XWELL, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 09/30/23 | FY 12/31/22 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $29.2M | $33.9M | $30.1M | — | $55.9M |
| Cost of revenue | $21.7M | $25.0M | $26.4M | — | $43.9M |
| Gross profit | $7.5M | $8.9M | $3.7M | — | $12.0M |
| Selling, general & administrative | $16.0M | $20.1M | $13.0M | — | $21.2M |
| Operating income | -$15.7M | -$16.7M | -$28.2M | — | -$31.2M |
| Pretax income | -$16.1M | -$16.4M | -$28.0M | — | -$32.6M |
| Income tax expense | $29,000 | $49,000 | $35,000 | — | $55,000 |
| Net income | -$17.0M | -$16.9M | -$27.7M | — | -$32.8M |
| Balance Sheet | |||||
| Cash and equivalents | $2.6M | $4.5M | $8.4M | $4.8M | $19.0M |
| Current assets | $5.9M | $15.3M | $26.6M | $30.0M | $47.3M |
| Total assets | $11.2M | $25.4M | $39.0M | $42.9M | $70.4M |
| Current liabilities | $12.9M | $9.2M | $9.3M | $8.2M | $11.0M |
| Total liabilities | $23.8M | $17.6M | $18.0M | $17.3M | $22.5M |
| Total debt | $3.4M | — | — | — | — |
| Stockholders' equity | -$22.3M | -$788,000 | $13.0M | $17.8M | $39.9M |
| Cash Flow Statement | |||||
| Cash from operations | -$8.7M | -$11.0M | -$16.1M | — | -$24.2M |
| Depreciation and amortization | $862,000 | $938,000 | $2.1M | — | $5.4M |
| Stock-based compensation | $1.1M | $893,000 | $2.3M | — | $3.8M |
| Capital expenditure | $3.0M | $1.8M | $1.9M | — | $6.5M |
| Free cash flow | -$11.7M | -$12.8M | -$18.0M | — | -$30.7M |
| Share repurchases | — | — | — | — | $23.8M |
| Impairments | $6.3M | $4.5M | $8.9M | — | $4.6M |
Shares outstanding 8.4M · Free float 46.1%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.