secwatch.observer — SEC 8-K summary
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Issuer:     XWELL, Inc. (XWEL)
CIK:        0001410428
Form:       8-K
Filed at:   2023-04-17T23:59:59+00:00
Accession:  0001104659-23-046207
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XWELL reports FY2022 net loss of $32.8M vs net income of $3.3M prior year; revenue down 24% to $55.9M
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- Total revenue $55.9M in FY2022, down from $73.7M in FY2021; net loss attributable to common shareholders $32.8M vs net income $3.3M.
- Loss from operations $31.2M vs income $4.1M; cost of sales up to $43.9M from $41.4M; G&A expenses $31.2M vs $24.2M.
- Repurchased ~19.5M shares for $23.8M; 0.8M shares remain under existing buyback program.
- Opened 5 XpresSpa at Istanbul Airport; plans Abu Dhabi opening in Q3 2023 and new spa at Philadelphia Airport in 2023.
- Expanded CDC biosurveillance partnership with Ginkgo Bioworks to include influenza monitoring; closed underperforming XpresCheck and Treat locations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1410428/000110465923046207/0001104659-23-046207-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1410428/000110465923046207/tm2313030d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-046207

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