XWELL, Inc. (XWEL) Income Statement
XWEL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsXWEL revenue and net income
Where XWEL's revenue goes
2025Each bar shows an amount and its share of revenue. XWEL kept −58.2% of revenue as net income.
XWEL profit margins
XWEL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −13.8% | −19.5% | +28.4% | +2.6% |
| Gross profit | −25.5% | −18.0% | — | +7.1% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
XWEL quarterly EPS vs estimates
Next report: November 13, 2026.
XWEL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.2M | $33.9M | $30.1M | $55.9M | $73.7M | $8.4M | $48.5M | $50.1M | $48.8M | $19.0M |
| Cost of revenue | $22.6M | $25.0M | $26.4M | $43.9M | $41.4M | $12.0M | $37.9M | $39.5M | $39.3M | $12.8M |
| Gross profit | $6.6M | $8.9M | $3.7M | $12.0M | $32.3M | −$3.6M | $10.7M | $10.6M | $9.5M | $6.2M |
| Research & development | — | — | — | — | — | — | — | — | — | $681,000 |
| Sales, general & admin | $16.0M | $20.1M | $20.9M | $31.2M | $24.2M | $15.9M | $14.3M | $16.2M | $16.6M | $14.1M |
| Total operating expenses | $16.0M | $25.6M | $31.9M | $43.2M | $28.2M | $36.5M | $26.5M | $25.7M | $24.6M | $28.6M |
| Operating income | −$9.4M | −$16.7M | −$28.2M | −$31.2M | $4.1M | −$40.1M | −$15.9M | −$34.7M | −$15.1M | −$22.4M |
| Interest income | $661,000 | $380,000 | $448,000 | $384,000 | $43,000 | — | — | — | — | — |
| Interest expense | $134,000 | $179,000 | $321,000 | $462,000 | $2.4M | $1.8M | $2.9M | $1.8M | $731,000 | $1.7M |
| Income before taxes | −$16.1M | −$16.4M | −$28.0M | −$32.6M | $2.9M | −$92.2M | −$20.7M | −$35.9M | −$16.0M | −$24.0M |
| Income taxes | $29,000 | $49,000 | $35,000 | $55,000 | $56,000 | $7,000 | −$146,000 | −$278,000 | $111,000 | $13.6M |
| Net income | −$17.0M | −$16.9M | −$27.7M | −$32.8M | $3.3M | −$90.5M | −$21.2M | −$37.2M | −$28.8M | −$24.0M |
| EBITDA | −$14.2M | −$9.8M | −$15.7M | −$17.3M | $8.1M | −$17.5M | −$10.3M | −$24.6M | −$8.4M | −$16.3M |
| EPS (diluted) | −$2.80 | −$3.20 | −$6.64 | −$3.85 | $0.03 | −$6.88 | −$20.08 | −$447.09 | −$609.60 | −$94.21 |
| Gross margin | 22.7% | 26.3% | 12.2% | 21.5% | 43.9% | −42.9% | 22.0% | 21.2% | 19.4% | 32.4% |
| Operating margin | −32.0% | −49.3% | −93.7% | −55.7% | 5.6% | −478.3% | −32.7% | −69.3% | −30.9% | −118.1% |
| Net margin | −58.2% | −49.7% | −92.1% | −58.7% | 4.5% | −1,079.2% | −43.7% | −74.3% | −59.1% | −126.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1M | $6.6M | $7.2M | $7.3M | $7.7M | $7.0M | $7.5M | $8.4M | $9.3M | $8.7M | $7.4M | $7.5M |
| Cost of revenue | $4.2M | $4.5M | $4.2M | $6.1M | $5.9M | $5.7M | $6.3M | $6.4M | $6.2M | $6.1M | $6.5M | $6.4M |
| Gross profit | $2.9M | $2.2M | $2.9M | $1.3M | $1.8M | $1.3M | $1.1M | $2.1M | $3.1M | $2.7M | $878,000 | $1.1M |
| Sales, general & admin | $4.7M | $7.6M | $5.9M | $1.6M | $4.3M | $4.3M | $4.8M | $6.4M | $4.7M | $4.2M | $6.4M | $3.9M |
| Total operating expenses | $856,000 | $7.6M | $10.4M | $1.6M | $4.5M | $4.5M | $11.4M | $6.8M | $5.0M | $5.0M | $12.0M | $5.2M |
