NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the appoint of Ezra T. Ernst as Chief Executive Officer. Ernst succeeds Scott Milford, who will serve in a consultative role through the end of 2024. "Ezra brings the combination of operational and strategic excellence to the position, while also having a deep understanding of the company, the industry and key partners," said XWELL Chair ...

NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced a two-year partnership with Priority Pass™, the world's original and leading airport experiences program. Through this partnership, select Priority Pass members can enjoy a 25-minute Zero Gravity Massage Lounger at JFK, MIA, MCO, SLC, DFW, and PHL XpresSpa airport locations beginning August 26, 2024. The remainder of XpresSpa's 17 US loca ...

NEW YORK, Aug. 16, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) (the "Company") announced today that its Board of Directors has adopted a Tax Benefits Preservation Plan (the "Plan") intended to preserve the value of certain of the Company's tax attributes related to previously recorded net operating losses (the "Tax Attributes"). As of August 16, 2024, the Company has Tax Attributes which may entitle the Company to reduce taxable income with respect to the Company's current 2024 tax year. The Company ...

NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today reported results for the second quarter ended June 30, 2024. Recent Highlights: XWELL delivered 2024 second quarter revenue growth of approximately 14% from the comparable quarter in 2023 driven by stronger demand for services and retail products. In June, XpresSpa opened a new spa in Philadelphia International Airport -- its first in a U.S. airpor ...

NEW YORK, Aug. 08, 2024 (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 previously announced registered direct offering priced at a premium to market for the issuance and sale of an aggregate of 652,705 shares of its common stock, par value $0.01 per share, at a purchase price of $2.18 per share. The gross proceeds to the Company from the offering were approximately $1.4 million, before ded ...

NEW YORK, July 24, 2024 (GLOBE NEWSWIRE) -- Today, CPC Pain & Wellness SPV, LLC ("CPC"), a significant XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company") shareholder that beneficially owns 394,200 or 9.42% of XWELL's outstanding shares, issued the below letter to its fellow shareholders. The letter informs shareholders of CPC's recent lawsuit filing against the incumbent members of XWELL's Board of Directors for breach of their fiduciary duties and for the Board's wrongful and inequitable efforts to prev ...

XpresSpa is the leading airport retailers of wellness services and related products, with 32 locations in 15 airports globally. Exhibit 99.1 XWELL, Inc. Reports First Quarter 2024 Results NEW YORK, May 15, 2024 -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today reported results for the first quarter ended March 31, 2024. Recent Highlights: "We believe that XWELL's first quarter operating performance demonstrates accelerated progress in ou ...

Revenue and Growth - Total revenue for the three months ended March 31, 2024, was $8,726 million, an increase of $1,663 million or 24% compared to $7,063 million in the same period of 2023, primarily due to the increase in the XpresTest CDC contract and the addition of Naples Wax[136]. - The revenue from the bio surveillance program with the CDC was estimated to increase to $11,044 million following the expansion of funding and scope in March 2024[122]. Expenses and Cost Management - Cost of sales decreased by $486 million or 7% to $6,055 million in Q1 2024, attributed to the closure of 3 XpresSpa locations during 2023[137]. - General and administrative expenses decreased by approximately 47% to $2,092 million in Q1 2024, primarily due to rightsizing the existing business and optimizing the cost structure[140]. Acquisitions and Expansion - The company acquired Naples Wax Center for a purchase price of $1,624 million on September 12, 2023, aiming to expand beyond the airport client base and enhance the wellness platform[127]. - The company plans to open its first TreatStudios location in Jacksonville, Florida, in 2024, which will provide leased space to wellness service providers[128]. - The company is focusing on international expansion as global travel returns to pre-pandemic levels, aiming to grow its brands including bio surveillance outside the US[117]. Asset Management and Financial Position - The loss on disposal of assets increased by approximately $520 million to $652 million in Q1 2024, primarily due to the write-off of the closed Salt Lake City International Airport Treat location[139]. - As of March 31, 2024, the company had $4,317 million in cash and cash equivalents, $14,784 million in marketable securities, and total current assets of $24,456 million[144]. - Total current liabilities were approximately $9,187 million as of March 31, 2024, compared to $9,330 million as of December 31, 2023[144]. - The working capital surplus decreased to $15,269 million as of March 31, 2024, from $17,236 million as of December 31, 2023[144]. - The company used $3,682 million in operations during the three months ended March 31, 2024, compared to $5,865 million in the same period of 2023[146]. Stock and Liquidity - A reverse stock split of 1-for-20 was executed on September 28, 2023, adjusting all references to shares and per share amounts retroactively[130]. - The stock repurchase program was initially authorized for up to 750,000 shares and later increased by an additional 500,000 shares, with the program extended through September 15, 2023[147]. - The company believes it has sufficient liquidity to fund operations for the next twelve months[145]. Accounting and Compliance - There have been no material changes to the company's critical accounting estimates or methodologies[148].

XWELL, Inc. (NASDAQ:XWEL) Q4 2023 Earnings Conference Call April 16, 2024 5:00 PM ET Company Participants Suzanne Scrabis - CFO Scott Milford - CEO Operator Hello, and welcome to XWELL's Fiscal Year 2023 Earnings Results Conference Call. During today's presentation, all parties will be in a listen-only mode. [Operator Instructions] As a reminder, this conference call is being recorded on April 16, 2024. I would now like to turn the conference over to Suzanne Scrabis, Chief Financial Officer for XWELL. Pleas ...

4 to learning management systems to website and health related content creation, HyperPointe is a complementary service provider to XWELL's health-focused brands as well as providing the majority of services to the external community. Treat In 2022, Treat opened a new location in Phoenix Sky Harbor International Airport but by the fourth quarter of 2022, the decision was made to close this location. The remaining Treat locations offer a full retail product offering and a suite of wellness and spa services. ...