XWELL, Inc. Reports Impairment Charges for the Third Quarter Ended September 30, 2023
November 14, 2023 at 04:30 pm EST
Share
XWELL, Inc. reported impairment charges for the third quarter ended September 30, 2023. For the quarter, the company reported non-cash goodwill and intangible asset impairment charges totaling approximately $6.8 million.
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.