Highest-materiality recent filing
XWELL agrees to sell XpresSpa and XpresTest for $13M, pivots to national security
Base purchase price of $13M, subject to customary adjustments; $2.65M placed in escrow.
XWELL reports FY 2025 revenue of $29.2M, net loss $17.0M; $31.3M private placement in Feb 2026
Revenue $29.2M: XpresSpa $18.6M, XpresCheck $8.3M, Naples Wax Center $2.3M.
XWELL closes $31.3M private placement of Series H preferred and warrants; repurchases $9M notes
Aggregate gross proceeds of $31,333,000 from issuance of 31,333 Series H convertible preferred (conversion price $0.47) and warrants to purchase 66,665,957 common shares (exercise price $0.345).
Gross proceeds ~$31.3M from sale of 31,333 Series H convertible preferred shares (convertible at $0.47/sh) and 66.7M warrants (exercise $0.345/sh, 3yr).
XWELL shareholders approve reverse split, share issuance; reject board classification
Proposal 6 passed: authorizes reverse stock split at ratio 1:2 to 1:20, at Board's discretion within one year.
XWELL receives Nasdaq bid price deficiency notice; cure period through June 2026
Closing bid price below $1.00 for 30 consecutive business days ended Nov 28, 2025.
XWELL exchanges $1.55M Series G Preferred for $3.39M convertible notes; amends terms
Exchanged $1,553,806 Stated Value of Series G Preferred Stock (including accrued dividends) for $3,387,138.80 senior secured convertible notes.
XWELL reports Q3 2025 revenue of $7.3M, net loss narrows to $0.7M
Revenue $7.3M in Q3 2025; net loss attributable to XWELL $0.7M vs $4.8M in Q3 2024.
XWELL exchanges $1.55M Series G Preferred for $3.39M secured notes; warrants amended
Exchanged $1,553,806 aggregate Stated Value of Series G Preferred Stock for $3,387,138.80 senior secured convertible notes.
XWELL Q2 2025 revenue $7.7M, net loss $2.3M widens YoY
Revenue $7.7M, down from $9.3M YoY; sequential improvement from Q1 2025's $7.0M.
XWELL regains Nasdaq minimum bid price compliance; delisting risk removed
Received Nasdaq letter confirming compliance with Listing Rule 5550(a)(2) as bid price closed at or above $1.00 for 16 consecutive days.
XWELL Q1 revenue falls to $7.0M; net loss $4.7M; CDC contract extended 3 years
Revenue $7.0M, down 19% from $8.7M YoY; net loss attributable $4.7M vs $2.5M.
XWELL (XWEL) receives Nasdaq minimum bid price deficiency notice; cure period to Nov 10, 2025
Nasdaq notified XWELL on May 13, 2025 that its common stock's closing bid price was below $1.00 for 30 consecutive business days (Mar 31 - May 12, 2025).
XWELL dismisses Marcum, engages CBIZ CPAs; cites material weaknesses
Dismissed Marcum LLP and engaged CBIZ CPAs as auditor for FY2025, effective April 21, 2025.
XWELL reports FY 2024 revenue $33.9M (+13% YoY), net loss narrows to $16.9M
Revenue $33.9M (+13% YoY); gross margin rose to 26.3% from 12.2%.
Share issuance for Jan 2025 Series G Preferred and warrant financing approved (For: 1,329,306; Against: 328,079) to comply with Nasdaq listing rule.
XWELL plans medical spa acquisitions; $4M private placement to fund expansion by year-end 2025
Plan to acquire select medical spas by end of 2025, leveraging a $4M private placement.
XWELL closes $4M private placement of Series G convertible preferred stock and warrants
Raised $4.0M gross proceeds via sale of 4,000 shares of Series G Convertible Preferred Stock (conversion price $1.496) and warrants to investors.
XWELL appoints Ian Brown as CFO effective Jan 6, 2025; Scrabis resigns
CFO Suzanne Scrabis resigns effective Jan 8, 2025; severance $11,538 bi-weekly for 6 months plus COBRA.
XWELL Q3 2024 revenue $8.4M (+13% YoY); operating loss narrows to $4.8M from $12.1M
Revenue of $8.4M for Q3 2024, up 13% from $7.5M in Q3 2023; YTD revenue up 16%.
XWELL appoints Ezra Ernst as CEO; Scott Milford resigns, to serve as consultant through year-end
Scott Milford stepped down as President and CEO effective Sept 4, 2024; will serve as consultant at $31,250/month through Dec 31, 2024, plus $425k severance.
