XWELL (XWEL) 10-K 16 Apr 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Apr. 15, 2024	Jun. 30, 2023
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-34785
Entity Registrant Name	XWELL, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-4988129
Entity Address, Address Line One	254 West 31st Street
Entity Address, Address Line Two	11th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	750-9595
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	XWEL
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 16,663,729
Entity Common Stock, Shares Outstanding		4,183,435
Auditor Name	Marcum LLP
Auditor Location	East Hanover, New Jersey
Auditor Firm ID	688
Entity Central Index Key	0001410428
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023		Sep. 30, 2023	Dec. 31, 2022		Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 8,437		$ 4,827	$ 19,038
Marketable Securities	14,613		21,311	23,153
Accounts receivable	1,667		1,193	2,858
Inventory	900		968	1,161
Other current assets	949		1,663	1,122
Total current assets	26,566		29,962	47,332
Restricted cash	751		751	751
Property and equipment, net	2,454		2,705	3,666
Intangible assets, net	1,353		2,174	4,008
Operating lease right of use assets, net	4,656		5,558	8,276
Goodwill	1,371			4,024
Other assets	1,842		1,787	2,369
Total assets	38,993		42,937	70,426
Current liabilities
Accounts payable	1,099		1,511	2,312
Accrued expenses and other current liabilities	4,968		4,198	5,719
Current portion of operating lease liabilities	2,402		2,375	2,586
Deferred revenue	861		73	339
Total current liabilities	9,330		8,157	10,956
Long-term liabilities
Operating lease liabilities	8,692		9,123	11,521
Total liabilities	18,022		17,280	22,477
Commitments and contingencies (see Note 18)
Equity
Common Stock, $0.01 par value per share, 150,000,000 shares authorized; 4,179,631 and 4,161,613 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively	42	[1]	42	42	[1]
Additional paid-in capital	470,737		470,270	468,530
Accumulated deficit	(455,853)		(450,882)	(428,112)
Accumulated other comprehensive loss	(1,924)		(1,642)	(534)
Total equity attributable to XWELL, Inc.	13,002		17,788	39,926
Noncontrolling interests	7,969		7,869	8,023
Total equity	20,971		25,657	47,949		$ 99,935
Total liabilities and equity	$ 38,993		$ 42,937	$ 70,426
[1] Adjusted to reflect the impact of the 1 :20 reverse stock split that became effective on September 28, 2023.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical)	Sep. 28, 2023	Dec. 31, 2023 $ / shares shares	Sep. 30, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Oct. 24, 2022 $ / shares
CONSOLIDATED BALANCE SHEETS
Common stock, par value | $ / shares		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized		150,000,000	150,000,000	150,000,000
Common stock, issued		4,179,631	4,174,381	4,161,613
Common stock, outstanding		4,179,631	4,174,381	4,161,613
Reverse stock split, conversion ratio	0.05

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Revenue, net
Total revenue, net		$ 30,109	$ 55,939
Cost of sales
Labor		17,932	21,437
Occupancy		4,473	4,138
Products and other operating costs		4,023	18,316
Total cost of sales		26,428	43,891
Gross Profit		3,681	12,048
Depreciation and amortization		2,065	5,429
Impairment of long-lived assets		3,927	4,669
Goodwill impairment		4,024
Loss on disposal of assets, net		34	834
Impairment of operating lease right-of-use assets		926	1,110
General and administrative		12,957	21,178
Salaries and benefits		7,954	9,991
Total operating expenses		31,887	43,211
Operating loss		(28,206)	(31,163)
Interest income, net		448	384
Foreign exchange loss		(738)	(664)
Gain on securities, realized and unrealized		912
Other non-operating expense, net		(410)	(1,131)
Loss before income taxes		(27,994)	(32,574)
Income tax expense		(35)	(55)
Net loss		(28,029)	(32,629)
Net (income) loss attributable to noncontrolling interests		288	(208)
Net loss attributable to XWELL, Inc.		(27,741)	(32,837)
Net loss		(28,029)	(32,629)
Foreign currency translation		(1,390)	(222)
Comprehensive loss		$ (29,419)	$ (32,851)
Loss per share
Basic loss per share (in dollars per share)		$ (6.64)	$ (7.01)
Diluted loss per share (in dollars per share)		$ (6.64)	$ (7.01)
Weighted-average number of shares outstanding during the period
Basic (in shares)	[1]	4,175,220	4,682,767
Diluted (in shares)	[1]	4,175,220	4,682,767
Patient services revenue
Revenue, net
Total revenue, net		$ 250	$ 32,776
Services
Revenue, net
Total revenue, net		27,053	21,227
Products
Revenue, net
Total revenue, net		2,766	1,930
Other
Revenue, net
Total revenue, net		$ 40	$ 6
[1] Adjusted to reflect the impact of the 1 :20 reverse stock split that became effective on September 28, 2023.

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parenthetical)	Sep. 28, 2023
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Reverse stock split, conversion ratio	0.05

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands		Common stock		Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive loss	Total Company equity	Non-controlling interests	Total
Balance Beginning at Dec. 31, 2021		$ 51	[1]	$ 488,268	$ (395,275)	$ (312)	$ 92,732	$ 7,203	$ 99,935
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2021	[1]	5,063,467
Issuance of Common Stock for acquisition				906			906		906
Issuance of Common Stock for acquisition (in shares)	[1]	27,624
Vesting of restricted stock units (shares)	[1]	46,857
Value of Shares Withheld to fund payroll taxes				(73)			(73)		(73)
Stock-based compensation				3,106			3,106	664	3,770
Net loss for the period					(32,837)		(32,837)	208	(32,629)
Repurchase and retirement of common stock		$ (9)	[1]	(23,780)			(23,789)		(23,789)
Repurchase and retirement of common stock (in shares)	[1]	(976,335)
Foreign currency translation						(222)	(222)	(121)	(343)
Distributions to noncontrolling interests								(956)	(956)
Contributions from noncontrolling interests								1,025	1,025
Grant of stock options for services				103			103		103
Balance Ending at Dec. 31, 2022		$ 42	[1]	468,530	(428,112)	(534)	39,926	8,023	$ 47,949
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2022		4,161,613	[1]						4,161,613
Balance Beginning at Dec. 31, 2022		$ 42	[1]	468,530	(428,112)	(534)	39,926	8,023	$ 47,949
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2022		4,161,613	[1]						4,161,613
Net loss for the period									$ (23,099)
Balance Ending at Sep. 30, 2023		$ 42		470,270	(450,882)	(1,642)	17,788	7,869	$ 25,657
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2023		4,174,381							4,174,381
Balance Beginning at Dec. 31, 2022		$ 42	[1]	468,530	(428,112)	(534)	39,926	8,023	$ 47,949
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2022		4,161,613	[1]						4,161,613
Value of Shares Withheld to fund payroll taxes				(22)			(22)		$ (22)
Stock-based compensation				2,226			2,226	93	2,319
Net loss for the period					(27,741)		(27,741)	(288)	(28,029)
Foreign currency translation						(1,390)	(1,390)	111	(1,279)
Distributions to noncontrolling interests								(120)	(120)
Contributions from noncontrolling interests								150	150
Grant of stock options for services				3			3		3
Issuance of restricted stock units (in shares)	[1]	18,018
Balance Ending at Dec. 31, 2023		$ 42	[1]	470,737	(455,853)	(1,924)	13,002	7,969	$ 20,971
Common Stock, Shares, Outstanding, Ending Balance at Dec. 31, 2023		4,179,631	[1]						4,179,631
Net loss for the period									$ (11,591)
Balance Ending at Sep. 30, 2023		$ 42		$ 470,270	$ (450,882)	$ (1,642)	$ 17,788	$ 7,869	$ 25,657
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2023		4,174,381							4,174,381
[1] Adjusted to reflect the impact of the 1 :20 reverse stock split that became effective on September 28, 2023.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical)	Sep. 28, 2023
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Reverse stock split, conversion ratio	0.05

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 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 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
Naples Wax LLC
Cash flows from investing activities
Acquisition net of cash assumed	$ (1,394)
HyperPointe
Cash flows from investing activities
Acquisition net of cash assumed		$ (4,853)

General

General	12 Months Ended
	Dec. 31, 2023
General
General	Note 1. General Overview 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 the Nasdaq Capital Market, now trades under the trading symbol “XWEL” since the opening of the trading market on October 25, 2022. 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”). 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. 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. XWELL is a global wellness company operating multiple brands and focused on bringing restorative, regenerative and reinvigorating products and services to travelers. XWELL currently has four reportable operating segments: XpresSpa ® , XpresTest ® , Naples Wax Center and Treat ™ . 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. As of December 31, 2023, there were 21 domestic XpresSpa locations in total, 19 Company owned and 2 franchises. The Company also had 11 international locations operating as of December 31, 2023, including two XpresSpa locations in Dubai International Airport in the United Arab Emirates, one XpresSpa location in Zayad International Airport in Abu Dhabi UAE, three XpresSpa locations in Schiphol Amsterdam Airport in the Netherlands and five XpresSpa locations in Istanbul Airport in Turkey. XWELL’s subsidiary, XpresTest, in partnership with certain COVID-19 testing partners, successfully launched its XpresCheck Wellness Centers through its XpresTest, Inc. subsidiary (“XpresTest”), which offered 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 during the pandemic. During 2022 and 2023, as countries continued to relax their testing requirements resulting in rapid decline of testing volumes at the Company’s XpresCheck locations, the Company closed XpresCheck Wellness Centers. As of December 31, 2023, all XpresCheck locations are closed. XWELL’s subsidiary, gcg Connect, LLC, operating as HyperPointe, provides direct to business marketing support across a number of health and health-related channels. From the creation of marketing campaigns for the pharmaceutical industry, to learning management systems to website and health related content creation, HyperPointe is a complementary service provider to XWELL’s health-focused brands as well as providing the majority of services to the external community. For reporting purposes, the former HyperPointe segment has been consolidated into the XpresTest segment. XWELL’s subsidiary Treat, Inc. (“Treat”) is a wellness brand that provides access to wellness services for travelers at on-site centers (currently located in JFK International Airport and in Salt Lake City International Airport). In 2022, Treat opened a new location in Phoenix Sky Harbor International Airport but by the fourth quarter of 2022, the decision was made to close this location. The remaining Treat locations offer a full retail product offering and a suite of wellness and spa services. Travelers can purchase time blocks to use our wellness rooms to engage in interactive services like self-guided yoga, meditation and low impact weight exercises or to relax and unplug from the hectic pace of the airport and renew themselves before or after their trip. XWELL’s subsidiary Naples Wax Center, LLC, which was acquired on September 12, 2023, for a purchase price of $1,624 operates a group of upscale hair removal boutiques in Florida. There are currently three Naples Wax Center locations with core products and service offerings from face and body waxing to a range of skincare and cosmetic products. Liquidity and Financial Condition As of December 31, 2023, the Company had approximately $8,437 of cash and cash equivalents, $14,613 in marketable securities, and total current assets of approximately $26,566. The Company’s total current liabilities balance, which includes accounts payable, deferred revenue, accrued expenses, and operating lease liabilities was approximately $9,330 as of December 31, 2023. The working capital surplus was $17,236 as of December 31, 2023, compared to a working capital surplus of $36,376 as of December 31, 2022. The Company has significantly reduced operating and overhead expenses in the second half of 2022 and 2023, while it continues to focus on returning to overall profitability. The Company has taken actions to improve its overall cash position, right sizing its corporate structure and streamlining its operations, while at the same time the Company is aggressively trying to get the company to profitability which the Company believes will strengthen the Company’s stock price and put the Company in a stronger position to be able to raise capital in 2024 and beyond. The Company is aggressively pursuing strategic partnerships that the Company expects will further strengthen the long-term profitability of the business, which puts the Company in a position of strength as the Company raise more capital.

Accounting and Reporting Polici

Accounting and Reporting Policies	12 Months Ended
	Dec. 31, 2023
Accounting and Reporting Policies
Accounting and Reporting Policies	Note 2. Accounting and Reporting Policies Basis of presentation and principles of consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. 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. Use of estimates 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. Translation into United States dollars The Company conducts certain transactions in foreign currencies, which are recorded at the exchange rate as of the transaction date. All exchange gains and losses occurring from the remeasurement of monetary balance sheet items denominated in non-dollar currencies are deemed non-operating income in the consolidated statements of operations and comprehensive loss. During 2023 and 2022, the Company recorded $738 and $664, respectively, in exchange losses occurring from the remeasurement of monetary balance sheet items denominated in non-dollar currencies. Accounts of the foreign subsidiaries of XpresSpa are translated into United States dollars. Assets and liabilities have been translated primarily at year end exchange rates and revenues and expenses have been translated at average monthly rates for the year. The translation adjustments arising from the use of different exchange rates are included as foreign currency translation within the consolidated statements of operations and comprehensive income (loss) and consolidated statements of changes in stockholders’ equity. Cash and cash equivalents The Company maintains cash in checking and money market accounts with financial institutions. The Company has established guidelines relating to diversification and maturities of its investments in order to minimize credit risk and maintain high liquidity of funds. The Company considers all highly liquid investments purchased with an original maturity of three months or less from the time they are acquired to be cash equivalents. The Company had $4,025 of such investments as of December 31, 2023 and $1,885 as of December 31, 2022. Accounts Receivables Accounts receivables are reported at their outstanding unpaid principal balances, net of allowances for credit loss. The Company periodically assesses its accounts and other receivables for collectability on a specific identification basis. The Company provides for an allowance for credit loss based on management’s estimate of uncollectible amounts considering age, collection history, and any other factors considered appropriate. Payments are generally due within 30 days of invoice. The Company writes off accounts receivable against the allowance for credit loss when a balance is determined to be uncollectible. During the year ended December 31, 2023 and 2022, the Company did not write off any accounts receivable. The Company did not record an allowance for credit loss for the year ended December 31, 2023 and December 31, 2022, respectively. Inventory All inventory is valued at the lower of cost or net realizable value. Cost is determined using a weighted-average cost method. Intangible assets Intangible assets include customer relationships, trade names, and technology, which were primarily acquired as part of the acquisition of XpresSpa in December 2016, HyperPointe in 2022 and Naples Wax Center in 2023 and were recorded based on the estimated fair value in purchase price allocation. In addition, intangible assets include software and website development costs that were capitalized as part of the Company’s development of a mobile application and website for the Treat brand. The Company accounts for these costs in accordance with ASC 350-40, Internal-Use Software. The intangible assets are amortized over their estimated useful lives, which are periodically evaluated for reasonableness. The Company’s intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The fair value is then compared to the carrying value and an impairment charge is recognized by the amount in which the carrying value exceeds the fair value of the asset. In assessing the recoverability of the Company’s intangible assets, the Company must make estimates and assumptions regarding future cash flows and other factors to determine the fair value of the respective assets. These estimates and assumptions could have a significant impact on whether an impairment charge is recognized and also the magnitude of any such charge. Fair value estimates are made at a specific point in time, based on relevant information. During the years ended December 31, 2023 and 2022, the Company recognized impairment of $2,768 and $110 respectively. The Company also impaired intangible assets pertaining to its Treat and XpresTest segments. Property and Equipment Property and equipment are recorded at historical cost and primarily consists of leasehold improvements, furniture and fixtures, and other operating equipment. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are depreciated over the lesser of the lease term or economic useful life. Maintenance and repairs are charged to expense, and renovations or improvements that extend the service lives of the Company’s assets are capitalized over the lesser of the extension period or life of the improvement. Impairment of long-lived assets Long-lived assets are tested for impairment at the lowest level at which there are identifiable operating cash flows, which is at the individual airport location for the XpresSpa and XpresTest businesses. The Company’s long-lived assets consist primarily of leasehold improvements and right to use lease assets for each of its airport locations (considered the asset group). The Company reviews its long-lived assets for recoverability yearly or sooner if events or changes in circumstances indicate that the carrying value of long-lived assets may not be recoverable. If indicators are present, the Company performs a recoverability test by comparing the sum of the estimated undiscounted future cash flows attributable to the asset group in question to its carrying amount. An impairment loss is recognized if it is determined that the long-lived asset group is not recoverable and is calculated based on the excess of the carrying amount of the long-lived asset group over the long-lived asset groups fair value. The Company estimates the fair value of long-lived assets using present value income approach. Future cash flow was calculated based on forecasts over the estimated remaining useful life of the asset group, which for each of the Company’s airport locations, is the remaining term of the operating lease. The Company completed an assessment of its property and equipment and operating lease right of use assets for impairment as of December 31, 2023 and 2022. Based upon the results of the impairment test, the Company recorded an impairment expense related to property and equipment of $1,159 and $4,559 as of December 31, 2023 and 2022, respectively. Additionally, the Company recorded an impairment expense related to operating lease right of use assets and $926, and $1,110 as of December 31, 2023 and 2022, respectively. Both impairment charges are recorded on the consolidated statements of operations and comprehensive loss. The expense was primarily related to the impairment of leasehold improvements made to the Company’s Treat and Spa locations and its operating lease right of use assets where management determined that the locations discounted future cash flows were not sufficient to recover the carrying value of these assets over the remaining lease term. Leases The right of use asset (“ROU”) on the Company’s consolidated balance sheet represents a lessee’s right to use an asset over the life of a lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term, plus any lease payments made to the lessor before the lease commencement date, plus any initial direct costs incurred, minus any lease incentives received. The amortization period for the right of use asset is from the lease commencement date to the earlier of the end of the lease term or the end of the useful life of the asset. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected to exclude all short-term leases (i.e, leases with term of 12 months or less) from recognition on the balance sheet. The Company’s lease liabilities are determined by calculating the present value of all future lease payments using the rate implicit in the lease if it can be readily determined, or the lessee’s incremental borrowing rate. The Company uses its incremental borrowing rate at the inception of the lease to determine the present value of future lease payments as the rate implicit in its leases could not be readily determined. Certain leases provide for contingent rents that are not measurable at inception. These contingent rents are primarily based on a percentage of sales that are in excess of a predetermined level, an increase based on a change in the consumer price index or fair market value. These amounts are excluded from the calculation of the right of use asset and lease liability under ASC 842. Minimum rent under these leases is included in the determination of rent expense when it is probable that the expense has been incurred and the amount can be reasonably estimated. Restricted cash Restricted cash, which is listed as a separate line item in the consolidated balance sheets, represents balances at financial institutions to secure bonds and letters of credit as required by the Company’s various lease agreements. Equity investments Equity investments are carried at fair value with the changes in fair value recorded in the consolidated statement of operations and other comprehensive income (loss) in accordance with ASU 2016-01. The Company will perform a qualitative assessment on an annual basis and recognize impairment if there are sufficient indicators that the fair value of the investment is less than the carrying value. As of the year ended December 31, 2023, there were no indicators of impairment. Revenue recognition XpresSpa, Treat and Naples Wax Center The Company recognizes revenue from the sale of products and services when the services are rendered at XpresSpa, Treat, and Naples Wax Centers locations and from the sale of products at the time products are purchased at the Company’s stores or online usually by credit card, net of discounts and applicable sales taxes. Accordingly, the Company recognizes revenue for the Company’s single performance obligation related to both in-store and online sales at the point at which the service has been performed or the control of the merchandise has passed to the customer. Revenues from the e-commerce business are recorded at the time goods are shipped. XpresTest During the third quarter of 2022, XpresTest, in partnership with Ginkgo BioWorks in continuation of their support to the CDC’s traveler-based SARS-CoV-2 genomic surveillance program was awarded a new contract. The partnership is expected to support public health and biosecurity services totaling approximately $16,000, with an overall potential to exceed $61,000 based on CDC program options and public health priorities. As COVID-19 sub-variants and other biological threats continue to emerge, the partners plan to expand the program footprint and incorporate innovative modalities and offerings, such as monitoring of wastewater from aircraft lavatories. The current contract with Ginkgo BioWorks related to the above partnership contains fixed pricing for which the Company is entitled to $6,674 for the sample collection (passenger and aircraft wastewater) and $370 for the traveler enrollment initiatives, which represents the amount of consideration that we are entitled. The Company recognizes revenue over time for both sample collection performance obligations, using the input method based on time elapsed to measure progress towards satisfying each of the performance obligations. We recognized the revenue for the traveler enrollment initiative performance obligation in the second quarter of 2023. The Company recognizes revenue ratably (straight line basis) over the term of the contract (one year). The Company recorded $7,521 and $2,617, in revenue for the years ended December 31, 2023 and 2022, respectively, related to sample collection performance obligations because the Company’s efforts towards satisfying each of the performance obligations are expended evenly throughout the period of performance. HyperPointe The Company’s HyperPointe business provides broad range of service and support options for HyperPointe’s customers, including technical support services and advanced services. Technical support services represent the majority of these offerings which are distinct performance obligations that are satisfied over time with revenue recognized ratably over the contract term. Advanced services are distinct performance obligations that are satisfied over time with revenue recognized as services are delivered. Revenue billed in advance are treated as deferred revenue which was $72 and $322 as of December 31, 2023 and 2022, respectively. The Company excludes all sales taxes assessed to our customers from revenue. Sales taxes assessed on revenues are included in Accrued expenses and other current liabilities Gift cards, customer rewards and prepaid packages XWELL offers no-fee, non-expiring gift cards to its customers. No revenue is recognized upon issuance of a gift card and a liability is established for the gift card’s cash value. The liability is relieved, and revenue is recognized upon redemption by the customer. As the gift cards have no expiration date, there is no provision for the reduction in the value of unused card balances. In addition, XWELL maintains a rewards program in which customers earn loyalty points, which can be redeemed for future services. Loyalty points are rewarded upon joining the loyalty program, for customer birthdays, and based upon customer spending. When a customer redeems loyalty points, the Company recognizes revenue for the redeemed cash value and reduces the related loyalty program liability. In 2023 the Company adopted a formal expiration policy whereby any loyalty members with inactivity for an 18-month period will forfeit any unused loyalty rewards. The costs associated with gift cards and reward points are accrued as the rewards are earned by the cardholder and are included in Accrued expenses and other current liabilities Naples Wax Center offers prepaid wax packages that are either unlimited for one year or a set number of services. When the packages are purchased, the sales are recorded as deferred revenue. As services related to prepaid packages are used, revenue is recognized as income. The deferred revenue as of September 12, 2023, when Naples Wax Center was acquired was $811 and for the year ended December 31, 2023 deferred revenue was $778. Segment reporting ASC 280, Segment Reporting There are currently no intersegment revenues. Asset information by operating segment is presented below since the chief operating decision maker reviews this information by segment. The reporting segments follow the same accounting policies used in the preparation of the Company’s audited consolidated financial statements. Pre-opening costs Pre-opening and start-up activity costs, which include rent and occupancy, supplies, advertising, and other direct expenses incurred prior to the opening of a new store, are expensed in the period in which they are incurred. Cost of sales Cost of sales consists of location operating costs. These costs include all costs that are directly attributable to the location’s operations and include: ● payroll and related benefits for the location’s operations and management; ● rent, percentage rent and occupancy costs; ● the cost of merchandise and testing supplies; ● freight, shipping and handling costs; ● production costs; ● inventory shortage and valuation adjustments; and ● costs associated with sourcing operations. Stock-based compensation Stock-based compensation is recognized as an expense in the consolidated statements of operations and comprehensive loss and such cost is measured at the grant-date fair value of the equity-settled award. The fair value of stock options is estimated as of the date of grant using the Black-Scholes-Merton (“Black-Scholes”) option-pricing model. The fair value of Restricted Stock Units (“RSUs”) is calculated as of the date of grant using the grant date closing share price multiplied by the number of RSUs granted. The expense is recognized on a straight-line basis, over the requisite service period. The Company uses the simplified method to estimate the expected term of options due to insufficient history and high turnover in the past. Expected volatility is estimated based on a weighted average historical volatility of the Company. The risk-free rate for the expected term of the option is based on the United States Treasury yield curve as of the date of grant. The Company recognizes forfeitures as they occur. The Company issues new stock to deliver shares under its Equity Plan. Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not more likely than not to be realized. Tax benefits related to excess deductions on stock-based compensation arrangements are recognized when they reduce taxes payable. In assessing the need for a valuation allowance, the Company looks at cumulative losses in recent years, estimates of future taxable earnings, feasibility of tax planning strategies, the ability to realize tax benefit carryforwards, and other relevant information. Valuation allowances related to deferred tax assets can be impacted by changes to tax laws, changes to statutory tax rates and future taxable earnings. Ultimately, the actual tax benefits to be realized will be based upon future taxable earnings levels, which are very difficult to predict. In the event that actual results differ from these estimates in future periods, the Company will be required to adjust the valuation allowance. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company had no uncertain tax positions as of December 31, 2023 and 2022. Noncontrolling interests Noncontrolling interests represent the noncontrolling holders’ percentage share of earnings or losses from; i) the subsidiaries, in which the Company holds a majority, but less than 100%, ownership interest, ii) Variable Interest Entities, where the Company is a primary beneficiary (See sub note Variable Interest Entities Net income/(loss) per common share Basic net income (loss) per share is computed by dividing the net income (loss) attributable to common shareholders for the period by the weighted-average number of shares of Common Stock outstanding during the period. Diluted net income (loss) per share is computed by dividing the net loss attributable to the Company for the period by the weighted-average number of shares of Common Stock plus dilutive potential Common Stock considered outstanding during the period. Commitments and contingencies Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Legal costs expected to be incurred in connection with a loss contingency are expensed as incurred. Variable Interest Entities The Company evaluates its ownership, contractual, pecuniary, and other interests in entities to determine if it has any variable interest in a variable interest entity (“VIE”). These evaluations are complex and involve judgment. If the Company determines that an entity in which it holds a contractual or ownership interest is a VIE and that the Company is the primary beneficiary, the Company consolidates such entity in its consolidated financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Management performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. Changes in consolidation status are applied prospectively. As of the year ended December 31, 2023, there were no VIE’s remaining. Business Combinations The Company uses the provisions of ASC Topic 805, Business Combinations (“ASC 805”) in the accounting for acquisitions of businesses. ASC 805 requires the Company to use the acquisition method of accounting by recognizing the identifiable tangible and intangible assets acquired and liabilities assumed, and any non-controlling interest in the acquired business, measured at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the aforementioned amounts. While the Company uses its best estimates and assumptions to accurately apply preliminary values to assets acquired and liabilities assumed at the acquisition date, these estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of the assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the consolidated statements of operations. Accounting for business combinations requires management to make significant estimates and assumptions, especially at the acquisition date, including estimates for intangible assets. Although the Company believes the assumptions and estimates that have been made are reasonable and appropriate, they are based in part on historical experience and information obtained from the acquired companies and are inherently uncertain. Estimates in valuing certain of the intangible assets the Company has acquired include future expected cash flows, and discount rates. Goodwill Goodwill represents the cost of a business acquisition in excess of the fair value of the net assets acquired. Goodwill is not amortized and is reviewed for impairment annually, or more frequently if facts and circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. If it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the company performs a quantitative test to identify and measure the amount of goodwill impairment loss. The Company compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds fair value, goodwill of the reporting unit is considered impaired, and that excess is recognized as a goodwill impairment loss. During the quarter ended September 30, 2023, the Company identified a triggering event, related to the Goodwill associated with XpresTest’s HyperPointe business, and as a result recognized an impairment charge of $4,024 , which is in the Goodwill impairment on the consolidated statements of operations and comprehensive loss. Advertising Costs Advertising costs are expensed as incurred. Advertising expenses amounted to approximately $696 and $4,645 for the years ended December 31, 2023 and 2022, respectively. Fair value measurements The Company measures fair value in accordance with ASC 820-10, Fair Value Measurements and Disclosures. ASC 820-10 clarifies that fair value is an exit price, representing the amount that would be received by selling an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820-10 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 Level 2 Level 3 The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Reclassification Certain balances in the 2022 consolidated financial statements have been reclassified to conform to the presentation in the 2023 consolidated financial statements, primarily the separate classification and presentation of general and administrative, salaries and benefits, impairments and loss on disposal of assets. Such reclassifications did not have a material impact on the consolidated financial statements. Recently adopted accounting pronouncements Accounting Standards Update No. 2020-06—Debt--Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) Issued in August 2020, this update is intended to reduce the unnecessary complexity of the current guidance thus resulting in more accurate accounting for convertible instruments and consistent treatment from one entity to the next. Under current GAAP, there are five accounting models for convertible debt instruments. Except for the traditional convertible debt model that recognizes a convertible debt instrument as a single debt instrument, the other four models, with their different measurement guidance, require that a convertible debt instrument be separated (using different separation approaches) into a debt component and an equity or a derivative component. Convertible preferred stock also is required to be assessed under similar models. The Financial Accounting Standard Board (“FASB”) decided to simplify the accounting for convertible instruments by removing certain separation models currently included in other accounting guidance that were being applied to current accounting for convertible instruments. Under the amendments in this update, an embedded conversion feature no longer needs to be separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives. Consequently, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost and a convertible preferred stock will be accounted for as a single equity instrument measured at its historical cost, as long as no other features require bifurcation and recognition as derivatives. The FASB also decided to add additional disclosure requirements in an attempt to improve the usefulness and relevance of the information being provided. The new standard is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company adopted ASU 2020-06 as of the reporting period beginning January 1, 2022. The adoption of this update did not have a material impact on the Company’s consolidated financial statements. ASU 2021-04: Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity Classified Written Call Options In May 2021, the FASB issued ASU 2021-04, “Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity Classified Written Call Options’” (“ASU 2021-04”), which introduces a new way for companies to account for warrants either as stock compensation or derivatives. Under the new guidance, if the modification does not change the instrument’s classification as equity, the company accounts for the modification as an exchange of the original instrument for a new instrument. In general, if the fair value of the “new” instrument is greater than the fair value of the “original” instrument, the excess is recognized based on the substance of the transaction, as if the issuer has paid cash. The effective date of the standard is for interim and annual reporting periods beginning after December 15, 2021 for all entities. The Company adopted ASU 2021-04 as of the reporting period beginning January 1, 2022. The adoption of this update did not have a material impact on the Company’s consolidated financial statements. ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). ASU 2021-08 requires contract assets and contract liabilities acquired in a business acquisition to be recognized and measured in accordance with ASC Topic 606, Revenues from Contracts with Customers, which the Company generally expects will result in the recognition and measurement of contract assets and contract liabilities in a manner that is consistent with the acquiree. For the Company, the amendments are effective

Net earnings_(loss) per Share o

Net earnings/(loss) per Share of Common Stock	12 Months Ended
	Dec. 31, 2023
Net earnings/(loss) per Share of Common Stock
Net earnings/(loss) per Share of Common Stock	Note 3. Net earnings/(loss) per Share of Common Stock ​ The table below presents the computation of basic and diluted (losses)/net earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, ​ 2023 2022 Basic numerator: ​ ​ Net loss attributable to common shareholders ​ $ (27,741) ​ $ (32,837) Basic denominator: ​ ​ ​ Basic weighted average shares outstanding ​ 4,175,220 ​ 4,682,767 Basic loss per share ​ $ (6.64) ​ $ (7.01) ​ ​ ​ ​ ​ ​ ​ Net loss per share data presented above excludes from the calculation of diluted net loss, the following potentially dilutive securities, having an anti-dilutive impact, in case of net loss ​ ​ Both vested and unvested options to purchase an equal number of shares of Common Stock ​ 341,205 ​ 241,501 Unvested RSUs to issue an equal number of shares of Common Stock ​ 11,944 ​ 14,063 Warrants to purchase an equal number of shares of Common Stock ​ — ​ 58,605 Total number of potentially dilutive securities excluded from the calculation of earnings/(loss) per share attributable to common shareholders ​ 353,149 ​ 314,169 ​ Reverse Stock Split ​ On September 28, 2023, the Company effected a 1

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	12 Months Ended
	Dec. 31, 2023
Cash, Cash Equivalents, and Restricted Cash
Cash, Cash Equivalents, and Restricted Cash	Note 4. Cash, Cash Equivalents, and Restricted Cash ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Cash denominated in United States dollars ​ $ 5,726 ​ $ 16,344 Cash denominated in currency other than United States dollars ​ 2,395 ​ 2,562 Restricted cash ​ ​ 751 ​ ​ 751 Credit and debit card receivables ​ 316 ​ 132 Total cash, cash equivalents and restricted cash ​ $ 9,188 ​ $ 19,789 ​ The Company places its cash and temporary cash investments with credit quality institutions. At times, such cash denominated in United States dollars may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limit. At December 31, 2023 and 2022, deposits in excess of FDIC limits were $4,195 and $16,069. As of December 31, 2023 and 2022, the Company held cash balances in overseas accounts, totaling $2,395 and $2,562 respectively, which are not insured by the FDIC. If the Company were to distribute the amounts held overseas, the Company would need to follow an approval and distribution process as defined in its operating and partnership agreements, which may delay and/or reduce the availability of that cash to the Company.

