Announcement • May 16
XWELL, Inc. announced delayed 10-Q filing On 05/15/2026, XWELL, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 02
XWELL, Inc. announced delayed annual 10-K filing On 04/01/2026, XWELL, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. New Risk • Feb 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 65% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (65% average weekly change). Market cap is less than US$10m (US$2.18m market cap). Announcement • Feb 25
XWELL, Inc. announced that it expects to receive $31.333 million in funding XWELL, Inc. announces that it has entered into a securities purchase agreement with a series of American Ventures, LLC to issue 31,333 shares of Series H Convertible Preferred Stock at a price of $1,000 per share for gross proceeds of $31,333,000 and warrants to purchase up to 66,666,669 shares of the Company’s common stock for aggregate proceeds of $31,333,000 on February 24, 2026. The warrants issued in the private placement will be exercisable immediately at an exercise price of $0.345 per share and will expire three years from the date of issuance. The private placement was priced at the market under Nasdaq rules. The private placement is expected to close on or about February 26, 2026. The Warrants will expire three years from the date of issuance. New Risk • Jan 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$15m free cash flow). Market cap is less than US$10m (US$2.47m market cap). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Jan 09
Xwell, Inc. Appoints Cindy Friedman as Senior Advisor XWELL, Inc. announced that to support this next phase of growth, XWELL announced that Cindy Friedman, M.D., former CDC senior advisor and the founding director of CDCs Traveler-based Genomic Surveillance (TGS) program, will serve as a senior advisor to the Company. In this role, Dr. Friedman will provide strategic guidance on the design and adaptation of traveler-based surveillance approaches for select international biosecurity initiatives. Dr. Cindy Friedman is an infectious disease physician and public health leader with more than 30 years of experience building and scaling disease surveillance programs. She was the architect of CDCs Traveler-based Genomic Surveillance (TGS) program, a landmark initiative designed to monitor emerging pathogens at international points of entry. Announcement • Dec 06
XWELL, Inc. Receives Non-Compliance Notice from Nasdaq On December 1, 2025, XWELL, Inc. (the “Company”) received a letter from the Listing Qualifications Department of the Nasdaq Stock Market indicating that, based upon the closing bid price of the Company’s common stock for the 30 consecutive business days between October 17, 2025, to November 28, 2025, the Company did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market (“Nasdaq”) pursuant to Nasdaq Listing Rule 5550(a)(2). The letter also indicated that the Company will be provided with a compliance period of 180 calendar days, or until June 1, 2026 (the “Compliance Period”), in which to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A). In order to regain compliance with Nasdaq’s minimum bid price requirement, the Company’s common stock must maintain a minimum closing bid price of $1.00 for at least ten consecutive business days during the Compliance Period. In the event the Company does not regain compliance by the end of the Compliance Period, the Company may be eligible for additional time to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for the market value of its publicly held shares and all other initial listing standards for Nasdaq Capital, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split if necessary. If the Company meets these requirements, the Company may be granted an additional 180 calendar days to regain compliance. However, if it appears to Nasdaq that the Company will be unable to cure the deficiency, or if the Company is not otherwise eligible for the additional cure period, Nasdaq will provide notice that the Company’s common stock will be subject to delisting. There can be no assurance that the Company will be eligible for the additional 180 calendar day compliance period, if applicable, or that the Nasdaq staff would grant the Company’s request for continued listing subsequent to any delisting notification. In the event of such a notification, the Company may appeal the Nasdaq staff’s determination to delist its securities. The letter has no immediate impact on the listing of the Company’s common stock, which will continue to be listed and traded on Nasdaq, subject to the Company’s compliance with the other listing requirements of Nasdaq. Reported Earnings • Nov 17
Third quarter 2025 earnings released: US$0.13 loss per share (vs US$0.99 loss in 3Q 2024) Third quarter 2025 results: US$0.13 loss per share (improved from US$0.99 loss in 3Q 2024). Revenue: US$7.35m (down 13% from 3Q 2024). Net loss: US$724.0k (loss narrowed 85% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 54% per year, which means it is significantly lagging earnings. Announcement • Nov 11