XWELL adopts poison pill to protect ~$67.3M in net operating loss tax attributes
Board declared dividend of one preferred stock purchase right per common share, payable Aug 26, 2024.
XWELL Q2 2024 revenue up 14% to $9.3M; net loss narrows to $2.0M from $5.7M
Revenue $9.3M (vs $8.2M Q2 2023); operating loss improved to $1.9M from $4.7M.
Registered direct offering of 652,705 shares at $2.18/share, gross proceeds ~$1.4M; expected close Aug 8, 2024.
XWELL says CPC nomination notice invalid; calls for updated 13D filing
CPC Pain & Wellness SPV, formed by Caydan Capital, owns 9.42% stake and nominated four board candidates.
XWELL Q1 revenue up 24% to $8.7M; operating loss narrows 62% to $2.4M
Revenue $8.7M vs $7.1M YoY; XpresSpa/Treat $4.4M, XpresTest $3.6M, Naples Wax $0.6M.
XWELL reports FY2023 revenue drop to $30.1M, net loss $28.0M; restates Q3 2023 results
FY2023 total revenue $30.1M (down 46% from $55.9M in 2022); operating loss $28.2M, net loss $28.0M.
XWELL restates Q3 2023 financials on impairment accounting error; $1.6M understatement
Audit committee found GAAP misapplication in Treat segment impairment for Q3 2023.
XWELL expands CDC biosurveillance contract to $36.7M, adds Miami and Chicago airports
CDC contract value expanded from ~$15.9M (Aug 2023) to estimated $36.7M+ in March 2024 extension.
XWELL Q3 revenue $7.5M; airport spa revenue up 39% YoY; non-cash impairment $6.8M
Total revenue $7.5M, down from $10.7M in Q3 2022; XpresSpa revenue grew ~39% YoY to $5.0M.
XWELL enacts 1-for-20 reverse stock split effective Sept 27 to regain Nasdaq compliance
Reverse split reduces outstanding shares from approx 83.5M to 4.17M; effective 5pm ET Sept 27.
XWELL acquires Naples Wax Center for $1.5M, expands outside airport
Acquisition of Naples Wax Center, a group of 3 upscale waxing boutiques in Florida, for ~$1.5 million.
XWELL shareholders approve reverse stock split, reject advisory say-on-pay at 2023 annual meeting
Reverse stock split at ratio 1:8 to 1:20 approved (27.8M for, 17.1M against; 66.2% of votes cast).
Revenue $8.2M vs $13.6M in Q2 2022; XpresSpa revenue up 59% YoY.
Suzanne Scrabis, and effective as January 8, 2025 (the “Scrabis Separation Date”), in connection with Ms. Scrabis’s resignation as the Chief Financial Officer of the Company.
As of the Brown Effective Date, Mr. Brown shall serve as the Company’s Chief Financial Officer.
As of the Effective Date, Scott R. Milford’s employment as the Company’s President and Chief Executive Officer ceased
Mr. Milford has also resigned from the Board, as well as the Board of Directors of XpresTest, Inc., Treat, Inc. and GCG Connect LLC, effective as of September 21, 2024.
Effective as of September 21, 2024, Mr. Ernst shall also serve as a director of the Board
As of the Effective Date, Mr. Ernst shall serve as the Company’s President and Chief Executive Officer.
On December 13, 2023, the Board appointed Gaëlle S. Wizenberg as a member of the Board to fill the vacancy on the Board which will be created at the effective time of the resignation of Mr. Stout.
On December 13, 2023, Donald E. Stout, a member of the board of directors (the "Board") of XWELL, Inc. (the "Company"), tendered his resignation from his position as a director and as a member of the Company’s audit, compensation and nominating and corporate governance committees, to be effective January 1, 2024.
Suzanne A. Scrabis has been appointed the Chief Financial Officer of the Company, effective July 10, 2023.
Omar Haynes, who has been serving as Interim Chief Financial Officer of the Company since June 2022, will remain with the Company and resume his former role as Vice President of Treasury & Finance, effective July 10, 2023.
the employment of Valerie Lightfoot as the Company’s Chief Financial Officer did not commence on June 12, 2023, as previously announced.
Omar Haynes, who has been serving as Interim Chief Financial Officer of the Company since June 2022, will remain with the Company and resume his former role as Vice President of Treasury & Finance, effective June 12, 2023.
Max materiality 0.85 · Median 0.60 · Most common event other_material