NEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), a provider of wellness and biosecurity solutions, today announced that it has entered into a securities purchase agreement with a series of American Ventures, LLC in a private placement that is expected to result in gross proceeds to the Company of approximately $31.3 million, before deducting placement agent fees and offering expenses. The private placement consists of the sale of, (i) approximately 31,333 sh ...

Core Insights - XWELL Inc. has formed a strategic partnership with PieQ to create a next-generation biosecurity forecasting platform to support the CDC, following the TGS program reaching over one million voluntary participants [1][2] Group 1: Partnership and Technology - The collaboration integrates AI-driven forecasting into biosecurity operations, allowing for more effective resource allocation and sample collection [2][4] - The platform analyzes real-time global aviation data and passenger flows to predict international traveler arrivals, enhancing proactive biosecurity measures [3][5] Group 2: Operational Impact - The system enables public health officials to plan and scale biosecurity operations in advance of international travel surges, such as during major events like the 2026 World Cup [4][6] - Currently, the platform operates across seven airports, monitoring thousands of international travelers weekly, and functions as a global intercept network for biosecurity [6][7] Group 3: Future Implications - The partnership aims to establish a scalable model for addressing future pandemics and biosecurity threats by transitioning from reactive monitoring to predictive intelligence [7]

Core Insights - XWELL, Inc. is expanding its global biosecurity strategy by leveraging its traveler-based pathogen surveillance capabilities to support international travel hubs and large-scale mass gathering events worldwide [1][4] Group 1: Company Strategy and Leadership - XWELL has appointed Dr. Cindy Friedman, a former CDC senior advisor, as a senior advisor to provide strategic guidance on traveler-based surveillance for international biosecurity initiatives [2][5] - The company has been collaborating with the CDC and Ginkgo Bioworks on the Traveler-based Genomic Surveillance (TGS) program, contributing to one of the largest traveler-based pathogen surveillance initiatives in the U.S. [3][6] - XWELL aims to apply proven surveillance models to global travel hubs and large-scale events, currently operating wellness and biosecurity programs across seven major U.S. airports [4][8] Group 2: Global Expansion and Market Focus - XWELL is actively exploring opportunities to extend its biosecurity footprint into Europe and the Middle East, including regions like Turkey, Dubai, and Saudi Arabia, which host significant mass gathering events [6] - The company is positioned to play a crucial role in shaping biosecurity program design and implementation in global travel and mass gathering settings [8]

Core Insights - XWELL has opened a new location in New York City's Pennsylvania Station, expanding its wellness solutions beyond airport terminals into high-traffic urban areas [1][2] - The new location aims to provide accessible self-care to over 600,000 daily commuters, offering quick treatments and wellness products in a calm environment [2][3] - This opening is part of XWELL's broader strategy to create a modern network of wellness destinations that cater to busy lifestyles [4] Company Overview - XWELL, Inc. (Nasdaq: XWEL) is focused on redefining the wellness experience through its brands, including XpresSpa and Naples Wax Center, making self-care accessible and convenient [5] - The company operates in airports and metropolitan areas globally, aiming to help individuals maintain their well-being wherever they are [5]

