XWELL, Inc. (NASDAQ:XWEL) Q2 2023 Results Conference Call August 14, 2023 5:00 PM ET Company Participants Suzanne Scrabis - CFO Scott Milford - CEO Operator Greetings. Welcome to XWELL's Second Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded on August 14, 2023. I would now like to turn the conference over to Suzanne Scrabis, Chief Financial Officer for XWELL. Please go ahead. Suzanne Scrabis Good day, everyone. Welcome to XWELL's conference cal ...

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 June 30, 2023 ☐ 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) Securities registered pursuant t ...

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, 2023 ☐ 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 ...

XWELL, Inc. (NASDAQ:XWEL) Q4 2022 Results Conference Call April 17, 2023 5:00 PM ET Company Participants Omar Haynes - Interim CFO Scott Milford - CEO Operator Greetings. Welcome to XWELL, Inc.'s Fiscal Year 2022 Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded on April 17, 2023. I would now like to turn the conference over to Omar Haynes, Interim Chief Financial Officer for XWELL. Please go ahead, sir. Omar Haynes Good day, everyone. Welcome to our conf ...

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, 2022 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 XWELL, Inc. (Exact name of registrant as specified in its charter) Delaware 20-4988129 (State or othe ...

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 September 30, 2022 ☐ 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 jurisdictio ...

Financial Data and Key Metrics Changes - In Q3 2022, total revenue was $10.7 million, a decline from $26.8 million in the prior year, primarily due to reduced demand at Express Check testing facilities [27] - The operating loss for the quarter was $7.6 million, compared to an operating profit of $7.1 million in the prior year [29] - Net loss attributable to common shareholders was $7.2 million, down from a net income of $5.6 million in the prior year [29] - Adjusted EBITDA was minus $4.5 million, compared to $8.7 million in the prior year [32] Business Line Data and Key Metrics Changes - Revenue from reopened Express spa locations was $4 million, with an additional $1.8 million from the biosurveillance partnership and $4.3 million from XpressCheck locations [27] - Retail sales historically accounted for approximately 17% of total revenue, with expectations of a sequential growth of 15% to 25% in Q1 2023 [13][14] Market Data and Key Metrics Changes - The company is expanding its international presence, with plans to open a 12th international location at Abu Dhabi International Airport in Q1 2023 [9] - The company has opened new locations in Istanbul, with plans for further expansion in the region [40][42] Company Strategy and Development Direction - The company is focused on a leaner business model with a path to profitability, emphasizing retail strategy and international expansion [5][19] - A new corporate identity was unveiled, and the company began trading under the new NASDAQ ticker symbol XWEL [6] - The company is exploring acquisition opportunities to diversify and grow its revenue base [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in emerging as a leaner and profitable company, with ongoing efforts to remove costs and optimize operations [25][54] - The company is optimistic about growth opportunities in both retail and international markets, with a focus on enhancing customer experience [52][54] Other Important Information - The company has successfully removed approximately $1 million in costs from its system and plans to close additional unprofitable locations [30][21] - Liquidity remains strong with cash and cash equivalents totaling $49.4 million and no long-term debt [31] Q&A Session Summary Question: Insight on XWELL's brands expanding into local communities - Management confirmed that expanding outside the airport is part of the overall strategy, with plans for strategic acquisitions in off-airport health and wellness businesses [35][36] Question: Update on M&A agreement with Benchmark - Management is actively looking at 3 to 4 potential acquisition opportunities but has no definitive agreements in place yet [38] Question: Plans to increase XWELL's global reach - Management highlighted ongoing international expansion efforts, including new locations in Istanbul and plans for Abu Dhabi [40][42] Question: Staffing trends and hiring challenges - Management acknowledged challenges in the labor market but noted improvements in recruiting tactics and staffing efforts [44][45] Question: Reduction of expenses and path to profitability - Management discussed the plan to reduce costs by over $1 million a month, which is expected to accelerate the path to profitability [46][48] Question: Future of XpressCheck footprint - Management confirmed the closure of unprofitable XpressCheck locations, entering 2023 with a streamlined operation [49][50] Question: Growth outlook for next year - Management expressed optimism about growth opportunities through core business improvements, international expansion, and potential acquisitions [52][54]

