XWELL (XWEL) Company Report

For the third quarter ended September 30, 2025, XWELL, Inc. reported revenue of $7.3 million, an operating loss of $0.8 million, and a net loss attributable to XWELL of $0.7 million , ,.
As of September 30, 2025, the company had approximately $4.0 million of cash and cash equivalents (excluding restricted cash), $10.8 million in total current assets, and no long-term debt.
Subsequent to the third quarter, XWELL streamlined its cost structure, reducing approximately $2.4 million in annualized staffing costs ,.
XWELL expanded its Priority Pass partnership to key international airports across the Middle East and Europe and secured a three-year extension of its Traveler-based Genomic Surveillance Program with the CDC in March 2025 ,.
The company is also expanding its physical footprint with new off-airport wellness centers in Florida and a Penn Station location in New York City set to open in mid-November ,.

Nov 14, 2025, 9:31 PM

XWELL Modifies Series G Preferred Stock and Exchanges for Convertible Notes

XWEL

Convertible Preferred Issuance

Debt Issuance

XWELL, Inc. completed an exchange on November 10, 2025, converting a portion of its Series G Convertible Preferred Stock, including $1,553,806.00 in accrued dividends, into senior secured convertible notes totaling $3,387,138.80.
Concurrently, the company filed a Certificate of Amendment on November 7, 2025, to modify the terms of its Series G Convertible Preferred Stock, notably reducing the conversion price to $1.00.
The amendments also removed a restrictive covenant that required XWELL to maintain cash and cash equivalents equal to at least 200% of the common stock issuable upon conversion of the Series G Preferred Stock.
New anti-dilution provisions were added, subjecting the Series G Conversion Price to adjustment if common stock or convertible securities are issued below the then-applicable Series G Conversion Price.

Nov 14, 2025, 9:06 PM

XWELL, Inc. Exchanges Preferred Stock for Convertible Notes and Amends Securities

XWEL

Debt Issuance

Convertible Preferred Issuance

XWELL, Inc. entered into a Securities Exchange and Amendment Agreement on November 3, 2025, to exchange a portion of its outstanding Series G Convertible Preferred Stock, including $1,553,806.00 in accrued dividends, for Senior Secured Convertible Notes with an aggregate principal amount of $3,387,138.80.
The conversion price for the Series G Convertible Preferred Stock was reduced from $1.496 to $1.00.
The exercise price for the Series A and Series B Warrants was also reduced to $1.00, and anti-dilution provisions were added.
The new Senior Secured Convertible Notes are secured by a first priority security interest in the company's assets and include covenants requiring the company to maintain $1,000,000 in unencumbered cash and deposit $1,350,000 into a segregated account.
XWELL, Inc. is required to hold a stockholder meeting by December 31, 2025, to seek approval for the issuance of common stock upon conversion of the Notes and the terms of the amended preferred stock and warrants, particularly for issuances exceeding 19.99% of outstanding shares at prices below the Nasdaq "Minimum Price".