xspa - XSPA STOCK NEWS

XpresSpa Group (Nasdaq: XSPA) is expanding its COVID-19 variant surveillance program at major airports, including Hartsfield-Jackson Atlanta International Airport, to detect the Omicron variant. This initiative, a collaboration with the CDC and Ginkgo Bioworks, offers free PCR tests upon arrival and at-home specimen collection kits. Following the recent travel restrictions announced due to Omicron, this program aims to ensure public health through effective biosurveillance, leveraging XpresCheck's experience in airport-based testing.

XpresSpa Group, Inc. (Nasdaq: XSPA) reported its best quarterly financial results in company history for Q3 2021, achieving a record revenue of $26.8 million and net income of $5.6 million. This performance is attributed to the success of XpresCheck, which significantly surpassed expectations amid a resurgence in travel. Total year-to-date revenues reached $44.4 million. The company also maintains a strong liquidity position with $109.2 million in cash. Looking ahead, XpresSpa targets an annualized revenue of $500 million by 2025.

XpresSpa Group, Inc. (Nasdaq: XSPA) will report its third quarter 2021 financial results on November 15, 2021, after market close. Following this, a webcast and conference call will take place at 4:30 PM ET. XpresSpa operates multiple health and wellness brands, including Treat, XpresCheck, and XpresSpa. The company emphasizes its commitment to accessible healthcare and COVID-19 testing through its airport locations, where it has 14 testing sites. Investors can access the call via the company's Investor Relations website.

XpresSpa Group (Nasdaq: XSPA) announced the conversion of a legacy XpresSpa in Hartsfield-Jackson Atlanta International Airport to an XpresCheck COVID-19 testing facility. Set to open in mid-October, the facility will have six testing rooms and a capacity for over 400 tests per day, offering both Rapid Molecular and Rapid PCR tests. CEO Doug Satzman highlighted the increased demand for testing amid resuming travel and emphasized Atlanta's historical significance as a strong market for the company.

XpresSpa Group, a health and wellness company trading under the ticker XSPA, announced its participation in the Jefferies Virtual Fitness & Wellness Summit on September 15, 2021. The company will host meetings with institutional investors, with a presentation beginning at 9 AM ET. Earlier this week, XpresSpa provided an overview and long-term revenue projections for its three brands—Treat, XpresCheck, and XpresSpa—on its Investor Relations webpage. XpresCheck specializes in COVID-19 testing at airports, with locations in 11 domestic airports, while XpresSpa offers spa services in 21 airports globally.

XpresSpa Group (Nasdaq: XSPA) announced its participation in the H.C. Wainwright 23rd Annual Global Investment Virtual Conference from September 13-15, 2021. CEO Doug Satzman will present an overview of the company and its long-term revenue projections, targeting $500 million by the end of 2025. An updated presentation, detailing their business insights and distinct brands—Treat, XpresCheck, and XpresSpa—has been added to the Investor Relations section of their website. This event offers an opportunity for investors to engage with the company.

XpresSpa Group (Nasdaq: XSPA) has authorized a stock repurchase program for up to 15 million shares of its outstanding common stock. This decision reflects the company's confidence in its long-term prospects and the perceived undervaluation of its stock. The XpresCheck™ COVID-19 testing business showed increased testing volume and higher margin rapid tests in July, contributing to higher practice fees. The buyback may occur through various means and is set to expire on September 15, 2022, unless extended.

XpresSpa Group (XSPA) reported significant growth in Q2 2021, achieving $9.1 million in net revenue, primarily driven by $8.7 million from XpresCheck. MSA practice patient fees surged to $17.1 million from $6.3 million in Q1. Notably, the company reduced its net loss to $4.7 million, a substantial improvement from $58.5 million in the previous year. With a strong liquidity position of $102.5 million, XpresSpa is poised for further growth, planning to reopen additional locations and launch Phases 2 and 3 of its Treat brand, enhancing integrated health services for travelers.

XpresSpa Group has launched the Treat™ mobile app, offering travel, health, and wellness updates along with on-demand virtual care for Treat™ members. The app, available on both app stores, allows users to schedule appointments at Treat Wellness Centers and access health records.

Membership includes unlimited virtual care, annual COVID-19 testing, flu vaccinations, and exclusive offers. The app is designed to serve as a virtual wellness concierge for travelers, facilitating healthcare access conveniently as travel resumes.