---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-039221"
form_type: "8-K"
ticker: "XWEL"
cik: "0001410428"
company_name: "XWELL, Inc."
filed_at: "2023-03-30T23:59:59+00:00"
generated_at: "2026-06-17T09:06:47.761572+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# XWELL to file late 10-K due to impairment review; preliminary FY2022 revenue ~$56M

## Summary
- Plans to file Form 12b-25 for 15-day extension to assess non-cash impairment charge; 10-K expected by April 17, 2023.
- Preliminary FY2022 total revenue ~$56M: XpresSpa/Treat $15M, XpresCheck $32M, bio-surveillance $7M, HyperPointe $2M.
- Gross profit margin declined to ~22% from ~44% in 2021 due to lower testing volumes.
- G&A expenses ~$31M; second-half 2022 G&A ~$4M lower than first half reflecting cost savings.
- Cash and equivalents ~$42M; opened 5 XpresSpa locations in Istanbul, new spa at Philadelphia in 2023.

## SEC filing metadata
- accession: 0001104659-23-039221
- form_type: 8-K
- ticker: XWEL
- cik: 0001410428
- company_name: XWELL, Inc.
- filed_at: 2023-03-30T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1410428/000110465923039221/0001104659-23-039221-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1410428/000110465923039221/tm2311046d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-039221
- JSON: https://secwatch.observer/filing/0001104659-23-039221.json
- Plain text: https://secwatch.observer/filing/0001104659-23-039221.txt

## Key facts
- Earnings Releases
  XWELL, Inc. reported fiscal year ended December 31, 2022 results: revenue to total approximately $56 million.
  - Period: fiscal year ended December 31, 2022
  - Revenue: to total approximately $56 million
  - Result: preliminary results
  source text: The Company also announced preliminary unaudited financial results for the fiscal year ended December 31, 2022. Selected Preliminary Fiscal Year 2022 Financial Update · Fiscal year 2022 total revenue is projected to total approximately $56 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410428/000110465923039221/0001104659-23-039221-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.