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) regularly issues news updates that highlight its activities as a global wellness holding company focused on health, beauty, self-care, and biosecurity for people on the go. Company press releases cover developments across its portfolio of brands, including XpresSpa, Naples Wax Center, XpresCheck, and HyperPointe, as well as partnerships and capital markets disclosures.
Readers of this news feed can expect coverage of wellness center openings and expansions, such as new brick-and-mortar locations in Florida and the launch of a wellness retail location in New York City’s Pennsylvania Station. XWELL’s announcements describe these sites as destinations for services like facials, massages, waxing, medical and wellness services, and autonomous massage, along with wellness-focused retail tailored to travelers, commuters, and local communities.
XWELL’s news also frequently addresses its biosecurity and biosurveillance initiatives. Through XpresCheck and HyperPointe, the company reports supporting the CDC’s Traveler-based Genomic Surveillance program in association with Ginkgo Bioworks, contributing to traveler-based pathogen surveillance at U.S. airports. Recent updates describe a global biosecurity strategy that aims to extend traveler-based surveillance models to international travel hubs and large-scale mass gatherings.
In addition, XWELL issues releases about strategic partnerships and brand collaborations, including its expanded partnership with Priority Pass, which allows members to access autonomous massage and other wellness options at XWELL and XpresSpa locations in North America and select international airports. The company has also announced collaborations such as a co-branded eye mask with Ostrichpillow and a partnership naming XWELL the official wellness spa of the Orlando Magic.
Investors and observers following XWEL news will also see financial and regulatory updates, including quarterly results, Nasdaq listing compliance notices, and information about stockholder meetings and capital structure transactions. Together, these news items provide an ongoing view into how XWELL is expanding its wellness footprint, developing biosecurity programs, and managing its public company obligations.
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.
XWELL, Inc. (Nasdaq: XWEL) has adopted a Tax Benefits Preservation Plan to protect its $67.3 million in net operating losses. The plan aims to prevent a 'change of ownership' that could reduce or eliminate these tax attributes. As part of the plan, the company declared a dividend of one Series A Junior Participating Preferred Stock purchase right for each outstanding common share, payable on August 26, 2024.
The Rights become exercisable if any person or group acquires 4.99% or more of XWELL's common stock, potentially diluting the ownership of the acquiring party. The Board can exempt certain acquisitions if they don't impair the tax attributes. The Rights will expire on August 16, 2027, unless terminated earlier by the Board.
XWELL, Inc. (Nasdaq: XWEL) reported Q2 2024 results with notable highlights:
- Revenue growth of 14% year-over-year to $9.3 million
- Opened new XpresSpa in Philadelphia International Airport
- Introduced IV-hydration therapy and Ceragem massage beds in select locations
- Reduced operating expenses by 16% compared to Q2 2023
- Executed a $1.4 million registered direct offering
- Expanded Naples Wax Center services and plans for growth
- Anticipates new CDC biosurveillance contract in Q3 2024
Financial results:
- Operating loss: $1.9 million (improved from $4.7 million in Q2 2023)
- Net loss: $2.0 million (improved from $5.7 million in Q2 2023)
- Cash and cash equivalents: $5.4 million
- Marketable securities: $13.0 million
XWELL, Inc. (Nasdaq: XWEL), a leading provider of wellness solutions for travelers, has announced that CPC Pain & Wellness SPV, (CPC) has withdrawn its threatened proxy fight and related lawsuit against the company. This decision is related to XWELL's upcoming 2024 annual meeting of stockholders. Bruce Bernstein, Chairman of the Board, expressed satisfaction with CPC's withdrawal and emphasized the company's focus on executing its strategic plan to create long-term value for stockholders. He also highlighted the company's appreciation for constructive engagement with stockholders and their commitment to continuing this dialogue leading up to the 2024 Annual Meeting.
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