XWELL, Inc., Annual General Meeting, Dec 18, 2025 XWELL, Inc., Annual General Meeting, Dec 18, 2025. Announcement • Nov 08
XWELL and Ostrichpillow Launch Exclusive Co-Branded Eye Mask XWELL announced they are teaming up with Ostrichpillow to launch a co-branded, limited-edition Eye Mask in XWELL's Blue Breeze colorway. Built for function and a touch of everyday luxury, this exclusive collab celebrates both brands' shared mission to make wellness feel effortless, no matter where land. Designed with travelers in mind, it combines an advanced ergonomic shape to block out the world (and that cabin light) and soft-touch premium fabric that supports deeper rest on the go. Each mask delivers a premium unboxing experience - because taking care of yourself should always feel this good. The Blue Breeze Eye Mask is exclusively available at XpresSpa and XWELL locations across major United States and international airports. Reported Earnings • Aug 17
Second quarter 2025 earnings released: US$0.42 loss per share (vs US$0.48 loss in 2Q 2024) Second quarter 2025 results: US$0.42 loss per share. Revenue: US$7.69m (down 17% from 2Q 2024). Net loss: US$2.27m (loss widened 14% from 2Q 2024). Announcement • Aug 14
XWELL, Inc. to Report Q2, 2025 Results on Aug 14, 2025 XWELL, Inc. announced that they will report Q2, 2025 results After-Market on Aug 14, 2025 Announcement • Jul 31
XWELL, Inc., Annual General Meeting, Sep 16, 2025 XWELL, Inc., Annual General Meeting, Sep 16, 2025. Announcement • May 20
XWELL, Inc. Receives A Letter from the Listing Qualifications Department of the Nasdaq Stock Market Regarding Minimum Bid Price Requirement On May 13, 2025, XWELL, Inc. (the Company") received a letter from the Listing Qualifications Department of the Nasdaq Stock Market indicating that, based upon the closing bid price of the Company's common stock for the 30 consecutive business days between March 31, 2025, to May 12, 2025, the Company did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market (Nasdaq") pursuant to Nasdaq Listing Rule 5550(a)(2). The letter also indicated that the Company will be provided with a compliance period of 180 calendar days, or until November 10, 2025 (the Compliance Period"), in which to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A). In order to regain compliance with Nasdaq's minimum bid price requirement, the Company's common stock must maintain a minimum closing bid price of $1.00 for at least ten consecutive business days during the Compliance Period. In the event the Company does not regain compliance by the end of the Compliance Period, the Company may be eligible for additional time to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for the market value of its publicly held shares and all other initial listing standards for Nasdaq Capital, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split if necessary. If the Company meets these requirements, the Company may be granted an additional 180 calendar days to regain compliance. However, if it appears to Nasdaq that the Company will be unable to cure the deficiency, or if the Company is not otherwise eligible for the additional cure period, Nasdaq will provide notice that the Company's common stock will be subject to delisting. There can be no assurance that the Company will be eligible for the additional 180 calendar day compliance period, if applicable, or that the Nasdaq staff would grant the Company's request for continued listing subsequent to any delisting notification. In the event of such a notification, the Company may appeal the Nasdaq staff's determination to delist its securities. The letter has no immediate impact on the listing of the Company's common stock, which will continue to be
listed and traded on Nasdaq, subject to the Company's compliance with the other listing requirements of Nasdaq. Announcement • May 17
XWELL, Inc. announced delayed 10-Q filing On 05/16/2025, XWELL, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 01
XWELL, Inc. announced delayed annual 10-K filing On 03/31/2025, XWELL, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jan 15
XWELL, Inc. announced that it has received $4 million in funding XWELL, Inc. entered into a Securities Purchase Agreement on January 14, 2025. The company issued an aggregate of 4,000 shares of the Company’s newly-designated Series G Convertible Preferred Stock, with a par value of $0.01 per share and a stated value of $1,000 per share, initially convertible into up to 2,673,797 shares of the Company’s common stock, par value $0.01 per share at a conversion price of $1.496 per share, Series A warrants to acquire up to an aggregate of 2,673,797 shares of Common Stock at an exercise price of $1.496 per share, and Series B warrants to acquire up to an aggregate of 2,673,797 shares of Common Stock at an exercise price of $1.7952 per share for aggregate gross proceeds of $4,000,000. The Private Placement is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws. The closing of the Private Placement occurred on January 14, 2025 New Risk • Dec 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$6.79m market cap). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Reported Earnings • Nov 17
