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XWELL Named Official Wellness Spa of the Orlando Magic
GlobeNewswire News Room· 2025-06-17 12:00
Core Insights - XWELL, Inc. has partnered with the Orlando Magic as the Official Wellness Spa, marking a strategic expansion into local markets, starting with Florida [1][2] - The partnership aims to enhance brand visibility and community engagement, promoting wellness beyond travel hubs [2][4] Group 1: Partnership Details - The collaboration includes brand integration across various platforms such as LED signage, radio promotions, and exclusive events [3] - XWELL will host co-branded wellness events featuring Magic alumni and entertainment teams, enhancing community interaction [3][5] - The partnership is expected to strengthen XWELL's customer acquisition efforts in Florida, focusing on expanding its medspa presence [4] Group 2: Strategic Goals - Florida is identified as a priority growth market for XWELL, with plans to increase brand awareness and establish connections with local consumers [2][4] - The partnership reflects a shared commitment to health and well-being for fans, players, and staff, aligning with both organizations' values [5] Group 3: Company Background - XWELL operates a portfolio of wellness brands, including Xpres Spa and Naples Wax Center, and aims to redefine the modern wellness experience [7] - The Orlando Magic, established in 1989, emphasizes community engagement and has contributed over $2 million annually to local initiatives [8][9]
XWELL Reports First Quarter 2025 Results, Advancing Mission to Liberate Science-Proven Wellness
Globenewswire· 2025-05-20 20:15
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% year-over-year, while total operating expenses decreased by approximately 11% [9][19] Financial Condition - As of March 31, 2025, XWELL had approximately $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]