secwatch.observer — SEC 8-K summary
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Issuer:     XWELL, Inc. (XWEL)
CIK:        0001410428
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001104659-22-117166
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1410428/000110465922117166/0001104659-22-117166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1410428/000110465922117166/tm2230190d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-117166

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer