XWELL Reports First Quarter 2025 Results, Advancing Mission to Liberate Science-Proven Wellness

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$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]