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.
