XWELL Inc Financials
This page shows XWELL Inc (XWEL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
XWELL Inc has an operating margin of -49.3%, meaning the company retains $-49 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -93.7% the prior year.
XWELL Inc's revenue grew 12.6% year-over-year to $33.9M, a solid pace of expansion. This earns a growth score of 65/100.
XWELL Inc's current ratio of 1.66 indicates adequate short-term liquidity, earning a score of 47/100. The company can meet its near-term obligations, though with limited headroom.
While XWELL Inc generated -$11.0M in operating cash flow, capex of $1.8M consumed most of it, leaving -$12.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
XWELL Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, XWELL Inc generates $0.65 in operating cash flow (-$11.0M OCF vs -$16.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
XWELL Inc earns $-44.0 in operating income for every $1 of interest expense (-$16.7M vs $380K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
XWELL Inc generated $33.9M in revenue in fiscal year 2024. This represents an increase of 12.6% from the prior year.
XWELL Inc's EBITDA was -$15.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 39.7% from the prior year.
XWELL Inc generated -$12.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 28.9% from the prior year.
XWELL Inc reported -$16.9M in net income in fiscal year 2024. This represents an increase of 39.2% from the prior year.
XWELL Inc earned $-3.66 per diluted share (EPS) in fiscal year 2024. This represents an increase of 44.9% from the prior year.
XWELL Inc held $4.5M in cash against $0 in long-term debt as of fiscal year 2024.
XWELL Inc had 5M shares outstanding in fiscal year 2024. This represents an increase of 25.9% from the prior year.
XWELL Inc's gross margin was 26.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 14.1 percentage points from the prior year.
XWELL Inc's operating margin was -49.3% in fiscal year 2024, reflecting core business profitability. This is up 44.4 percentage points from the prior year.
XWELL Inc's net profit margin was -49.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 42.4 percentage points from the prior year.
XWELL Inc invested $1.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 6.4% from the prior year.
XWEL Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.3M-4.5% | $7.7M+9.5% | $7.0M-5.9% | $7.5M-19.6% | $9.3M+6.4% | $8.7M+17.9% | $7.4M-0.9% | $7.5M |
| Cost of Revenue | $5.9M-1.0% | $5.9M+3.7% | $5.7M-10.2% | $6.4M+2.4% | $6.2M+2.4% | $6.1M-7.2% | $6.5M+2.3% | $6.4M |
| Gross Profit | $1.5M-15.9% | $1.8M+34.6% | $1.3M+18.2% | $1.1M-63.8% | $3.1M+15.3% | $2.7M+204.2% | $878K-19.5% | $1.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.6M-63.7% | $4.3M-0.7% | $4.3M+255.4% | -$2.8M-158.7% | $4.7M+13.2% | $4.2M+48.7% | $2.8M-6.5% | $3.0M |
| Operating Income | -$770K+71.4% | -$2.7M+14.8% | -$3.2M+58.8% | -$7.7M-305.0% | -$1.9M+20.4% | -$2.4M+53.4% | -$5.1M+57.8% | -$12.1M |
| Interest Expense | $490K+233.3% | $147K+153.4% | $58K-20.5% | $73K-24.7% | $97K-11.8% | $110K+171.0% | -$155K-247.6% | $105K |
| Income Tax | $2K-94.1% | $34K | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$724K+68.1% | -$2.3M+51.9% | -$4.7M+37.9% | -$7.6M-280.5% | -$2.0M+20.5% | -$2.5M+49.5% | -$5.0M+56.9% | -$11.5M |
| EPS (Diluted) | $-0.26+53.6% | $-0.56+44.0% | $-1.00+37.1% | $-1.59-231.3% | $-0.48+20.0% | $-0.60+49.6% | $-1.19+56.9% | $-2.76 |
XWEL Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $21.7M-3.1% | $22.4M-9.6% | $24.8M-2.1% | $25.4M-30.1% | $36.3M-3.2% | $37.5M-3.9% | $39.0M-9.2% | $42.9M |
| Current Assets | $10.8M-8.6% | $11.8M-20.3% | $14.8M-3.2% | $15.3M-33.7% | $23.1M-5.4% | $24.5M-7.9% | $26.6M-11.3% | $30.0M |
| Cash & Equivalents | $4.0M-24.2% | $5.3M+44.2% | $3.6M-19.8% | $4.5M-16.0% | $5.4M+25.5% | $4.3M-48.8% | $8.4M+74.8% | $4.8M |
| Inventory | $516K-7.9% | $560K+5.3% | $532K+6.2% | $501K-42.5% | $871K+4.4% | $834K-7.3% | $900K-7.0% | $968K |
| Accounts Receivable | $1.5M+1.0% | $1.5M-2.0% | $1.5M-16.5% | $1.8M-24.7% | $2.4M-17.9% | $2.9M+74.0% | $1.7M+39.7% | $1.2M |
| Goodwill | $1.4M0.0% | $1.4M0.0% | $1.4M0.0% | $1.4M0.0% | $1.4M-2.9% | $1.4M+4.4% | $1.4M | N/A |
| Total Liabilities | $28.1M+1.6% | $27.6M-9.8% | $30.6M+17.1% | $26.1M-4.9% | $27.5M+2.2% | $26.9M+3.5% | $26.0M+50.4% | $17.3M |
| Current Liabilities | $10.1M+6.1% | $9.5M+7.0% | $8.9M-3.9% | $9.2M-11.6% | $10.4M+13.6% | $9.2M-1.5% | $9.3M+14.4% | $8.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$6.3M-22.2% | -$5.2M+10.6% | -$5.8M-635.4% | -$788K-109.0% | $8.8M-16.8% | $10.6M-18.7% | $13.0M-26.9% | $17.8M |
| Retained Earnings | -$480.4M-0.2% | -$479.7M-0.5% | -$477.4M-1.0% | -$472.7M-2.7% | -$460.4M-0.4% | -$458.4M-0.6% | -$455.9M-1.1% | -$450.9M |
