1, 2026, to meet this requirement by maintaining a minimum closing bid price of $1.00 for at least ten consecutive business days. If XWELL fails to comply within this period, it may qualify for an additional 180 days if it meets other listing standards, potentially requiring a reverse stock split. The letter does not immediately affect the company’s stock listing, but failure to comply could lead to delisting.

XWELL Finalizes Securities Exchange Agreement with Amendments

XWELL, Inc. entered into a Securities Exchange and Amendment Agreement with holders of its Series G Convertible Preferred Stock on November 3, 2025. The agreement involved exchanging a portion of the company’s outstanding Series G Preferred Stock for senior secured convertible notes, with the closing of the exchange occurring on November 10, 2025. The company filed a Certificate of Amendment on November 7, 2025, which amended the terms of the Series G Preferred Stock, including reducing the conversion price, removing certain cash maintenance covenants, and adding anti-dilution provisions. These changes are expected to impact the company’s financial operations and stakeholder interests.

XWELL Announces 2025 Annual Meeting Date Change

On November 6, 2025, XWELL, Inc. announced that its 2025 Annual Meeting of Stockholders will be held on December 18, 2025. The company has changed the meeting date by more than 30 days from the previous year, prompting a new deadline for stockholder proposals and nominations. Stockholders must submit proposals or nominations by November 17, 2025, to be considered for inclusion in the meeting’s proxy materials, in accordance with the company’s bylaws and SEC regulations.

XWELL Agrees to Exchange Series G Stock for Notes

XWELL, Inc. entered into a Securities Purchase Agreement on January 14, 2025, with accredited investors to sell Series G Convertible Preferred Stock and warrants. On November 3, 2025, the company agreed to exchange a portion of this stock for senior secured convertible notes, with the exchange expected to close on November 5, 2025. This move involves amendments to the terms of the Series G Preferred Stock and warrants, including price adjustments and anti-dilution provisions, potentially impacting the company’s financial structure and investor relations.

XWELL Cancels 2025 Annual Stockholders Meeting

On August 8, 2025, XWELL, Inc. announced the cancellation of its 2025 annual meeting of stockholders, initially scheduled to reconvene on October 10, 2025. The company plans to reschedule the meeting and will issue a new proxy statement, reflecting its ongoing commitment to transparent communication with its stakeholders.

XWELL Adjourns Annual Meeting for Shareholder Voting

On September 16, 2025, XWELL, Inc. adjourned its 2025 Annual Meeting of Stockholders to provide additional time for shareholders to consider and vote on the company’s proposals. The meeting will reconvene virtually on October 10, 2025, with the proxy deadline set for October 9, 2025. Shareholders who have already voted do not need to take further action unless they wish to change their vote. The company has filed a Definitive Proxy Statement with the SEC, which contains important information about the meeting and the company.