Financial Performance - Total revenue for the three months ended September 30, 2025, was $7,345, a decrease of $1,077 or 13% compared to $8,422 in the same period of 2024, primarily due to reduced CDC revenue for XpresTest[136] - Total revenue for the nine months ended September 30, 2025, was $22,056 million, a decrease of $4,374 million or 17% compared to $26,430 million in 2024[145] - Total cost of sales for the three months ended September 30, 2025, was $5,852, a decrease of $517 or 8% from $6,369 in 2024, driven by lower product costs and reduced labor due to store closures[137] - Total cost of sales for the nine months ended September 30, 2025, was $17,470 million, a decrease of $1,163 million or 6% compared to $18,633 million in 2024[146] - General and administrative expenses for the nine months ended September 30, 2025, were $10,144 million, a decrease of $5,165 million or 34% compared to $15,309 million in 2024[149] - Interest income for the nine months ended September 30, 2025, increased by $387 million to $695 million, primarily due to interest paid towards employee retention credits[153] - Foreign exchange loss for the nine months ended September 30, 2025, was $1,127 million, an increase of $917 million compared to $210 million in 2024[150] Asset and Impairment - Depreciation and amortization for the three months ended September 30, 2025, was $221, a decrease of approximately $31 or 12% compared to $252 in 2024, due to fewer long-lived assets available for depreciation[138] - The impairment of long-lived assets for the nine months ended September 30, 2025, was $122, primarily due to impairments recognized in the current period[139] Strategic Initiatives - XWELL acquired Naples Wax Center on September 12, 2023, for a purchase price of $1,624, aiming to expand its wellness platform beyond airport services[126] - XpresTest's revenue from a renewed program with the CDC is estimated to reach $15,100, following a three-year contract valued at $22.2 million[125] - As of September 30, 2025, XWELL operated 17 domestic and 11 international XpresSpa locations, enhancing its global presence[120] - The company plans to expand its retail strategy by adding more products and aligning them with service offerings, such as muscle relaxation patches[127] - XWELL aims to build capabilities for delivering health and wellness services outside of airports, which is seen as a key growth strategy[128] Financial Position and Concerns - The company reported a working capital surplus of $758 million as of September 30, 2025, down from $6,113 million as of December 31, 2024[154] - The company has expressed substantial doubt about its ability to continue as a going concern due to recurring losses and insufficient liquidity[154] - The company is pursuing strategic partnerships to strengthen long-term profitability and improve its cash position[155] - The company must raise additional equity or debt capital to fund future operations, with no assurance of success in doing so[157] Debt and Financial Instruments - An Exchange Agreement was entered into on November 3, 2025, involving the exchange of approximately $1.6 million in Series G Preferred Stock for $3.4 million in senior secured convertible notes[129] - The company issued Senior Secured Convertible Notes on November 5, 2025, with an interest rate of 8.0% per annum, maturing in three years and four months[161] - The Company is required to maintain unencumbered cash and cash equivalents of at least $1,000,000 and deposit $1,350,000 into a segregated account[166] - The fair value of the bifurcated embedded derivative related to convertible preferred stock was estimated using a Monte Carlo simulation model[170] - The Company does not use derivative financial instruments to hedge exposures to cash-flow, market, or foreign-currency risks[169] - The Company accounts for warrants as either equity-classified or liability-classified instruments based on specific terms[171] - The fair value of the warrant liability was estimated using the Black Scholes Model, considering various weighted average assumptions[171] - There have been no material changes to the Company's critical accounting estimates from the previous report[169] Market and Economic Conditions - Ongoing geopolitical conflicts may adversely impact macroeconomic conditions and contribute to increased market volatility[172] - The number of airline travelers is volatile and subject to change based on various conditions, including travel fare prices and oil prices[172] - The Company has not identified any trends, events, or uncertainties likely to materially affect its financial condition, other than those discussed[173] - Changes in U.S. policy and government actions may impact the U.S. and global economy, tariffs, and international trade[173]

Revenue and Financial Performance - Revenue for Q3 2025 totaled approximately $7.3 million, with $5.1 million from XpresSpa, $1.7 million from XpresCheck, and $0.5 million from Naples Wax Center[5][13]. - Net loss attributable to XWELL for Q3 2025 was approximately $0.7 million, a significant reduction from approximately $4.8 million in the comparable prior year period[14]. - Total operating expenses for Q3 2025 were approximately $2.3 million, down from approximately $6.8 million in the prior year[13]. Cost Management - Cost of sales decreased approximately 8% from Q3 2024, totaling around $5.9 million for Q3 2025 compared to $6.4 million in the prior year[5][13]. - General and administrative expenses, excluding one-time credits, decreased approximately 32% from Q3 2024[5]. - The Company streamlined its cost structure, reducing approximately $2.4 million in annualized staffing costs[6]. Expansion and Partnerships - XWELL expanded its partnership with Priority Pass to key international airports across the Middle East and Europe, enhancing access to wellness offerings for travelers[5][7]. - New wellness centers opened in Florida, including locations at Bloomingdale Square and Waterford Lakes, with a Penn Station location set to open in mid-November[5][9]. - XWELL continues to pursue opportunities for potential acquisitions to extend its reach into the broader wellness consumer landscape[9]. Cash Position - As of September 30, 2025, the Company had approximately $4.0 million in cash and cash equivalents and no long-term debt[12].

