0001104659-26-038550
SEC filingXWELL, Inc. announced fiscal 2025 financial results with $29.2 million revenue, reduced operating expenses, and a subsequent $31.3 million private placement for debt reduction and working capital.
XWELL reported fiscal 2025 revenue of $29.2 million, segmented as $18.6 million from XpresSpa, $8.3 million from XpresCheck biosecurity services, and $2.3 million from Naples Wax Center, reflecting diversification across wellness retail and clinical offerings. Cost of sales declined 13% to $21.7 million, driven by operational efficiencies, while total operating expenses fell 10% to $23.2 million, with general and administrative costs down 20% year-over-year, contributing to a narrower operating loss of $15.7 million versus $16.7 million in 2024. Net loss attributable to XWELL was $17.0 million, slightly wider than the prior year's $16.9 million. Balance sheet showed $2.6 million in cash and equivalents and $5.9 million in total current assets as of December 31, 2025, with no long-term debt. Post-year-end, a February 2026 private placement with American Ventures, LLC generated $31.3 million in gross proceeds, priced at-the-market, intended for repurchasing notes, redeeming Series G Preferred Stock and warrants, and general corporate purposes. Operationally, XWELL expanded with a new Penn Station wellness retail location in December 2025 offering autonomous massage and nail services, plus Florida centers in Q3 2025, and secured a three-year CDC TGS program extension in March 2025. A strategic PieQ partnership in February 2026 targets a U.S. biosecurity forecasting platform. CEO Ezra Ernst highlighted execution on non-airport expansion and CDC ties for long-term value creation. The press release contains forward-looking statements subject to risks outlined in SEC filings.