XWELL, Inc.

XWELL is a global wellness organization dedicated to delivering restorative and health-focused services to travelers through its three reportable operating segments: XpresSpa , XpresTest , and Naples Wax Center . As of the date of this Annual Report on Form 10-K, XWELL currently has three reportable operating segments: XpresSpa , XpresTest and Naples Wax Center . On October 25, 2022, the Company changed its name to XWELL, Inc. ( XWELL or the Company ) from XpresSpa Group, Inc. The Company’s common stock, par value $0.01 per share, which had previously been listed under the trading symbol XSPA on Nasdaq, now trades under the trading symbol XWEL . The Company filed an amended and restated certificate of incorporation with the Delaware Secretary of State on October 24, 2022 (as amended, the Amended and Restated Certificate ) reflecting the name change. Rebranding to XWELL aligned the Company’s corporate strategy to build a pure-play wellness services company, in both the airport and off-airport marketplaces. All amounts are in thousands, except share, per share, or as otherwise specifically noted. XpresSpa 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. As of December 31, 2025, there were 16 domestic XpresSpa locations in total.