Other Current Assets

Other Current Assets	12 Months Ended
	Dec. 31, 2023
Other Current Assets
Other Current Assets	Note 5. Other Current Assets As of December 31, 2023, and 2022, the Company’s other current assets were comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Prepaid expenses ​ $ 894 ​ $ 1,074 Other ​ 55 ​ 48 Total other current assets ​ $ 949 ​ $ 1,122 ​ Prepaid expenses are predominantly comprised of financed and prepaid insurance policies which have terms of one year or less.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property and Equipment
Property and Equipment	Note 6. Property and Equipment Property and equipment are comprised of three categories: leasehold improvements, furniture and fixtures, and other operating equipment as of December 31, 2023 and 2022 as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 Useful Life Leasehold improvements ​ $ 5,848 ​ $ 8,692 Average 5-8 years Furniture and fixtures ​ ​ 821 ​ ​ 1,214 3-4 years Other operating equipment ​ 680 ​ 760 Maximum 5 years ​ ​ 7,349 ​ 10,666 ​ ​ Accumulated depreciation ​ (4,895) ​ (7,000) Total property and equipment, net ​ $ 2,454 ​ $ 3,666 ​ Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are depreciated over the shorter of remaining lease term or economic useful life (which is on average 5-8 years). The fair values of the Company’s asset groups were determined using the income approach. The income approach incorporated the use of a discounted cash flow method in which the estimated future cash flows and terminal values for the Company were discounted to a present value using a discount rate. Cash flow projections are based on management’s estimates of economic and market conditions which drive key assumptions of revenue growth rates, operating margins, capital expenditures and working capital requirements. The discount rate in turn is based on the specific risk characteristics of the Company, the weighted average cost of capital and its underlying forecast. The Company performed assessments of its property and equipment for impairment for the years ended December 31, 2023 and 2022 and based upon the results of the impairment tests, the Company recorded impairment expenses of approximately $1,159 and $4,559, respectively, which is included in Impairment of long-lived assets on the consolidated statements of operations and comprehensive loss. The impairment expense is primarily related to the underperformance of the Company’s Treat locations at the JFK and Salt Lake City airports. During the years ended December 31, 2023 and 2022, the Company recorded $825 and $3,663 respectively of depreciation expense.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2023
Other Assets
Other Assets	Note 7. Other Assets Other assets in the consolidated balance sheets are comprised of the following as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Equity investments ​ $ 50 ​ $ 104 Lease deposits ​ 1,556 ​ 1,973 Other ​ ​ 236 ​ ​ 292 Other assets ​ $ 1,842 ​ $ 2,369 ​ As of December 31, 2023 and 2022, the equity investment in Route1 had a readily determinable fair value of $50 and $104, respectively. The Company recorded an unrealized loss of $54 in 2023 and an unrealized loss of $618 in 2022, in connection with the remeasurement of the shares of our common stock of Route1 it obtained in the 2018 sale of Group Mobile to Route1. The loss/gain is included in Other non-operating income (expense), net Also included in Other assets as of December 31, 2023 and 2022 were $1,556 and $1,973, respectively, of security deposits made pursuant to various lease agreements, which will be returned to the Company at the end of the leases.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2023
Intangible Assets
Intangible Assets	Note 8. Intangible Assets The following table provides information regarding the Company’s intangible assets, which consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 ​ ​ Gross ​ ​ ​ ​ Net ​ Gross ​ ​ ​ ​ Net ​ ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying ​ Amount Amortization Amount Amount Amortization Amount Trade names ​ $ 200 ​ $ (6) ​ $ 194 ​ $ 302 ​ $ (24) ​ $ 278 Customer relationships ​ ​ 1,012 ​ ​ (341) ​ ​ 671 ​ ​ 1,510 ​ ​ (542) ​ ​ 968 Software ​ 2,593 ​ (2,120) ​ 473 ​ 4,485 ​ (1,761) ​ 2,724 Licenses ​ ​ 35 ​ ​ (20) ​ ​ 15 ​ ​ 55 ​ ​ (17) ​ ​ 38 Total intangible assets ​ $ 3,840 ​ $ (2,487) ​ $ 1,353 ​ $ 6,352 ​ $ (2,344) ​ $ 4,008 ​ The Company’s trade names and customer relationships relates to the Naples Wax Center, software relates to certain capitalized third-party costs related to a new website and a point-of-sale system, and licenses relates to certain capitalized costs of foreign acquisition. The fair values of the Company’s long-lived assets were determined using the income approach. The income approach incorporated the use of a discounted cash flow method in which the estimated future cash flows and terminal values for the Company were discounted to a present value using a discount rate. Cash flow projections are based on management’s estimates of economic and market conditions which drive key assumptions of revenue growth rates, operating margins, capital expenditures and working capital requirements. The discount rate in turn is based on the specific risk characteristics of the Company, the weighted average cost of capital and its underlying forecast. In the year ended December 31, 2023, the Company recorded an impairment of $2,768 related to trade names, customer relationships and software which is included in Impairment of long-lived assets on the consolidated statement of operations and comprehensive loss for the year ended December 31, 2023. In the year ended December 31, 2022, the Company recorded impairment of $110 related to software. The increase in impairment expense of intangible assets is primarily related to XpresTest’s HyperPointe business and Treat. The Company’s intangible assets are amortized over their expected useful lives, which is six years for trade names and five Estimated amortization expense for the Company’s intangible assets at December 31, 2023 is as follows: ​ ​ ​ ​ ​ Calendar Years ending December 31, Amount 2024 ​ $ 316 2025 ​ 310 2026 ​ 229 2027 ​ 122 2028 ​ ​ 122 Thereafter ​ ​ 254 Total ​ $ 1,353 ​

Acquisition of Naples Wax, LLC

Acquisition of Naples Wax, LLC	12 Months Ended
	Dec. 31, 2023
Acquisition of Naples Wax, LLC
Acquisition of Naples Wax, LLC	Note 9. Acquisition of Naples Wax, LLC On September 12, 2023, the Company acquired all of the equity interests in Naples Wax, LLC, d/b/a Naples Wax Centers, a Florida limited liability company (“Naples Wax”), for an aggregate purchase price of $1,624, of which $1,574 was paid in cash at closing. The remaining $50 will be held for six months as a holdback to cover any potential indemnification claims and included in accrued expenses and other current liabilities on the consolidated balance sheet as of December 31, 2023. The Company applies the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“ASC 805”) in the accounting for acquisitions of businesses. ASC 805 requires the Company to use the acquisition method of accounting by recognizing the identifiable tangible and intangible assets acquired and liabilities assumed, and any non-controlling interest in the acquired business, measured at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the aforementioned amounts. While the company uses its best estimates and assumptions to accurately apply preliminary values to assets acquired and liabilities assumed at the acquisition date, these estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of the assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the consolidated statements of operations. Accounting for business combinations requires management to make estimates and assumptions, especially at the acquisition date, including estimates for intangible assets. Although the Company believes the assumptions and estimates that have been made are reasonable and appropriate, they are based in part on historical experience and information obtained from the acquired companies and are inherently uncertain. Estimates in valuing certain of the intangible assets the Company has acquired include future expected cash flows, and discount rates. For income tax purposes, this acquisition of 100% of the units is treated as an asset acquisition. As a result of the acquisition of Naples Wax, the company generated tax deductible goodwill of $1.371 million. ​ ​ ​ ​ ​ Consideration paid $ 1,624 ​ ​ ​ ​ Fair value of assets acquired and liabilities assumed ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 180 Prepaid expenses and other assets ​ ​ 13 Customer relationships ​ ​ 700 Trade name ​ ​ 200 ​ ​ ​ ​ Deferred revenue ​ ​ (811) Accounts payable ​ ​ (25) Accrued expenses and other liabilities ​ ​ (4) Total fair value of assets acquired and liabilities assumed ​ ​ 253 Goodwill ​ $ 1,371 ​ Determination of the fair values of the acquired assets and assumed liabilities (and the related determination of estimated lives of depreciable tangible and identifiable intangible assets) requires significant judgment. The fair value of intangible assets other than Goodwill was determined primarily using income approaches. This included estimated multi-period excess earnings valuation method for Customer relationships and the relief-from-royalty valuation for the tradename. The following table sets forth the significant assumptions utilized when valuing the Customer Relationships: ​ ​ ​ ​ ​ Customer relationships Attrition Rate 15.00 % ​ ​ ​ ​ Existing Customer Growth 75.00 % ​ ​ ​ ​ Business Development Expense for New Customers 5.70 % ​ ​ ​ ​ Customer relationships Discount Rate 31.00 % ​ ​ ​ ​ Estimated Remaining Economic Life (Years) (approx.) 7 yrs ​ The following table sets forth the significant assumptions utilized when valuing the Tradename: ​ ​ ​ ​ ​ % of Revenue Attributable to Trade Name 100.00 % ​ ​ ​ ​ Royalty Rate 2.00 % ​ ​ ​ ​ Trade Name Discount Rate 31.00 % ​ ​ ​ ​ Remaining Economic Life (Years) 9 yrs ​

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases
Leases	Note 10. Leases ​ The Company leases spa and clinic locations at various domestic and international airports. Additionally, the Company leases its corporate office in New York City and other off airport locations in various US cities. Certain leases entered into by the Company are accounted for in accordance with ASC 842. The Company determines if an arrangement is a lease at inception and if it qualifies under ASC 842. The Company’s lease arrangements generally contain fixed payments throughout the term of the lease and most also contain a variable component to determine the lease obligation where a certain percentage of sales is used to calculate the lease payments. The Company enters into leases that expire, are amended and extended, or are extended on a month-to-month basis. Leases are not included in the calculation of the total lease liability and the right of use asset when they are month-to-month. ​ All qualifying leases held by the Company are classified as operating leases. Operating lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company records its operating lease assets and liabilities based on required guaranteed payments under each lease agreement. The Company uses its incremental borrowing rate, which approximates the rate at which the Company can borrow funds on a secured basis, using the information available at commencement date of the lease in determining the present value of guaranteed lease payments. The interest rate implicit in the lease is generally not determinable in transactions where a company is the lessee. ​ The Company reviews all of its existing lease agreements to determine whether there were any modifications to lease agreements and to assess if any agreements should be accounted for pursuant to the guidance in ASC 842. ​ The following is a summary of the activity in the Company’s current and long-term operating lease liabilities for the year ended December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ (3,483) ​ $ (4,092) Leased assets obtained in exchange for new and modified operating lease liabilities ​ $ 174 ​ $ 6,891 Leased assets surrendered in exchange for termination of operating lease liabilities ​ $ — ​ $ — ​ As of December 31, 2023, future minimum operating leases commitments are as follows: ​ ​ ​ ​ ​ Calendar Years ending December 31, Amount 2024 ​ $ 3,105 2025 ​ 2,714 2026 ​ 1,628 2027 ​ 1,505 2028 ​ 1,125 Thereafter ​ 3,313 Total future lease payments ​ 13,390 Less: interest expense at incremental borrowing rate ​ (2,296) Net present value of lease liabilities ​ $ 11,094 ​ Other assumptions and pertinent information related to the Company’s accounting for operating leases are: ​ ​ ​ ​ ​ ​ Weighted average remaining lease term: ​ ​ 5.94 years Weighted average discount rate used to determine present value of operating lease liability: ​ 7.25 % ​ Cash paid for minimum annual rental obligations for the years ended December 31, 2023 and 2022, were $2,018 and $928 respectively. ​ Variable lease payments calculated monthly as a percentage of a product and services revenue were $1,326 and $1,392 for the years ended December 31, 2023 and 2022 respectively. ​ Rent expense for operating leases for the years ended December 31, 2023 and 2022 were $3,824 and $3,917, respectively. ​ The Company performed assessments of its right of use lease assets for impairment for the years ended December 31, 2023 and 2022. Based upon the results of the impairment tests, the Company recorded impairment expenses of approximately $926 and $1,110 which is included in Impairment of operating lease right-of-use assets on the consolidated statement of operations and comprehensive income (loss) for the years ended December 31, 2023 and 2022 respectively.

Long-term Notes and Convertible

Long-term Notes and Convertible Notes	12 Months Ended
	Dec. 31, 2023
Long-term Notes and Convertible Notes
Long-term Notes and Convertible Notes	Note 11. Long-term Notes and Convertible Notes ​ Paycheck Protection Program ​ On May 1, 2020, the Company entered into a U.S. Small Business Administration (“SBA”) Paycheck Protection Program (“the PPP”) promissory note in the principal amount of $5,653 payable to Bank of America, NA (“Bank of America”) evidencing a PPP loan (the “PPP Loan”). The PPP Loan bore interest at a rate of 1% per annum. No payments were due on the PPP Loan during a six-month

Stockholders' Equity and Warran

Stockholders' Equity and Warrants	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity and Warrants
Stockholders' Equity and Warrants	Note 12. Stockholders’ Equity and Warrants ​ 2023 Reverse Stock Split ​ On September 28, 2023, we effected a 1 ​ Share Repurchase Program ​ On August 31, 2021, the Company’s board of directors initially authorized a stock repurchase program that permitted the purchase and repurchase of up to 15 million shares of its common stock through September 15, 2022. In May 2022, the Board increased the share repurchase program by an additional 10 million shares and extended its effectiveness through September 15, 2023. Under this stock repurchase program, management has discretion in determining the conditions under which shares may be purchased from time to time. The program does not require us to repurchase any specific number of shares, and may be modified, suspended or terminated at any time without prior notice. The Board share repurchase program expired September 15, 2023. ​ On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% ​ Warrants ​ The following table represents the activity related to the Company’s warrants during the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average Exercise ​ ​ No. of warrant ​ exercise price ​ price range December 31, 2022 ​ 58,605 ​ $ 40.00 ​ $ 34 - 42.5 Granted — ​ $ — ​ $ ​ Exercised — ​ $ — ​ $ ​ Expired ​ (58,605) ​ $ 40.00 ​ $ 34 - 42.5 December 31, 2023 — ​ $ — ​ ​ — ​

