Welcome to our dedicated page for XWELL news (Ticker: XWEL), a resource for investors and traders seeking the latest updates and insights on XWELL stock.
XWELL Inc. (Nasdaq: XWEL) operates at the intersection of travel wellness and biosecurity, offering premium spa services and health solutions through brands like XpresSpa® and XpresTest®. This page serves as the definitive source for official company announcements and market-moving developments.
Investors and industry observers will find curated press releases covering operational milestones, including airport spa expansions, biosecurity partnerships, and service innovations. Our repository ensures timely access to earnings reports, leadership updates, and strategic initiatives shaping this health and wellness leader.
All content undergoes strict verification to maintain accuracy and compliance with financial disclosure standards. For ongoing monitoring of XWELL's progress in redefining travel health experiences, bookmark this page and check regularly for updates.
XWELL (XWEL) reported its fiscal year 2024 results, showing significant improvements in financial performance. Revenue grew 13% to $33.9 million, with gross margin more than doubling from 12.2% to 26.3%. The company achieved notable cost reductions, decreasing total operating expenses by 19% year-over-year.
Key developments include a three-year extension of its CDC partnership for the Traveler-based Genomic Surveillance Program, valued at $53.7 million base with an $85.7 million ceiling. XWELL expanded beyond airports with a new Naples Wax Center in Florida and secured a $4 million private placement in January 2025.
The company operates 18 domestic and 10 international XpresSpa locations, with plans to open 6 additional Naples Wax Center locations across Florida in 2025. Financial position shows $4.6 million in cash and $7.3 million in marketable securities, with no long-term debt. Operating loss improved to ($16.7) million from ($28.2) million in the previous year.
XWELL (Nasdaq: XWEL) has announced plans to acquire medical spas by the end of 2025, supported by a recent $4 million private placement. The company will initially target metropolitan areas including Orlando, Austin, and Salt Lake City.
The expansion aims to extend XWELL's wellness services beyond airports into the high-growth beauty and wellness sector. The company plans to offer various treatments including:
- Facial aesthetics and skin care treatments
- Injectables and fillers
- Body sculpting
- Laser therapies
- Massage and relaxation therapies
- Wellness and recovery services
- Weight loss management
This strategic move aligns with XWELL's mission to 'liberate wellness' by creating a comprehensive care continuum and establishing a nationwide presence in beauty and wellness services.
XWELL (Nasdaq: XWEL) has closed a private placement offering of $4 million, consisting of Series G Convertible Preferred Stock and warrants. The offering includes 4,000 shares of Series G Convertible Preferred Stock with a $1.496 initial conversion price, along with Series A warrants (exercise price $1.496) and Series B warrants (exercise price $1.7952), both exercisable immediately with a five-year expiration.
The company plans to use the net proceeds for working capital and general corporate purposes, specifically focusing on developing AI-driven health, wellness, and beauty products, expanding XWELL locations beyond airports, and enhancing integrated branding efforts. This aligns with the strategy outlined in their December 5, 2024 shareholder letter.
The securities were sold in transactions exempt from Securities Act registration requirements. XWELL has agreed to file a registration statement for the resale of common stock issuable upon conversion of the preferred stock and warrant exercise, subject to stockholder approval.
XWELL Inc (Nasdaq: XWEL) announced key leadership changes to support its strategic growth. Ian Brown has been appointed as the new Chief Financial Officer effective January 6, 2025, replacing Suzanne Scrabis. Brown will receive stock options for 37,000 shares, vesting quarterly over one year.
The company also appointed Peter Vermeulen as Head of Human Resources and Mike Heronime as Marketing Director, both in fractional roles. These appointments align with XWELL's strategy to maintain agility while pursuing profitability.
Brown brings 25+ years of operational finance experience, Vermeulen offers 25+ years of global HR expertise from companies like TeleSign and Amazon, while Heronime contributes 25+ years of strategic marketing experience, including work with Fortune 500 companies.
XWELL (Nasdaq: XWEL) has announced its strategic business objectives for 2025, focusing on unifying its brands and accelerating growth in the wellness industry. The company plans to consolidate all wellness services under the XWELL brand, targeting both airport and non-airport locations.
Key initiatives include rebranding airport spa locations worldwide, opening seven new XWELL out-of-airport locations across Florida by the end of 2025, and expanding autonomous service capabilities like robotic manicures and massage chairs. The company aims to capitalize on the growing wellness market, projected to reach $9 trillion by 2033, with specific focus on the MedSpa industry's expected growth to $49 billion by 2030.
XWELL (Nasdaq: XWEL) announces expansion of out-of-airport spas, starting with a new Naples Wax location in Estero, Florida. The company plans to open six additional locations across Florida in the first half of 2025, including Cape Coral, Clearwater, Brandon, Orlando, Winter Park, and Melbourne. The new locations will feature elevated facial services, including LightStim® Invigorating Light Facial and DiamondGlow® Microderm Infusion Facial. This expansion is part of CEO Ezra Ernst's strategic initiative to grow beyond airports and enhance the company's spa portfolio.
XWELL Inc reported Q3 2024 results with revenue growth of 13% year-over-year to $8.4 million. The company demonstrated cost reduction initiatives, reducing total operating expenses by 35% for the nine-month period. Revenue primarily came from XpresSpa locations ($4.9M) and XpresTest ($3.1M). The company maintains a strong financial position with $4.4M in cash and $11.7M in marketable securities. Operating loss was $4.8M compared to $12.1M in Q3 2023. XWELL completed a registered direct offering in August 2024, raising $1.4M in gross proceeds.
XWELL Inc (Nasdaq: XWEL) announced it will release its third quarter 2024 financial results on Thursday, November 14, 2024, after market close. The company will host a webcast and conference call at 5:00 PM ET. Due to capacity for the conference call dial-in, investors are encouraged to access the webcast through the Investor Relations section of XWELL's website.
XWELL, Inc. (Nasdaq: XWEL) has appointed Ezra T. Ernst as its new Chief Executive Officer, succeeding Scott Milford. Ernst, with over 30 years of experience, previously led XWELL brands XpresCheck® and HyperPointe™. He aims to drive growth through innovation, expansion, and technology integration across XWELL's portfolio.
Key initiatives include evolving the company's footprint in and out of airports, integrating technology across brands, and expanding services like the Traveler-based Genomic Surveillance (TGS) program with the CDC. Ernst plans to focus on geographic expansion, acquisitions, and autonomous technology to cater to tech-savvy consumers and return the company to profitability.
XWELL (Nasdaq: XWEL) has announced a two-year partnership with Priority Pass, the leading airport experiences program. This collaboration will allow select Priority Pass members to enjoy a 25-minute Zero Gravity Massage Lounger at six XpresSpa airport locations starting August 26, 2024, with the remaining 17 US locations joining on September 16, 2024.
The partnership aims to expand XpresSpa's brand reach and provide growth opportunities. XWELL CEO Scott Milford emphasized the potential to reach a broader audience of travelers seeking comfort and relaxation. This aligns with XWELL's business strategy of leveraging autonomous services, which offer higher margins than traditional massages. The company anticipates increased revenue from this partnership.
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