XWEL Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.1M+11.7% | -$2.4M+42.9% | -$4.2M-20.6% | -$3.5M-681.9% | -$443K+88.0% | -$3.7M-15.0% | -$3.2M+24.8% | -$4.3M |
| Capital Expenditures | $945K+6.3% | $889K+109.7% | $424K-41.8% | $729K+106.5% | $353K+21.3% | $291K+9.4% | $266K-34.2% | $404K |
| Free Cash Flow | -$3.1M+6.8% | -$3.3M+28.8% | -$4.6M-9.8% | -$4.2M-426.8% | -$796K+80.0% | -$4.0M-14.6% | -$3.5M+25.6% | -$4.7M |
| Investing Cash Flow | $1.7M-51.8% | $3.6M+857.7% | -$470K-112.7% | $3.7M+138.7% | $1.6M+518.3% | -$371K-105.4% | $6.8M+162.6% | $2.6M |
| Financing Cash Flow | -$871K-816.8% | -$95K-102.5% | $3.7M | $0 | N/A | N/A | $0-100.0% | $150K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
XWEL Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.3%-2.7pp | 23.1%+4.3pp | 18.8%+3.8pp | 14.9%-18.2pp | 33.2%+2.6pp | 30.6%+18.8pp | 11.9%-2.8pp | 14.6% |
| Operating Margin | -10.5%+24.5pp | -35.0%+10.0pp | -45.0%+57.7pp | -102.7%-82.3pp | -20.4%+6.9pp | -27.3%+41.7pp | -69.0%+92.9pp | -161.9% |
| Net Margin | -9.9%+19.6pp | -29.5%+37.7pp | -67.2%+34.5pp | -101.7%-80.2pp | -21.5%+7.3pp | -28.8%+38.4pp | -67.2%+87.3pp | -154.4% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -3.3%+6.8pp | -10.1%+8.9pp | -19.0%+10.9pp | -30.0%-24.5pp | -5.5%+1.2pp | -6.7%+6.0pp | -12.8%+14.1pp | -26.9% |
| Current Ratio | 1.08-0.2 | 1.25-0.4 | 1.68+0.0 | 1.66-0.6 | 2.22-0.4 | 2.66-0.2 | 2.85-0.8 | 3.67 |
| Debt-to-Equity | -4.43+0.9 | -5.33-0.0 | -5.28+27.9 | -33.17-36.3 | 3.12+0.6 | 2.54+0.5 | 2.00+1.0 | 0.97 |
| FCF Margin | -41.5%+1.0pp | -42.6%+22.9pp | -65.5%-9.4pp | -56.1%-47.6pp | -8.6%+37.0pp | -45.5%+1.3pp | -46.8%+15.6pp | -62.4% |
Note: Shareholder equity is negative (-$788K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is XWELL Inc's annual revenue?
XWELL Inc (XWEL) reported $33.9M in total revenue for fiscal year 2024. This represents a 12.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is XWELL Inc's revenue growing?
XWELL Inc (XWEL) revenue grew by 12.6% year-over-year, from $30.1M to $33.9M in fiscal year 2024.
Is XWELL Inc profitable?
No, XWELL Inc (XWEL) reported a net income of -$16.9M in fiscal year 2024, with a net profit margin of -49.7%.
What is XWELL Inc's earnings per share (EPS)?
XWELL Inc (XWEL) reported diluted earnings per share of $-3.66 for fiscal year 2024. This represents a 44.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is XWELL Inc's EBITDA?
XWELL Inc (XWEL) had EBITDA of -$15.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is XWELL Inc's gross margin?
XWELL Inc (XWEL) had a gross margin of 26.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is XWELL Inc's operating margin?
XWELL Inc (XWEL) had an operating margin of -49.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is XWELL Inc's net profit margin?
XWELL Inc (XWEL) had a net profit margin of -49.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is XWELL Inc's free cash flow?
XWELL Inc (XWEL) generated -$12.8M in free cash flow during fiscal year 2024. This represents a 28.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is XWELL Inc's operating cash flow?
XWELL Inc (XWEL) generated -$11.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are XWELL Inc's total assets?
XWELL Inc (XWEL) had $25.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are XWELL Inc's capital expenditures?
XWELL Inc (XWEL) invested $1.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does XWELL Inc have outstanding?
XWELL Inc (XWEL) had 5M shares outstanding as of fiscal year 2024.
What is XWELL Inc's current ratio?
XWELL Inc (XWEL) had a current ratio of 1.66 as of fiscal year 2024, which is generally considered healthy.
What is XWELL Inc's debt-to-equity ratio?
XWELL Inc (XWEL) had a debt-to-equity ratio of -33.17 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is XWELL Inc's return on assets (ROA)?
XWELL Inc (XWEL) had a return on assets of -66.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is XWELL Inc's cash runway?
Based on fiscal year 2024 data, XWELL Inc (XWEL) had $4.5M in cash against an annual operating cash burn of $11.0M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is XWELL Inc's debt-to-equity ratio negative or unusual?
XWELL Inc (XWEL) has negative shareholder equity of -$788K as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is XWELL Inc's Piotroski F-Score?
XWELL Inc (XWEL) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are XWELL Inc's earnings high quality?
XWELL Inc (XWEL) has an earnings quality ratio of 0.65x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can XWELL Inc cover its interest payments?
XWELL Inc (XWEL) has an interest coverage ratio of -44.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is XWELL Inc?
XWELL Inc (XWEL) scores 28 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.