Core Insights - XWELL, Inc. reported third-quarter revenue of approximately $7.3 million for the period ending September 30, 2025, with significant improvements in cost management and operational efficiency [6][15] - The company is expanding its wellness services beyond airport locations, with new centers opening in Florida and New York City, enhancing accessibility for consumers [3][7][14] - XWELL has streamlined its corporate cost structure, reducing annualized staffing costs by approximately $2.4 million, and integrated its HyperPointe™ business to optimize resources [4][5] Recent Operating Highlights - The CEO emphasized progress in diversifying access points and enhancing brand relevance, particularly through partnerships like the expanded collaboration with Priority Pass [3] - New off-airport wellness centers have been opened, including locations in Penn Station, New York, and various Florida markets, aimed at serving local consumers [3][6][7] Financial Overview - Revenue breakdown for Q3 2025: approximately $5.1 million from XpresSpa, $1.7 million from XpresCheck, and $0.5 million from Naples Wax Center [15] - Cost of sales decreased by about 8% compared to the same quarter in 2024, while general and administrative expenses fell by approximately 32% [6][15] - The operating loss for the quarter was approximately $0.8 million, a significant reduction from the $4.8 million loss in the prior year [15] Strategic Initiatives - XWELL's partnership with Priority Pass has expanded to key international airports in the Middle East and Europe, enhancing traveler access to wellness offerings [6][7] - The company is leveraging its biosecurity program, XpresCheck, to capture growth opportunities in travel and mass-gathering settings, including major global events [8][9][10] Liquidity and Financial Condition - As of September 30, 2025, XWELL had approximately $4.0 million in cash and cash equivalents, with total current assets of about $10.8 million and no long-term debt [11]

Core Insights - XWELL has partnered with Ostrichpillow to launch a co-branded, limited-edition Eye Mask in a unique Blue Breeze colorway, aimed at enhancing the travel experience through wellness solutions [1][2] - The collaboration focuses on providing travelers with a product that combines innovation, comfort, and aesthetic appeal, particularly in anticipation of the busy holiday travel season [2] - The Eye Mask is designed with an ergonomic shape and premium fabric to block out light and promote deeper rest, emphasizing the importance of self-care even while traveling [2][3] Company Overview - XWELL, Inc. is a leader in wellness solutions, offering a portfolio that includes brands like XpresSpa and Naples Wax Center, with a mission to make self-care accessible and elevated [5] - Ostrichpillow, founded in 2012, aims to redefine rest and well-being through innovative designs, promoting a global movement towards better rest practices [6]

Core Insights - XWELL, Inc. has announced a global expansion of its partnership with Priority Pass, enhancing wellness solutions for travelers by providing access to wellness services at key international airports [1][2] Group 1: Partnership Expansion - The collaboration with Priority Pass, which initially launched in North America, is now extending to major airports in the Middle East and Europe [1][2] - Priority Pass members can enjoy a 20-minute autonomous massage session on XWELL's signature loungers, along with a complimentary face mask, as part of their lounge visit entitlement [2] Group 2: Wellness Focus - The partnership aims to prioritize traveler wellbeing, reflecting a growing demand for wellness options during travel [2] - XWELL's CEO highlighted the importance of making wellness an integral part of the travel experience, not just a destination [2] Group 3: Company Overview - XWELL, Inc. is focused on redefining the modern wellness experience through its various brands, making self-care accessible in airports and metropolitan areas worldwide [4] - Priority Pass operates over 1,600 airport lounges and travel experiences globally, enhancing the travel experience for its members [5]

Core Insights - XWELL celebrates the grand opening of its new wellness center in Bloomingdale Square, Florida, marking a significant step in its expansion strategy in the state [1][4][5] Group 1: Company Expansion - The Bloomingdale center is part of XWELL's ongoing strategy to expand its brick-and-mortar presence, following recent openings in Waterford and Clearwater [4][5] - The new location will offer a full suite of wellness services, including facials, waxing, and medical services such as Botox and Dermal Fillers, with plans for additional services in the future [4][3] Group 2: Community Engagement - The grand opening event includes immersive experiences such as live demonstrations, personalized skincare consultations, and complimentary product sampling [2][3] - Attendees will receive gift bags while supplies last, enhancing community engagement and customer experience [4] Group 3: Company Overview - XWELL, Inc. operates a portfolio of wellness brands focused on health, beauty, and self-care, redefining modern wellness experiences through innovation and accessibility [6]