CLEARWATER, Fla., July 16, 2025 (GLOBE NEWSWIRE) -- XWELL (Nasdaq: XWEL) (“XWELL” or the “Company”), a leader in wellness solutions for people on the go, is excited to announce the grand opening of its first brick-and-mortar location outside the airport, in Clearwater, Florida. Opening to the public on Friday, July 25, the new center invites locals and visitors to unwind with facials and expert-led skincare treatments—all in a calming, spa-like environment designed for total rejuvenation. You’re Invited: Ce ...

Core Insights - XWELL has been recognized as one of Yelp's "Most Loved Airport Brands," ranking 10 out of 25 based on traveler reviews, indicating strong brand loyalty among consumers [1][2] - The company is expanding its wellness services beyond airports with new locations in Clearwater, Florida, and New York's Penn Station, aiming to enhance accessibility to self-care solutions [2][3] - XWELL is forming strategic partnerships, including a multi-year collaboration with the Orlando Magic, to further extend its market reach and brand presence [4] Expansion Plans - The Clearwater location will feature a wellness center offering core treatments such as massage, skincare, and recovery in a modern retail setting [3] - The Penn Station location will serve as a convenient grab-and-go destination for wellness essentials, catering to busy commuters [3] Future Outlook - XWELL plans to continue its growth trajectory with additional location announcements and partnerships, focusing on equitable and scalable wellness access in both rural and metropolitan areas [5]

Core Insights - XWELL's Xpres Spa has been recognized as one of Yelp's "Most Loved Airport Brands," ranking 10 out of 25 based on millions of reviews from U.S. travelers [1] - The CEO of XWELL highlighted the growing demand for comfort and quality at airports, indicating that travelers are increasingly utilizing wellness services [2] Expansion Plans - XWELL will open its first out-of-airport locations in Clearwater, Florida, and New York's Penn Station this summer, aiming to enhance accessibility to premium self-care [2][3] - The Clearwater location will feature a wellness center offering core treatments such as massage, skincare, and recovery, while the Penn Station site will focus on grab-and-go wellness essentials for commuters [3] Strategic Partnerships - XWELL is expanding its reach through strategic partnerships, including a multi-year collaboration with the Orlando Magic, designating XWELL as the "Official Wellness Spa" of the NBA team [4] Future Outlook - The company plans to continue its growth momentum with additional location announcements and partnerships, focusing on equitable and scalable wellness access across various regions [5]

Core Insights - XWELL, Inc. has partnered with the Orlando Magic as the Official Wellness Spa, marking a strategic expansion into local markets, starting with Florida [1][2] - The partnership aims to enhance brand visibility and community engagement, promoting wellness beyond travel hubs [2][4] Group 1: Partnership Details - The collaboration includes brand integration across various platforms such as LED signage, radio promotions, and exclusive events [3] - XWELL will host co-branded wellness events featuring Magic alumni and entertainment teams, enhancing community interaction [3][5] - The partnership is expected to strengthen XWELL's customer acquisition efforts in Florida, focusing on expanding its medspa presence [4] Group 2: Strategic Goals - Florida is identified as a priority growth market for XWELL, with plans to increase brand awareness and establish connections with local consumers [2][4] - The partnership reflects a shared commitment to health and well-being for fans, players, and staff, aligning with both organizations' values [5] Group 3: Company Background - XWELL operates a portfolio of wellness brands, including Xpres Spa and Naples Wax Center, and aims to redefine the modern wellness experience [7] - The Orlando Magic, established in 1989, emphasizes community engagement and has contributed over $2 million annually to local initiatives [8][9]

