Every 10-Q that XWELL, Inc. (XWEL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow XWEL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full XWEL filings page.
XWELL, Inc. reported Q2 2026 revenue of $7.1 million, down modestly from $7.7 million a year earlier, with six‑month revenue at $13.8 million versus $14.7 million in 2025. XpresTest drove most profit, while XpresSpa posted an operating loss and Naples Wax was modestly profitable.
The company recorded a Q2 2026 net loss attributable to common shareholders of $2.2 million and a six‑month loss of $13.4 million, significantly higher than the prior year, and used $9.1 million of cash in operating activities. However, a February 2026 private placement of $31.3 million of Series H preferred stock and warrants, netting $28.3 million, plus a $9.0 million repurchase of Series G preferred stock, notes and warrants, sharply reduced debt and derivative liabilities. Total liabilities fell to $12.3 million from $23.8 million, and total equity swung from a deficit of $12.8 million to positive $8.3 million.
Cash, cash equivalents and restricted cash increased to $12.3 million, and management states it believes current liquidity and expected cash flows are sufficient for at least the next twelve months. Subsequent to quarter‑end, XWELL agreed to sell its airport‑based XpresSpa and XpresTest entities for approximately $13.0 million in cash, pending shareholder approval, marking a strategic shift toward non‑airport wellness activities such as Naples Wax Center.
XWELL, Inc. reported a larger loss in the three months ended March 31, 2026 while materially improving its liquidity through new financing and liability reductions. Revenue was $6,638 thousand versus $7,023 thousand a year earlier, mainly from its XpresSpa, XpresTest and Naples Wax Center segments.
Net loss attributable to XWELL, Inc. was $11,202 thousand, compared with $4,719 thousand in the prior-year quarter, as higher general and administrative expenses and a $5,584 thousand loss from changes in derivative fair value weighed on results. Cash and cash equivalents rose to $16,800 thousand from $2,617 thousand after a February 2026 private placement of Series H Convertible Preferred Stock and warrants that generated net proceeds of $28,269 thousand.
The company used about $9,000 thousand of these proceeds to repurchase Series G preferred stock, convertible notes and warrants, simplifying its capital structure. Working capital swung to a surplus of $11,358 thousand from a deficit of $6,982 thousand, and management states it believes current cash and expected operating cash flows are sufficient to fund operations for at least the next twelve months.
XWELL, Inc. reported lower Q3 2025 results and disclosed “substantial doubt” about its ability to continue as a going concern. Revenue was $7,345k (down from $8,422k), with a net loss of $724k versus a $4,750k loss a year earlier as operating expenses fell. Year to date, the company recorded a net loss of $6,851k.
Liquidity remains tight. Cash and cash equivalents were $3,987k at September 30, 2025, while net cash used in operating activities was $8,671k for the nine months. The balance sheet shows total assets of $21,742k, liabilities of $18,345k, and temporary equity of $331k from the Series G preferred.
In January 2025, XWELL raised $4,000k via Series G convertible preferred and issued Series A and B warrants for a combined 5,347,594 shares. The preferred carries an 8% dividend and is scheduled for six equal quarterly redemptions beginning July 1, 2025. As of November 11, 2025, 5,766,703 common shares were outstanding.
XWELL, Inc. reported financing and capital structure changes in its Form 10-Q. The company completed a $4.0 million private placement that issued 4,000 Series G Convertible Preferred shares (stated value $1,000 each) initially convertible into up to 2,673,797 common shares and issued Series A and B warrants to acquire up to 2,673,797 shares each. The Series G is classified as mezzanine equity, carries a liquidation preference of $3.6 million as of June 30, 2025, and is required to be redeemed in six equal quarterly installments beginning July 1, 2025, with options to pay amortization in cash at 107% or, subject to limits, in common stock at specified valuation mechanics. The company must maintain unrestricted cash equal to at least 200% of stated value plus accrued amounts. The warrants were amended and reclassified from liability to equity with a $2.7 million fair value reclassified to additional paid-in-capital on May 16, 2025. XWELL operates three segments: XpresSpa, XpresTest and Naples Wax Center. Several fair-value valuations and derivative bifurcations under ASC guidance are described in the filing.