$XWEL
XWELL Inc

2023 Q2 Form 10-K Financial Statement

#000155837023006084 Filed on April 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $8.175M $7.560M $55.94M
YoY Change -39.88% -74.25% -24.13%
Cost Of Revenue $6.985M $7.150M $43.89M
YoY Change -43.47% -54.93% 6.06%
Gross Profit $1.190M $410.0K $12.05M
YoY Change -4.03% -96.96% -62.75%
Gross Profit Margin 14.56% 5.42% 21.54%
Selling, General & Admin $5.100M $6.980M $31.17M
YoY Change -32.52% -29.13% 28.8%
% of Gross Profit 428.57% 1702.44% 258.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $593.0K $1.100M $5.429M
YoY Change -60.49% 66.92% 69.6%
% of Gross Profit 49.83% 268.29% 45.06%
Operating Expenses $5.890M $8.070M $31.17M
YoY Change -22.07% -23.2% 28.8%
Operating Profit -$4.724M -$7.660M -$31.16M
YoY Change -39.18% -356.44% -858.78%
Interest Expense -$890.0K $140.0K -$230.0K
YoY Change 647.9% -144.16% -77.05%
% of Operating Profit
Other Income/Expense, Net -$120.0K -$1.060M -$1.131M
YoY Change -38.78% 2423.81% -5.83%
Pretax Income -$5.679M -$14.21M -$32.57M
YoY Change -28.34% -883.78% -1204.58%
Income Tax $0.00 $50.00K $55.00K
% Of Pretax Income
Net Earnings -$5.730M -$13.46M -$32.84M
YoY Change -27.63% -510.99% -1080.5%
Net Earnings / Revenue -70.09% -178.04% -58.7%
Basic Earnings Per Share -$0.07 -$0.35
Diluted Earnings Per Share -$0.07 -$0.16 -$0.35
COMMON SHARES
Basic Shares Outstanding 83.42M 83.23M 93.66M
Diluted Shares Outstanding 83.41M 93.66M

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.90M $42.20M $42.20M
YoY Change -55.14% -60.0% -60.0%
Cash & Equivalents $6.378M $19.04M $19.00M
Short-Term Investments $25.50M $23.20M $23.20M
Other Short-Term Assets $1.445M $1.122M $1.100M
YoY Change 6.09% 2.47% 0.46%
Inventory $845.0K $1.161M $1.200M
Prepaid Expenses $1.075M $1.074M
Receivables $1.934M $2.858M $2.900M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $36.13M $47.33M $47.30M
YoY Change -51.42% -56.57% -56.6%
LONG-TERM ASSETS
Property, Plant & Equipment $3.867M $3.666M $11.90M
YoY Change -51.78% -44.94% 8.24%
Goodwill $4.024M $4.024M
YoY Change 0.0%
Intangibles $3.710M $4.008M
YoY Change -25.59% 7.4%
Long-Term Investments
YoY Change
Other Assets $1.715M $2.369M $3.100M
YoY Change -29.57% -15.69% -12.95%
Total Long-Term Assets $20.46M $23.09M $23.10M
YoY Change -24.22% 26.29% 26.32%
TOTAL ASSETS
Total Short-Term Assets $36.13M $47.33M $47.30M
Total Long-Term Assets $20.46M $23.09M $23.10M
Total Assets $56.59M $70.43M $70.40M
YoY Change -44.18% -44.66% -44.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.164M $2.312M $8.000M
YoY Change -76.73% -58.23% -38.46%
Accrued Expenses $6.300M $2.600M $2.600M
YoY Change 109.51% -4.97% -4.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $9.266M $10.96M $11.00M
YoY Change -26.11% -44.74% -44.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.30M $11.50M $11.50M
YoY Change 15.93% 53.25% 53.25%
Total Long-Term Liabilities $10.30M $11.50M $11.50M
YoY Change 15.93% 53.25% 53.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.266M $10.96M $11.00M
Total Long-Term Liabilities $10.30M $11.50M $11.50M
Total Liabilities $19.59M $22.48M $30.50M
YoY Change -8.58% -17.76% -11.68%
SHAREHOLDERS EQUITY
Retained Earnings -$439.4M -$428.1M
YoY Change 7.82% 8.31%
Common Stock $833.0K $832.0K
YoY Change -12.68% -17.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.26M $39.93M $39.90M
YoY Change
Total Liabilities & Shareholders Equity $56.59M $70.43M $70.40M
YoY Change -44.18% -44.66% -44.68%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$5.730M -$13.46M -$32.84M
YoY Change -27.63% -510.99% -1080.5%
Depreciation, Depletion And Amortization $593.0K $1.100M $5.429M
YoY Change -60.49% 66.92% 69.6%
Cash From Operating Activities -$2.750M -$6.780M -$24.19M
YoY Change -59.8% -178.89% -266.11%
INVESTING ACTIVITIES
Capital Expenditures $300.0K $760.0K $6.464M
YoY Change -112.4% -127.3% 50.96%
Acquisitions $4.853M
YoY Change
Other Investing Activities -$180.0K -$23.15M -$23.15M
YoY Change -1051.11%
Cash From Investing Activities -$480.0K -$23.91M -$34.84M
YoY Change -80.16% 758.84% 575.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.79M
YoY Change 204.01%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -120.0K 280.0K -27.38M
YoY Change -95.36% -102.97% -531.13%
NET CHANGE
Cash From Operating Activities -2.750M -6.780M -24.19M
Cash From Investing Activities -480.0K -23.91M -34.84M
Cash From Financing Activities -120.0K 280.0K -27.38M
Net Change In Cash -3.350M -30.41M -86.47M
YoY Change -71.72% 740.29% -648.83%
FREE CASH FLOW
Cash From Operating Activities -$2.750M -$6.780M -$24.19M
Capital Expenditures $300.0K $760.0K $6.464M
Free Cash Flow -$3.050M -$7.540M -$30.65M
YoY Change -31.03% -166.27% -398.2%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0001410428
CY2022 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2022 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101269349
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
83232262
CY2022 dei Document Type
DocumentType
10-K
CY2022 dei Document Annual Report
DocumentAnnualReport
true
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-31
CY2022 dei Document Transition Report
DocumentTransitionReport
false
CY2022 dei Entity File Number
EntityFileNumber
001-34785
CY2022 dei Entity Registrant Name
EntityRegistrantName
XWELL, Inc.
CY2022 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2022 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
20-4988129
CY2022 dei Entity Address Address Line1
EntityAddressAddressLine1
254 West 31st Street
CY2022 dei Entity Address Address Line2
EntityAddressAddressLine2
11th Floor
CY2022 dei Entity Address City Or Town
EntityAddressCityOrTown
New York
CY2022 dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
CY2022 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10001
CY2022 dei City Area Code
CityAreaCode
212
CY2022 dei Local Phone Number
LocalPhoneNumber
750-9595
CY2022 dei Security12b Title
Security12bTitle
Common Stock, par value $0.01 per share