Core Viewpoint - XWELL, Inc. has expanded its partnership with Priority Pass to offer a wider range of wellness services at U.S. airports, enhancing the travel experience for members seeking relaxation and rejuvenation [1][2]. Company Overview - XWELL, Inc. operates multiple wellness brands including Xpres Spa®, Naples Wax Center®, XpresCheck®, and HyperPointe™, focusing on providing wellness solutions for travelers [4][9]. - Priority Pass is a leading airport experiences program, granting access to over 1,600 airport lounges and travel experiences across 650 airports in 148 countries, enhancing the travel experience through partnerships with various brands [5][6]. Service Offerings - The expanded offerings for Priority Pass members include various wellness services at Xpres Spa locations, designed to reduce stress and support well-being during travel [2][3]. - Specific services available include Zero-Gravity Massage Chairs, HydroMassage, Relaxation Loungers, CERAGEM Therapeutic Massager, and Chakra Bed, each aimed at providing relaxation and physical recharge [8].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number: 001-34785 XWELL, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of ...

Financial Performance - XWELL reported a revenue growth of approximately 13% in 2024, totaling $33.9 million compared to $30.1 million in 2023[22] - Gross margin increased significantly from 12.2% in 2023 to 26.3% in 2024[3] - Total operating expenses were reduced by approximately 19% in 2024, amounting to $25.6 million compared to $31.9 million in the prior year[25] - The operating loss decreased to approximately $16.7 million in 2024 from approximately $28.2 million in 2023[26] - Net loss attributable to XWELL was approximately $16.9 million in 2024, down from approximately $27.7 million in the previous year[27] Strategic Initiatives - XWELL plans to acquire select medical spas in 2025, leveraging a recent $4 million private placement to expand into the wellness and beauty sector[9] - XWELL launched a new Naples Wax Center in Estero, Florida, marking the first of six planned openings across Florida in 2025[14] - The company aims to unify its wellness offerings under a single XWELL brand identity to enhance customer relationships and brand loyalty[6] Government Contracts - The CDC extended its Traveler-based Genomic Surveillance Program for three years, with a total base value of $53.7 million and a maximum ceiling value of $85.7 million[17] Financial Position - As of December 31, 2024, XWELL had approximately $4.6 million in cash and cash equivalents and no long-term debt[20]

Core Insights - XWELL, Inc. reported first quarter 2025 revenue of approximately $7.0 million, a decrease from $8.7 million in the same period of 2024, primarily due to lower revenues from XpresTest and XpresSpa, offset by new revenue from Priority Pass [9][14] - The company is focused on expanding its wellness offerings through a multi-brand strategy, including plans to acquire medical spas in metropolitan areas and enhance its airport wellness services [4][3] - XWELL secured a three-year extension of its Traveler-based Genomic Surveillance Program with the CDC, aimed at early detection of pathogens in major airport hubs [6][5] Operating Highlights - The company operates 28 XpresSpa locations across major airports, with upgrades to reflect a science-driven approach to wellness [8] - XWELL's revenue for the first quarter included approximately $4.3 million from XpresSpa, $2.2 million from XpresTest, and $552,000 from Naples Wax Center [15] - Total cost of sales decreased by approximately 6% year-over-year, while total operating expenses decreased by approximately 11% [9][19] Financial Condition - As of March 31, 2025, XWELL had approximately $3.7 million in cash and cash equivalents and $7.3 million in marketable securities, with no long-term debt [12] - The operating loss for the first quarter was approximately $3.2 million, compared to $2.4 million in the same quarter of 2024 [20] - The net loss attributable to XWELL for the first quarter was approximately $4.7 million, an increase from $2.5 million in the prior year, attributed to higher one-time expenses [22] Future Plans - The company plans to open a new XWELL location in New York City's Penn Station in mid-2025, designed for quick-access wellness services [11] - XWELL is actively broadening its retail product portfolio to include wellness devices, nutritional supplements, and innovative wellness patches [8] - An investor conference call is planned to discuss growth initiatives and forthcoming programs [23]

