Filing Flows › Xwell (XWEL) › Q1 2025
Xwell (XWEL) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 20, 2025
Xwell (XWEL) reported revenue of $7.0M for the first quarter 2025 (Q1 2025), -20% from a year earlier and -6% from the quarter before. Operating margin was -45.0%, net loss $4.6M (65.3% of revenue).
Xwell, Q1 2025: revenue $7.0M (-20% year over year), operating margin -45.0%, net loss $4.6M, operating cash flow −$4.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.0M | -6% | -20% |
| Operating profit | −$3.2M | — | — |
| Net earnings | −$4.6M | — | — |
| Operating cash flow | −$4.2M | — | — |
What changed
Revenue was $7.0M in Q1 2025, down 20% year over year and down 6% from the previous quarter. XpresSpa was the largest line at 61% of revenue. XpresTest lost $1.5M year over year (down 40%), 86% of the total change.
Gross margin was 18.8%, down 11.8 points from a year earlier. Operating costs exceeded revenue by $3.2M, an operating margin of -45.0%. Operating expenses fell 11% while revenue fell 20%. The quarter ended with a net loss of $4.6M, narrower than the previous quarter's $7.6M loss.
Operating cash flow was −$4.2M. Non-cash charges added back $166K of depreciation and amortization and $83K of share-based compensation. Capital expenditures of $424K exceeded it, leaving free cash flow of −$4.6M.
Questions
What was Xwell's revenue in the first quarter 2025?
Xwell (XWEL) reported revenue of $7.0M for the first quarter 2025 (Q1 2025), -20% from a year earlier and -6% from the quarter before.
Was Xwell profitable in the first quarter 2025?
Operating loss was $3.2M (-45.0% of revenue) and net loss $4.6M.
Source: Xwell 10-Q on SEC EDGAR.