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Measurements
Fair Value Measurements	Note 13. Fair Value Measurements ​ Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy exists, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are: ​ Level 1: ​ Level 2: ​ Level 3: ​ The following table presents the placement in the fair value hierarchy of the Company’s assets and liabilities measured at fair value on a recurring and nonrecurring basis as of December 31, 2023 and 2022. Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to tangible property and equipment, right-of-use assets, and other intangible assets, which are remeasured when the derived fair value is below carrying value in the consolidated balance sheets. Recoverability is based on estimated undiscounted cash flows or other relevant observable/unobservable measures. For these assets, the Company does not periodically adjust carrying value to fair value except in the event of impairment. If it is determined that impairment has occurred, the carrying value of the asset is reduced to fair value and the difference is included in Impairment of long-lived assets and Impairment of operating lease right-of-use assets on the consolidated statements of operations and comprehensive loss. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measurement at reporting date using ​ ​ ​ Quoted prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ active markets ​ Significant other ​ Significant ​ ​ ​ ​ ​ for identical ​ observable ​ unobservable ​ ​ Balance ​ assets (Level 1) ​ inputs (Level 2) ​ inputs (Level 3) As of December 31, 2023: ​ ​ ​ ​ Recurring fair value measurements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Route1, Inc. ​ $ 50 ​ $ — ​ $ 50 ​ $ — Total equity securities ​ ​ 50 ​ ​ — ​ ​ 50 ​ ​ — Total recurring fair value measurements ​ $ 50 ​ $ — ​ $ 50 ​ $ — Nonrecurring fair value measurements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment ​ ​ 2,454 ​ ​ — ​ ​ — ​ ​ 2,454 Intangible assets ​ ​ 1,353 ​ ​ — ​ ​ — ​ ​ 1,353 Total nonrecurring fair value measurements ​ $ 3,807 ​ $ — ​ $ — ​ $ 3,807 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ Recurring fair value measurements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Route1, Inc. ​ $ 104 ​ $ — ​ $ 104 ​ $ — Total equity securities ​ ​ 104 ​ ​ — ​ ​ 104 ​ ​ — Total recurring fair value measurements ​ $ 104 ​ $ — ​ $ 104 ​ $ — Nonrecurring fair value measurements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets ​ ​ 4,008 ​ ​ — ​ ​ — ​ ​ 4,008 Total nonrecurring fair value measurements ​ $ 4,008 ​ $ — ​ $ — ​ $ 4,008 ​ In addition to the above, the Company’s financial instruments as of December 31, 2023 and 2022 consisted of cash and cash equivalents, receivables and accounts payable. The carrying amounts of all the aforementioned financial instruments approximate fair value because of the short-term maturities of these instruments. The fair values of the Company’s asset groups were determined using the income approach. The income approach incorporated the use of a discounted cash flow method in which the estimated future cash flows and terminal values for the Company were discounted to a present value using a discount rate. Cash flow projections are based on management’s estimates of economic and market conditions which drive key assumptions of revenue growth rates, operating margins, capital expenditures and working capital requirements. The discount rate in turn is based on the specific risk characteristics of the Company, the weighted average cost of capital and its underlying forecast.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2023
Stock-based Compensation
Stock-based Compensation	Note 14. Stock-based Compensation ​ The Company has a stock-based compensation plan available to grant stock options and RSUs to the Company’s directors, employees and consultants. ​ In September 2020, the Board of Directors approved a new stock-based compensation plan available to grant stock options, restricted stock and Restricted Stock Units (“RSU’s”) aggregating to 250,000 shares of Common Stock, to the Company’s directors, employees and consultants. Shareholder approval of the plan was subsequently obtained on October 28, 2020. On October 4, 2022, shareholders approved the amendment to the Company’s 2020 Equity Incentive Plan to increase the number of shares authorized for issuance under the Plan by 375,000 shares of Common Stock to an aggregate of 625,000 shares. ​ The Company’s previous Employee, Director and Consultant Equity Incentive Plan (the “2012 Plan”) was terminated upon receipt of shareholder approval of the 2020 Plan. Awards granted under the 2012 Plan remain in effect pursuant to their terms. Generally, stock options are granted with exercise prices equal to the fair market value on the date of grant, vest in four equal quarterly installments, and expire 10 years from the date of grant. RSU’s granted generally vest over a period of one year. ​ In September 2020, XpresTest created a stock-based compensation plan available to grant stock options, restricted stock and RSU’s to the XpresTest’s directors, employees and consultants. Under the XpresTest 2020 Equity Incentive Plan (the “XpresTest Plan”), a maximum of 200 shares of XpresTest common stock may be awarded, which would represent 20% of the total number of shares of common stock of XpresTest as of December 31, 2023. Certain named executive officers, consultants, and directors of the Company are eligible to participate in the XpresTest Plan. The XpresTest Plan RSAs vest upon satisfaction of certain service and performance-based conditions. The fair value of the XpresTest Plan RSAs is determined based on the weighted average of (i) Fair Value of XpresTest under the Indirect Valuation Method developing assumptions for XpresSpa Net Market Cap and XpresSpa standalone Fair Value, and (ii) Direct Valuation Method developing assumptions for XpresTest Representative Forecasted Revenue for 2021 and Peer companies Revenue’s Multiples. ​ Awards granted under the 2012 Plan remain in effect pursuant to their terms. Generally, stock options are granted with exercise prices equal to the fair market value on the date of grant, vest in four equal quarterly installments, and expire 10 years from the date of grant. RSU’s granted generally vest over a period of one year. ​ In September 2020, XpresTest created a stock-based compensation plan available to grant stock options, Restricted Stock Awards (“RSAs”) and RSU’s to XpresTest’s directors, employees and consultants. Under the XpresTest 2020 Equity Incentive Plan (the “XpresTest Plan”), a maximum of 200 shares of XpresTest common stock may be awarded, which would represent 20% of the total number of shares of common stock of XpresTest as of September 30, 2023. Certain named executive officers, consultants, and directors of the Company are eligible to participate in the XpresTest Plan. As of December 31, 2023, there is $96 of unrecognized stock-based compensation related to the XpresTest Plan. ​ The fair value of stock options is estimated as of the date of grant using the Black-Scholes-Merton (“Black-Scholes”) option-pricing model. The Company uses the simplified method to estimate the expected term of options due to insufficient history and high turnover in the past. ​ The following variables were used as inputs in the model: ​ ​ ​ ​ ​ ​ Share price of the Company’s Common Stock on the grant date: $ 4.60 - 8.20 ​ Exercise price: ​ $ 4.60 - 8.20 ​ Expected volatility: ​ 119.41 - 121.04 % Expected dividend yield: ​ 0 % Annual average risk-free rate: ​ 3.65 - 4.19 % Expected term: ​ 6.32 - 6.41 years ​ Total stock-based compensation expense for the years ended December 31, 2023 and 2022 was $2,319 and $3,770 respectively. ​ The following tables summarize information about stock options and RSU activity during the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ Stock options ​ ​ Weighted ​ ​ Weighted ​ ​ ​ ​ ​ ​ average ​ ​ ​ average ​ Exercise ​ ​ No. of ​ grant date ​ No. of ​ exercise ​ price ​ ​ RSUs ​ fair value options ​ price ​ range Outstanding as of December 31, 2022 ​ 14,063 ​ $ 13.00 ​ 241,501 ​ $ 40.00 ​ $ 13.00 - 49,200 Granted ​ 16,944 ​ ​ 5.70 ​ 148,069 ​ ​ 7.88 ​ ​ 4.65 - 8.00 Exercised/Vested ​ (19,063) ​ ​ 10.85 ​ — ​ ​ — ​ ​ ​ Forfeited ​ — ​ ​ — ​ (16,699) ​ ​ 24.08 ​ ​ 8.00 - 32.20 Expired ​ — ​ — ​ (31,666) ​ ​ 38.69 ​ ​ 8.00 - 38,160 Outstanding as of December 31, 2023 ​ 11,944 ​ $ 6.08 ​ 341,205 ​ $ 26.85 ​ $ 4.60 - 49,200 Exercisable as of December 31, 2023 ​ ​ ​ ​ ​ ​ 244,271 ​ $ 26.65 ​ $ 4.60 - 49,200 ​ The following tables summarize information about stock options and RSU activity during the year ended December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ Stock options ​ ​ Weighted ​ Weighted ​ ​ ​ ​ ​ ​ average ​ ​ ​ average ​ Exercise ​ ​ No. of ​ grant date ​ No. of ​ exercise ​ price ​ ​ RSUs ​ fair value ​ options ​ price ​ range Outstanding as of December 31, 2021 ​ 30,000 ​ $ 32.60 ​ 141,344 ​ $ 51.40 ​ $ 23.80 - 49,200 Granted ​ 26,563 ​ ​ 16.80 ​ 117,517 ​ ​ 29.20 ​ ​ 13.00 - 32.80 Exercised/Vested ​ (42,500) ​ ​ 29.20 ​ — ​ ​ — ​ ​ ​ Forfeited ​ — ​ ​ — ​ (12,252) ​ ​ 31.00 ​ ​ 28.60 - 76.40 Expired ​ — ​ — ​ (5,108) ​ ​ 121.0 ​ ​ 28.80 - 44,640 Outstanding as of December 31, 2022 ​ 14,063 ​ $ 13.00 ​ 241,501 ​ $ 40.00 ​ $ 13.00 - 49,200 Exercisable as of December 31, 2022 ​ ​ ​ ​ ​ ​ 103,063 ​ $ 51.20 ​ $ 23.80 - 49,200 ​ The weighted average remaining contractual term for options outstanding as of December 31, 2023 and 2022 was 7.71 years and 7.83 years, respectively. ​ As of December 31, 2023, Aggregate Intrinsic Value of Options Outstanding and Vested was $0 . As of December 31, 2022, Aggregate Intrinsic Value of Options Outstanding and Vested was ​ Unrecognized stock-based payment cost related to non-vested stock options as of December 31, 2023 and 2022 were $1,246 and $2,506, respectively. ​ Unrecognized stock-based payment cost related to non-vested RSUs as of December 31, 2023 and 2022 were $73 and $183, respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Information
Segment Information	Note 15. Segment Information ​ As a result of the Company’s transition to a pure-play wellness services company, the Company currently has four reportable operating segments: XpresSpa, XpresTest, Naples Wax Center, and Treat. The Company analyzes the results of the Company’s business through the four reportable segments. The XpresSpa segment provides travelers premium spa services, including massage, nail and skin care, as well as spa and travel products. The XpresTest segment provided diagnostic COVID-19 tests at XpresCheck Wellness Centers in airports, to airport employees and to the traveling public but has transitioned to the CDC’s bio-surveillance program. XpresTest’s HyperPointe business provides a broad range of service and support options for its customers, including technical support services and advanced services. The Treat segment is a wellness brand that provides access to wellness services for travelers at on-site centers. The Naples Wax Center segment operates three high-performing locations with core products and service offerings from face and body waxing to a range of skincare and cosmetic products. The Treat segment is a wellness brand that provides access to wellness services for travelers at on-site centers. The chief operating decision maker evaluates the operating results and performance of the Company’s segments through operating income. Expenses that can be specifically identified with a segment have been included as deductions in determining operating income. Any remaining expenses and other charges are included in Corporate and Other. The Company currently operates in two geographical regions: United States and all other countries, which include Netherlands, Turkey and United Arab Emirates. The following table represents the geographical revenue, and total long-lived asset information as of and for the years ended December 31, 2023 and 2022. There were no concentrations of geographical revenue and long-lived assets related to any single foreign country that were material to the Company’s consolidated financial statements. Long-lived assets include property and equipment, restricted cash, equity investments, security deposits, right of use lease assets and goodwill. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ 2023 2022 Revenue ​ ​ United States ​ $ 24,944 ​ $ 52,250 All other countries ​ 5,165 ​ 3,689 Total revenue ​ $ 30,109 ​ $ 55,939 Long-lived assets ​ ​ United States ​ $ 8,169 ​ $ 15,084 All other countries ​ 2,669 ​ 3,710 Total long-lived assets ​ $ 10,838 ​ $ 18,794 ​ ​ The Company’s continuing operating segments are defined as components of an enterprise about which separate financial information is available that is regularly evaluated by the enterprise’s CODM in deciding how to allocate resources and in assessing performance. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ 2023 2022 Revenue ​ ​ XpresSpa ​ $ 19,067 ​ $ 13,680 XpresTest ​ ​ 9,912 ​ ​ 40,867 Naples Wax ​ ​ 686 ​ ​ — Treat ​ ​ 444 ​ ​ 1,392 Corporate and other ​ — ​ — Total revenue ​ $ 30,109 ​ $ 55,939 ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ ​ 2023 2022 Operating loss ​ ​ XpresSpa ​ $ (12,951) ​ $ (12,910) XpresTest ​ ​ (4,701) ​ ​ 1,238 Naples Wax ​ ​ 162 ​ ​ — Treat ​ ​ (2,315) ​ ​ (10,577) Corporate and other ​ (8,401) ​ (8,914) Total operating loss ​ $ (28,206) ​ $ (31,163) ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ ​ 2023 ​ 2022 Depreciation & Amortization ​ ​ ​ ​ ​ ​ XpresSpa ​ $ 1,443 ​ $ 1,479 XpresTest ​ 276 ​ 2,043 Naples Wax ​ ​ 36 ​ ​ — Treat ​ ​ 264 ​ ​ 1,876 Corporate and other ​ 46 ​ 31 Total depreciation & amortization ​ $ 2,065 ​ $ 5,429 ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ ​ 2023 ​ 2022 Capital Expenditures ​ ​ ​ ​ ​ ​ XpresSpa ​ $ 1,678 ​ $ 2,134 XpresTest ​ 82 ​ 775 Naples Wax ​ ​ — ​ ​ — Treat ​ ​ 60 ​ ​ 3,274 Corporate and other ​ 27 ​ 110 Total capital expenditures ​ $ 1,847 ​ $ 6,293 ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ ​ 2023 ​ 2022 Long-lived Assets ​ ​ ​ ​ ​ ​ XpresSpa ​ $ 8,268 ​ ​ 11,851 XpresTest ​ 92 ​ ​ 4,220 Naples Wax ​ ​ 1,371 ​ ​ — Treat ​ ​ 669 ​ ​ 2,314 Corporate and other ​ 438 ​ ​ 409 Total long-lived Assets ​ $ 10,838 ​ $ 18,794 ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ ​ 2023 2022 Assets ​ ​ XpresSpa ​ $ 18,453 ​ $ 21,135 XpresTest ​ 2,408 ​ 11,198 Naples Wax ​ ​ 2,951 ​ ​ — Treat ​ ​ 848 ​ ​ 3,186 Corporate and other ​ 14,333 ​ 34,907 Total assets ​ $ 38,993 ​ $ 70,426 ​ Long-lived assets includes property and equipment, right of use lease assets, security deposits, equity investments, goodwill and restricted cash. ​ The Company performed impairment assessments of long-lived assets and operating lease right-of-use asset for the years ended December 31, 2023 and 2022. Based upon the results of the impairment tests, the Company recorded impairment expenses of long-lived assets for approximately $234, $925 and $4,024 for its XpresSpa, Treat and XpresTest’s HyperPointe business segments respectively for the year ended December 31, 2023. Additionally, the Company recorded impairment expenses of lease right-of-use asset for approximately $484, and $442 for its XpresSpa and Treat segments respectively for the year ended December 31, 2023. For the year ended December 31, 2022 the Company recorded impairment expenses of long-lived assets for approximately $619, $677 and $3,373 for its XpresSpa, XpresTest and Treat segments respectively and impairment expenses of operating lease right-of-use asset for approximately $936, $38 and $136 for its XpresSpa, XpresTest and Treat segments, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2023
Accrued Expenses and Other Current Liabilities
Accrued Expenses and Other Current Liabilities	Note 16. Accrued Expenses and Other Current Liabilities ​ As of December 31, 2023, and 2022, the Company’s accrued expenses and other current liabilities were comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 Litigation accrual ​ $ 449 ​ ​ $ 963 Accrued compensation ​ 2,098 ​ ​ 2,008 Tax-related liabilities ​ 501 ​ ​ 573 Common area maintenance accruals ​ ​ 8 ​ ​ ​ 160 AP Accruals ​ ​ 913 ​ ​ ​ 754 Gift certificates ​ 509 ​ ​ 496 Credit card processing fees ​ ​ 8 ​ ​ ​ 33 Other miscellaneous accruals ​ 482 ​ ​ 732 Total accrued expenses and other current liabilities ​ $ 4,968 ​ ​ $ 5,719 ​

