XWELL reports FY2023 revenue drop to $30.1M, net loss $28.0M; restates Q3 2023 results

XWELL, Inc.

2024-Q1 EPS reported -$0.60 revenue$8,726,000

FY2023 total revenue $30.1M (down 46% from $55.9M in 2022); operating loss $28.2M, net loss $28.0M.
Non-cash impairment charges of $8.9M; restated Q3 2023 to correct $1.6M understatement of Treat segment impairment.
XpresSpa revenue grew 39% YoY to $19.5M; plans for Penn Station location and Naples Wax Center expansion to ~10 locations by early 2025.
CDC biosurveillance program expanded to $36.7M funding; new collection sites at MIA and ORD.
Cash and marketable securities totaled $23.0M at Dec 31, 2023; no long-term debt.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

XWELL, Inc. reported financial results for fiscal year ended December 31, 2023.

Period: fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On April 16, 2024, XWELL, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal year ended December 31, 2023, and provided a corporate update.

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Source: SEC EDGAR

accession 0001104659-24-047806

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