Business Operations - As of December 31, 2024, XWELL operated 18 domestic XpresSpa locations and 10 international locations, including 4 in Istanbul Airport and 3 in Schiphol Amsterdam Airport[13]. - The acquisition of Naples Wax Center on September 12, 2023, was for a purchase price of $1,624, aimed at diversifying XWELL's wellness services beyond airport locations[19]. - XWELL plans to optimize its airport portfolio while pursuing off-airport growth through acquisitions, particularly in the med spa sector, to enhance brand reach[23]. - The company aims to expand its health and wellness services outside of airports, believing this represents the fastest way to scale its brand[21]. - XWELL's flexible retail format allows it to operate multiple stores within airports, adapting to various location sizes from 200 to 2,600 square feet[30]. - The company is strategically positioned to capitalize on the growing consumer interest in travel, health, and wellness, with a focus on expanding its retail strategy[28]. Financial Performance - XpresTest's revenue from a one-year program extension totaled approximately $7,044, with an increase to an estimated $15,100 following further funding expansion[15]. - The company may lend money to ACDBEs to help fund capital investments required under concession agreements[35]. Strategic Initiatives - XWELL's strategy includes integrating offerings across its brands and developing membership programs to enhance customer relationships and brand loyalty[22]. - The company recognizes the opportunity to leverage its products and services across its brand platform, including adding complementary products to service offerings[20]. - XWELL's bio-security services are set to expand beyond the U.S. through partnerships with government clients, supporting international growth goals[25]. Workforce and Compliance - As of December 31, 2024, the company had approximately 246 full-time and 66 part-time employees[37]. - The company is subject to various federal and state laws, including the Fair Labor Standards Act and the Americans with Disabilities Act, which may impact operational costs and compliance[35]. - The company must meet minimum Airport Concession Disadvantaged Business Enterprise (ACDBE) participation requirements, which are complex and costly to ensure compliance[35]. - The company considers its relationships with employees to be good, indicating a positive workplace environment[37]. Corporate Information - The company's common stock has been listed under the trading symbol "XWELL" since October 25, 2022[38]. - The company operates multiple websites, including www.xwell.com and www.xpresspa.com, to provide information and services to customers[38]. - The company is not required to disclose quantitative and qualitative disclosures about market risk as it is classified as a smaller reporting company[260]. - The company is subject to truth-in-advertising and consumer protection rules, which govern its retail operations[36]. - The company’s principal executive offices are located in New York, New York[38].

Core Insights - XWELL, Inc. reported a revenue growth of approximately 13% for the year ended December 31, 2024, reaching $33.9 million compared to $30.1 million in 2023 [6][23] - The company successfully reduced operating expenses by approximately 19% year-over-year, while gross margin more than doubled from 12.2% in 2023 to 26.3% in 2024 [6][26] - XWELL is focusing on expanding its wellness offerings and integrating its brands under a unified identity, aiming to enhance customer loyalty and relationships [5][9] Financial Performance - Total revenue for 2024 was $33.9 million, with contributions from various segments: approximately $18.3 million from XpresSpa, $430,000 from Treat, $13.1 million from XpresTest, and $2.1 million from Naples Wax Center [23] - Total cost of sales decreased to approximately $25.0 million in 2024 from approximately $26.4 million in 2023 [24] - General and administrative expenses were approximately $12.5 million in 2024, down from approximately $13.0 million in the previous year [25] Strategic Initiatives - XWELL announced plans to acquire select medical spas in 2025, leveraging a recent $4 million private placement to expand into the wellness and beauty sector [9][22] - The company is extending its Traveler-based Genomic Surveillance Program in partnership with the CDC for three more years, with a total base value of $53.7 million [17] - XWELL is actively expanding its out-of-airport wellness portfolio, including the opening of a new Naples Wax Center location in Estero, Florida, and plans for six additional locations in Florida during 2025 [14][9] Brand and Market Positioning - XWELL aims to unify its wellness offerings under a single brand identity, enhancing its market presence and customer engagement [5][7] - The company operates at the intersection of travel, health, and wellness, with brands including XWELL™, XpresSpa®, Treat™, Naples Wax Center®, XpresCheck®, and HyperPointe™ [11][29] - XpresSpa is recognized as a leading airport retailer of wellness services, with 18 domestic and 10 international locations as of December 31, 2024 [12]