XWELL, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 05:06 pm EST
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XWELL, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 7.47 million compared to USD 10.74 million a year ago. Net loss was USD 9.92 million compared to USD 7.18 million a year ago. Basic loss per share from continuing operations was USD 2.38 compared to USD 1.52 a year ago.
For the nine months, revenue was USD 22.71 million compared to USD 48.38 million a year ago. Net loss was USD 21.16 million compared to USD 19.38 million a year ago. Basic loss per share from continuing operations was USD 5.07 compared to USD 3.99 a year ago.
XWELL, Inc. is a global health and wellness holding company. The Company operates through four segments: XpresTest, XpresSpa, Treat, and Naples Wax Center. The XpresTest segment provides diagnostic COVID-19 tests at XpresCheck Wellness Centers in airports, to airport employees and to the traveling public but has transitioned to the centers for disease control and prevention (CDCâs) bio-surveillance program. XpresTestâs HyperPointe business provides a range of service and support options for its customers, including technical support services and advanced services. The XpresSpa segment provides travelers premium spa services, including massage, nail and skin care, as well as spa and travel products. Treat segment is a wellness brand that provides access to wellness services for travelers at on-site centers. Naples Wax Center segment operates three high-performing locations with core products and service offerings from face and body waxing to a range of skincare and cosmetic products.