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes.
Income Taxes	Note 17. Income Taxes ​ For the years ended December 31, 2023 and 2022, the loss before income taxes consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Domestic ​ $ (27,573) ​ $ (32,445) Foreign ​ (421) ​ (129) ​ ​ $ (27,994) ​ $ (32,574) ​ ​ Income tax expense for the years ended December 31, 2023 and 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, ​ 2023 2022 Current: ​ ​ Federal ​ $ — ​ $ — State ​ 15 ​ 41 Foreign ​ 20 ​ 14 Deferred: ​ ​ Federal ​ — ​ — ​ ​ $ 35 ​ $ 55 ​ Income tax expense differed from the amounts computed by applying the applicable United States federal income tax rate to loss from continuing operations before taxes on income as a result of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, ​ 2023 2022 Loss from operations before income taxes ​ $ (27,994) ​ $ (32,574) ​ Tax rate ​ 21 % 21 % ​ ​ ​ ​ ​ ​ ​ ​ Computed “expected” tax benefit ​ (5,879) ​ (6,841) ​ State taxes, net of federal income tax (expense) benefit ​ (1,027) ​ 706 ​ Change in valuation allowance ​ 9,166 ​ 7,015 ​ Adjustment JV Basis ​ ​ — ​ ​ 339 ​ Nondeductible expenses ​ 212 ​ 341 ​ Other Adjustments ​ ​ 2 ​ ​ — ​ Return to Provision Adjustment ​ ​ (1,860) ​ ​ (94) ​ International Rate Differential ​ ​ (14) ​ ​ — ​ State Deferred Rate Change ​ ​ (87) ​ ​ (570) ​ Asset Impairment Adjustment ​ ​ (730) ​ ​ (810) ​ Other items ​ 252 ​ (31) ​ Income tax expense ​ $ 35 ​ $ 55 ​ ​ ​ Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 Deferred income tax assets ​ ​ Net operating loss carryforwards ​ $ 60,263 ​ $ 51,932 Stock-based compensation ​ 1,532 ​ 1,029 Intangible assets and other ​ 7,629 ​ 7,298 Net deferred income tax assets ​ 69,424 ​ 60,259 Less: ​ ​ Valuation allowance ​ (69,424) ​ (60,259) Net deferred income tax assets ​ $ — ​ $ — ​ ​ The Company assesses the need for a valuation allowance related to its deferred income tax assets by considering whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. A valuation allowance has been recorded against the Company’s deferred income tax assets, as it is in the opinion of management that it is more likely than not that the net operating loss carryforwards (“NOL”) will not be utilized in the foreseeable future. ​ The cumulative valuation allowance as of December 31, 2023 is $69,424 which will be reduced if and when the Company determines that the deferred income tax assets are more likely than not to be realized. ​ ​ ​ ​ ​ As of January 1, 2022 $ 53,298 Charged to cost and expenses ​ 6,864 Return to provision true-up and other ​ 97 As of December 31, 2022 ​ 60,259 Charged to cost and expenses ​ 7,299 Return to provision true-up and other ​ 1,866 As of December 31, 2023 ​ $ 69,424 ​ As of December 31, 2023, the Company’s estimated aggregate total NOLs were $150,926 for U.S. federal purposes, expiring 20 years from the respective tax years to which they relate, and $97,968 for U.S. federal purposes with an indefinite life due to new regulations in the Tax Cuts and Jobs Act of 2017. The NOL amounts are presented before Internal Revenue Code, Section 382 limitations (“Section 382”). The Tax Reform Act of 1986 imposed substantial restrictions on the utilization of NOL and tax credits in the event of an ownership change of a corporation. Thus, the Company’s ability to utilize all such NOL and credit carryforwards may be limited. The Coronavirus Aid, Relief, and Economic Security Act or “CARES Act” was enacted subsequent to the December 31, 2019 period, on March 27, 2020. The CARES act provided for favorable business provisions. However, the Company does not anticipate the income tax provision changes to materially benefit the Company. ​ The Company files its tax returns in the U.S. federal jurisdiction, as well as in various state and local jurisdictions. The company is not currently under audit in any taxing jurisdictions. The federal statute of limitations for audit consideration is 3 years from the filing date, and generally states implement a statute of limitations between 3 and 5 years.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies
Commitments and Contingencies	Note 18. Commitments and Contingencies ​ Certain of the Company’s outstanding legal matters include speculative claims for substantial or indeterminate amounts of damages. The Company regularly evaluates developments in its legal matters that could affect the amount of any potential liability and makes adjustments as appropriate. Significant judgment is required to determine both the likelihood of there being any potential liability and the estimated amount of a loss related to the Company’s legal matters. ​ With respect to the Company’s outstanding legal matters, based on its current knowledge, the Company’s management believes that the amount or range of a potential loss will not, either individually or in the aggregate, have a material adverse effect on its business, consolidated financial position, results of operations or cash flows. However, the outcome of such legal matters is inherently unpredictable and subject to significant uncertainties. The Company evaluated the outstanding legal matters and assessed the probability and likelihood of the occurrence of liability. Based on management’s estimates, the Company has recorded accruals of $449 and $963 as of December 31, 2023 and December 31, 2022 respectively, which is included in Accrued expenses and other current liabilities ​ The Company expenses legal fees in the period in which they are incurred. ​ OTG Management PHL B v. XpresSpa Philadelphia Terminal B et al. ​ On May 9, 2022, a lawsuit was filed in the Philadelphia Court of Common Pleas by OTG Management at Philadelphia International Airport, claiming that XWELL improperly backed out of its sublease for space at Terminal B and now owes between $864 and $2,250 in accelerated rent for the 12-year ​ In addition to those matters specifically set forth herein, the Company and its subsidiaries are involved in various other claims and legal actions that arise in the ordinary course of business. The Company does not believe that the ultimate resolution of these actions will have a material adverse effect on the Company’s financial position, results of operations, liquidity, or capital resources. However, a significant increase in the number of these claims, or one or more successful claims under which the Company incurs greater liabilities than the Company currently anticipates, could materially adversely affect the Company’s business, financial condition, results of operations and cash flows. In the event that an action is brought against the Company or one of its subsidiaries, the Company will investigate the allegation and vigorously defend itself. ​ Leases ​ XpresSpa is contingently liable to a surety company under certain general indemnity agreements required by various airports relating to its lease agreements. XpresSpa agrees to indemnify the surety for any payments made on contracts of suretyship, guaranty, or indemnity. The Company believes that all contingent liabilities will be satisfied by its performance under the specified lease agreements. ​

Restatement of Previously Issue

Restatement of Previously Issued Financial Statements	12 Months Ended
	Dec. 31, 2023
Restatement of Previously Issued Financial Statements
Restatement of Previously Issued Financial Statements	Note 19. Restatement of Previously Issued Financial Statements (Unaudited) In connection with the preparation of the Company’s annual 10-K for the year ended December 31, 2023, the Company concluded that in the prior quarter it had not appropriately accounted for the impairment of long-lived assets. These errors led to an understatement of impairment expenses and an overstatement of long-lived assets during the impacted periods. The Company’s management and in agreement with the audit committee have determined that the previously issued unaudited financial statements for the three and nine-month period ended September 30, 2023 “the Affected period” should no longer be relied upon due to this error and require restatement. The financial effect of this error from previously reported information for the quarter ended September 30, 2023, resulted in an increase in net loss of $1,613, primarily as a result of additional impairment expense The following presents a reconciliation of the impacted financial statements as filed to the restated amounts as of September 30, 2023. The previously reported amounts reflect those included in the filing of the Company’s Quarterly Report on Form 10-Q as of and for the period ended September 30, 2023, filed with the SEC on November 14, 2023. The amounts labelled as “Restated” represent the effects of this restatement due to additional impairment expense on the Company’s Treat segment right-of-use and fixed assets. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restatement ​ ​ ​ ​ As Filed Adjustments As restated ​ ​ September 30, ​ September 30, ​ September 30, ​ ​ 2023 ​ 2023 ​ 2023 ​ ​ (unaudited) ​ (unaudited) ​ (unaudited) Current assets ​ ​ ​ Cash and cash equivalents ​ $ 4,827 ​ $ — ​ $ 4,827 Marketable Securities ​ 21,311 ​ — ​ 21,311 Accounts receivable ​ 1,193 ​ — ​ 1,193 Inventory ​ 968 ​ — ​ 968 Other current assets ​ 1,663 ​ — ​ 1,663 Total current assets ​ 29,962 ​ — ​ 29,962 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted cash ​ 751 ​ — ​ 751 Property and equipment, net ​ 3,801 ​ (1,096) ​ 2,705 Intangible assets, net ​ 2,174 ​ — ​ 2,174 Operating lease right of use assets, net ​ 6,075 ​ (517) ​ 5,558 Other assets ​ 1,787 ​ — ​ 1,787 Total assets ​ $ 44,550 ​ $ (1,613) ​ $ 42,937 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ ​ ​ Accounts payable ​ $ 1,511 ​ $ — ​ $ 1,511 Accrued expenses and other current liabilities ​ 4,198 ​ — ​ 4,198 Current portion of operating lease liabilities ​ 2,375 ​ — ​ 2,375 Deferred revenue ​ 73 ​ — ​ 73 Total current liabilities ​ 8,157 ​ — ​ 8,157 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term liabilities ​ ​ ​ Operating lease liabilities ​ 9,123 ​ — ​ 9,123 Total liabilities ​ 17,280 ​ — ​ 17,280 Commitments and contingencies (see Note 13) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity ​ ​ ​ Common Stock, $0.01 par value per share, 150,000,000 shares authorized; 4,174,381 and 4,161,613 shares issued outstanding ​ 42 ​ — ​ 42 Additional paid-in capital ​ 470,270 ​ — ​ 470,270 Accumulated deficit ​ (449,269) ​ (1,613) ​ (450,882) Accumulated other comprehensive loss ​ (1,642) ​ — ​ (1,642) Total equity attributable to XWELL, Inc. ​ 19,401 ​ (1,613) ​ 17,788 Noncontrolling interests ​ 7,869 ​ — ​ 7,869 Total equity ​ 27,270 ​ (1,613) ​ 25,657 Total liabilities and equity ​ $ 44,550 ​ $ (1,613) ​ $ 42,937 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restatement ​ ​ ​ ​ ​ Restatement ​ ​ ​ As Filed Adjustments As Restated ​ As Filed ​ Adjustments ​ As Restated ​ ​ Three months ​ Three months ​ Three months ​ Nine months ​ Nine months ​ Nine months ​ ​ ended ​ ended ​ ended ​ ended ​ ended ​ ended ​ ​ September 30, ​ September 30, ​ September 30, ​ September 30 ​ September 30 ​ September 30 ​ ​ 2023 ​ 2023 ​ 2023 ​ 2023 ​ 2023 ​ 2023 ​ ​ (unaudited) ​ (unaudited) ​ (unaudited) ​ (unaudited) ​ (unaudited) ​ (unaudited) Revenue, net ​ ​ ​ ​ ​ ​ Patient services revenue ​ $ — ​ $ — ​ $ — ​ $ 148 ​ $ — ​ $ 148 Services ​ 6,709 ​ — ​ 6,709 ​ 20,485 ​ — ​ 20,485 Products ​ 747 ​ — ​ 747 ​ 2,044 ​ — ​ 2,044 Other ​ 12 ​ — ​ 12 ​ 29 ​ — ​ 29 Total revenue, net ​ 7,468 ​ — ​ 7,468 ​ 22,706 ​ — ​ 22,706 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of sales ​ ​ ​ ​ ​ ​ Labor ​ 4,462 ​ — ​ 4,462 ​ 13,609 ​ — ​ 13,609 Occupancy ​ 1,063 ​ — ​ 1,063 ​ 3,237 ​ — ​ 3,237 Products and other operating costs ​ 852 ​ — ​ 852 ​ 3,057 ​ — ​ 3,057 Total cost of sales ​ 6,377 ​ — ​ 6,377 ​ 19,903 ​ — ​ 19,903 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Profit ​ 1,091 ​ — ​ 1,091 ​ 2,803 ​ — ​ 2,803 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ 590 ​ — ​ 590 ​ 1,770 ​ — ​ 1,770 Impairment of long-lived assets ​ 6,782 ​ 1,096 ​ 7,878 ​ 6,782 ​ 1,096 ​ 7,878 Impairment of operating lease right-of-use assets ​ — ​ 517 ​ 517 ​ — ​ 517 ​ 517 Loss on disposal of assets ​ 16 ​ — ​ 16 ​ 34 ​ — ​ 34 Advertising and promotion expense ​ 313 ​ — ​ 313 ​ 628 ​ — ​ 628 IT/Hosting services ​ 273 ​ — ​ 273 ​ 1,186 ​ — ​ 1,186 Other general and administrative expenses ​ 3,593 ​ — ​ 3,593 ​ 13,891 ​ — ​ 13,891 Total operating expenses ​ 11,567 ​ 1,613 ​ 13,180 ​ 24,291 ​ 1,613 ​ 25,904 Operating loss ​ (10,476) ​ (1,613) ​ (12,089) ​ (21,488) ​ (1,613) ​ (23,101) Interest income, net ​ 105 ​ — ​ 105 ​ 334 ​ — ​ 334 Foreign exchange remeasurement gain/(loss) ​ 366 ​ — ​ 366 ​ (690) ​ — ​ (690) Gain on Securities, realized and unrealized ​ 225 ​ — ​ 225 ​ 703 ​ — ​ 703 Other non-operating expense, net ​ (198) ​ — ​ (198) ​ (345) ​ — ​ (345) Loss before income taxes ​ (9,978) ​ (1,613) ​ (11,591) ​ (21,486) ​ (1,613) ​ (23,099) Income tax expense ​ — ​ — ​ — ​ — ​ — ​ — Net loss ​ (9,978) ​ (1,613) ​ (11,591) ​ (21,486) ​ (1,613) ​ (23,099) Net (income) loss attributable to noncontrolling interests ​ 60 ​ — ​ 60 ​ 329 ​ — ​ 329 Net loss attributable to XWELL, Inc. ​ $ (9,918) ​ $ (1,613) ​ $ (11,531) ​ $ (21,157) ​ $ (1,613) ​ $ (22,770) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (9,978) ​ $ (1,613) ​ $ (11,591) ​ $ (21,486) ​ $ (1,613) ​ $ (23,099) Other comprehensive loss ​ (514) ​ — ​ (514) ​ (1,108) ​ — ​ (1,108) Comprehensive loss from continuing operations ​ (10,492) ​ (1,613) ​ (12,105) ​ (22,594) ​ (1,613) ​ (24,207) Comprehensive loss ​ $ (10,492) ​ $ (1,613) ​ $ (12,105) ​ $ (22,594) ​ $ (1,613) ​ $ (24,207) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss per share ​ ​ ​ ​ ​ ​ Basic and diluted loss per share* ​ $ (2.38) ​ $ (0.39) ​ $ (2.76) ​ $ (5.07) ​ $ (0.39) ​ $ (5.46) Weighted-average number of shares outstanding during the period ​ ​ ​ ​ ​ ​ Basic and diluted* ​ 4,173,894 ​ 4,173,894 ​ 4,173,894 ​ 4,170,629 ​ 4,170,629 ​ 4,170,629 Diluted ​ 4,173,894 ​ 4,173,894 ​ 4,173,894 ​ 4,170,629 ​ 4,170,629 ​ 4,170,629 ​ * Adjusted to reflect the impact of the 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ other ​ Total ​ Non- ​ ​ ​ ​ Common stock ​ Treasury Stock ​ paid- ​ Accumulated ​ comprehensive ​ Company ​ controlling ​ Total ​ ​ Shares* ​ Amount ​ Shares* ​ Amount ​ in capital ​ deficit ​ loss ​ equity ​ interests ​ equity December 31, 2022 4,161,613 $ 42 — ​ — $ 468,530 $ (428,112) $ (534) $ 39,926 $ 8,023 $ 47,949 Issuance of restricted stock units 6,015 ​ — — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Value of shares withheld to fund payroll taxes — ​ — — ​ — ​ (22) ​ — ​ — ​ (22) ​ — ​ (22) Stock-based compensation — ​ — — ​ — ​ 589 ​ — ​ — ​ 589 ​ 23 ​ 612 Net loss for the period — ​ — — ​ — ​ — ​ (5,509) ​ — ​ (5,509) ​ (320) ​ (5,829) Foreign currency translation — ​ — — ​ — ​ — ​ — ​ (130) ​ (130) ​ 11 ​ (119) March 31, 2023 4,167,628 ​ $ 42 — ​ $ — ​ $ 469,097 ​ $ (433,621) ​ $ (664) ​ $ 34,854 ​ $ 7,737 ​ $ 42,591 Issuance of restricted stock units 3,297 ​ — — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Stock-based compensation — ​ — — ​ — ​ 603 ​ — ​ — ​ 603 ​ 23 ​ 626 Distributions to noncontrolling interests — ​ — — ​ — ​ — ​ — ​ — ​ — ​ (120) ​ (120) Foreign currency translation — ​ — — ​ — ​ — ​ — ​ (464) ​ (464) ​ 46 ​ (418) Net loss for the period — ​ — — ​ — ​ — ​ (5,730) ​ — ​ (5,730) ​ 51 ​ (5,679) June 30, 2023 4,170,925 ​ $ 42 — ​ $ — ​ $ 469,700 ​ $ (439,351) ​ $ (1,128) ​ $ 29,263 ​ $ 7,737 ​ $ 37,000 Issuance of restricted stock units 3,456 ​ — — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Stock-based compensation — ​ — — ​ — ​ 567 ​ — ​ — ​ 567 ​ 24 ​ 591 Grant of stock for services — ​ — — ​ — ​ 3 ​ — ​ — ​ 3 ​ — ​ 3 Contributions from noncontrolling interests — ​ — — ​ — ​ — ​ — ​ — ​ — ​ 150 ​ 150 Foreign currency translation — ​ — — ​ — ​ — ​ — ​ (514) ​ (514) ​ 18 ​ (496) Net loss for the period — ​ — — ​ — ​ — ​ (9,918) ​ — ​ (9,918) ​ (60) ​ (9,978) September 30, 2023 as filed ​ 4,174,381 ​ $ 42 — ​ $ — ​ $ 470,270 ​ $ (449,269) ​ $ (1,642) ​ $ 19,401 ​ $ 7,869 ​ $ 27,270 Restatement ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (1,613) ​ ​ — ​ ​ (1,613) ​ ​ — ​ ​ (1,613) September 30, 2023 as restated 4,174,381 ​ $ 42 — ​ $ — ​ $ 470,270 ​ $ (450,882) ​ $ (1,642) ​ $ 17,788 ​ $ 7,869 ​ $ 25,657 ​ * Adjusted to reflect the impact of the 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restatement ​ ​ ​ ​ As Filed ​ Adjustments ​ As Restated ​ ​ September 30 ​ September 30 ​ September 30 ​ ​ 2023 ​ 2023 ​ 2023 ​ ​ (unaudited) ​ (unaudited) ​ (unaudited) Cash flows from operating activities ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (21,486) ​ $ (1,613) ​ $ (23,099) Adjustments to reconcile net loss to net cash used in operating activities: ​ ​ ​ Depreciation and amortization ​ 1,770 ​ — ​ 1,770 Impairment of long lived assets ​ 6,782 ​ 1,613 ​ 8,395 Foreign currency remeasurement loss ​ 690 ​ — ​ 690 Loss on disposal of assets ​ 34 ​ — ​ 34 Gain on lease termination ​ (821) ​ — ​ (821) Unrealized gain on marketable securities ​ (668) ​ — ​ (668) Amortization of operating lease right of use asset ​ 1,163 ​ — ​ 1,163 Stock-based compensation ​ 1,832 ​ — ​ 1,832 Loss on equity investment ​ 53 ​ — ​ 53 Changes in assets and liabilities: ​ ​ ​ Decrease in inventory ​ 192 ​ — ​ 192 Decrease (increase) in accounts receivable ​ 1,665 ​ — ​ 1,665 Increase in other assets, current and non-current ​ (336) ​ — ​ (336) Increase in deferred revenue ​ (266) ​ — ​ (266) Increase in other liabilities, current and non-current ​ (3,226) ​ — ​ (3,226) Decrease in accounts payable ​ (251) ​ — ​ (251) Net cash used in operating activities ​ (12,873) ​ — ​ (12,873) Cash flows from investing activities ​ ​ ​ Acquisition of property and equipment ​ (1,639) ​ — ​ (1,639) Investment in marketable securities ​ (1,991) ​ — ​ (1,991) Sale of marketable securities ​ 4,500 ​ — ​ 4,500 Acquisition of Naples Wax ​ (1,574) ​ — ​ (1,574) Acquisition of intangibles ​ (468) ​ — ​ (468) Net cash used in investing activities ​ (1,172) ​ — ​ (1,172) Cash flows from financing activities ​ ​ ​ Contributions from noncontrolling interests ​ 150 ​ — ​ 150 Payments for shares withheld on vesting ​ (22) ​ — ​ (22) Distributions to noncontrolling interests ​ (120) ​ — ​ (120) Net cash provided by (used in) financing activities ​ 8 ​ — ​ 8 Effect of exchange rate changes on cash, cash equivalents and restricted cash ​ (174) ​ — ​ (174) Decrease in cash, cash equivalents and restricted cash ​ (14,211) ​ — ​ (14,211) Cash, cash equivalents, and restricted cash at beginning of the period ​ 19,789 ​ — ​ 19,789 Cash, cash equivalents, and restricted cash at end of the period ​ $ 5,578 ​ $ — ​ $ 5,578 Cash paid for ​ ​ ​ Income taxes ​ $ 142 ​ $ — ​ $ 142 Non-cash investing and financing transactions ​ ​ ​ Capital expenditures included in Accounts payable, accrued expenses and other current liabilities ​ $ 197 ​ $ — ​ $ 197 ​