CY2022 dei Trading Symbol
TradingSymbol
XWEL
CY2022 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2022 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2022 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2022 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2022 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2022 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2022 dei Entity Small Business
EntitySmallBusiness
true
CY2022 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2022 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2022 dei Entity Shell Company
EntityShellCompany
false
CY2022Q2 dei Entity Public Float
EntityPublicFloat
65798587
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
83418535
CY2022 dei Auditor Firm
AuditorFirmId
688
CY2021 dei Auditor Firm
AuditorFirmId
711
CY2022 dei Auditor Name
AuditorName
Marcum llp
CY2021 dei Auditor Name
AuditorName
Friedman LLP
CY2021 dei Auditor Location
AuditorLocation
East Hanover, New Jersey
CY2022 dei Auditor Location
AuditorLocation
East Hanover, New Jersey
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19038000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
105506000
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
23153000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2858000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
615000
CY2022Q4 us-gaap Inventory Net
InventoryNet
1161000
CY2021Q4 us-gaap Inventory Net
InventoryNet
1763000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1122000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1095000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
47332000
CY2021Q4 us-gaap Assets Current
AssetsCurrent
108979000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
751000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
751000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3666000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6658000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
4008000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3732000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
8276000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4336000
CY2022Q4 us-gaap Goodwill
Goodwill
4024000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2369000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2810000
CY2022Q4 us-gaap Assets
Assets
70426000
CY2021Q4 us-gaap Assets
Assets
127266000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2312000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
5535000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
5719000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
7423000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2586000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2736000
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
339000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
549000
CY2021Q4 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
3584000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
10956000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
19827000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11521000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7504000
CY2022Q4 us-gaap Liabilities
Liabilities
22477000
CY2021Q4 us-gaap Liabilities
Liabilities
27331000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
83232262
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101269349
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
832000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
1013000
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
467740000
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
487306000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-428112000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-395275000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-534000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-312000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
39926000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
92732000
CY2022Q4 us-gaap Minority Interest
MinorityInterest
8023000
CY2021Q4 us-gaap Minority Interest
MinorityInterest
7203000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
47949000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
99935000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
70426000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
127266000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
55939000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73729000
CY2022 us-gaap Cost Direct Labor
CostDirectLabor
21437000
CY2021 us-gaap Cost Direct Labor
CostDirectLabor
13421000
CY2022 xwel Cost Of Occupancy
CostOfOccupancy
4138000
CY2021 xwel Cost Of Occupancy
CostOfOccupancy
2505000
CY2022 xwel Products And Other Operating Costs
ProductsAndOtherOperatingCosts
18316000
CY2021 xwel Products And Other Operating Costs
ProductsAndOtherOperatingCosts
25459000
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
43891000
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
41385000
CY2022 us-gaap Gross Profit
GrossProfit
12048000
CY2021 us-gaap Gross Profit
GrossProfit
32344000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5429000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3201000
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
4669000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
68000
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-834000
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-22000
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1110000
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
747000
CY2022 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31169000
CY2021 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24199000
CY2022 us-gaap Costs And Expenses
CostsAndExpenses
43211000
CY2021 us-gaap Costs And Expenses
CostsAndExpenses
28237000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-31163000
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
