XWEL · Xwell, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.64M | - | $7.34M | $7.69M | $7.02M | - | $8.42M | $9.28M | $8.73M | - |
| Cost of Revenue | $4.29M | - | $5.85M | $5.91M | $5.70M | - | $6.37M | $6.20M | $6.05M | - |
| Gross Profit | $2.35M | - | $1.49M | $1.77M | $1.32M | - | $2.05M | $3.08M | $2.67M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $7.59M | - | $1.55M | $4.28M | $4.31M | - | $4.53M | $3.18M | $2.09M | - |
| Total Operating Expenses | $7.77M | - | $2.26M | $4.47M | $4.48M | - | $6.82M | $4.97M | $5.05M | - |
| D&A | $172.0K | - | $221.0K | $187.0K | $166.0K | - | $252.0K | $228.0K | $225.0K | - |
| Operating Income | ($5.41M) | - | ($770.0K) | ($2.69M) | ($3.16M) | - | ($4.77M) | ($1.89M) | ($2.38M) | - |
| Interest Expense | $53.0K | - | - | - | - | - | - | - | - | - |
| Income Tax | - | - | $2.0K | $34.0K | - | - | - | - | - | - |
| Net Income | ($11.20M) | - | ($724.0K) | ($2.27M) | ($4.72M) | - | ($4.75M) | ($2.00M) | ($2.51M) | - |
| EPS - Basic | ($1.51) | - | ($0.26) | ($0.56) | ($1.00) | - | ($0.99) | ($0.48) | ($0.60) | - |
| EPS - Diluted | ($1.51) | - | ($0.26) | ($0.56) | ($1.00) | - | ($0.99) | ($0.48) | ($0.60) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16.80M | $2.62M | $3.99M | $5.26M | $3.65M | $4.55M | $4.37M | $5.42M | $4.32M | $8.44M |
| Accounts Receivable | $1.32M | $1.56M | $1.48M | $1.47M | $1.50M | $1.79M | $914.0K | $2.38M | $2.90M | $1.67M |
| Inventory | $453.0K | $509.0K | $516.0K | $560.0K | $532.0K | $501.0K | $669.0K | $871.0K | $834.0K | $900.0K |
| Accounts Payable | $3.54M | $2.84M | $3.14M | $1.86M | $2.21M | $1.61M | $2.70M | $2.78M | $2.02M | $1.10M |
| Current Assets | $19.75M | $5.91M | $10.81M | $11.83M | $14.84M | $15.34M | $19.51M | $23.14M | $24.46M | $26.57M |
| Total Assets | $24.99M | $11.22M | $21.74M | $22.45M | $24.83M | $25.35M | $33.78M | $36.29M | $37.48M | $38.99M |
| Current Liabilities | $8.39M | $12.89M | $10.06M | $9.48M | $8.86M | $9.22M | $9.85M | $10.44M | $9.19M | $9.33M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $14.91M | $23.80M | $18.34M | $18.32M | $21.40M | $17.61M | $18.96M | $19.06M | $18.71M | $18.02M |
| Stockholders' Equity | $389.0K | ($22.26M) | ($6.33M) | ($5.18M) | ($5.79M) | ($788.0K) | $6.30M | $8.80M | $10.57M | $13.00M |
| Retained Earnings | ($500.90M) | ($489.70M) | ($480.42M) | ($479.69M) | ($477.43M) | ($472.71M) | ($465.11M) | ($460.36M) | ($458.37M) | ($455.85M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($4.60M) | - | - | - | ($4.18M) | - | - | - | ($3.68M) | - |
| Investing Cash Flow | ($390.0K) | - | - | - | ($470.0K) | - | - | - | ($371.0K) | - |
| Financing Cash Flow | $19.19M | - | - | - | $3.75M | - | - | - | - | - |
| CapEx | $390.0K | - | - | - | $424.0K | - | - | - | $291.0K | - |
| Free Cash Flow | ($4.99M) | - | - | - | ($4.60M) | - | - | - | ($3.97M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 35.4% | - | 20.3% | 23.1% | 18.8% | - | 24.4% | 33.2% | 30.6% | - |
| Operating margin | -81.6% | - | -10.5% | -35.0% | -45.0% | - | -56.6% | -20.4% | -27.3% | - |
| EBITDA margin | -79.0% | - | -7.5% | -32.6% | -42.6% | - | -53.6% | -17.9% | -24.7% | - |