Third quarter 2024 earnings released: US$0.99 loss per share (vs US$2.38 loss in 3Q 2023) Third quarter 2024 results: US$0.99 loss per share (improved from US$2.38 loss in 3Q 2023). Revenue: US$8.42m (up 13% from 3Q 2023). Net loss: US$4.75m (loss narrowed 52% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has fallen by 62% per year, which means it is performing significantly worse than earnings. Announcement • Nov 13
XWELL, Inc. to Report Q3, 2024 Results on Nov 14, 2024 XWELL, Inc. announced that they will report Q3, 2024 results After-Market on Nov 14, 2024 Announcement • Aug 22
XWELL, Inc., Annual General Meeting, Sep 20, 2024 XWELL, Inc., Annual General Meeting, Sep 20, 2024. Reported Earnings • Aug 16
Second quarter 2024 earnings released: US$0.48 loss per share (vs US$1.37 loss in 2Q 2023) Second quarter 2024 results: US$0.48 loss per share (improved from US$1.37 loss in 2Q 2023). Revenue: US$9.28m (up 14% from 2Q 2023). Net loss: US$2.00m (loss narrowed 65% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has fallen by 60% per year, which means it is performing significantly worse than earnings. New Risk • Aug 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Market cap is less than US$10m (US$9.51m market cap). Minor Risk Shareholders have been diluted in the past year (26% increase in shares outstanding). Announcement • Aug 09
XWELL, Inc. has completed a Follow-on Equity Offering in the amount of $1.422897 million. XWELL, Inc. has completed a Follow-on Equity Offering in the amount of $1.422897 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 652,705
Price\Range: $2.18
Transaction Features: Registered Direct Offering New Risk • Aug 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (US$7.78m market cap). Announcement • Aug 06
XWELL, Inc. has filed a Follow-on Equity Offering in the amount of $1.422897 million. XWELL, Inc. has filed a Follow-on Equity Offering in the amount of $1.422897 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 652,705
Price\Range: $2.18
Transaction Features: Registered Direct Offering Announcement • Jul 25
CPC Pain & Wellness SPV Files Complaint in the Delaware Court of Chancery Against XWELL On July 22, 2024, CPC Pain & Wellness SPV LLC announced that on June 17, 2024, it has sent a notice of intent to nominate Daniel Serpico, Chad J. Cooper, Matthew Thelen and Jerry J. Rosenstock for election to the Board at the XWELL Inc’s upcoming annual meeting of stockholders. CPC Pain & Wellness SPV mentioned that on July 19, 2024, it has filed a verified complaint in the Delaware Court of Chancery against the Company, alleging among other things, claims for breach of fiduciary duties by the entrenched directors Bruce T. Bernstein, Michael Lebowitz, Robert Weinstein, Gaëlle Wizenberg, Scott R. Milford and unlawful, unenforceable and/or inequitable application of the Company’s Bylaws by the entrenched directors to reject the initial notice and second notice. CPC Pain & Wellness SPV stated that the Delaware Action requests, among other things, that the Delaware Court of Chancery (i) declare that the Nominees have been properly nominated for election to the Board at the Annual Meeting, (ii) declare that the Nominees can stand for election notwithstanding the rejection of the initial notice and second notice, (iii) order the Company and entrenched directors to accept the Second Notice as valid and include the Nominees on the Company’s universal proxy card that the Company will issue in connection with the Annual Meeting, and (iv) if necessary, preliminarily enjoin the Annual Meeting so that it occurs after the CPC Pain & Wellness SPV has the opportunity to file its own Schedule 14A and to distribute it to the Company’s stockholders for their consideration. Announcement • Jun 18
CPC Pain & Wellness SPV Engages in Discussions with XWELL On June 17, 2024, CPC Pain & Wellness SPV, LLC announced that it is concerned with XWELL, Inc.’s long-term underperformance and believe shareholder representation on the Board of Directors of the Company and a change in the composition of the Board is necessary to drive significant improvements to the Company’s governance, capital allocation and operations, and to explore strategic alternatives. CPC Pain & Wellness SPV expressed its view that there are significant growth opportunities at the Company and remains available and ready to engage directly with the Board and management to discuss such opportunities. Announcement • Jun 06