4107000
CY2022 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
384000
CY2021 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
43000
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-664000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-18000
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1131000
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1183000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-32574000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2949000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
55000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56000
CY2022 us-gaap Profit Loss
ProfitLoss
-32629000
CY2021 us-gaap Profit Loss
ProfitLoss
2893000
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
208000
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-456000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-32837000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
3349000
CY2022 us-gaap Profit Loss
ProfitLoss
-32629000
CY2021 us-gaap Profit Loss
ProfitLoss
2893000
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-222000
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-92000
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-32851000
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2801000
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93655331
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104306173
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93655331
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105076758
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
80371000
CY2021 xwel Cashless Exercise Of Warrants Into Common Stock Value
CashlessExerciseOfWarrantsIntoCommonStockValue
17085000
CY2021 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
379000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2856000
CY2021 us-gaap Profit Loss
ProfitLoss
2893000
CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-92000
CY2021 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
818000
CY2021 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
502000
CY2021 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
5109000
CY2021 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
7825000
CY2021 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1170000
CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
13000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
99935000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
99935000
CY2022 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
906000
CY2022 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
73000
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3770000
CY2022 us-gaap Profit Loss
ProfitLoss
-32629000
CY2022 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
23789000
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-343000
CY2022 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
956000
CY2022 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
1025000
CY2022 xwel Adjustments To Additional Paid In Capital Grant Of Stock Options For Services
AdjustmentsToAdditionalPaidInCapitalGrantOfStockOptionsForServices
103000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
47949000
CY2022 us-gaap Profit Loss
ProfitLoss
-32629000
CY2021 us-gaap Profit Loss
ProfitLoss
2893000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5429000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3201000
CY2022 xwel Impairment Of Long Lived Assets
ImpairmentOfLongLivedAssets
4559000
CY2021 xwel Impairment Of Long Lived Assets
ImpairmentOfLongLivedAssets
68000
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
110000
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1110000
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
747000
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-834000
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-22000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1844000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1719000
CY2022 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
103000
CY2021 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
379000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
3770000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
2856000
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-618000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1046000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-592000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1106000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1835000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1124000
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-933000
CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-365000
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
457000
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1251000
CY2022 xwel Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4056000
CY2021 xwel Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-1211000
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3247000
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6687000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24188000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14561000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6464000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4282000
CY2022 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
23153000
CY2021 xwel Proceeds From Acquisition Of Variable Interest Entities
ProceedsFromAcquisitionOfVariableInterestEntities
2434000
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4853000
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
373000
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
3308000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34843000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5156000
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
17085000
