Quarterly ResultMay 20, 2026, 04:13 PM
XWELL Q1 Net Loss $(11.2M); $28.3M Private Placement Boosts Cash
AI Summary
XWELL, Inc. reported a net loss of $(11.2) million for the first quarter of 2026, an increase from $(4.7) million in the prior year, with total revenue decreasing to $6.6 million. Despite the increased loss, the company significantly improved its liquidity and capital structure through a February 2026 private placement of Series H Convertible Preferred Stock and warrants, which generated $28.3 million in net proceeds. A portion of these proceeds, $9.0 million, was used to repurchase Series G Preferred Stock, convertible notes, and warrants, leading to a substantial increase in cash and cash equivalents to $16.8 million and a shift from a total equity deficit to positive equity.
Key Highlights
- Net proceeds of $28.3 million from February 2026 private placement of Series H Preferred Stock.
- Repurchased $9.0 million of Series G Preferred Stock, convertible notes, and warrants.
- Net loss attributable to XWELL, Inc. increased to $(11.2) million from $(4.7) million year-over-year.
- Basic and diluted loss per share was $(1.51) compared to $(1.00) in Q1 2025.
- Total revenue decreased 5.5% to $6.6 million from $7.0 million in Q1 2025.
- Cash and cash equivalents surged to $16.8 million from $2.6 million at year-end 2025.
- Total equity shifted to $10.1 million from a $(12.8) million deficit at year-end 2025.
- Gross profit increased 78.4% to $2.4 million from $1.3 million in Q1 2025.
Price Impact
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