Recent Operating Highlights
Revenue for the 2025 third quarter totaled $7.3 million.
Cost of sales decreased approximately 8% from the 2024 third quarter.
General and administrative expenses, excluding one-time credits, decreased approximately 32% from the 2024 third quarter.
The Company's Priority Pass partnership has been expanded to key international airports across the Middle East and Europe, providing travelers with broader access to XWELL's wellness offerings.
The Company continues its plans to grow beyond the airport with the opening of new brick-and-mortar locations at Bloomingdale Square in Brandon, Florida, and Waterford Lakes Town Center in Orlando, Florida.
In New York City, XWELL's Penn Station location is set to open in mid-November, offering a convenient grab-and-go destination with wellness essentials designed to meet the needs of busy commuters.
Subsequent to the end of the third quarter XWELL streamlined its cost structure, reducing approximately $2.4 million in annualized staffing costs.
"We believe we are making meaningful progress against our priorities from diversifying access points, elevating brand relevance, and engaging with consumers wherever wellness matters the most," said Ezra Ernst, CEO of XWELL. "Our expanded partnership with Priority Pass builds on the tremendous response we've seen from travelers across our U.S. airport spas, while the openings of off-airport wellness centers in Penn Station and several Florida markets demonstrate how XWELL is successfully extending its services to customers where they live, work, and travel. Supported by our long-standing CDC partnership, ongoing operational discipline and targeted growth strategy, I am confident in the opportunities that lie ahead for XWELL."
Reduced Corporate Infrastructure XWELL also announced today that subsequent to the end of the 2025 third quarter, it implemented targeted actions to streamline its corporate cost structure, including removing approximately $2.4 million in annualized staffing costs. Additionally, as part of this initiative to optimize resources and align operations around its most critical business priorities, the Company integrated its HyperPointe™ business into existing operations. This action is anticipated to deliver meaningful cost savings while maintaining XWELL's digital platform and AI capabilities, which are critical for supporting future growth.
"Following the end of the third quarter, we took decisive steps to streamline our cost structure and align operations around our most critical growth priorities," Ezra Ernst added. "While decisions like these are never easy, with our operational foundation and infrastructure now ...
