reports
- Thierry Wuilloud
Progress on the Cost-Control Front in 3Q23; Aiming for Profitability i...
XWELL reported revenues of $7.5 million, consisting primarily of $5.0 million from XpresSpa and Treat locations, and $2.4 million from XpresTest, which includes XWELL’s biosurveillance unit and HyperPointe. Naples Wax Center revenue contribution was nominal as the acquisition closed near the end of the quarter. Importantly, XWELL’s G&A expenses decreased 35% Y/Y. Management believes it is now on track to bring the business to profitability in 2024 through revenue growth and further cost control....
- Thierry Wuilloud
Review of the Naples Wax Center Acquisition with CEO Scott Milford and...
XWELL’s recently acquired Naples Wax Center business provides the company with a tested platform to grow its business outside of the airport. The business focuses on hair removal services in three locations. Management sees room to grow locations (possibly eight to 10 additional locations in the next 12 to 18 months) and the offering beyond hair removal by adding other skin care services (e.g. facials and Botox treatments). Naples Wax Center has an attractive recurring revenue model whereby mor...
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