XWELL, Inc. Introduces New Esthetic Facial Services to Naples Wax Center Locations XWELL, Inc. announced the introduction of elevated esthetic facial services at Naples Wax Center location in Naples, FL. The new offerings include a Microderm Infusion Facial, LightStim Invigorating Light Facial and Classic Refreshing Facial. These advanced services will also be available at all new Naples Wax Center locations currently in development, further enhancing XWELL’s commitment to offering premier skincare treatments. The new offerings include a Microderm Infusion Facial that employs the DiamondGlow 3-in-1 technology to exfoliate, extract debris and infuse advanced serums into the skin when pores are most receptive. This noninvasive skin resurfacing treatment results in radiant, rejuvenated and healthy-looking skin. The LightStim Invigorating Light Facial utilizes the power of LED light therapy to achieve a youthful appearance, targeting facial wrinkles through the use of Amber, Light Red and Dark Red wavelengths that work together to diminish redness, rejuvenate the skin, improve skin tone and reduce fine lines and wrinkles. For skin concerns such as congestion, lack of radiance, sensitivity, fine lines and loss of firmness, the Classic Refreshing Facial provides deep pore cleansing, exfoliation and extractions in the form of a deeply relaxing treatment that is suitable for all skin types. Additionally, Naples Wax Center is introducing curated retail product lines that align with new service offerings, including SkinMedica and PCA Skin. SkinMedica, known for its advanced formulations and clinically tested ingredients, offers a range of products designed to improve the overall health and appearance of the skin. The implementation of these new offerings at Naples Wax Center locations aligns with XWELL’s focus on accelerating out-of-airport portfolio growth, while complementing the series of tech-forward initiatives across the XWELL portfolio. This includes the recent Ceragem V6 Therapeutic Thermal Massager in select XpresSpa locations and pilot integration of Revitalize's IV hydration drip therapies in Miami International Airport (MIA). Announcement • May 24
XWELL, Inc. Plans to Introduce the Ceragem V6 Therapeutic Thermal Massager in Select Xpresspa Locations XWELL, Inc. announced plans to introduce the Ceragem V6 Therapeutic Thermal Massager in select XpresSpa locations beginning in the second quarter of 2024. The fully autonomous and innovative massage solution is designed to rejuvenate and revolutionize relaxation by providing enhanced blood circulation, muscle and joint discomfort, as well as muscle relaxation. In the coming months, XpresSpa will begin offering the Ceragem Therapeutic Thermal Massager, Ceragem V6, premium therapeutic massage technology within multiple XpresSpa locations in the United States. This innovative device combines touchless massage, compression, and heat therapy to provide users with a blissful experience of relaxation and relief. Cleared by the FDA as a Class II medical device, the Ceragem V6 offers various service options of 20, 40, and 60 minutes. The Ceragem V6 is currently set to launch May 22, 2024 in Salt Lake City International Airport (SLC) with launches in Philadelphia International Airport (PHL) and Orlando International Airport (MCO) soon after. These offerings complement a series tech-forward initiatives across the XWELL portfolio, including the recent pilot integration of Revitalize's IV hydration drip therapies in Miami International Airport (MIA) XpresSpa and the successful introduction of Clockwork MiNiCURE robotic manicures at Harry Reid International Airport (LAS) XpresSpa. These strategic initiatives demonstrate XWELL's pursuit of cost-effective revenue growth, solidifying its position as a leader in travel wellness. Announcement • May 03
XWELL, Inc. Introduces IV Hydration Drip Therapy at Miami International Airport XWELL, Inc. announced the introduction of IV hydration drip therapy at its Miami International Airport (MIA) XpresSpa®? location. In partnership with Revitalize IV Lounge ("Revitalize"), the new service, which offers a fast and efficient way to deliver vitamins, minerals, and amino acids directly into the bloodstream, is available in MIA's North Terminal, Concourse D, Gate D-11. IV hydration drip therapy ensures rapid absorption and replenishment of fluids and helps to boost energy levels,aid in recovery from jet lag, and enhance recovery from illness or strenuous activity. The XpresSpa location in Miami currently offers four IV hydration drip therapy options to its customers: Jet Lag Xpress: A blend of trace minerals and B-complex vitamins help regulate circadian rhythm sleeping patterns, boost mental performance, and help travelers stay sharp and focused. Myer's Cocktail: The perfect blend of multivit vitamins and hydration, it helps alleviate chronic symptoms like inflammation, muscle pain, fatigue, and stress. Ultimate Xpress: