XWELL Inc
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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FY2023 · Filed Apr 16, 2024
XWEL$0.54-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year ended December 31, | ||||||
| · 2023 · 2022 | ||||||
| Cash flows from operating activities · · | ||||||
| Net loss | | $(28,029) | | $(32,629) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | ||
| Depreciation and amortization | | 2,065 | | 5,429 | ||
| Impairment of fixed assets | | 1,159 | | 4,559 | ||
| Impairment of goodwill | | | 4,024 | | | — |
| Impairment of intangible assets | | | 2,768 | | | 110 |
| Impairment of operating lease right-of-use assets | | | 926 | | | 1,110 |
| Unrealized gain on marketable securities | | | (877) | | | — |
| Foreign currency remeasurement loss | | | 738 | | | — |
| Loss on disposal of assets, net | | | 34 | | | 834 |
| Gain on lease termination | | | (821) | | | — |
| Amortization of operating lease right of use asset | | | 1,481 | | | 1,844 |
| Issuance of shares of Common Stock for services | | 3 | | 103 | ||
| Stock-based compensation | | 2,319 | | 3,770 | ||
| Loss on equity investment | | | 54 | | | 618 |
| Changes in assets and liabilities: | | | | | ||
| Decrease in inventory | | | 261 | | 592 | |
| Decrease (increase) in accounts receivable | | | 1,191 | | | (1,835) |
| Decrease (increase) in deferred revenue | | | (289) | | | (933) |
| Decrease (increase) in other assets, current and non-current | | | 512 | | (457) | |
| Decrease in other liabilities, current and non-current | | | (3,105) | | | (4,056) |
| Decrease in accounts payable | | | (488) | | (3,247) | |
| Net cash used in operating activities | | (16,074) | | (24,188) | ||
| Cash flows from investing activities | | | | |||
| Acquisition of property and equipment | | (1,905) | | (6,464) | ||
| Investment in marketable securities | | | — | | | (23,153) |
| Sale of marketable securities | | | 9,417 | | | — |
| Acquisition of Naples Wax net of cash assumed | | | (1,394) | | | — |
| Acquisition of HyperPointe net of cash assumed | | | — | | | (4,853) |
| Acquisition of intangibles | | (468) | | (373) | ||
| Net cash provided by (used in) investing activities | | 5,650 | | (34,843) | ||
| Cash flows from financing activities | | | | | ||
| Repurchase of Common Stock | | | — | | | (23,789) |
| Contributions from noncontrolling interests | | | 150 | | | 1,025 |
| Payments for shares withheld on vesting | | | (22) | | | (73) |
| Repayment of Paycheck Protection Program | | | — | | | (3,584) |
| Distributions to noncontrolling interests | | | (120) | | | (956) |
| Net cash provided by (used in) financing activities | | 8 | | (27,377) | ||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | | (185) | | (60) | ||
| Decrease in cash, cash equivalents and restricted cash | | (10,601) | | (86,468) | ||
| Cash, cash equivalents, and restricted cash at beginning of the year | | | 19,789 | | | 106,257 |
| Cash, cash equivalents, and restricted cash at end of the year | | $9,188 | | $19,789 | ||
| Cash paid for | | | | | ||
| Interest | | $— | | $10 | ||
| Income taxes | | | 35 | | $55 | |
| Non-cash investing and financing transactions | | | | | ||
| Capital expenditures included in Accounts payable, accrued expenses and other current liabilities | | $17 | | $544 | ||
| Issuance of Common Stock on acquisition of gcg Connect, LLC, d/b/a HyperPointe | | $— | | $906 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.