CY2021 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
502000
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
23789000
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7825000
CY2022 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1025000
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
818000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
13000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
73000
CY2022 xwel Repayment Of Paycheck Protection Program
RepaymentOfPaycheckProtectionProgram
3584000
CY2021 xwel Repayment Of Paycheck Protection Program
RepaymentOfPaycheckProtectionProgram
2069000
CY2022 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
956000
CY2021 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1170000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-27377000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6350000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-60000
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-86468000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15755000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
106257000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90502000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19789000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
106257000
CY2022 us-gaap Interest Paid
InterestPaid
10000
CY2021 us-gaap Interest Paid
InterestPaid
11000
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
55000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
544000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1081000
CY2022 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
906000
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Note 1. General</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Overview</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">On October 25, 2022,  <span style="white-space:pre-wrap;">the Company changed its name to XWELL, Inc. (“XWELL” or the “Company”) from XpresSpa Group, Inc. The Company’s common stock, par value </span>$0.01 per share, which had previously been listed under the trading symbol “XSPA” on the Nasdaq Capital Market, now trades under the trading symbol “XWEL” since the opening of the trading market on October 25, 2022. <span style="background:#ffffff;"> In pursuance, the Company amended and restated its certificate of incorporation filed with the Delaware Secretary of State on October 24, 2022 (the “Amended and Restated Certificate”). </span> Rebranding to XWELL aligned the Company’s corporate strategy to build a pure-play health and wellness services company, both in the airport and off airport marketplaces.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">In addition, prior to filing the Amended and Restated Certificate, the Company filed a Certificate of Elimination (the “Certificate of Elimination”) with respect to its Series A Convertible Preferred Stock, par value $0.01 per share, Series D Convertible Preferred Stock, par value $0.01 per share, Series E Convertible Preferred Stock, par value $0.01 per share, and Series F Convertible Preferred Stock, par value $0.01 per share (collectively, the “Eliminated Preferred Stock”) with the Delaware Secretary of State, becoming effective as of at 11:59 p.m., Eastern Time on October 24, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;background:#ffffff;margin:0pt;"> </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">The Certificate of Elimination (i) eliminated the previous designation of 6,968 shares of Series A Convertible Preferred Stock, none of which were outstanding at the time of filing, (ii) eliminated the previous designation of 500,000 shares of Series D Convertible Preferred Stock, none of which were outstanding at the time of filing, (iii) eliminated the previous designation of 2,397,060 shares of Series E Convertible Preferred Stock, none of which were outstanding at the time of filing, (iv) eliminated the previous designation of 9,000 shares of Series F Convertible Preferred Stock, none of which were outstanding at the time of filing, (v) caused such shares of Eliminated Preferred Stock to resume the status of authorized but unissued shares of preferred stock of the Company and (vi) eliminated all reference to the Eliminated Preferred Stock from the Company’s Certificate of Incorporation filed with the Secretary of State of the State of Delaware and effective prior to the effective time of the Amended and Restated Certificate.</p><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;padding-top:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-size:10pt;">XWELL is a global travel health and wellness services holding company. XWELL currently has </span><span style="font-size:10pt;">four</span><span style="font-size:10pt;"> reportable operating segments: XpresSpa</span><sup style="font-size:5.62pt;line-height:100%;top:0pt;vertical-align:top;background:#ffffff;">®</sup><span style="font-size:10pt;">, XpresTest, Treat</span><sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;background:#ffffff;">™</sup><span style="font-size:10pt;">, and HyperPointe which was acquired in January 2022.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">XWELL’s subsidiary, XpresSpa Holdings, LLC (“XpresSpa”) has been a global airport retailer of spa services through its XpresSpa spa locations, offering travelers premium spa services, including massage, nail and skin care, as well as spa and travel products. Most of XpresSpa spa locations were closed between March 2020 and September 2021, largely due to the  airport traffic remaining at insufficient levels to support operations at a unit level. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">During the period between March 2020 and September 2021, when the Company was unable to reopen its spa locations for normal operations, the Company in partnership  with certain COVID-19 testing partners, successfully launched its XpresCheck Wellness Centers through its XpresTest, Inc. subsidiary (“XpresTest”), offering testing services, also in airports.  