Reports 1Q23 Results; Early Steps on the Way Back to Profitability
XWELL reported 1Q23 revenue of $7.1 million, compared with $7.6 million in 4Q22, which is a reasonable performance given that the first quarter tends to be seasonally slow. The spa business contributed $4.7 million, helped by growth in international spas. The XpresTest segment, which included the CDC program and the one remaining XpresCheck location, contributed $1.8 million, while HyperPointe contributed $0.6 million... The appointment of Valerie Lightfoot as CFO is a positive sign with respect to the successful execution of these strategic initiatives.
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