Accounting and Reporting Poli_2

Accounting and Reporting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting and Reporting Policies
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. 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.
Use of estimates	Use of estimates 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.
Translation into United States dollars	Translation into United States dollars The Company conducts certain transactions in foreign currencies, which are recorded at the exchange rate as of the transaction date. All exchange gains and losses occurring from the remeasurement of monetary balance sheet items denominated in non-dollar currencies are deemed non-operating income in the consolidated statements of operations and comprehensive loss. During 2023 and 2022, the Company recorded $738 and $664, respectively, in exchange losses occurring from the remeasurement of monetary balance sheet items denominated in non-dollar currencies. Accounts of the foreign subsidiaries of XpresSpa are translated into United States dollars. Assets and liabilities have been translated primarily at year end exchange rates and revenues and expenses have been translated at average monthly rates for the year. The translation adjustments arising from the use of different exchange rates are included as foreign currency translation within the consolidated statements of operations and comprehensive income (loss) and consolidated statements of changes in stockholders’ equity.
Cash and cash equivalents	Cash and cash equivalents The Company maintains cash in checking and money market accounts with financial institutions. The Company has established guidelines relating to diversification and maturities of its investments in order to minimize credit risk and maintain high liquidity of funds. The Company considers all highly liquid investments purchased with an original maturity of three months or less from the time they are acquired to be cash equivalents. The Company had $4,025 of such investments as of December 31, 2023 and $1,885 as of December 31, 2022.
Accounts Receivables	Accounts Receivables Accounts receivables are reported at their outstanding unpaid principal balances, net of allowances for credit loss. The Company periodically assesses its accounts and other receivables for collectability on a specific identification basis. The Company provides for an allowance for credit loss based on management’s estimate of uncollectible amounts considering age, collection history, and any other factors considered appropriate. Payments are generally due within 30 days of invoice. The Company writes off accounts receivable against the allowance for credit loss when a balance is determined to be uncollectible. During the year ended December 31, 2023 and 2022, the Company did not write off any accounts receivable. The Company did not record an allowance for credit loss for the year ended December 31, 2023 and December 31, 2022, respectively.
Inventory	Inventory All inventory is valued at the lower of cost or net realizable value. Cost is determined using a weighted-average cost method.
Intangible assets	Intangible assets Intangible assets include customer relationships, trade names, and technology, which were primarily acquired as part of the acquisition of XpresSpa in December 2016, HyperPointe in 2022 and Naples Wax Center in 2023 and were recorded based on the estimated fair value in purchase price allocation. In addition, intangible assets include software and website development costs that were capitalized as part of the Company’s development of a mobile application and website for the Treat brand. The Company accounts for these costs in accordance with ASC 350-40, Internal-Use Software. The intangible assets are amortized over their estimated useful lives, which are periodically evaluated for reasonableness. The Company’s intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The fair value is then compared to the carrying value and an impairment charge is recognized by the amount in which the carrying value exceeds the fair value of the asset. In assessing the recoverability of the Company’s intangible assets, the Company must make estimates and assumptions regarding future cash flows and other factors to determine the fair value of the respective assets. These estimates and assumptions could have a significant impact on whether an impairment charge is recognized and also the magnitude of any such charge. Fair value estimates are made at a specific point in time, based on relevant information. During the years ended December 31, 2023 and 2022, the Company recognized impairment of $2,768 and $110 respectively. The Company also impaired intangible assets pertaining to its Treat and XpresTest segments.
Property and Equipment	Property and Equipment Property and equipment are recorded at historical cost and primarily consists of leasehold improvements, furniture and fixtures, and other operating equipment. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are depreciated over the lesser of the lease term or economic useful life. Maintenance and repairs are charged to expense, and renovations or improvements that extend the service lives of the Company’s assets are capitalized over the lesser of the extension period or life of the improvement.
Impairment of long-lived assets	Impairment of long-lived assets Long-lived assets are tested for impairment at the lowest level at which there are identifiable operating cash flows, which is at the individual airport location for the XpresSpa and XpresTest businesses. The Company’s long-lived assets consist primarily of leasehold improvements and right to use lease assets for each of its airport locations (considered the asset group). The Company reviews its long-lived assets for recoverability yearly or sooner if events or changes in circumstances indicate that the carrying value of long-lived assets may not be recoverable. If indicators are present, the Company performs a recoverability test by comparing the sum of the estimated undiscounted future cash flows attributable to the asset group in question to its carrying amount. An impairment loss is recognized if it is determined that the long-lived asset group is not recoverable and is calculated based on the excess of the carrying amount of the long-lived asset group over the long-lived asset groups fair value. The Company estimates the fair value of long-lived assets using present value income approach. Future cash flow was calculated based on forecasts over the estimated remaining useful life of the asset group, which for each of the Company’s airport locations, is the remaining term of the operating lease. The Company completed an assessment of its property and equipment and operating lease right of use assets for impairment as of December 31, 2023 and 2022. Based upon the results of the impairment test, the Company recorded an impairment expense related to property and equipment of $1,159 and $4,559 as of December 31, 2023 and 2022, respectively. Additionally, the Company recorded an impairment expense related to operating lease right of use assets and $926, and $1,110 as of December 31, 2023 and 2022, respectively. Both impairment charges are recorded on the consolidated statements of operations and comprehensive loss. The expense was primarily related to the impairment of leasehold improvements made to the Company’s Treat and Spa locations and its operating lease right of use assets where
Leases	Leases The right of use asset (“ROU”) on the Company’s consolidated balance sheet represents a lessee’s right to use an asset over the life of a lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term, plus any lease payments made to the lessor before the lease commencement date, plus any initial direct costs incurred, minus any lease incentives received. The amortization period for the right of use asset is from the lease commencement date to the earlier of the end of the lease term or the end of the useful life of the asset. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected to exclude all short-term leases (i.e, leases with term of 12 months or less) from recognition on the balance sheet. The Company’s lease liabilities are determined by calculating the present value of all future lease payments using the rate implicit in the lease if it can be readily determined, or the lessee’s incremental borrowing rate. The Company uses its incremental borrowing rate at the inception of the lease to determine the present value of future lease payments as the rate implicit in its leases could not be readily determined. Certain leases provide for contingent rents that are not measurable at inception. These contingent rents are primarily based on a percentage of sales that are in excess of a predetermined level, an increase based on a change in the consumer price index or fair market value. These amounts are excluded from the calculation of the right of use asset and lease liability under ASC 842. Minimum rent under these leases is included in the determination of rent expense when it is probable that the expense has been incurred and the amount can be reasonably estimated.
Restricted cash	Restricted cash Restricted cash, which is listed as a separate line item in the consolidated balance sheets, represents balances at financial institutions to secure bonds and letters of credit as required by the Company’s various lease agreements.
Equity investments	Equity investments Equity investments are carried at fair value with the changes in fair value recorded in the consolidated statement of operations and other comprehensive income (loss) in accordance with ASU 2016-01. The Company will perform a qualitative assessment on an annual basis and recognize impairment if there are sufficient indicators that the fair value of the investment is less than the carrying value. As of the year ended December 31, 2023, there were no indicators of impairment.
Revenue recognition	Revenue recognition XpresSpa, Treat and Naples Wax Center The Company recognizes revenue from the sale of products and services when the services are rendered at XpresSpa, Treat, and Naples Wax Centers locations and from the sale of products at the time products are purchased at the Company’s stores or online usually by credit card, net of discounts and applicable sales taxes. Accordingly, the Company recognizes revenue for the Company’s single performance obligation related to both in-store and online sales at the point at which the service has been performed or the control of the merchandise has passed to the customer. Revenues from the e-commerce business are recorded at the time goods are shipped. XpresTest During the third quarter of 2022, XpresTest, in partnership with Ginkgo BioWorks in continuation of their support to the CDC’s traveler-based SARS-CoV-2 genomic surveillance program was awarded a new contract. The partnership is expected to support public health and biosecurity services totaling approximately $16,000, with an overall potential to exceed $61,000 based on CDC program options and public health priorities. As COVID-19 sub-variants and other biological threats continue to emerge, the partners plan to expand the program footprint and incorporate innovative modalities and offerings, such as monitoring of wastewater from aircraft lavatories. The current contract with Ginkgo BioWorks related to the above partnership contains fixed pricing for which the Company is entitled to $6,674 for the sample collection (passenger and aircraft wastewater) and $370 for the traveler enrollment initiatives, which represents the amount of consideration that we are entitled. The Company recognizes revenue over time for both sample collection performance obligations, using the input method based on time elapsed to measure progress towards satisfying each of the performance obligations. We recognized the revenue for the traveler enrollment initiative performance obligation in the second quarter of 2023. The Company recognizes revenue ratably (straight line basis) over the term of the contract (one year). The Company recorded $7,521 and $2,617, in revenue for the years ended December 31, 2023 and 2022, respectively, related to sample collection performance obligations because the Company’s efforts towards satisfying each of the performance obligations are expended evenly throughout the period of performance. HyperPointe The Company’s HyperPointe business provides broad range of service and support options for HyperPointe’s customers, including technical support services and advanced services. Technical support services represent the majority of these offerings which are distinct performance obligations that are satisfied over time with revenue recognized ratably over the contract term. Advanced services are distinct performance obligations that are satisfied over time with revenue recognized as services are delivered. Revenue billed in advance are treated as deferred revenue which was $72 and $322 as of December 31, 2023 and 2022, respectively. The Company excludes all sales taxes assessed to our customers from revenue. Sales taxes assessed on revenues are included in Accrued expenses and other current liabilities
Gift cards, customer rewards and prepaid packages	Gift cards, customer rewards and prepaid packages XWELL offers no-fee, non-expiring gift cards to its customers. No revenue is recognized upon issuance of a gift card and a liability is established for the gift card’s cash value. The liability is relieved, and revenue is recognized upon redemption by the customer. As the gift cards have no expiration date, there is no provision for the reduction in the value of unused card balances. In addition, XWELL maintains a rewards program in which customers earn loyalty points, which can be redeemed for future services. Loyalty points are rewarded upon joining the loyalty program, for customer birthdays, and based upon customer spending. When a customer redeems loyalty points, the Company recognizes revenue for the redeemed cash value and reduces the related loyalty program liability. In 2023 the Company adopted a formal expiration policy whereby any loyalty members with inactivity for an 18-month period will forfeit any unused loyalty rewards. The costs associated with gift cards and reward points are accrued as the rewards are earned by the cardholder and are included in Accrued expenses and other current liabilities Naples Wax Center offers prepaid wax packages that are either unlimited for one year or a set number of services. When the packages are purchased, the sales are recorded as deferred revenue. As services related to prepaid packages are used, revenue is recognized as income. The deferred revenue as of September 12, 2023, when Naples Wax Center was acquired was $811 and for the year ended December 31, 2023 deferred revenue was $778.
Segment reporting	Segment reporting ASC 280, Segment Reporting There are currently no intersegment revenues. Asset information by operating segment is presented below since the chief operating decision maker reviews this information by segment. The reporting segments follow the same accounting policies used in the preparation of the Company’s audited consolidated financial statements.
Pre-opening costs	Pre-opening costs Pre-opening and start-up activity costs, which include rent and occupancy, supplies, advertising, and other direct expenses incurred prior to the opening of a new store, are expensed in the period in which they are incurred.
Cost of sales	Cost of sales Cost of sales consists of location operating costs. These costs include all costs that are directly attributable to the location’s operations and include: ● payroll and related benefits for the location’s operations and management; ● rent, percentage rent and occupancy costs; ● the cost of merchandise and testing supplies; ● freight, shipping and handling costs; ● production costs; ● inventory shortage and valuation adjustments; and ● costs associated with sourcing operations.
Stock-based compensation	Stock-based compensation Stock-based compensation is recognized as an expense in the consolidated statements of operations and comprehensive loss and such cost is measured at the grant-date fair value of the equity-settled award. The fair value of stock options is estimated as of the date of grant using the Black-Scholes-Merton (“Black-Scholes”) option-pricing model. The fair value of Restricted Stock Units (“RSUs”) is calculated as of the date of grant using the grant date closing share price multiplied by the number of RSUs granted. The expense is recognized on a straight-line basis, over the requisite service period. The Company uses the simplified method to estimate the expected term of options due to insufficient history and high turnover in the past. Expected volatility is estimated based on a weighted average historical volatility of the Company. The risk-free rate for the expected term of the option is based on the United States Treasury yield curve as of the date of grant. The Company recognizes forfeitures as they occur. The Company issues new stock to deliver shares under its Equity Plan.
Income taxes	Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not more likely than not to be realized. Tax benefits related to excess deductions on stock-based compensation arrangements are recognized when they reduce taxes payable. In assessing the need for a valuation allowance, the Company looks at cumulative losses in recent years, estimates of future taxable earnings, feasibility of tax planning strategies, the ability to realize tax benefit carryforwards, and other relevant information. Valuation allowances related to deferred tax assets can be impacted by changes to tax laws, changes to statutory tax rates and future taxable earnings. Ultimately, the actual tax benefits to be realized will be based upon future taxable earnings levels, which are very difficult to predict. In the event that actual results differ from these estimates in future periods, the Company will be required to adjust the valuation allowance. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company had no uncertain tax positions as of December 31, 2023 and 2022.
Noncontrolling interests	Noncontrolling interests Noncontrolling interests represent the noncontrolling holders’ percentage share of earnings or losses from; i) the subsidiaries, in which the Company holds a majority, but less than 100%, ownership interest, ii) Variable Interest Entities, where the Company is a primary beneficiary (See sub note Variable Interest Entities
Net income/(loss) per common share	Net income/(loss) per common share Basic net income (loss) per share is computed by dividing the net income (loss) attributable to common shareholders for the period by the weighted-average number of shares of Common Stock outstanding during the period. Diluted net income (loss) per share is computed by dividing the net loss attributable to the Company for the period by the weighted-average number of shares of Common Stock plus dilutive potential Common Stock considered outstanding during the period.
Commitments and contingencies	Commitments and contingencies Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Legal costs expected to be incurred in connection with a loss contingency are expensed as incurred.
Variable Interest Entities	Variable Interest Entities The Company evaluates its ownership, contractual, pecuniary, and other interests in entities to determine if it has any variable interest in a variable interest entity (“VIE”). These evaluations are complex and involve judgment. If the Company determines that an entity in which it holds a contractual or ownership interest is a VIE and that the Company is the primary beneficiary, the Company consolidates such entity in its consolidated financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Management performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. Changes in consolidation status are applied prospectively. As of the year ended December 31, 2023, there were no VIE’s remaining.
Business Combinations	Business Combinations The Company uses the provisions of ASC Topic 805, Business Combinations (“ASC 805”) in the accounting for acquisitions of businesses. ASC 805 requires the Company to use the acquisition method of accounting by recognizing the identifiable tangible and intangible assets acquired and liabilities assumed, and any non-controlling interest in the acquired business, measured at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the aforementioned amounts. While the Company uses its best estimates and assumptions to accurately apply preliminary values to assets acquired and liabilities assumed at the acquisition date, these estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of the assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the consolidated statements of operations. Accounting for business combinations requires management to make significant estimates and assumptions, especially at the acquisition date, including estimates for intangible assets. Although the Company believes the assumptions and estimates that have been made are reasonable and appropriate, they are based in part on historical experience and information obtained from the acquired companies and are inherently uncertain. Estimates in valuing certain of the intangible assets the Company has acquired include future expected cash flows, and discount rates.
Goodwill	Goodwill Goodwill represents the cost of a business acquisition in excess of the fair value of the net assets acquired. Goodwill is not amortized and is reviewed for impairment annually, or more frequently if facts and circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. If it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the company performs a quantitative test to identify and measure the amount of goodwill impairment loss. The Company compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds fair value, goodwill of the reporting unit is considered impaired, and that excess is recognized as a goodwill impairment loss. During the quarter ended September 30, 2023, the Company identified a triggering event, related to the Goodwill associated with XpresTest’s HyperPointe business, and as a result recognized an impairment charge of $4,024 , which is in the Goodwill impairment on the consolidated statements of operations and comprehensive loss.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. Advertising expenses amounted to approximately $696 and $4,645 for the years ended December 31, 2023 and 2022, respectively.
Fair value measurements	Fair value measurements The Company measures fair value in accordance with ASC 820-10, Fair Value Measurements and Disclosures. ASC 820-10 clarifies that fair value is an exit price, representing the amount that would be received by selling an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820-10 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 Level 2 Level 3 The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
Reclassification	Reclassification Certain balances in the 2022 consolidated financial statements have been reclassified to conform to the presentation in the 2023 consolidated financial statements, primarily the separate classification and presentation of general and administrative, salaries and benefits, impairments and loss on disposal of assets. Such reclassifications did not have a material impact on the consolidated financial statements.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements Accounting Standards Update No. 2020-06—Debt--Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) Issued in August 2020, this update is intended to reduce the unnecessary complexity of the current guidance thus resulting in more accurate accounting for convertible instruments and consistent treatment from one entity to the next. Under current GAAP, there are five accounting models for convertible debt instruments. Except for the traditional convertible debt model that recognizes a convertible debt instrument as a single debt instrument, the other four models, with their different measurement guidance, require that a convertible debt instrument be separated (using different separation approaches) into a debt component and an equity or a derivative component. Convertible preferred stock also is required to be assessed under similar models. The Financial Accounting Standard Board (“FASB”) decided to simplify the accounting for convertible instruments by removing certain separation models currently included in other accounting guidance that were being applied to current accounting for convertible instruments. Under the amendments in this update, an embedded conversion feature no longer needs to be separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives. Consequently, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost and a convertible preferred stock will be accounted for as a single equity instrument measured at its historical cost, as long as no other features require bifurcation and recognition as derivatives. The FASB also decided to add additional disclosure requirements in an attempt to improve the usefulness and relevance of the information being provided. The new standard is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company adopted ASU 2020-06 as of the reporting period beginning January 1, 2022. The adoption of this update did not have a material impact on the Company’s consolidated financial statements. ASU 2021-04: Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity Classified Written Call Options In May 2021, the FASB issued ASU 2021-04, “Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity Classified Written Call Options’” (“ASU 2021-04”), which introduces a new way for companies to account for warrants either as stock compensation or derivatives. Under the new guidance, if the modification does not change the instrument’s classification as equity, the company accounts for the modification as an exchange of the original instrument for a new instrument. In general, if the fair value of the “new” instrument is greater than the fair value of the “original” instrument, the excess is recognized based on the substance of the transaction, as if the issuer has paid cash. The effective date of the standard is for interim and annual reporting periods beginning after December 15, 2021 for all entities. The Company adopted ASU 2021-04 as of the reporting period beginning January 1, 2022. The adoption of this update did not have a material impact on the Company’s consolidated financial statements. ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). ASU 2021-08 requires contract assets and contract liabilities acquired in a business acquisition to be recognized and measured in accordance with ASC Topic 606, Revenues from Contracts with Customers, which the Company generally expects will result in the recognition and measurement of contract assets and contract liabilities in a manner that is consistent with the acquiree. For the Company, the amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of this guidance did not have a material impact on our consolidated financial statements and related disclosures.
Recently Issued Accounting Standards	Recently Issued Accounting Standards ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires an enhanced disclosure of significant segment expenses on an annual and interim basis. This guidance will be effective for the annual periods beginning the year ended December 31, 2024, and for interim periods beginning January 1, 2025. Early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating segment expense disclosures related to its annual report for fiscal year 2024. ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This guidance will be effective for the annual periods beginning the year ended December 31, 2025. Early adoption is permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company is currently evaluating income tax disclosures related to its annual report for fiscal year 2025.

