NASDAQ$XWEL

XpresSpa Group Inc · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Reported fiscal year 2023 results, focusing on revenue growth and strategic expansion.

XWELL, Inc. reported fiscal year 2023 results, highlighting revenue of $30.1 million, driven by XpresSpa, Treat locations, and XpresTest. The company is focused on expanding wellness services, growing internationally, and extending its reach beyond airports.

  • Total revenue for fiscal year 2023 was $30.1 million.
  • Non-cash goodwill and intangible asset impairment charges totaled approximately $8.9 million.
  • The company is expanding its wellness portfolio, including new locations for Naples Wax Center.
  • XWELL is focused on improving operating performance and achieving profitability.

Headline financials

Total Revenue

$7.4M

Previous: $7.56M-2.1%
EPS (adj)

-$1.57

Previous: -$3.00+47.7%
Total operating expenses

$31.9M

No prior period
General and administrative

$13M

No prior period
Capital Expenditures

-$266K

Previous: $667K-139.9%
Net Income

-$28M

Previous: -$32.8M+14.6%
Operating Income

-$28.2M

Previous: -$31.2M+9.6%
Gross Profit

$583K

Previous: $410K+42.2%
Stock-Based Comp

$487K

Previous: $424K+14.9%

Revenue & EPS history

XpresSpa · Revenue · Quarterly

$7.4M

Q4 2023-2.1%vs Q4 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 remains committed to improving operating performance, reaching profitability, and delivering long-term strategic priorities, including expanding its wellness portfolio and extending its reach across transportation hubs.

Tailwinds

  • Expanding wellness portfolio with additional expansion into transportation hubs.
  • Launching TreatStudios, a new platform for independent wellness providers.
  • Opening a new XpresSpa location in Penn Station.
  • Opening additional Naples Wax Center locations in 2024.
  • Expanding the CDC's Traveler-based Genomic Surveillance program to test for more pathogens.

Headwinds

  • Unaudited financial statements for Q3 2023 should no longer be relied upon due to misapplication of GAAP.
  • Prior reports, press releases, earnings releases, and investor presentations covering Q3 2023 should no longer be relied upon.
  • Goodwill and intangible asset impairment charges totaling approximately $8.9 million.
  • Operating loss for 2023 was approximately $28.2 million.
  • Net loss attributable to XWELL was approximately $28.0 million for 2023.

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 Q4 2023

Historical avgQ4 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———

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