Filing Flows › Xwell (XWEL) › Q1 2026 › vs Q4 2025
Xwell (XWEL) Q1 2026 vs Q4 2025 (quarter over quarter)
Xwell's revenue fell $516K (-7%) from $7.2M in Q4 2025 to $6.6M in Q1 2026. The biggest changes: XpresSpa −$453K (-10%); Naples Wax −$94K (-15%); XpresTest +$31K (+2%).
Xwell, Q1 2026: revenue $6.6M (-6% year over year), operating margin -81.6%, net loss $11.0M, operating cash flow −$4.6M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| XpresSpa | $4.2M | $4.7M | −$453K | -10% |
| XpresTest | $1.9M | $1.9M | $31K | +2% |
| Naples Wax | $524K | $618K | −$94K | -15% |
| Revenue | $6.6M | $7.2M | −$516K | -7% |
| Net loss | $11.0M | $9.3M | $1.8M | +19% |
| Costs & expenses | $17.6M | $16.4M | $1.2M | +8% |
| Operating costs | $12.1M | $16.2M | −$4.2M | -26% |
| Interest & other, net | $5.6M | $212K | $5.4M | 26× |
| Cost of revenue | $4.3M | $4.2M | $51K | +1% |
| SG&A | $7.6M | $5.9M | $1.7M | +30% |
| Other operating costs | $172K | $6.1M | −$5.9M | -97% |
| Operating cash sources | $11.0M | $9.3M | $1.8M | +19% |
| Depreciation & amortization | $172K | $288K | −$116K | -40% |
| Share-based compensation | $886K | $163K | $723K | +444% |
| Working capital & other | $5.4M | $8.8M | −$3.4M | -39% |
| Cash used in operations | $4.6M | $42K | $4.6M | 110× |
| Net loss absorbed | $11.0M | $9.3M | $1.8M | +19% |
Questions
How much did Xwell's revenue grow quarter over quarter in Q1 2026?
Xwell's revenue fell $516K (-7%) from $7.2M in Q4 2025 to $6.6M in Q1 2026.
What drove Xwell's revenue change in Q1 2026?
XpresSpa −$453K (-10%); Naples Wax −$94K (-15%); XpresTest +$31K (+2%).