XWELL Q3 revenue $10.7M (down 60%), net loss $7.2M vs profit $5.6M

XWELL, Inc.

2022-Q3 EPS reported -$0.20 revenue$48,381,000

Revenue $10.7M, down 60% from $26.8M; loss from operations $7.65M vs income $7.1M in Q3 2021.
Net loss attributable to common shareholders $7.2M vs net income $5.6M in prior year; Adjusted EBITDA loss $4.56M.
Closed five unprofitable XpresCheck locations in Q3; plans to close seven more in Q4; two XpresCheck sites and five biosurveillance stations expected for 2023.
Cash and equivalents $49.4M, no debt; repurchased 11.0M shares at avg $1.03 in Q3 for $11.4M.
Awarded new CDC/Ginkgo biosurveillance contract with potential value up to $61M based on options.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

XWELL, Inc. reported financial results for the third quarter ending September 30, 2022.

Period: the third quarter ending September 30, 2022
Result: reported results

Exact text from the filing

NEW YORK, November 10, 2022 -- XWELL, Inc. (Nasdaq: XWEL), a leading global health and wellness holding company, today reported results for the third quarter ending September 30, 2022.

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XWELL, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-117166

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