This potent vitamin blend enhances the immune system, detoxifies the body, increases energy levels, and restores hydration. Xpress Recovery: Get instant hangover relief with a high dose of vitamins and minerals that help hydrate the body and replenish electrolytes. XpresSpa's IV hydration drip therapies can be administered in as little as 20 minutes with prices starting at $220 per session. The introduction of Revitalize's IV hydration drip therapies in Miami underscores recent growth across the XWELL portfolio including the launch of Clockwork MiNiCURE robotic manicures at Harry Reid International Airport in Las Vegas (LAS), Miami International Airport (MIA). John F. Kennedy International Airport (JFK), the introduction of Stretch services, and the expansion of fully autonomous massage chairs by HydroMassage and Human Touch®?. XWELL also recently opened an XpresSpa location in Abu Dhabi and announced plans to open a tech-forward, labor-lite location in New York City's Penn Station. Announcement • Apr 17
XWELL, Inc. to Report Fiscal Year 2023 Results on Apr 16, 2024 XWELL, Inc. announced that they will report fiscal year 2023 results at 4:00 PM, US Eastern Standard Time on Apr 16, 2024 Announcement • Apr 13
XWELL, Inc. announced delayed amended 10-K filing On 04/12/2024, XWELL, Inc. announced that they will be unable to file their amended 10-K by the deadline required by the SEC. Announcement • Apr 03
XWELL, Inc. announced delayed annual 10-K filing On 04/02/2024, XWELL, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Feb 02
XWELL, Inc. Elects Gaëlle S. Wizenberg as Member of the Audit Committee and the Compensation Committee XWELL, Inc. announced that on January 30, 2024, the Board of Directors appointed Ms. Gaëlle S. Wizenberg as a member of the Audit Committee and the Compensation Committee, effective on January 1, 2024. Announcement • Dec 16
XWELL, Inc. Announces Board Changes, Effective January 1, 2024 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. His decision to resign was not as a result of any disagreement with the Company or its management. On December 13, 2023, the Board also 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. Ms. Wizenberg was appointed to the Board of Directors pursuant to the power provided to the Board of Directors by the Company’s Bylaws, and her appointment will be effective on January 1, 2024, immediately following Mr. Stout’s resignation. Ms. Wizenberg is expected to stand for election by the Company’s stockholders at the 2024 Annual Meeting of Stockholders/Shareholders. The Board has not yet determined Ms. Wizenberg’s committee assignments. Galle Wizenberg has over 25 years of progressive leadership experience building, scaling, and transforming brands in the retail and wellness industries. Notably, she founded global baby brand Charlie Banana in 2009 and expanded its distribution network to 66 countries internationally before its acquisition by Procter &Gamble a decade later. Further, Galles role as Vice President of Sales at Apptastic Software Inc. saw her driving significant growth within the toy and juvenile consumer company. Most recently, Galle founded Objects of Magic, a wellness-focused enterprise specializing in corporate team-building and holistic retreats as well as retail wellness boutiques. Announcement • Dec 12
XWELL, Inc. Introduces Clockwork Robotic Manicures At Harry Reid International Airport in Las Vegas XWELL, Inc. launched the use of Clockwork’s next-generation, fully- autonomous, AI-powered express manicure in the XpresSpa® location at Harry Reid International Airport (LAS) in Las Vegas, Nevada. Las Vegas is the third XpresSpa location to welcome robotic manicures, following the recent successful launches at John F. Kennedy International Airport (JFK) and Miami International Airport (MIA). The new offering will be available for an introductory discounted rate of $17 at the XpresSpa in Terminal 1, A/B Gates, Level 2 in LAS. The Clockwork MiNiCURE is an express manicure service that delivers high-quality polish through automation. Its latest version features a fully autonomous robot that uses proprietary artificial intelligence with 3D technology to paint nails effectively within minutes. An easy-to-use touchscreen guides travelers through the Clockwork experience, with an intuitive live support feature available any time help is needed. Additionally, the Clockwork MiNiCURE experience includes automated nail polish removal as well as a free polish remover pot to take home. The introduction of the Clockwork MiNiCURE in Las Vegas represents a continued expansion of XpresSpa’s lineup of innovative products and services, including fully autonomous massage chairs by HydroMassage and Human Touch® and Stretch services. XWELL will continue to bring quality treatments to its wellness centers worldwide, including to its recent expansion in Abu Dhabi. Reported Earnings • Nov 17
