8-K - XWELL, Inc. (0001410428) (Filer)
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NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the appoint of Ezra T. Ernst as Chief Executive Officer. Ernst succeeds Scott Milford, who will serve in a consultative role through the end of 2024. "Ezra brings the combination of operational and strategic excellence to the position, while also having a deep understanding of the company, the industry and key partners," said XWELL Chairman of the Board, Bruce Bernstein. "This strategic leadership change will propel XWELL forward in its next phase. I trust that Ezra will deliver purpose-driven growth for XWELL through c
NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced a two-year partnership with Priority Pass™, the world's original and leading airport experiences program. Through this partnership, select Priority Pass members can enjoy a 25-minute Zero Gravity Massage Lounger at JFK, MIA, MCO, SLC, DFW, and PHL XpresSpa airport locations beginning August 26, 2024. The remainder of XpresSpa's 17 US locations will begin participating in the program beginning September 16, 2024. "This partnership allows XWELL to reach a broader audience of travelers seeking the elevated level of comfort
NEW YORK, Aug. 16, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) (the "Company") announced today that its Board of Directors has adopted a Tax Benefits Preservation Plan (the "Plan") intended to preserve the value of certain of the Company's tax attributes related to previously recorded net operating losses (the "Tax Attributes"). As of August 16, 2024, the Company has Tax Attributes which may entitle the Company to reduce taxable income with respect to the Company's current 2024 tax year. The Company currently has approximately $67.3 million of net operating losses available to offset taxable income. However, these Tax Attributes may be materially reduced or eliminated by a "cha
NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today reported results for the second quarter ended June 30, 2024. Recent Highlights: XWELL delivered 2024 second quarter revenue growth of approximately 14% from the comparable quarter in 2023 driven by stronger demand for services and retail products.In June, XpresSpa opened a new spa in Philadelphia International Airport -- its first in a U.S. airport in more than 5 years and the first to leverage the Company's "labor-lite, tech-forward" offering.In June, the CDC issued a new three-year biosurveillance program RFP which XpresTest is
NEW YORK, Aug. 13, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today issued the following statement in response to CPC Pain & Wellness SPV, LLC's ("CPC") decision to withdraw its threatened proxy fight and related lawsuit against XWELL, in connection with the Company's 2024 annual meeting of stockholders (the "2024 Annual Meeting"). Bruce Bernstein, Chairman of the Board stated, "We are pleased that CPC decided to withdraw its threatened proxy fight and lawsuit against XWELL related to our 2024 Annual Meeting. Looking ahead, we are fully focused on delivering on our strategic plan to drive durable,
NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the closing of its previously announced registered direct offering priced at a premium to market for the issuance and sale of an aggregate of 652,705 shares of its common stock, par value $0.01 per share, at a purchase price of $2.18 per share. The gross proceeds to the Company from the offering were approximately $1.4 million, before deducting other offering expenses payable by the Company. The Company intends to use the net proceeds of this offering for working capital and general corporate purposes. The shares of
NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 652,705 shares of its common stock, par value $0.01 per share, at a purchase price of $2.18 per share in a registered direct offering priced at a premium to market. The closing of the offering is expected to occur on or about August 8, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds to the Company from the offering are expected to be approximately $1.4 million, before deducting other offering
The sole focus of CPC's position and lawsuit against XWELL's entrenched Board of Directors (the "Entrenched Directors") is to provide shareholders with an opportunity to elect a competing slate of directors to XWELL's existing Board at the next annual shareholder meeting.Under the leadership of the incumbent Board, led by Chairman Bruce Bernstein, XWELL has reported a combined net operating loss of $207.3 million from 2018 through 2023.Since February 2016, XWELL's common stock has declined in value by approximately 99%—from $1,788 per share (accounting for subsequent reverse stock splits) to $1.85 per share as of July 23, 2024. During the period of XWELL's near complete loss of value, the En
Calls on CPC to Update its Deficient 13D Filing to Include Accurate and Transparent Information About its Plan for Obtaining a Majority of the Board and its Recently Filed Litigation Stockholders Are Not Required to Take Any Action at This Time XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced that the notice materials submitted by CPC Pain & Wellness SPV, LLC ("CPC"), which purported to provide notice of CPC's intent to nominate four candidates for election to the Company's five-member Board of Directors (the "Board") at the 2024 Annual Meeting of Stockholders, is invalid. CPC, a special purpose vehicle that
NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the grand opening of its newest XpresSpa location in Philadelphia International Airport (PHL). With more than 28 million passengers annually, the new PHL XpresSpa represents an exciting opportunity to drive revenue growth with its labor lite and tech forward offerings. "A major travel hub in the northeast United States, Philadelphia International Airport represents an important expansion in our domestic XpresSpa business," said XWELL Chief Executive Officer, Scott Milford. "We are excited about this new location in PHL,
NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the appoint of Ezra T. Ernst as Chief Executive Officer. Ernst succeeds Scott Milford, who will serve in a consultative role through the end of 2024. "Ezra brings the combination of operational and strategic excellence to the position, while also having a deep understanding of the company, the industry and key partners," said XWELL Chairman of the Board, Bruce Bernstein. "This strategic leadership change will propel XWELL forward in its next phase. I trust that Ezra will deliver purpose-driven growth for XWELL through c
NEW YORK, Dec. 15, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the appointment of Gaëlle Wizenberg to the Company's Board of Directors, effective January 1, 2024. The Company also announced that Donald Stout, who joined XWELL's Board of Directors in 2012, will be retiring from his position. "Gaëlle's appointment as an Independent Director adds tremendous depth to XWELL's Board of Directors as we collectively support the Company's plans for profitable growth," commented Bruce Bernstein, XWELL's Chairman of the Board. "Her entrepreneurial mindset and broad expertise in consumer, r
NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced a new brand identity and website redesign for its airport spa brand XpresSpa™, which will now be visually represented as Xpres Spa®. Coinciding with Xpres Spa's 20th anniversary, the new website launch and logo aligns with management's ongoing focus to improve the user experience and drive sales growth in its flagship airport business. The Xpres Spa rebrand reflects the Company's continued effort to bring restorative, regenerative and reinvigorating products and services to travelers, strengthening its market position
NEW YORK, July 13, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL), an authority in health and wellness solutions for people on the go, today announced the appointment of Suzanne A. Scrabis as Chief Financial Officer of the Company, effective July 10, 2023. Suzanne brings to the Company more than 25 years of deep financial and operating experience across all stages of growth. "As CFO of MAVERICK Technologies for over a decade, Suzanne has an established track record of driving profitable growth, seamlessly integrating acquisitions and efficiently operating companies at scale," commented Scott Milford, XWELL's Chief Executive Officer. "She's an excellent choice as XWELL's new CFO and we
Jonathan Schechter and Robert Weinstein Join Oblong's Board of Directors Oblong, Inc. (NASDAQ:OBLG) ("Oblong" or the "Company"), the award-winning maker of multi-stream collaboration solutions, today appointed two new directors to its board. Jonathan Schechter, Partner, The Special Equities Group, and Robert Weinstein, Chief Financial Officer, Synaptogenix, Inc. have joined Oblong's board of directors. In addition, Jim Lusk and Matthew Blumberg have retired from the Oblong board. "We're delighted to welcome Jonathan and Robert to the Oblong board of directors," said Pete Holst, President and CEO. "Both individuals bring a wealth of knowledge in mergers and acquisitions, digital transfor
NEW YORK, Aug. 16, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) (the "Company") announced today that its Board of Directors has adopted a Tax Benefits Preservation Plan (the "Plan") intended to preserve the value of certain of the Company's tax attributes related to previously recorded net operating losses (the "Tax Attributes"). As of August 16, 2024, the Company has Tax Attributes which may entitle the Company to reduce taxable income with respect to the Company's current 2024 tax year. The Company currently has approximately $67.3 million of net operating losses available to offset taxable income. However, these Tax Attributes may be materially reduced or eliminated by a "cha
NEW YORK, April 16, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today reported results for the year ended December 31, 2023. Recent Highlights: The Company's airport XpresSpa business segment delivered revenue growth of approximately 39% versus 2022.The Company continued growing internationally with the opening of its 11th XpresSpa location in the Abu Dhabi International Airport.XWELL is opening an XpresSpa location in Penn Station, located in the heart of New York City's newly revitalized PENN DISTRICT.The Company continues to expand outside of the airport with plans for multiple new Naples Wax C
NEW YORK, April 16, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced that it will report results for the year ended December 31, 2023, on Tuesday, April 16, 2024, after the market close. The announcement will be followed by a webcast and conference call at 5:00 p.m. ET. The Company encourages investors, and interested parties, to listen via webcast as there is a limited capacity to access the conference call by dialing 1-412-317-6026. The live and later archived webcast can be accessed from the Investor Relations section of the Company's website at https://www.xwell.com. Visitors to the
NEW YORK, Sept. 12, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company") today announced the acquisition of Naples Wax, LLC ("Naples Wax Center"), a group of upscale hair removal boutiques in Florida. In a transaction valued at approximately $1.5 million, the acquisition allows the Company to expand outside the airport and is intended to increase revenue and drive profitability. "This is a great day for XWELL as we move wellness outside the airport and advance our strategic objective to grow our business serving a completely new set of customers," said XWELL Chief Executive Officer Scott Milford. "The addition of Naples Wax Center enables us to move beyond our air
