Table of Contents | UNITED STATES | | | | --- | --- | --- | | SECURITIES AND EXCHANGE COMMISSION | | | | Washington, D.C. 20549 | | | | FORM 10-K | | | | (Mark One) | | | | ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | For the fiscal year ended December 31, 2024 | | | | OR | | | | ☐ 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 ...

Exhibit 99.1 "We believe that XWELL's improved 2024 financial and operational performance reflects the successful execution of our growth and productivity initiatives," said Ezra Ernst, CEO of XWELL. "We continue to capitalize on compelling growth opportunities across our brands and remain focused on achieving sustainable expansion alongside our relentless focus on wellness and our customers." "We're also grateful and proud to continue the work we developed with our partners at the CDC and Ginkgo Bioworks f ...

NEW YORK, April 15, 2025 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), a pioneer in democratizing wellness, today reported results for the year ended December 31, 2024. Recent Highlights: XWELL delivered 2024 revenue growth of approximately 13% versus 2023.Gross margin more than doubled, increasing from 12.2% in 2023 to 26.3% in 2024.The Company reduced operating and overhead expenses in 2023 and 2024, while it continues to focus on returning to overall profitability. For the ye ...

Core Insights - XWELL, Inc. plans to acquire select medical spas by the end of 2025, utilizing a recent $4 million private placement to expand into the wellness and beauty sector [1][2] - The company aims to create a seamless continuum of care, extending its services beyond airports into metropolitan areas with rising demand for advanced beauty and wellness treatments [1][2] - XWELL's strategy focuses on enhancing medical spas to provide high-quality, science-backed wellness experiences, positioning itself as a leading brand in holistic self-care [2][3] Company Strategy - The initial focus for acquisitions will be on metropolitan areas such as Orlando, Austin, and Salt Lake City, where there is strong demand for medspa services [2] - XWELL intends to introduce state-of-the-art treatments, AI-driven personalization, and innovative skincare solutions to meet evolving wellness needs [2][3] - This expansion is part of a long-term strategy to establish a nationwide presence in the beauty and wellness market, delivering cutting-edge self-care solutions [3] Market Context - The global medical spa market is rapidly expanding as consumers increasingly seek non-invasive, results-driven treatments that enhance beauty and overall quality of life [3] - XWELL's approach will combine luxury with medical expertise, offering a curated selection of high-impact treatments administered by certified professionals [3] - The company aims to prioritize health, confidence, and well-being through its offerings, which include various aesthetic and wellness services [6]

NEW YORK, Jan. 15, 2025 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the closing of its private placement offering of $4 million of the Company's newly designated Series G Convertible Preferred Stock. The Company also issued to the investors in the private placement Series A warrants and Series B warrants exercisable for the Company's common stock. The gross proceeds of the private placement were approximat ...

NEW YORK, Jan. 15, 2025 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the closing of its private placement offering of $4 million of the Company’s newly designated Series G Convertible Preferred Stock. The Company also issued to the investors in the private placement Series A warrants and Series B warrants exercisable for the Company’s common stock. The gross proceeds of the private placement were approxima ...

Senior Leadership Appointments - Ian Brown appointed as the new Chief Financial Officer (CFO) of XWELL, succeeding Suzanne Scrabis, effective January 6, 2025 [1] - Peter Vermeulen joins XWELL as the new Head of Human Resources [1][3] - Mike Heronime joins XWELL as the new Marketing Director [1][3] Compensation and Stock Options - Ian Brown granted stock options to purchase up to 37,000 shares of common stock at an exercise price equal to the fair market value on January 6, 2025 [2] - Stock options vest in four quarterly installments of 25% each, contingent on continued employment [2] Leadership Backgrounds - Ian Brown has over 25 years of experience in operational finance, including roles at Accordion, FTI Consulting, Charter Communications, and Insight Communications [5] - Peter Vermeulen brings over 25 years of global HR experience, with senior roles at TeleSign, Amazon, and Johnson & Johnson [6] - Mike Heronime has more than 25 years of strategic marketing experience, including roles at Positive Brand, RKD Group, Tribal DDB, and Bozell [7][8] Company Strategy and Vision - New leadership appointments aim to support XWELL's strategic growth, unify brands, enhance company culture, and improve financial and operational performance [4] - CEO Ezra Ernst emphasizes the importance of these appointments in driving growth and liberating wellness [4] Company Overview - XWELL operates multiple wellness brands including XpresSpa, Treat, Naples Wax Center, XpresCheck, and HyperPointe [9] - XpresCheck conducts biosurveillance monitoring in partnership with the CDC and Ginkgo Biosecurity to identify new SARS-CoV-2 variants and other pathogens [11]

NEW YORK, Dec. 05, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced that the Company’s Chief Executive Officer, Ezra Ernst has issued an open letter to shareholders. The letter provides a summary of the Company’s business objectives for 2025 which are aimed to liberate wellness, unify its brands, and accelerate growth. ------------------------ Dear Fellow Shareholders, We are experiencing a remarkable tra ...

XWELL, Inc. (NASDAQ:XWEL) Q3 2024 Earnings Conference Call November 14, 2024 5:00 PM ET Company Participants Suzanne Scrabis – Chief Financial Officer Ezra Ernst – Chief Executive Officer Conference Call Participants Operator Good day, and welcome to the XWELL, Inc. Third Quarter 2024 Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] I would now like to turn the conference over to Suzanne Scrabis, Chief Financial Officer. Please go ahead, ma’am. Suzanne Scrabis ...

Revenue Performance - XWELL reported third quarter 2024 revenue of $8.4 million, a 13% increase compared to $7.5 million in the third quarter of 2023[15]. - For the nine-month period ended September 30, 2024, revenue grew approximately 16% compared to the same period in 2023[2]. - XpresSpa locations generated approximately $4.9 million in revenue during the third quarter 2024[16]. Operating Expenses and Losses - The company reduced total operating expenses by approximately 35% for the nine-month period ended September 30, 2024, compared to the same period in 2023[3]. - XWELL's operating loss for the third quarter 2024 was approximately $4.8 million, significantly improved from an operating loss of approximately $12.1 million in the third quarter of 2023[18]. - Net loss attributable to XWELL was approximately $4.8 million for the third quarter 2024, compared to approximately $11.5 million in the same quarter of 2023[19]. Financial Position - As of September 30, 2024, the company had approximately $4.4 million in cash and cash equivalents and no long-term debt[13]. - The company executed a registered direct offering in August 2024, resulting in gross proceeds of $1.4 million[3]. Expansion Plans - XWELL plans to open approximately 10 out-of-airport locations in Florida in 2025, expanding its Naples Wax Center brand[8]. - XWELL is set to open a new XpresSpa location in New York City's Penn Station in 2025, enhancing its presence in transportation hubs[9].