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$2.38 loss per share (further deteriorated from US$1.52 loss in 3Q 2022). Revenue: US$7.47m (down 30% from 3Q 2022). Net loss: US$9.92m (loss widened 38% from 3Q 2022). Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 197%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Consumer Services industry in the US. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 61% per year, which means it is significantly lagging earnings. Announcement • Nov 17
XWELL, Inc. Reports Impairment Charges for the Third Quarter Ended September 30, 2023 XWELL, Inc. reported impairment charges for the third quarter ended September 30, 2023. For the quarter, the company reported non-cash goodwill and intangible asset impairment charges totaling approximately $6.8 million. Announcement • Sep 28
XWELL, Inc. Announces 1-for-20 Reverse Stock Split to Regain Compliance with Minimum Bid Price Requirement for Continued Listing on The Nasdaq Capital Market XWELL, Inc. announced that it will effect a 1-for-20 reverse stock split of its common stock effective at 5:00 pm Eastern Time on September 27, 2023. Shares of the company’s common stock are expected to begin trading on a split-adjusted basis when markets open on September 28, 2023. Following approval by the company’s stockholders of an amendment to the company’s amended and restated certificate of incorporation to effect a reverse stock split of its common stock and authorizing the company board of directors to determine the ratio (within a range of 1-for-8 to 1-for-20) and the effective date of the reverse stock split, the company’s Board of Directors determined the 1-for-20 ratio to be appropriate to meet the company’s goal to raise the per share trading price of the company’s common stock to regain compliance with the $1.00 per share minimum bid price requirement for continued listing on The Nasdaq Capital Market, as well as improving the marketability and liquidity of its common stock and minimizing the risk of future noncompliance. However, there can be no assurance this desired effect will occur or be maintained. The reverse stock split will reduce the number of shares of the company’s common stock currently outstanding from approximately 83.5 million shares to approximately 4.17 million shares. Proportionate adjustments will be made to the number of shares to be issued under the company’s Equity Incentive Plan. Announcement • Sep 13
XWELL, Inc. (NasdaqCM:XWEL) acquired Naples Wax Center, Inc. XWELL, Inc. (NasdaqCM:XWEL) acquired Naples Wax Center, Inc. on September 12, 2023. The transaction was valued at $1.5 million. As part of this acquisition, XWELL plans to retain the existing staff of Naples Wax Center and will be deploying training and development to ensure a seamless transition and the continued delivery of exceptional services. Brandon Stewart, a founder and managing partner at Naples Wax Center will lead as Director of Development and will continue to oversee the operations of Naples Wax Center.
XWELL, Inc. (NasdaqCM:XWEL) acquired Naples Wax Center, Inc. on September 12, 2023. Reported Earnings • Aug 15
Second quarter 2023 earnings: Revenues and EPS in line with analyst expectations Second quarter 2023 results: US$0.069 loss per share (improved from US$0.083 loss in 2Q 2022). Revenue: US$8.18m (down 40% from 2Q 2022). Net loss: US$5.73m (loss narrowed 28% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has fallen by 61% per year, which means it is significantly lagging earnings. Announcement • Aug 08
XWELL, Inc. to Report Q2, 2023 Results on Aug 14, 2023 XWELL, Inc. announced that they will report Q2, 2023 results After-Market on Aug 14, 2023 Announcement • Jul 25
XWELL, Inc., Annual General Meeting, Aug 22, 2023 XWELL, Inc., Annual General Meeting, Aug 22, 2023, at 11:00 US Eastern Standard Time. Agenda: To elect Scott R. Milford, Bruce T. Bernstein, Robert Weinstein, Donald E. Stout and Michael Lebowitz to Board of Directors; to ratify the selection of Marcum LLP as independent registered public accounting firm for the fiscal year ending December 31, 2023; to approve a proposed amendment to the XWELL, Inc. Amended and Restated Certificate of Incorporation to effect a reverse stock split of issued and outstanding shares of common stock, at a ratio of between 1-for-8 and 1-for-20; to approve, by an advisory vote, the compensation of named executive officers, as disclosed in the accompanying proxy statement; and to consider other matters. Announcement • Jul 23