XpresTest offers COVID-19 and other medical diagnostic testing services to the traveling public, as well as airline, airport and concessionaire employees, and TSA and U.S. Customs and Border Protection agents. XpresTest has entered into managed services agreements (“MSAs”) with professional medical services companies that provide health care services to patients. The medical services companies pay XpresTest a monthly fee to operate in the XpresCheck Wellness Centers. Under the terms of the MSAs, XpresTest provides office space, equipment, supplies, non-licensed staff, and management services in return for a management fee. Effective July 1, 2021, the Company determined that the medical service companies are variable interest entities (“VIEs”) due to their equity holders having sufficient capital at risk; and the Company having a variable interest in and being a primary beneficiary of the medical service companies. During 2022, as countries continued to relax their testing requirements resulting in rapid decline of  testing volumes at Company’s  </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">XpresCheck locations, the Company closed all but one XpresCheck Wellness Centers. Therefore, as of the date of this report, there is only one operating XpresCheck location operating in one airport.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Treat segment, which is operating through XWELL’s subsidiary Treat, Inc. (“Treat”) is a travel health and wellness brand that provides access to health and wellness services for travelers at on-site centers (currently located in JFK International Airport and in Salt Lake City International Airport).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">By the third quarter of 2022, it became clear that the Treat business was underperforming and as a result, we began to retool the offerings within the Treat locations by providing additional retail as part of our retail strategy expansion as well as lay the foundation to bring more spa-like services into the Treat location in an attempt to unify our core offering.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">By the fourth quarter of 2022, the decision was made to close the pre-security Treat location at Phoenix Sky Harbor Airport.  As of March 31, 2023, the Treat brand operates 2 locations (JFK International Airport and Salt Lake City International Airport).  These remaining Treat locations offer a full retail product offering and a suite of wellness and spa services.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company’s HyperPointe segment, which the Company acquired in January 2022 (<i style="font-style:italic;">see Note 10.</i> <i style="font-style:italic;">Acquisition of HyperPointe</i>), provides a broad range of service and support options for our customers, including technical support services and advanced services.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Basis of Presentation and Principles of Consolidation</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company, all entities that are wholly owned by the Company, and all entities in which the Company has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">HyperPointe Acquisition</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In January 2022, the Company announced and closed on the acquisition of gcg Connect, LLC d/b/a HyperPointe.  </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The purchase price in the transaction consisted of $7,121 in cash and $906 in common stock, offset by the settlement of intercompany accounts payable of $770 as well as potential additional earn-out payments of up to $7,500 over a three-year timeframe based upon future performance; these earn-out payments may be satisfied in cash or common stock or a combination thereof subject to various terms and conditions. As of the acquisition date, and as of December 31, 2022, the Company believes that the fair value of the potential earnout payment is $0. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">HyperPointe currently operates as a new operating segment within XWELL. The chief executive officer of HyperPointe before the Company’s acquisition, continues to serve as the chief executive officer of HyperPointe, as well as serving as the chief executive officer of XpresCheck.  See <i style="font-style:italic;">Note 10. Acquisition of HyperPointe</i> for related discussion.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Liquidity and Financial Condition</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As of December 31, 2022, the Company had approximately $19,038 of cash and cash equivalents, $23,153 in marketable securities, and total current assets of approximately $47,332. The Company's total current liabilities balance, which includes accounts payable, deferred revenue, accrued expenses, and operating lease liabilities was approximately $10,956 as of December 31, 2022. The working capital surplus was $36,376 as of December 31, 2022, compared to a working capital surplus of  $89,152 as of December 31, 2021. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company has significantly reduced operating and overhead expenses in the second half of 2022, while it continues to focus on returning to overall profitability. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company has taken actions to improve its overall cash position and access to liquidity through equity offerings and debt retirements, by exploring valuable strategic partnerships, right sizing its corporate structure and streamlining its operations. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"> <span style="visibility:hidden;">​</span></p>
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19038000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
47332000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
10956000
CY2022Q4 xwel Working Capital
WorkingCapital
36376000
CY2021Q4 xwel Working Capital