NEW YORK, Aug. 14, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in health and wellness solutions for people on the go, today reported results for the second quarter ended June 30, 2023. Financial and Business Highlights: Second quarter 2023 revenue at the Company's XpresSpa business increased approximately 59% versus the same quarter in 2022.Second quarter 2023 Operating Expenses decreased approximately 13% sequentially and decreased approximately 52% from the same quarter in 2022. This progress demonstrates the positive effect of the Company's cost-savings initiatives and focus on delivering a leaner, more profitable XpresSpa busin
NEW YORK, Aug. 07, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in health and wellness solutions for people on the go, today announced that it will release second quarter 2023 financial results on Monday, August 14, 2023, after the market close. The announcement will be followed by a webcast and conference call at 5:00 p.m. ET. The Company encourages investors, and interested parties, to listen via webcast as there is a limited capacity to access the conference call by dialing 1-412-317-6060. The live and later archived webcast can be accessed from the Investor Relations section of the Company's website at https://www.xwell.com. Visitors to
NEW YORK, May 15, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in health and wellness solutions for people on the go, today reported results for the first quarter ended March 31, 2023. Business Highlights:Reflecting management's commitment to better serve clients, optimize efficiencies, and deliver long-term growth: First quarter 2023 revenue at the Company's XpresSpa business increased over 70% versus the 2022 first quarter.Demonstrating the effect of the Company's cost-savings initiatives and deliver a leaner, more profitable XpresSpa business, first quarter 2023 general and administrative expenses decreased 12.7% sequentially and decrease
NEW YORK, May 11, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in health and wellness solutions for people on the go, today announced that it will release first quarter 2023 financial results on Monday, May 15, 2023, after the market close. The announcement will be followed by a webcast and conference call at 5:00 p.m. ET. The Company encourages investors, and interested parties, to listen via webcast as there is a limited capacity to access the conference call by dialing 1-412-317-6060. The live and later archived webcast can be accessed from the Investor Relations section of the Company's website at https://www.xwell.com. Visitors to the w
NEW YORK, April 17, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL), an authority in health and wellness solutions for people on the go, today reported results for the year ended December 31, 2022. Business Highlights:We're continuing to evolve our organization and, reflecting the Company's commitment to better serve clients, optimize efficiencies, and deliver long-term growth, management has recently: Opened 5 XpresSpa locations at Turkey's Istanbul Airport; additional growth in Abu Dhabi during the third quarter of 2023.Opening new XpresSpa at Philadelphia International Airport in 2023.Scaled new retail products and integrated innovative health and wellness technologies, includi
NEW YORK, April 14, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in health and wellness solutions for people on the go, today announced that it will release fiscal year 2022 financial results on Monday, April 17, 2023, after the market close. The announcement will be followed by a webcast and conference call at 5:00 p.m. ET. The Company encourages investors, and interested parties, to listen via webcast as there is a limited capacity to access the conference call by dialing 1-201-689-8263. The live and later archived webcast can be accessed from the Investor Relations section of the Company's website at https://www.xwell.com. Visitors to the
The sole focus of CPC's position and lawsuit against XWELL's entrenched Board of Directors (the "Entrenched Directors") is to provide shareholders with an opportunity to elect a competing slate of directors to XWELL's existing Board at the next annual shareholder meeting.Under the leadership of the incumbent Board, led by Chairman Bruce Bernstein, XWELL has reported a combined net operating loss of $207.3 million from 2018 through 2023.Since February 2016, XWELL's common stock has declined in value by approximately 99%—from $1,788 per share (accounting for subsequent reverse stock splits) to $1.85 per share as of July 23, 2024.During the period of XWELL's near complete loss of value, the Ent
XWELL (NASDAQ:XWEL) reported quarterly losses of $(0.60) per share. This is a 57.14 percent increase over losses of $(1.40) per share from the same period last year. The company reported $8.73 million in sales this quarter. This is a 23.55 percent increase over sales of $7.06 million the same period last year.
XWELL (NASDAQ:XWEL) reported $8.70 million in sales this quarter. This is a 23.18 percent increase over sales of $7.06 million the same period last year.
XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the introduction of IV hydration drip therapy at its Miami International Airport (MIA) XpresSpa® location. In partnership with Revitalize IV Lounge ("Revitalize"), the new service, which offers a fast and efficient way to deliver vitamins, minerals, and amino acids directly into the bloodstream, is available in MIA's North Terminal, Concourse D, Gate D-11. "A popular and effective treatment to replenish our body's essential nutrients, IV hydration drip therapy is a compelling addition to our XpresSpa menu of services and provides yet another opportunity to drive more
Summary Fiscal Year 2023 Financial ResultsTotal revenue during fiscal year ended December 31, 2023, was $30.1 million compared to $55.9 million in the prior year.
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