NASDAQ$XWEL

XpresSpa Group Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

XWELL reported second quarter results, showing a decrease in revenue and operating expenses.

XWELL reported a decrease in revenue due to the closure of XpresCheck locations, offset by cost-saving initiatives that led to lower operating expenses. The company is focused on improving operating performance and investing in growth.

  • Total revenue was $8.2 million, compared to $13.6 million in the prior year second quarter.
  • Cost of sales decreased to approximately $7.0 million compared to $12.4 million in the second quarter of 2022.
  • Operating expenses decreased to approximately $5.9 million compared to $9.0 million for the second quarter of 2022.
  • Net loss attributable to common shareholders was approximately $5.7 million compared to $7.9 million in the second quarter of 2022.

Headline financials

Total Revenue

$8.18M

Previous: $13.6M-39.9%
EPS (adj)

-$1.40

Previous: -$0.08-1650.0%
Capital Expenditures

-$1.24M

Previous: -$4.06M+69.6%
Free Cash Flow

-$6.97M

Previous: -$12M+41.9%
Net Income

-$5.73M

Previous: -$7.92M+27.6%
Operating Income

-$4.72M

Previous: -$7.77M+39.2%
Gross Profit

$1.19M

Previous: $1.24M-4.0%
Cash & Equivalents

$6.4M

Previous: $71.1M-91.0%
Total Assets

$31.9M

Previous: $101M-68.5%
Stock-Based Comp

$626K

Previous: $1.32M-52.6%

Revenue & EPS history

XpresSpa · Revenue · Quarterly

$8.18M

Q2 2023-39.9%vs Q2 2022
Beat estimate in 3 of 10 quarters(30%)
ActualEstimate

Revenue by segment

XpresSpa · $6.64M total across 3 segments · Q1 2026

  • XpresSpa
    $4.2M
  • XpresTest
    $1.92M
  • Naples Wax
    $524K

Forward guidance

XWELL is focused on transforming into a leading wellness services provider, expanding its spa brand, and developing businesses outside the airport.

Tailwinds

  • Cost-savings initiatives are benefiting the company.
  • Plans to transform XWELL into a leading wellness services provider.
  • Expansion of spa brand.
  • Acquisition and development of businesses outside the airport.
  • Opening new XpresSpa location in Abu Dhabi during the fourth quarter of 2023.

Headwinds

  • Decline in revenue was primarily related to the relaxation of COVID-19 testing requirements.
  • Closure of XpresCheck locations.
  • Loss from operations for the second quarter of 2023 was approximately $4.7 million.
  • Net loss attributable to common shareholders was approximately $5.7 million.
  • Continued focus on cost-saving initiatives may impact growth investments.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2023

Historical avgQ2 2023

+1.1%

Avg return

Earnings day

-2.3%

Avg return

5 days after

-4.5%

Avg return

30 days after

43%

16 / 37 earnings

Positive

+24.4%

Q4 2019

Best reaction

-11.1%

Q4 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026
Q3 2025+0.0%-8.4%-9.6%
Q2 2025-5.8%-8.3%-8.3%
Q1 2025+1.2%+12.8%+9.3%
Q4 2024+0.0%+0.0%+15.4%
Q3 2024-1.2%-10.6%-24.1%
Q2 2024+3.7%+0.5%-14.8%
Q1 2024+3.4%-8.4%+41.6%
Q4 2023+0.0%+0.7%+32.1%
Q3 2023+6.2%+35.4%+31.1%
Q2 2023-4.2%-4.2%-25.0%
Q1 2023+0.0%+4.2%+4.2%
Q4 2022+6.3%-9.4%-21.9%
Q3 2022+0.0%-12.3%-10.5%
Q2 2022-6.5%-5.4%+9.7%
Q1 2022-1.1%-18.7%-22.0%
Q4 2021+8.2%+52.0%+11.2%
Q3 2021+11.7%+13.1%+25.5%
Q2 2021-6.9%-13.1%-2.9%
Q4 2020+6.4%-3.5%-20.8%
Q3 2020-1.1%-13.4%-22.5%
Q2 2020-6.5%-4.2%-42.9%
Q1 2020-7.5%-5.5%+6.5%
Q4 2019+24.4%+26.8%+17.1%
Q3 2019+2.0%-5.9%-41.6%
Q2 2019+0.0%+21.2%+31.9%
Q1 2019+7.8%-9.0%-40.0%
Q4 2018+0.3%-12.0%-22.7%
Q3 2018+0.0%+0.0%+11.1%
Q2 2018+0.0%-25.0%-20.0%
Q1 2018-4.8%-31.7%-20.6%
Q4 2017-11.1%-24.7%-17.3%
Q3 2017-0.8%-4.0%-6.5%
Q2 2017+11.5%+4.4%+9.7%
Q1 2017+4.9%+1.9%+5.6%
Q4 2016+0.9%-9.7%-20.8%
Q3 2016+0.8%-8.0%-15.6%
Q2 2016-1.9%-1.0%+1.9%
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q3 2012
Q2 2012
Q1 2012
Q4 2011
Q3 2011

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro