XWELL, Inc.
For the period ended Dec 31, 2024. Filed Apr 15, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Apr 15, 2025
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, | ||||||
| · 2024 · · 2023 | ||||||
| Cash flows from operating activities · · · | ||||||
| Net loss | | $(16,490) | | $(28,029) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | ||
| Depreciation and amortization | | 938 | | 2,065 | ||
| Impairment of long-lived assets | | 1,706 | | 1,159 | ||
| Impairment of goodwill | | | — | | | 4,024 |
| Impairment of intangible assets | | | 5 | | | 2,768 |
| Impairment of operating lease right-of-use assets | | | 2,805 | | | 926 |
| Unrealized gain on marketable securities | | | (321) | | | (877) |
| Foreign currency remeasurement loss | | | 259 | | | 738 |
| Gain on Lease Termination | | | (655) | | | (821) |
| Loss on disposal of assets, net | | | 90 | | | 34 |
| Amortization of operating lease right of use asset | | | 1,335 | | | 1,481 |
| Issuance of shares of Common Stock for services | | — | | 3 | ||
| Provision for credit losses | | | 50 | | | — |
| Stock-based compensation | | 893 | | 2,319 | ||
| (Gain) loss on equity investment | | | (35) | | | 54 |
| Changes in assets and liabilities: | | | | | ||
| Decrease in inventory | | | 399 | | 261 | |
| (Increase) decrease in accounts receivable | | | (193) | | | 1,191 |
| Increase (decrease) in deferred revenue | | | 281 | | | (289) |
| (Increase) decrease in other assets, current and non-current | | | (103) | | 512 | |
| (Decrease) in other liabilities, current and non-current | | | (2,356) | | | (3,105) |
| Increase (decrease) in accounts payable | | | 387 | | (488) | |
| Net cash used in operating activities | | (11,005) | | (16,074) | ||
| Cash flows from investing activities | | | ||||
| Acquisition of property and equipment | | (1,783) | | (1,905) | ||
| Investment in marketable securities | | | (299) | | | — |
| Sale of marketable securities | | | 7,986 | | | 9,417 |
| Acquisition of Naples Wax net of cash assumed | | | — | | | (1,394) |
| Acquisition of intangibles | | (9) | | (468) | ||
| Net cash provided by investing activities | | 5,895 | | 5,650 | ||
| Cash flows from financing activities | | | | | ||
| Contributions from noncontrolling interests | | | — | | | 150 |
| Stock option exercised | | | 4 | | | — |
| Payments for shares withheld on vesting | | | — | | | (22) |
| Net proceeds from stock sale | | | 1,355 | | | — |
| Distributions to noncontrolling interests | | | — | | | (120) |
| Net cash provided by financing activities | | 1,359 | | 8 | ||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | | (136) | | (185) | ||
| Decrease in cash, cash equivalents and restricted cash | | (3,887) | | (10,601) | ||
| Cash, cash equivalents, and restricted cash at beginning of the year | | | 9,188 | | | 19,789 |
| Cash, cash equivalents, and restricted cash at end of the year | | $5,301 | | $9,188 | ||
| Cash paid for | | | | | ||
| Income taxes | | $59 | | $35 | ||
| Non-cash investing and financing transactions | | | | | ||
| Capital expenditures included in Accounts payable, accrued expenses and other current liabilities | | $152 | | $17 | ||
| Issuance of shares of Common Stock for legal settlement | | $940 | | | — | |
| Right-of-use assets obtained in exchange for operating lease obligations | | $3,257 | | $174 | ||
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