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Jun 30, 2022
XpresSpa Q2 2022 Earnings Report
Reported second quarter results, demonstrating progress on strategic imperatives and securing a significant CDC biosurveillance contract.
Key Takeaways
XpresSpa Group reported a revenue increase to $13.6 million compared to $9.1 million in the corresponding period in 2021. The company's net loss attributable to common shareholders was $7.9 million, compared to $4.5 million in the prior year second quarter. XpresCheck was awarded a new CDC contract valued up to $61 million.
XpresCheck awarded new CDC biosurveillance contract valued up to $61 million.
26 spas currently open globally with another five scheduled to open in the third quarter of this year, including first location in Turkey’s Istanbul Airport.
New retail strategy to drive more foot traffic into airport locations and online platform.
Planning to refresh the look and appearance of Spa locations later this year and extending into 2023, and also plan to open third Treat location in Salt Lake City, Utah in late Q3.
Forward Guidance
XpresSpa Group is focused on creating a strong retail engine, optimizing capital, and managing sustainable growth. They are planning to refresh Spa locations and open a new Treat location in Salt Lake City.
Positive Outlook
- Strong retail engine creation.
- Capital optimization.
- Sustainable growth management.
- Refreshing Spa locations look.
- Opening new Treat location in Salt Lake City.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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