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XWELL (XWEL) investor relations material
XWELL Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Revenue for Q3 2025 was $7.3M, down 13% year-over-year, mainly due to lower CDC contract revenue and reduced surge billing in XpresTest and XpresSpa segments.
Net loss attributable to common shareholders for Q3 2025 was $1.47M, or $(0.26) per share, compared to a net loss of $4.75M, or $(0.99) per share, in Q3 2024.
Expanded Priority Pass partnership to international airports in the Middle East and Europe, and opened new off-airport wellness centers in Florida and New York City.
Streamlined cost structure post-quarter, reducing $2.4M in annualized staffing costs and integrating HyperPointe business.
The company continues to face substantial doubt about its ability to continue as a going concern due to recurring losses and insufficient liquidity.
Financial highlights
Q3 2025 revenue: $7.3M (down from $8.4M in Q3 2024); nine-month revenue: $22.1M (down from $26.4M in 2024).
Q3 2025 gross profit: $1.5M (down from $2.1M in Q3 2024); nine-month gross profit: $4.6M (down from $7.8M in 2024).
Q3 2025 operating loss: $0.77M (improved from $4.8M loss in Q3 2024); nine-month operating loss: $6.6M (improved from $9.0M loss in 2024).
Cash and cash equivalents at September 30, 2025: $4.0M; working capital surplus: $0.76M; marketable securities: $237,000; total current assets: $10.8M; no long-term debt.
General and administrative expenses for Q3 2025 decreased 76% year-over-year, aided by an employee retention credit.
Outlook and guidance
Management is focused on cost reduction, capital spending controls, and seeking additional financing to improve liquidity and return to profitability.
Anticipates continued growth through expanded partnerships, new locations, and operational discipline.
Positioned to capture new international growth opportunities in biosecurity at major global events.
The company does not currently have sufficient liquidity to fund operations for the next 12 months and is pursuing strategic partnerships and capital raises.
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Frequently asked questions
XWELL, Inc., formerly XpresSpa Group, Inc. is a leading spa services company in the United States and is the largest provider of spa services at airports, including locations at airports in major metropolitan cities including New York, Chicago, Miami, Atlanta and Washington D.C. The Company's strategy is to grow its revenue by expanding its network of locations and building its brand presence through a combination of organic growth and strategic acquisitions. XWELL, Inc. is headquartered in New York, New York.
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