Net earnings_(loss) per Share_2

Net earnings/(loss) per Share of Common Stock (Tables)	12 Months Ended
	Dec. 31, 2023
Net earnings/(loss) per Share of Common Stock
Schedule of computation of basic and diluted (losses)/net earnings per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, ​ 2023 2022 Basic numerator: ​ ​ Net loss attributable to common shareholders ​ $ (27,741) ​ $ (32,837) Basic denominator: ​ ​ ​ Basic weighted average shares outstanding ​ 4,175,220 ​ 4,682,767 Basic loss per share ​ $ (6.64) ​ $ (7.01) ​ ​ ​ ​ ​ ​ ​ Net loss per share data presented above excludes from the calculation of diluted net loss, the following potentially dilutive securities, having an anti-dilutive impact, in case of net loss ​ ​ Both vested and unvested options to purchase an equal number of shares of Common Stock ​ 341,205 ​ 241,501 Unvested RSUs to issue an equal number of shares of Common Stock ​ 11,944 ​ 14,063 Warrants to purchase an equal number of shares of Common Stock ​ — ​ 58,605 Total number of potentially dilutive securities excluded from the calculation of earnings/(loss) per share attributable to common shareholders ​ 353,149 ​ 314,169

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2023
Cash, Cash Equivalents, and Restricted Cash
Schedule of cash, cash equivalents, and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Cash denominated in United States dollars ​ $ 5,726 ​ $ 16,344 Cash denominated in currency other than United States dollars ​ 2,395 ​ 2,562 Restricted cash ​ ​ 751 ​ ​ 751 Credit and debit card receivables ​ 316 ​ 132 Total cash, cash equivalents and restricted cash ​ $ 9,188 ​ $ 19,789

Other Current Assets (Tables)

Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Current Assets
Schedule of other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Prepaid expenses ​ $ 894 ​ $ 1,074 Other ​ 55 ​ 48 Total other current assets ​ $ 949 ​ $ 1,122

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property and Equipment
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 Useful Life Leasehold improvements ​ $ 5,848 ​ $ 8,692 Average 5-8 years Furniture and fixtures ​ ​ 821 ​ ​ 1,214 3-4 years Other operating equipment ​ 680 ​ 760 Maximum 5 years ​ ​ 7,349 ​ 10,666 ​ ​ Accumulated depreciation ​ (4,895) ​ (7,000) Total property and equipment, net ​ $ 2,454 ​ $ 3,666

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets
Schedule of other assets	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Equity investments ​ $ 50 ​ $ 104 Lease deposits ​ 1,556 ​ 1,973 Other ​ ​ 236 ​ ​ 292 Other assets ​ $ 1,842 ​ $ 2,369

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Intangible Assets
Schedule of company's intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 ​ ​ Gross ​ ​ ​ ​ Net ​ Gross ​ ​ ​ ​ Net ​ ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying ​ Amount Amortization Amount Amount Amortization Amount Trade names ​ $ 200 ​ $ (6) ​ $ 194 ​ $ 302 ​ $ (24) ​ $ 278 Customer relationships ​ ​ 1,012 ​ ​ (341) ​ ​ 671 ​ ​ 1,510 ​ ​ (542) ​ ​ 968 Software ​ 2,593 ​ (2,120) ​ 473 ​ 4,485 ​ (1,761) ​ 2,724 Licenses ​ ​ 35 ​ ​ (20) ​ ​ 15 ​ ​ 55 ​ ​ (17) ​ ​ 38 Total intangible assets ​ $ 3,840 ​ $ (2,487) ​ $ 1,353 ​ $ 6,352 ​ $ (2,344) ​ $ 4,008
Schedule of estimated amortization expense	​ ​ ​ ​ ​ Calendar Years ending December 31, Amount 2024 ​ $ 316 2025 ​ 310 2026 ​ 229 2027 ​ 122 2028 ​ ​ 122 Thereafter ​ ​ 254 Total ​ $ 1,353 ​

Acquisition of Naples Wax, LLC

Acquisition of Naples Wax, LLC (Tables)	12 Months Ended
	Dec. 31, 2023
Business Acquisition [Line Items]
Schedule of recognized identified assets acquired and liabilities assumed	​ ​ ​ ​ ​ Consideration paid $ 1,624 ​ ​ ​ ​ Fair value of assets acquired and liabilities assumed ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 180 Prepaid expenses and other assets ​ ​ 13 Customer relationships ​ ​ 700 Trade name ​ ​ 200 ​ ​ ​ ​ Deferred revenue ​ ​ (811) Accounts payable ​ ​ (25) Accrued expenses and other liabilities ​ ​ (4) Total fair value of assets acquired and liabilities assumed ​ ​ 253 Goodwill ​ $ 1,371
Naples Wax LLC | Customer relationships
Business Acquisition [Line Items]
Schedule of significant assumptions utilized in valuation of intangible assets	​ ​ ​ ​ ​ Customer relationships Attrition Rate 15.00 % ​ ​ ​ ​ Existing Customer Growth 75.00 % ​ ​ ​ ​ Business Development Expense for New Customers 5.70 % ​ ​ ​ ​ Customer relationships Discount Rate 31.00 % ​ ​ ​ ​ Estimated Remaining Economic Life (Years) (approx.) 7 yrs
Naples Wax LLC | Trade names
Business Acquisition [Line Items]
Schedule of significant assumptions utilized in valuation of intangible assets	​ ​ ​ ​ ​ % of Revenue Attributable to Trade Name 100.00 % ​ ​ ​ ​ Royalty Rate 2.00 % ​ ​ ​ ​ Trade Name Discount Rate 31.00 % ​ ​ ​ ​ Remaining Economic Life (Years) 9 yrs ​

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases
Schedule of supplemental cash flow information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ (3,483) ​ $ (4,092) Leased assets obtained in exchange for new and modified operating lease liabilities ​ $ 174 ​ $ 6,891 Leased assets surrendered in exchange for termination of operating lease liabilities ​ $ — ​ $ —
Schedule of future minimum commitments	​ ​ ​ ​ ​ Calendar Years ending December 31, Amount 2024 ​ $ 3,105 2025 ​ 2,714 2026 ​ 1,628 2027 ​ 1,505 2028 ​ 1,125 Thereafter ​ 3,313 Total future lease payments ​ 13,390 Less: interest expense at incremental borrowing rate ​ (2,296) Net present value of lease liabilities ​ $ 11,094
Schedule of other assumptions and pertinent information	​ ​ ​ ​ ​ ​ Weighted average remaining lease term: ​ ​ 5.94 years Weighted average discount rate used to determine present value of operating lease liability: ​ 7.25 %

Stockholders' Equity and Warr_2

Stockholders' Equity and Warrants (Tables)	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity and Warrants
Schedule of information about all warrant activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average Exercise ​ ​ No. of warrant ​ exercise price ​ price range December 31, 2022 ​ 58,605 ​ $ 40.00 ​ $ 34 - 42.5 Granted — ​ $ — ​ $ ​ Exercised — ​ $ — ​ $ ​ Expired ​ (58,605) ​ $ 40.00 ​ $ 34 - 42.5 December 31, 2023 — ​ $ — ​ ​ — ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Measurements
Schedule of asset and liabilities measured at fair value on recurring and nonrecurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measurement at reporting date using ​ ​ ​ Quoted prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ active markets ​ Significant other ​ Significant ​ ​ ​ ​ ​ for identical ​ observable ​ unobservable ​ ​ Balance ​ assets (Level 1) ​ inputs (Level 2) ​ inputs (Level 3) As of December 31, 2023: ​ ​ ​ ​ Recurring fair value measurements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Route1, Inc. ​ $ 50 ​ $ — ​ $ 50 ​ $ — Total equity securities ​ ​ 50 ​ ​ — ​ ​ 50 ​ ​ — Total recurring fair value measurements ​ $ 50 ​ $ — ​ $ 50 ​ $ — Nonrecurring fair value measurements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment ​ ​ 2,454 ​ ​ — ​ ​ — ​ ​ 2,454 Intangible assets ​ ​ 1,353 ​ ​ — ​ ​ — ​ ​ 1,353 Total nonrecurring fair value measurements ​ $ 3,807 ​ $ — ​ $ — ​ $ 3,807 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ Recurring fair value measurements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Route1, Inc. ​ $ 104 ​ $ — ​ $ 104 ​ $ — Total equity securities ​ ​ 104 ​ ​ — ​ ​ 104 ​ ​ — Total recurring fair value measurements ​ $ 104 ​ $ — ​ $ 104 ​ $ — Nonrecurring fair value measurements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets ​ ​ 4,008 ​ ​ — ​ ​ — ​ ​ 4,008 Total nonrecurring fair value measurements ​ $ 4,008 ​ $ — ​ $ — ​ $ 4,008