Xpresspa Debuts Clockwork Robotic Manicures At Miami International Airport XWELL, Inc. in partnership with Clockwork launched the use of Clockwork's next generation, fully autonomous, AI-powered express manicure in the XpresSpa®? location at Miami International Airport (MIA) in Miami, Florida. MIA's North Terminal, Concourse D is the second airport location in the world to feature robot manicures following the debut at John F. Kennedy International Airport's Terminal 4 in March 2023. The Clockwork MiNiCURE is an express manicure service that delivers high-quality polish color through automation. Its latest version features a fully autonomous robot that uses proprietary artificial intelligence with 3D technology to paint nails effectively within minutes. An easy-to-use touchscreen guides travelers through the Clockwork experience, with an intuitive live support feature available any time help is needed. Additionally, the Clockwork MiNiCURE experience includes automated nail polish removal as well as a free polish removal pot to take home. XWELL will launch up to five of Clockwork's AI-powered robots during the initial launch phase with the intent to deploy as many as 34 units across the company's portfolio of 34 spa locations. New Risk • Jul 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$35m free cash flow). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$25.9m market cap). Announcement • Jun 29
XWELL, Inc. Announces Executive Changes, Effective July 10, 2023 On June 28, 2023, XWELL, Inc. announced that Suzanne A. Scrabis has been appointed the chief financial officer of the company, effective July 10, 2023. Ms. Scrabis, 53, moved into a Program Manager, Technology Platforms role for Rockwell Automation in 2020 after serving as Chief Financial Officer for MAVERICK Technologies Holdings, LLC, a privately held independent systems integrator based in Columbia, Illinois from 2006 to December, 2019. As CFO, she helped lead the acquisition of Maverick Technologies by Rockwell Automation based in Milwaukee, Wisconsin. Before that, she served as the Director of Operations at MAVERICK from 2003 to 2006. Ms. Scrabis also served from 2001 to 2003 as the Director of Logics for Aurora Foods, a packaged foods manufacturing company that was subsequently acquired by Pinnacle Foods in 2004. Prior to that she served at Ernst & Young as a senior asset manager for the Pacific and New York Metro regions from 1996-2001. Ms. Scrabis holds a Bachelor of Science in Operations Management and Marketing from California State University Long Beach. 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. Announcement • May 12
XWELL, Inc. to Report Q1, 2023 Results on May 15, 2023 XWELL, Inc. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on May 15, 2023 Announcement • May 05
XWELL, Inc. Names Valerie Lightfoot Chief Financial Officer XWELL, Inc. announced that Valerie Lightfoot has been named Chief Financial Officer, effective June 12, 2023. Ms. Lightfoot joins XWELL with over 25 years of financial leadership experience. During her career, she has helped companies successfully execute organic growth initiatives, integrate acquisitions as well as implement process improvements and achieve improving cashflow. Ms. Lightfoot succeeds Omar Haynes, who has been diligently serving as Interim Chief Financial Officer since June 2022. Mr. Haynes will remain with the Company and resume his former role at Vice President, Finance and Treasury. Prior to joining XWELL, Ms. Lightfoot served as CFO for Green River Spirits—a leading manufacturer of spirit brands and home to one of Kentucky’s oldest whiskey distilleries, until it was acquired in 2022. Previously, as CFO for medical device supplier Belimed, she helped drive disciplined growth and favorable operating earnings. Prior, she had served as Director of Product Finance for Blackbaud, a leading cloud software company powering social good, and held several senior management roles for J Three Consulting, a CFO consulting and services firm. Prior, Ms. Lightfoot was CFO for not-for-profit Alliant Credit Union and spent five years at DX, a global provider of technology enabled business solutions and services. She began her professional career at Baxter International. Ms. Lightfoot holds an MBA in Management from Kellogg School of Management at Northwestern University and a BS in finance from the University of Colorado, Boulder. Major Estimate Revision • Apr 24
Consensus revenue estimates fall by 33% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$54.7m to US$36.5m. Forecast losses increased from -US$0.15 to -US$0.35 per share. Consumer Services industry in the US expected to see average net income growth of 31% next year. Consensus price target of US$1.00 unchanged from last update. Share price fell 14% to US$0.29 over the past week. Reported Earnings • Apr 18
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: US$0.35 loss per share (down from US$0.032 profit in FY 2021). Revenue: US$55.9m (down 24% from FY 2021). Net loss: US$32.8m (down US$36.2m from profit in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 25%. Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 05
