Logo

XWEL

XWELL, Inc.

XWEL

XWELL, Inc. • NASDAQ
$0.76 ▲ 0.04% (+0.00)
Market Cap $4.38 M
52w High $2.00
52w Low $0.70
Dividend Yield 0%
P/E -0.22
Volume 16.23K
Outstanding Shares 5.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.345M ▼ $1.554M ▼ $-724K ▲ -9.857% ▲ $-0.26 ▲ $271K ▲
Q2-2025 $7.689M ▲ $4.467M ▼ $-2.269M ▲ -29.51% ▲ $-0.56 ▲ $-2.261M ▲
Q1-2025 $7.023M ▼ $4.477M ▼ $-4.719M ▲ -67.194% ▲ $-1 ▲ $-4.146M ▼
Q4-2024 $7.467M ▼ $8.789M ▲ $-7.595M ▼ -101.714% ▼ $-1.59 ▼ $-3.244M ▲
Q3-2024 $8.422M $6.822M $-4.75M -56.4% $-0.99 $-4.041M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $4.224M ▼ $21.742M ▼ $18.676M ▲ $-6.333M ▼
Q2-2025 $8.148M ▼ $22.445M ▼ $18.321M ▼ $-4.766M ▲
Q1-2025 $10.968M ▼ $24.827M ▼ $21.401M ▲ $-5.228M ▼
Q4-2024 $11.797M ▼ $25.352M ▼ $17.61M ▼ $-788K ▼
Q3-2024 $16.025M $33.785M $18.958M $6.304M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-724K ▲ $-2.107M ▲ $1.715M ▼ $-871K ▼ $-1.276M ▼ $-3.052M ▲
Q2-2025 $-2.052M ▲ $-2.386M ▲ $3.561M ▲ $-95K ▼ $1.113M ▲ $-3.275M ▲
Q1-2025 $-4.588M ▲ $-4.178M ▼ $-470K ▼ $3.745M ▲ $-900K ▼ $-4.602M ▼
Q4-2024 $-7.636M ▼ $-3.464M ▼ $3.704M ▲ $0 ▼ $185K ▲ $-4.193M ▼
Q3-2024 $-4.705M $-3.416M $1.01M $1.355M $-1.054M $-3.826M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Products
Products
 $0 ▲$0 ▲$0 ▲$0 ▲
Services
Services
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement XWELL is still a very small company with a history of recurring losses. Revenue has been fairly flat in recent years and remains modest, which limits the ability to spread fixed costs. Gross profit exists but is thin, so operating expenses quickly push results into the red. There was a brief period of near break‑even performance a few years ago, but that has not held, and recent years show continuing operating and net losses. Earnings per share also look very weak, amplified by multiple reverse stock splits, which concentrate past losses into fewer shares. Overall, the income statement shows a business still searching for consistent, scalable profitability.

Balance Sheet

Balance Sheet The balance sheet has been getting lighter. Total assets and cash have both come down meaningfully from earlier levels, suggesting that the company has been using its resources to fund operations and reposition the business. Shareholders’ equity has also shrunk toward a very thin base, which reduces the financial cushion against future setbacks. Debt is present but not especially large in absolute terms; the bigger issue is that the capital structure is now quite lean, with limited room for further losses without new capital or a clear turn to profitability. In short, the balance sheet looks fragile and demands careful stewardship.

Cash Flow

Cash Flow Cash flow from day‑to‑day operations has been negative in most years, with only a short-lived positive stretch, which means the company has generally been burning cash rather than generating it. Free cash flow has also been negative, even though investment spending on property and equipment is relatively modest. This pattern indicates that the core business has not yet reached self‑funding status and has relied on existing cash and likely external financing to bridge the gap. Going forward, the key question is whether growth and efficiency gains can reverse this cash burn before the remaining cash cushion becomes too thin.

Competitive Edge

Competitive Edge XWELL sits in a crowded wellness and beauty arena, but it has tried to carve out a distinct niche. The combination of airport spas, off‑airport wellness and beauty locations, and a public health testing and biosurveillance arm is unusual. The long‑term relationship with a major public health agency for traveler surveillance is a real differentiator and not easily copied, providing credibility and a recurring, contract‑driven revenue stream. At the same time, the core spa and medspa markets are highly competitive and local in nature, with many well‑funded chains and independent operators. XWELL’s competitive position therefore depends heavily on how well it can integrate its brands, use its data capabilities, and scale beyond its historical airport base.

Innovation and R&D

Innovation and R&D Innovation at XWELL is less about lab research and more about combining technology, partnerships, and new formats. The HyperPointe acquisition gives the company a data and digital backbone, enabling personalized offers, better customer targeting, and a more integrated online booking experience. The use of automated massage chairs, robotic services, and potential VR offerings points to a model that can reduce labor intensity while keeping a modern, tech‑forward image. The biosurveillance program with public sector partners reflects a specialized capability at the intersection of travel, health, and security. Planned moves into medical aesthetics and a unified brand and membership program are additional strategic bets. The opportunity is meaningful, but execution risk is high: integrating multiple concepts, maintaining service quality, and turning innovation into steady profits will be challenging.

Summary

XWELL is in the middle of a major transition: from a niche airport spa operator with chronic losses to a broader wellness and health platform built on technology, strategic partnerships, and a more diversified footprint. The financials show a small company with limited scale, ongoing losses, shrinking cash and equity, and negative cash flow, which together create a tight margin for error. Against that, the firm has some unique assets, including its public health partnership, airport presence, data and digital capabilities, and expansion into off‑airport wellness and medical spa services. The story now hinges on disciplined execution: growing higher‑margin services, integrating acquisitions, unifying the customer experience, and moving the business from cash burn toward a more durable, self‑sustaining model, all while managing a relatively thin balance sheet.

NEWS

November 14, 2025 · 4:30 PM UTC

XWELL Reports Third Quarter 2025 Results

Read more

November 5, 2025 · 8:00 AM UTC

XWELL and Ostrichpillow Launch Exclusive Co-Branded Eye Mask

Read more

October 30, 2025 · 8:00 AM UTC

XWELL Expands Priority Pass Partnership to Bring Wellness Worldwide

Read more

September 12, 2025 · 8:00 AM UTC

XWELL Strengthens Florida Presence with Bloomingdale Wellness Center Grand Opening

Read more