| Operating income | $2.1M | −$5.4M | −$3.2M | −$282,000 | −$2.7M | −$3.2M | −$3.9M | −$4.8M | −$1.9M | −$2.4M | −$4.6M | −$4.1M |
| Interest income | — | — | $34,000 | $490,000 | $147,000 | $58,000 | $72,000 | $100,000 | $97,000 | $110,000 | $114,000 | $105,000 |
| Interest expense | $11,000 | $25,000 | — | $32,000 | $32,000 | $30,000 | — | $50,000 | $41,000 | $48,000 | — | $178,000 |
| Income before taxes | −$1.8M | −$11.0M | −$9.3M | −$209,000 | −$2.0M | −$4.6M | −$7.6M | −$4.7M | −$1.8M | −$2.4M | −$6.5M | −$10.0M |
| Income taxes | $51,000 | −$7,000 | — | $2,000 | $34,000 | $49,000 | — | $45,000 | $205,000 | $35,000 | — | −$60,000 |
| Net income | −$2.2M | −$11.2M | −$9.3M | −$724,000 | −$2.3M | −$4.7M | −$7.6M | −$4.8M | −$2.0M | −$2.5M | −$6.6M | −$9.9M |
| EBITDA | −$1.6M | −$10.7M | −$9.3M | $271,000 | −$1.6M | −$4.1M | — | −$4.0M | −$1.3M | −$1.8M | — | −$2.7M |
| EPS (diluted) | −$0.26 | −$1.51 | — | −$0.26 | −$0.56 | −$1.44 | — | −$0.99 | −$0.48 | −$1.57 | — | −$0.77 |
| Gross margin | 41.3% | 32.9% | 40.8% | 17.3% | 23.1% | 18.8% | 15.0% | 24.4% | 33.2% | 30.6% | 11.9% | 14.6% |
| Operating margin | 29.3% | −81.6% | −45.1% | −3.8% | −35.0% | −45.0% | −52.0% | −56.6% | −20.4% | −27.3% | −62.4% | −54.9% |
| Net margin | −31.3% | −168.4% | −129.7% | −9.9% | −29.5% | −67.2% | −101.7% | −56.4% | −21.5% | −28.8% | −88.9% | −132.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in XWEL's financial statements (latest annual report filed April 1, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
XWEL financial results
In fiscal year 2025 (ended December 31, 2025), XWELL reported revenue of $29.2 million, down 13.8% from the year before. It had a net loss of $17.0 million, a net profit margin of −58.2%. Diluted earnings per share came to −$2.80. Over five years revenue grew at an average rate of 28.4% a year.
See the XWEL stock overview for the latest quote and news, or the XWEL chart for price history and technical indicators.
XWEL income statement FAQ
What is XWELL's annual revenue?
XWELL reported total revenue of $29.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 13.8% from $33.9 million the previous year.
Is XWELL profitable?
No. XWELL reported a net loss of $17.0 million in fiscal 2025, a net profit margin of −58.2%; its operating margin was −32.0%.
What is XWELL's gross margin?
XWELL's gross margin was 22.7% in fiscal 2025: for every $100 of revenue, XWELL kept $23 after the direct cost of its products and services.
How fast is XWELL growing?
Revenue grew 28.4% a year on average over the last five fiscal years, from $8.4 million to $29.2 million.
What are XWELL's earnings per share?
XWELL earned $-2.80 per diluted share in fiscal 2025, compared with $-3.20 a year earlier.
When will XWELL report its next earnings?
XWELL is expected to report results for the quarter ending September 30, 2026 on November 13, 2026.
When does XWELL's fiscal year end?
XWELL's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 1, 2026.