WorkingCapital
89152000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">(b) Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from such estimates. Significant items subject to such estimates and assumptions include the Company’s long-lived assets, intangibles assets, the useful lives of the Company’s intangible assets, the valuation of stock-based compensation, deferred tax assets and liabilities, income tax uncertainties, and other contingencies.</p>
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-664000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-18000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1885000
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2022 xwel Net Loss Attributable To Common Shareholders
NetLossAttributableToCommonShareholders
-32837000
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
110000
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
4559000
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
110000
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1110000
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
68000
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
747000
CY2021 xwel Net Loss Attributable To Common Shareholders
NetLossAttributableToCommonShareholders
3349000
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-32837000
CY2021 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3349000
CY2022 xwel Net Loss Attributable To Common Shareholders
NetLossAttributableToCommonShareholders
-32837000
CY2021 xwel Net Loss Attributable To Common Shareholders
NetLossAttributableToCommonShareholders
3349000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93655331
CY2022 us-gaap Advertising Expense
AdvertisingExpense
4645000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
2817000
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">(bb) Reclassification</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Certain balances in the 2021 consolidated financial statements have been reclassified to conform to the presentation in the 2022 consolidated financial statements, primarily the separate classification and presentation of accounts payable, gross profits, impairments and loss on disposal of assets. Such reclassifications did not have a material impact on the consolidated financial statements.</p>
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104306173
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93655331
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105076758
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6283367
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
40473979
CY2022Q4 us-gaap Cash
Cash
16344000
CY2021Q4 us-gaap Cash
Cash
102560000
CY2022Q4 xwel Currency Other Than Us Dollars
CurrencyOtherThanUsDollars
2562000
CY2021Q4 xwel Currency Other Than Us Dollars
CurrencyOtherThanUsDollars
2133000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
751000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
751000
CY2022Q4 us-gaap Credit And Debit Card Receivables At Carrying Value
CreditAndDebitCardReceivablesAtCarryingValue
132000
CY2021Q4 us-gaap Credit And Debit Card Receivables At Carrying Value
CreditAndDebitCardReceivablesAtCarryingValue
813000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19789000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
106257000
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
16069000
CY2021Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
103339000
CY2022Q4 xwel Cash Held In Overseas Accounts
CashHeldInOverseasAccounts
2562000
CY2021Q4 xwel Cash Held In Overseas Accounts
CashHeldInOverseasAccounts
2113000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1074000
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1047000
CY2022Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
48000
CY2021Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
48000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1122000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1095000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10666000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13398000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7000000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6740000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3666000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6658000
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
4559000
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
68000
CY2022 us-gaap Depreciation
Depreciation
3663000
CY2021 us-gaap Depreciation
Depreciation
2754000
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.00
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2061259
CY2022 xwel Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableInPeriodWeightedAverageGrantDateFairValue
2.56
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1353888
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
104000
CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
722000
CY2022Q4 us-gaap Leveraged Lease Investment
LeveragedLeaseInvestment
1973000
CY2021Q4 us-gaap Leveraged Lease Investment
LeveragedLeaseInvestment
2030000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
292000
CY2021Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
58000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2369000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2810000
CY2022Q4 us-gaap Leveraged Lease Investment
LeveragedLeaseInvestment
1973000
CY2021Q4 us-gaap Leveraged Lease Investment
LeveragedLeaseInvestment
2030000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6352000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2344000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4008000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5341000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1609000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3732000
CY2022 xwel Amortization And Impairment Of Intangible Assets