| Net margin | -168.8% | - | -9.9% | -29.5% | -67.2% | - | -56.4% | -21.5% | -28.8% | - |
| Free cash flow margin | -75.2% | - | - | - | -65.5% | - | - | - | -45.5% | - |
| FCF / Net income | 0.45 | - | - | - | 0.98 | - | - | - | 1.58 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 114.4% | - | 21.2% | 55.7% | 61.4% | - | 53.7% | 34.3% | 24.0% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -44.8% | - | -3.3% | -10.1% | -19.0% | - | -14.1% | -5.5% | -6.7% | - |
| Return on equity | -2879.7% | - | 11.4% | 43.8% | 81.4% | - | -75.3% | -22.7% | -23.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.35 | 0.46 | 1.08 | 1.25 | 1.68 | 1.66 | 1.98 | 2.22 | 2.66 | 2.85 |
| Quick ratio | 2.30 | 0.42 | 1.02 | 1.19 | 1.62 | 1.61 | 1.91 | 2.13 | 2.57 | 2.75 |
| Cash ratio | 2.00 | 0.20 | 0.40 | 0.56 | 0.41 | 0.49 | 0.44 | 0.52 | 0.47 | 0.90 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -102.2x | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 64.25 | -0.50 | -3.43 | -4.33 | -4.28 | -32.17 | 5.36 | 4.12 | 3.54 | 3.00 |
| Liabilities / Assets | 0.60 | 2.12 | 0.84 | 0.82 | 0.86 | 0.69 | 0.56 | 0.53 | 0.50 | 0.46 |
| Efficiency | ||||||||||
| Asset turnover | 0.27 | - | 0.34 | 0.34 | 0.28 | - | 0.25 | 0.26 | 0.23 | - |
| Inventory turnover | 9.46 | - | 11.34 | 10.56 | 10.72 | - | 9.52 | 7.12 | 7.26 | - |
| Days sales outstanding | 72d | - | 74d | 70d | 78d | - | 40d | 94d | 121d | - |
| Days inventory outstanding | 39d | - | 32d | 35d | 34d | - | 38d | 51d | 50d | - |
| Days payable outstanding | 301d | - | 196d | 115d | 141d | - | 155d | 164d | 122d | - |
| Cash conversion cycle | -190d | - | -90d | -11d | -29d | - | -77d | -19d | 50d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 21.9x | - | - | - | - | - | 1.3x | 0.9x | 0.7x | - |
| P / S | 1.3x | - | 0.8x | 0.6x | 0.8x | - | 1.0x | 0.8x | 0.8x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -5.5% | - | -12.8% | -17.2% | -19.5% | - | 12.8% | 13.5% | 23.5% | - |
| Revenue CAGR (3y) | -2.0% | - | -35.0% | -17.3% | -33.7% | - | -32.0% | 0.7% | 0.8% | - |
| Revenue CAGR (5y) | -4.9% | - | -10.1% | -9.8% | -1.9% | - | -7.6% | -6.4% | -6.5% | - |
| Gross profit growth (YoY) | 78.4% | - | -27.3% | -42.4% | -50.6% | - | 47.0% | 148.3% | -70.3% | - |
| Operating income growth (YoY) | -71.4% | - | 83.9% | -42.2% | -32.7% | - | 54.5% | 59.9% | 62.2% | - |
| Net income growth (YoY) | -137.4% | - | 84.8% | -13.7% | -87.9% | - | 52.1% | 65.2% | 54.4% | - |
| EPS growth (YoY) | -51.0% | - | 73.7% | -16.7% | -66.7% | - | 58.4% | -585.7% | -757.1% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -8.5% | - | - | - | -15.8% | - | - | - | 45.3% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | -2725.1% | - | - | - | - | -67.5% | -69.9% | -69.7% | -67.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$29.21M totalXpresspa$18.65M · 63.8%
Xprestest$8.25M · 28.2%
Naples Wax$2.31M · 7.9%
Product / service
$29.21M totalService$26.27M · 89.9%
Product$2.94M · 10.1%
Geographic
$29.21M totalUS$23.42M · 80.2%
Non Us$5.79M · 19.8%
Peer comparison
Same SIC group: Services-Personal Services
Comparing XWELL against the 5 most active filers in the same SIC group.