XpresSpa Q3 2024 Earnings Report
Key Takeaways
XWELL, Inc. reported a revenue of $8.4 million for the third quarter of 2024, compared to $7.5 million for the 2023 third quarter. The operating loss was approximately $4.8 million, compared with an operating loss of approximately $12.1 million for the 2023 third quarter. Net loss attributable to XWELL was approximately $4.8 million, compared to approximately $11.5 million for the 2023 third quarter.
Total revenue for the third quarter ended September 30, 2024, was $8.4 million, compared to $7.5 million for the 2023 third quarter.
Revenue for the 2024 third quarter primarily consisted of approximately $4.9 million from XpresSpa locations and Treat locations and approximately $3.1 million from XpresTest, which includes XWELL’s bio-surveillance partnership and its HyperPointe business.
The operating loss was approximately $4.8 million, compared with an operating loss of approximately $12.1 million for the 2023 third quarter.
As of September 30, 2024, the Company had approximately $4.4 million of cash and cash equivalents and approximately $11.7 million in marketable securities.
XpresSpa
XpresSpa
Forward Guidance
XWELL believes it's well-positioned for a strong 2025 and remains confident that its consistent strategy execution will benefit its customers, partners, employees, and shareholders.