AmortizationAndImpairmentOfIntangibleAssets
1766000
CY2021 xwel Amortization And Impairment Of Intangible Assets
AmortizationAndImpairmentOfIntangibleAssets
447000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1503000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1462000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
411000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
317000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
77000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
238000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4008000
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
3.82
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1668297
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.56
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
8334
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.53
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
183230
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
4092000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
4230000
CY2022 xwel Right Of Use Asset Obtained In Exchange For New And Modified Operating Lease Liability
RightOfUseAssetObtainedInExchangeForNewAndModifiedOperatingLeaseLiability
6891000
CY2021 xwel Right Of Use Asset Obtained In Exchange For New And Modified Operating Lease Liability
RightOfUseAssetObtainedInExchangeForNewAndModifiedOperatingLeaseLiability
3646000
CY2021 xwel Right Of Use Asset Surrendered In Exchange For Termination Of Operating Lease Liability
RightOfUseAssetSurrenderedInExchangeForTerminationOfOperatingLeaseLiability
9000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3479000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3153000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2676000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1618000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1495000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4389000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
16810000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2703000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
14107000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y11M23D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0769
CY2022 us-gaap Variable Lease Payment
VariableLeasePayment
1392000
CY2021 us-gaap Variable Lease Payment
VariableLeasePayment
576000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
3917000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
2069000
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1110000
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
747000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
1.61
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
3750
CY2021 xwel Share Based Compensation Arrangement By Share Based Payment Award Vested Options Expired Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedOptionsExpiredWeightedAverageGrantDateFairValue
50.8
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2826871
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.57
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1024694
CY2022Q3 xwel Threshold Value Of Share Repurchases
ThresholdValueOfShareRepurchases
1000000
CY2022Q3 xwel Number Of Equal Quarterly Vesting Installment
NumberOfEqualQuarterlyVestingInstallment
4
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3770000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2856000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2826871
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.57
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2350338
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.46
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
245027
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
1.55
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
102153
CY2022 xwel Share Based Compensation Arrangement By Share Based Payment Award Vested Options Expired Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedOptionsExpiredWeightedAverageGrantDateFairValue
6.05
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4830029
CY2021 xwel Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableInPeriodWeightedAverageGrantDateFairValue
3.81
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M29D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M15D
CY2022Q4 xwel Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Vested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndVestedIntrinsicValue
0
CY2021Q4 xwel Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Vested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndVestedIntrinsicValue
545000
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2022Q4 xwel Number Of Locations Operated
NumberOfLocationsOperated
2
CY2022 us-gaap Revenues
Revenues
55939000
CY2021 us-gaap Revenues
Revenues
73729000
CY2022Q4 xwel Long Lived Assets
LongLivedAssets
18794000
CY2021Q4 xwel Long Lived Assets
LongLivedAssets
14497000
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2022 us-gaap Revenues
Revenues
55939000
CY2021 us-gaap Revenues
Revenues
73729000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-31163000
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
4107000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5429000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3201000
CY2022Q4 xwel Property Plant Equipment Capital Expenditure
PropertyPlantEquipmentCapitalExpenditure
6293000
CY2021Q4 xwel Property Plant Equipment Capital Expenditure
PropertyPlantEquipmentCapitalExpenditure
8671000
CY2022Q4 xwel Long Lived Assets
LongLivedAssets
18794000
CY2021Q4 xwel Long Lived Assets
LongLivedAssets
14497000
CY2022Q4 us-gaap Assets
Assets
70426000
CY2021Q4 us-gaap Assets
Assets
127266000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
68000
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
747000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2022Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
963000