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2022 has deteriorated. 2022 revenue forecast decreased from US$60.0m to US$56.0m. Losses expected to increase from US$0.25 per share to US$0.28. Consumer Services industry in the US expected to see average net income growth of 27% next year. Consensus price target down from US$1.50 to US$1.00. Share price fell 16% to US$0.30 over the past week. Major Estimate Revision • Nov 21
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$70.0m to US$60.0m. Forecast losses increased from -US$0.21 to -US$0.25 per share. Consumer Services industry in the US expected to see average net income decline 5.7% next year. Consensus price target down from US$2.00 to US$1.50. Share price fell 21% to US$0.43 over the past week. Price Target Changed • Nov 16
Price target decreased to US$2.00 Down from US$4.00, the current price target is provided by 1 analyst. New target price is 300% above last closing price of US$0.50. Stock is down 66% over the past year. The company is forecast to post a net loss per share of US$0.21 compared to earnings per share of US$0.032 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: US$0.076 loss per share (vs US$0.053 profit in 3Q 2021) Third quarter 2022 results: US$0.076 loss per share (down from US$0.053 profit in 3Q 2021). Revenue: US$10.7m (down 60% from 3Q 2021). Net loss: US$7.18m (down 228% from profit in 3Q 2021). Revenue is expected to decline by 3.1% p.a. on average during the next 2 years, while revenues in the Consumer Services industry in the US are expected to grow by 8.3%. Over the last 3 years on average, earnings per share has increased by 134% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 13
Price target decreased to US$2.00 Down from US$4.00, the current price target is provided by 1 analyst. New target price is 265% above last closing price of US$0.55. Stock is down 60% over the past year. The company is forecast to post a net loss per share of US$0.21 compared to earnings per share of US$0.032 last year. Major Estimate Revision • May 23
Consensus revenue estimates fall by 36% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$117.0m to US$75.2m. Forecast loss of -US$0.19, down from profit of US$0.07 per share profit previously. Consumer Services industry in the US expected to see average net income growth of 33% next year. Consensus price target down from US$4.00 to US$2.00. Share price fell 19% to US$0.73 over the past week. Reported Earnings • May 17
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: US$0.042 loss per share (down from US$0.01 loss in 1Q 2021). Revenue: US$24.0m (up 183% from 1Q 2021). Net loss: US$4.28m (loss widened 306% from 1Q 2021). Revenue exceeded analyst estimates by 24%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Over the next year, revenue is forecast to grow 37%, compared to a 7.8% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to US$4.00 Up from US$3.50, the current price target is provided by 1 analyst. New target price is 309% above last closing price of US$0.98. Stock is down 31% over the past year. The company is forecast to post earnings per share of US$0.07 for next year compared to US$0.032 last year. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 48% share price gain to US$1.46, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Consumer Services industry in the US. Total loss to shareholders of 83% over the past three years. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: US$0.032 (up from US$2.05 loss in FY 2020). Revenue: US$73.7m (up US$65.3m from FY 2020). Net income: US$3.35m (up US$94.8m from FY 2020). Profit margin: 4.5% (up from net loss in FY 2020). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 50%. Over the next year, revenue is forecast to grow 59%, compared to a 10% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Dec 26
Independent Chairman of the Board recently bought US$64k worth of stock On the 17th of December, Bruce Bernstein bought around 38k shares on-market at roughly US$1.70 per share. This was the largest purchase by an insider in the last 3 months. Bruce has been a buyer over the last 12 months, purchasing a net total of US$217k worth in shares. Breakeven Date Change • Nov 19
Forecast to breakeven in 2022 The analyst covering XpresSpa Group expects the company to break even for the first time. New forecast suggests the company will make a profit of US$22.3m in 2022. Average annual earnings growth of 219% is required to achieve expected profit on schedule. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS US$0.053 (vs US$0.10 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$26.8m (up US$26.6m from 3Q 2020). Net income: US$5.60m (up US$11.7m from 3Q 2020). Profit margin: 21% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Aug 22
Independent Chairman of the Board recently bought US$153k worth of stock On the 19th of August, Bruce Bernstein bought around 108k shares on-market at roughly US$1.43 per share. This was the largest purchase by an insider in the last 3 months. This was Bruce's only on-market trade for the last 12 months. 