XWELL Q1 revenue $7.1M, down 70% YoY; net loss widens to $5.5M

XWELL, Inc.

2023-Q1 EPS reported -$0.07 vs consensus -$2.65 ▲ beat (+97.4%)

Total revenue $7.1M vs $24.0M in Q1 2022; XpresSpa revenue up >70% YoY but testing revenue ended.
Net loss attributable to common shareholders $5.5M vs $4.3M loss YoY; loss from operations $6.3M.
Cash and marketable securities $35.1M; no long-term debt; net working capital $30.8M.
New CFO Valerie Lightfoot appointed effective June 12, 2023; plans to open XpresSpa in Philadelphia and Abu Dhabi.
Biosurveillance partnership with Ginkgo expanded to include influenza monitoring; 9 stations operating.

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 0.95

XWELL, Inc. reported financial results for the first quarter ended March 31, 2023.

Period: the first quarter ended March 31, 2023
Result: reported results

Exact text from the filing

Attached hereto as Exhibit 99.1 is a copy of a press release of XWELL, Inc., dated May 15, 2023, announcing certain operating results for the fiscal quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001104659-23-060853

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