CY2021Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
845000
CY2022Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
2008000
CY2021Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
2862000
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
573000
CY2021Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
603000
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
160000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
754000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
431000
CY2022Q4 xwel Accrued Liability For Unredeemed Gift Cards
AccruedLiabilityForUnredeemedGiftCards
496000
CY2021Q4 xwel Accrued Liability For Unredeemed Gift Cards
AccruedLiabilityForUnredeemedGiftCards
494000
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
930000
CY2022Q4 xwel Credit Card Processing Fees
CreditCardProcessingFees
33000
CY2021Q4 xwel Credit Card Processing Fees
CreditCardProcessingFees
501000
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
732000
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
757000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
5719000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
7423000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-32445000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
3137000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-129000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-188000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-32574000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2949000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
41000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
56000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
14000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
55000
CY2021 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
56000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-32574000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2949000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 xwel Effective Income Tax Rate Reconciliation Tax Credits And Adjustments Other Amount
EffectiveIncomeTaxRateReconciliationTaxCreditsAndAdjustmentsOtherAmount
6841000
CY2021 xwel Effective Income Tax Rate Reconciliation Tax Credits And Adjustments Other Amount
EffectiveIncomeTaxRateReconciliationTaxCreditsAndAdjustmentsOtherAmount
-619000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
706000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1516000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7014000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-10946000
CY2022 xwel Effective Income Tax Reconciliation Adjustment Joint Venture Basis
EffectiveIncomeTaxReconciliationAdjustmentJointVentureBasis
339000
CY2021 xwel Effective Income Tax Reconciliation Adjustment Joint Venture Basis
EffectiveIncomeTaxReconciliationAdjustmentJointVentureBasis
4445000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
341000
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1104000
CY2022 xwel Effective Income Tax Rate Reconciliation Nondeductible Expense Return To Provision Adjustment Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseReturnToProvisionAdjustmentAmount
-94000
CY2021 xwel Effective Income Tax Rate Reconciliation Nondeductible Expense Return To Provision Adjustment Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseReturnToProvisionAdjustmentAmount
2403000
CY2022 xwel Income Tax Reconciliation Change In State Deferred Rate
IncomeTaxReconciliationChangeInStateDeferredRate
-570000
CY2022 xwel Income Tax Reconciliation Asset Impairment Adjustment
IncomeTaxReconciliationAssetImpairmentAdjustment
-810000
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-31000
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
915000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
55000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
51932000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
48556000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1029000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
507000
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
7298000
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
4235000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
60259000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
53298000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60259000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
53298000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60259000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
64245000
CY2021Q4 xwel Deferred Tax Assets Return To Provision Trueup
DeferredTaxAssetsReturnToProvisionTrueup
2403000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
53298000
CY2022Q4 xwel Deferred Tax Assets Return To Provision Trueup
DeferredTaxAssetsReturnToProvisionTrueup
-97000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60259000
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
150926000
CY2021 xwel Net Operating Loss Expiration
NetOperatingLossExpiration
P20Y
CY2021Q4 xwel Operating Loss Carry Forwards Without Limitation
OperatingLossCarryForwardsWithoutLimitation
75045000

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
xwel-20221231x10k_htm.xml Edgar Link completed
0001558370-23-006084-index-headers.html Edgar Link pending
0001558370-23-006084-index.html Edgar Link pending
0001558370-23-006084.txt Edgar Link pending
0001558370-23-006084-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
xwel-20221231.xsd Edgar Link pending
xwel-20221231x10k.htm Edgar Link pending
xwel-20221231xex21.htm Edgar Link pending
xwel-20221231xex23d1.htm Edgar Link pending
xwel-20221231xex23d2.htm Edgar Link pending
xwel-20221231xex31d1.htm Edgar Link pending
xwel-20221231xex31d2.htm Edgar Link pending
xwel-20221231xex32.htm Edgar Link pending
xwel-20221231_cal.xml Edgar Link unprocessable
xwel-20221231_lab.xml Edgar Link unprocessable
xwel-20221231_def.xml Edgar Link unprocessable
xwel-20221231_pre.xml Edgar Link unprocessable