Financial Data and Key Metrics Changes - Revenue increased to $13.6 million in Q2 2022 from $9.1 million in Q2 2021, primarily driven by $7.4 million from Express Check locations and $3.7 million from reopened spas and Treat locations [47] - Operating loss was $7.8 million compared to a loss of $4.2 million in the prior year [50] - Net loss attributable to common shareholders was $7.9 million, up from $4.5 million in the previous year [50] - Cash and cash equivalents totaled $71.1 million, with working capital of $61.8 million and no long-term debt [52] Business Line Data and Key Metrics Changes - The company currently operates 26 spas globally, with plans to open five more in Q3, including the first location in Istanbul Airport [11][21] - Two Treat locations are currently open, with a third expected to open in Salt Lake City in late Q3 [26] - Revenue from Express Check locations was $7.4 million, while reopened spas and Treat locations generated $3.7 million [47] Market Data and Key Metrics Changes - The company is expanding its international presence, with plans to open a new spa location at Abu Dhabi Airport in Q1 2023 and five new locations at Istanbul Airport by the end of 2022 [24][22] - Istanbul Airport serves approximately 250 international destinations and over 20 million passengers annually, making it a strategic location for expansion [22] Company Strategy and Development Direction - The company aims to transform into a leading health and wellness provider for travelers, focusing on four core transformational imperatives: refreshing airport business, creating a new retail strategy, adding customers through acquisitions, and reducing infrastructure costs [7][8] - A strategic rebranding campaign is set to launch in Q4 2022, including a new name and visual identity [7][74] - The company is pursuing a B2B wellness product strategy and exploring partnerships for promotional packages and pop-up locations [73] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by the decline in testing demand but remains optimistic about the long-term growth potential through strategic initiatives [36][38] - The company is committed to optimizing capital and managing sustainable growth while focusing on shareholder value [33][70] - Management believes the underlying fundamentals are solid and that the company is well-positioned to achieve long-term objectives [45][58] Other Important Information - The company has successfully eliminated approximately $1 million a month in costs, which is expected to yield benefits starting in Q3 [51][33] - A new two-year contract with the CDC for biosurveillance efforts is valued at approximately $16 million, with a potential total value of $61 million [42][60] Q&A Session Summary Question: Can you provide guidance on the CDC contract? - The contract is worth up to $61 million over two years, with operations expanding to four major international airports and new locations for wastewater surveillance [60][62] Question: What is the expected number of locations by the end of Q3? - By the end of Q3, the company expects to have three Treat locations and 31 XpresSpa locations open globally [64] Question: What is the status of airport acquisition plans? - The company is actively pursuing acquisitions outside the airport to accelerate growth but has paused specific discussions due to valuation disagreements [68] Question: What is the company's capital allocation strategy? - The company aims to balance organic growth and external opportunities while returning excess capital to shareholders through share repurchases [69] Question: Can you elaborate on the B2B strategy? - The company has hired a leader to build a targeted B2B strategy, focusing on promotional packages and airport lounge services [73] Question: What is the timeline for the new brand launch? - The new brand is expected to launch in Q4 2022, pending the resolution of trademark and registration hurdles [74] Question: Is there potential for Monkeypox testing in the future? - The company is working with Ginkgo and the CDC to explore incorporating Monkeypox testing into their protocols [76] Question: How does the CEO view the company's direction? - The CEO believes the company is headed in the right direction, emphasizing the importance of agility and the integration of services to meet traveler needs [79]

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 June 30, 2022 ☐ 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 XpresSpa Group, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 20-4988129 ...

XpresSpa Group, Inc. (XSPA) Q1 2022 Earnings Conference Call May 16, 2022 4:30 PM ET Company Participants James Berry - Chief Financial Officer Scott Milford - Chief Executive Officer Raphael Gross - Investor Relations Conference Call Participants Operator Greetings, and welcome to XpresSpa Group's First Quarter 2022 Earnings Conference Call. During the presentation, all participants will be in listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded Monday, May 16, 2022. I ...