XWELL reports FY 2025 revenue of $29.2M, net loss $17.0M; $31.3M private placement in Feb 2026

XWELL, Inc.

Revenue $29.2M: XpresSpa $18.6M, XpresCheck $8.3M, Naples Wax Center $2.3M.
Operating loss $15.7M vs $16.7M prior year; net loss attributable to XWELL $17.0M vs $16.9M.
Cost of sales down 13% YoY; G&A down 20%; total operating expenses down 10%.
Opened new wellness location at NYC Penn Station in Dec 2025; expanded in Florida.
Feb 2026 private placement raised ~$31.3M; funds to repurchase notes and redeem Series G Preferred.

item 2.02 item 9.01

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