---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-060853"
form_type: "8-K"
ticker: "XWEL"
cik: "0001410428"
company_name: "XWELL, Inc."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:53:06.703974+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-060853
- form_type: 8-K
- ticker: XWEL
- cik: 0001410428
- company_name: XWELL, Inc.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1410428/000110465923060853/0001104659-23-060853-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1410428/000110465923060853/tm2315858d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-060853
- JSON: https://secwatch.observer/filing/0001104659-23-060853.json
- Plain text: https://secwatch.observer/filing/0001104659-23-060853.txt

## Key facts
- Earnings Releases
  XWELL, Inc. reported financial results for the first quarter ended March 31, 2023.
  - Period: the first quarter ended March 31, 2023
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410428/000110465923060853/0001104659-23-060853-index.htm

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