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Stock-based Compensation
Schedule of fair value of stock options estimated	​ ​ ​ ​ ​ ​ Share price of the Company’s Common Stock on the grant date: $ 4.60 - 8.20 ​ Exercise price: ​ $ 4.60 - 8.20 ​ Expected volatility: ​ 119.41 - 121.04 % Expected dividend yield: ​ 0 % Annual average risk-free rate: ​ 3.65 - 4.19 % Expected term: ​ 6.32 - 6.41 years ​
Stock options and restricted stock units activity	The following tables summarize information about stock options and RSU activity during the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ Stock options ​ ​ Weighted ​ ​ Weighted ​ ​ ​ ​ ​ ​ average ​ ​ ​ average ​ Exercise ​ ​ No. of ​ grant date ​ No. of ​ exercise ​ price ​ ​ RSUs ​ fair value options ​ price ​ range Outstanding as of December 31, 2022 ​ 14,063 ​ $ 13.00 ​ 241,501 ​ $ 40.00 ​ $ 13.00 - 49,200 Granted ​ 16,944 ​ ​ 5.70 ​ 148,069 ​ ​ 7.88 ​ ​ 4.65 - 8.00 Exercised/Vested ​ (19,063) ​ ​ 10.85 ​ — ​ ​ — ​ ​ ​ Forfeited ​ — ​ ​ — ​ (16,699) ​ ​ 24.08 ​ ​ 8.00 - 32.20 Expired ​ — ​ — ​ (31,666) ​ ​ 38.69 ​ ​ 8.00 - 38,160 Outstanding as of December 31, 2023 ​ 11,944 ​ $ 6.08 ​ 341,205 ​ $ 26.85 ​ $ 4.60 - 49,200 Exercisable as of December 31, 2023 ​ ​ ​ ​ ​ ​ 244,271 ​ $ 26.65 ​ $ 4.60 - 49,200 ​ The following tables summarize information about stock options and RSU activity during the year ended December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSUs ​ Stock options ​ ​ Weighted ​ Weighted ​ ​ ​ ​ ​ ​ average ​ ​ ​ average ​ Exercise ​ ​ No. of ​ grant date ​ No. of ​ exercise ​ price ​ ​ RSUs ​ fair value ​ options ​ price ​ range Outstanding as of December 31, 2021 ​ 30,000 ​ $ 32.60 ​ 141,344 ​ $ 51.40 ​ $ 23.80 - 49,200 Granted ​ 26,563 ​ ​ 16.80 ​ 117,517 ​ ​ 29.20 ​ ​ 13.00 - 32.80 Exercised/Vested ​ (42,500) ​ ​ 29.20 ​ — ​ ​ — ​ ​ ​ Forfeited ​ — ​ ​ — ​ (12,252) ​ ​ 31.00 ​ ​ 28.60 - 76.40 Expired ​ — ​ — ​ (5,108) ​ ​ 121.0 ​ ​ 28.80 - 44,640 Outstanding as of December 31, 2022 ​ 14,063 ​ $ 13.00 ​ 241,501 ​ $ 40.00 ​ $ 13.00 - 49,200 Exercisable as of December 31, 2022 ​ ​ ​ ​ ​ ​ 103,063 ​ $ 51.20 ​ $ 23.80 - 49,200

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Information
Schedule of revenue from external customers and long-lived assets, by geographical areas	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ 2023 2022 Revenue ​ ​ United States ​ $ 24,944 ​ $ 52,250 All other countries ​ 5,165 ​ 3,689 Total revenue ​ $ 30,109 ​ $ 55,939 Long-lived assets ​ ​ United States ​ $ 8,169 ​ $ 15,084 All other countries ​ 2,669 ​ 3,710 Total long-lived assets ​ $ 10,838 ​ $ 18,794
Schedule of segment reporting information, by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ 2023 2022 Revenue ​ ​ XpresSpa ​ $ 19,067 ​ $ 13,680 XpresTest ​ ​ 9,912 ​ ​ 40,867 Naples Wax ​ ​ 686 ​ ​ — Treat ​ ​ 444 ​ ​ 1,392 Corporate and other ​ — ​ — Total revenue ​ $ 30,109 ​ $ 55,939 ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ ​ 2023 2022 Operating loss ​ ​ XpresSpa ​ $ (12,951) ​ $ (12,910) XpresTest ​ ​ (4,701) ​ ​ 1,238 Naples Wax ​ ​ 162 ​ ​ — Treat ​ ​ (2,315) ​ ​ (10,577) Corporate and other ​ (8,401) ​ (8,914) Total operating loss ​ $ (28,206) ​ $ (31,163) ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ ​ 2023 ​ 2022 Depreciation & Amortization ​ ​ ​ ​ ​ ​ XpresSpa ​ $ 1,443 ​ $ 1,479 XpresTest ​ 276 ​ 2,043 Naples Wax ​ ​ 36 ​ ​ — Treat ​ ​ 264 ​ ​ 1,876 Corporate and other ​ 46 ​ 31 Total depreciation & amortization ​ $ 2,065 ​ $ 5,429 ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended ​ ​ December 31, ​ ​ 2023 ​ 2022 Capital Expenditures ​ ​ ​ ​ ​ ​ XpresSpa ​ $ 1,678 ​ $ 2,134 XpresTest ​ 82 ​ 775 Naples Wax ​ ​ — ​ ​ — Treat ​ ​ 60 ​ ​ 3,274 Corporate and other ​ 27 ​ 110 Total capital expenditures ​ $ 1,847 ​ $ 6,293 ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ ​ 2023 ​ 2022 Long-lived Assets ​ ​ ​ ​ ​ ​ XpresSpa ​ $ 8,268 ​ ​ 11,851 XpresTest ​ 92 ​ ​ 4,220 Naples Wax ​ ​ 1,371 ​ ​ — Treat ​ ​ 669 ​ ​ 2,314 Corporate and other ​ 438 ​ ​ 409 Total long-lived Assets ​ $ 10,838 ​ $ 18,794 ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ ​ 2023 2022 Assets ​ ​ XpresSpa ​ $ 18,453 ​ $ 21,135 XpresTest ​ 2,408 ​ 11,198 Naples Wax ​ ​ 2,951 ​ ​ — Treat ​ ​ 848 ​ ​ 3,186 Corporate and other ​ 14,333 ​ 34,907 Total assets ​ $ 38,993 ​ $ 70,426

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Accrued Expenses and Other Current Liabilities
Schedule of accrued expenses and other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 Litigation accrual ​ $ 449 ​ ​ $ 963 Accrued compensation ​ 2,098 ​ ​ 2,008 Tax-related liabilities ​ 501 ​ ​ 573 Common area maintenance accruals ​ ​ 8 ​ ​ ​ 160 AP Accruals ​ ​ 913 ​ ​ ​ 754 Gift certificates ​ 509 ​ ​ 496 Credit card processing fees ​ ​ 8 ​ ​ ​ 33 Other miscellaneous accruals ​ 482 ​ ​ 732 Total accrued expenses and other current liabilities ​ $ 4,968 ​ ​ $ 5,719 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes.
Schedule of loss before income taxes, domestic and foreign	​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Domestic ​ $ (27,573) ​ $ (32,445) Foreign ​ (421) ​ (129) ​ ​ $ (27,994) ​ $ (32,574)
Schedule of components of income tax expense (benefit)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, ​ 2023 2022 Current: ​ ​ Federal ​ $ — ​ $ — State ​ 15 ​ 41 Foreign ​ 20 ​ 14 Deferred: ​ ​ Federal ​ — ​ — ​ ​ $ 35 ​ $ 55
Schedule of effective income tax rate reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, ​ 2023 2022 Loss from operations before income taxes ​ $ (27,994) ​ $ (32,574) ​ Tax rate ​ 21 % 21 % ​ ​ ​ ​ ​ ​ ​ ​ Computed “expected” tax benefit ​ (5,879) ​ (6,841) ​ State taxes, net of federal income tax (expense) benefit ​ (1,027) ​ 706 ​ Change in valuation allowance ​ 9,166 ​ 7,015 ​ Adjustment JV Basis ​ ​ — ​ ​ 339 ​ Nondeductible expenses ​ 212 ​ 341 ​ Other Adjustments ​ ​ 2 ​ ​ — ​ Return to Provision Adjustment ​ ​ (1,860) ​ ​ (94) ​ International Rate Differential ​ ​ (14) ​ ​ — ​ State Deferred Rate Change ​ ​ (87) ​ ​ (570) ​ Asset Impairment Adjustment ​ ​ (730) ​ ​ (810) ​ Other items ​ 252 ​ (31) ​ Income tax expense ​ $ 35 ​ $ 55 ​
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 Deferred income tax assets ​ ​ Net operating loss carryforwards ​ $ 60,263 ​ $ 51,932 Stock-based compensation ​ 1,532 ​ 1,029 Intangible assets and other ​ 7,629 ​ 7,298 Net deferred income tax assets ​ 69,424 ​ 60,259 Less: ​ ​ Valuation allowance ​ (69,424) ​ (60,259) Net deferred income tax assets ​ $ — ​ $ —
Summary of valuation allowance	​ ​ ​ ​ ​ As of January 1, 2022 $ 53,298 Charged to cost and expenses ​ 6,864 Return to provision true-up and other ​ 97 As of December 31, 2022 ​ 60,259 Charged to cost and expenses ​ 7,299 Return to provision true-up and other ​ 1,866 As of December 31, 2023 ​ $ 69,424

Restatement of Previously Iss_2

Restatement of Previously Issued Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2023
Restatement of Previously Issued Financial Statements
Schedule of reconciliation of the impacted financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restatement ​ ​ ​ ​ As Filed Adjustments As restated ​ ​ September 30, ​ September 30, ​ September 30, ​ ​ 2023 ​ 2023 ​ 2023 ​ ​ (unaudited) ​ (unaudited) ​ (unaudited) Current assets ​ ​ ​ Cash and cash equivalents ​ $ 4,827 ​ $ — ​ $ 4,827 Marketable Securities ​ 21,311 ​ — ​ 21,311 Accounts receivable ​ 1,193 ​ — ​ 1,193 Inventory ​ 968 ​ — ​ 968 Other current assets ​ 1,663 ​ — ​ 1,663 Total current assets ​ 29,962 ​ — ​ 29,962 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted cash ​ 751 ​ — ​ 751 Property and equipment, net ​ 3,801 ​ (1,096) ​ 2,705 Intangible assets, net ​ 2,174 ​ — ​ 2,174 Operating lease right of use assets, net ​ 6,075 ​ (517) ​ 5,558 Other assets ​ 1,787 ​ — ​ 1,787 Total assets ​ $ 44,550 ​ $ (1,613) ​ $ 42,937 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ ​ ​ Accounts payable ​ $ 1,511 ​ $ — ​ $ 1,511 Accrued expenses and other current liabilities ​ 4,198 ​ — ​ 4,198 Current portion of operating lease liabilities ​ 2,375 ​ — ​ 2,375 Deferred revenue ​ 73 ​ — ​ 73 Total current liabilities ​ 8,157 ​ — ​ 8,157 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term liabilities ​ ​ ​ Operating lease liabilities ​ 9,123 ​ — ​ 9,123 Total liabilities ​ 17,280 ​ — ​ 17,280 Commitments and contingencies (see Note 13) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity ​ ​ ​ Common Stock, $0.01 par value per share, 150,000,000 shares authorized; 4,174,381 and 4,161,613 shares issued outstanding ​ 42 ​ — ​ 42 Additional paid-in capital ​ 470,270 ​ — ​ 470,270 Accumulated deficit ​ (449,269) ​ (1,613) ​ (450,882) Accumulated other comprehensive loss ​ (1,642) ​ — ​ (1,642) Total equity attributable to XWELL, Inc. ​ 19,401 ​ (1,613) ​ 17,788 Noncontrolling interests ​ 7,869 ​ — ​ 7,869 Total equity ​ 27,270 ​ (1,613) ​ 25,657 Total liabilities and equity ​ $ 44,550 ​ $ (1,613) ​ $ 42,937 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restatement ​ ​ ​ ​ ​ Restatement ​ ​ ​ As Filed Adjustments As Restated ​ As Filed ​ Adjustments ​ As Restated ​ ​ Three months ​ Three months ​ Three months ​ Nine months ​ Nine months ​ Nine months ​ ​ ended ​ ended ​ ended ​ ended ​ ended ​ ended ​ ​ September 30, ​ September 30, ​ September 30, ​ September 30 ​ September 30 ​ September 30 ​ ​ 2023 ​ 2023 ​ 2023 ​ 2023 ​ 2023 ​ 2023 ​ ​ (unaudited) ​ (unaudited) ​ (unaudited) ​ (unaudited) ​ (unaudited) ​ (unaudited) Revenue, net ​ ​ ​ ​ ​ ​ Patient services revenue ​ $ — ​ $ — ​ $ — ​ $ 148 ​ $ — ​ $ 148 Services ​ 6,709 ​ — ​ 6,709 ​ 20,485 ​ — ​ 20,485 Products ​ 747 ​ — ​ 747 ​ 2,044 ​ — ​ 2,044 Other ​ 12 ​ — ​ 12 ​ 29 ​ — ​ 29 Total revenue, net ​ 7,468 ​ — ​ 7,468 ​ 22,706 ​ — ​ 22,706 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of sales ​ ​ ​ ​ ​ ​ Labor ​ 4,462 ​ — ​ 4,462 ​ 13,609 ​ — ​ 13,609 Occupancy ​ 1,063 ​ — ​ 1,063 ​ 3,237 ​ — ​ 3,237 Products and other operating costs ​ 852 ​ — ​ 852 ​ 3,057 ​ — ​ 3,057 Total cost of sales ​ 6,377 ​ — ​ 6,377 ​ 19,903 ​ — ​ 19,903 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Profit ​ 1,091 ​ — ​ 1,091 ​ 2,803 ​ — ​ 2,803 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ 590 ​ — ​ 590 ​ 1,770 ​ — ​ 1,770 Impairment of long-lived assets ​ 6,782 ​ 1,096 ​ 7,878 ​ 6,782 ​ 1,096 ​ 7,878 Impairment of operating lease right-of-use assets ​ — ​ 517 ​ 517 ​ — ​ 517 ​ 517 Loss on disposal of assets ​ 16 ​ — ​ 16 ​ 34 ​ — ​ 34 Advertising and promotion expense ​ 313 ​ — ​ 313 ​ 628 ​ — ​ 628 IT/Hosting services ​ 273 ​ — ​ 273 ​ 1,186 ​ — ​ 1,186 Other general and administrative expenses ​ 3,593 ​ — ​ 3,593 ​ 13,891 ​ — ​ 13,891 Total operating expenses ​ 11,567 ​ 1,613 ​ 13,180 ​ 24,291 ​ 1,613 ​ 25,904 Operating loss ​ (10,476) ​ (1,613) ​ (12,089) ​ (21,488) ​ (1,613) ​ (23,101) Interest income, net ​ 105 ​ — ​ 105 ​ 334 ​ — ​ 334 Foreign exchange remeasurement gain/(loss) ​ 366 ​ — ​ 366 ​ (690) ​ — ​ (690) Gain on Securities, realized and unrealized ​ 225 ​ — ​ 225 ​ 703 ​ — ​ 703 Other non-operating expense, net ​ (198) ​ — ​ (198) ​ (345) ​ — ​ (345) Loss before income taxes ​ (9,978) ​ (1,613) ​ (11,591) ​ (21,486) ​ (1,613) ​ (23,099) Income tax expense ​ — ​ — ​ — ​ — ​ — ​ — Net loss ​ (9,978) ​ (1,613) ​ (11,591) ​ (21,486) ​ (1,613) ​ (23,099) Net (income) loss attributable to noncontrolling interests ​ 60 ​ — ​ 60 ​ 329 ​ — ​ 329 Net loss attributable to XWELL, Inc. ​ $ (9,918) ​ $ (1,613) ​ $ (11,531) ​ $ (21,157) ​ $ (1,613) ​ $ (22,770) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (9,978) ​ $ (1,613) ​ $ (11,591) ​ $ (21,486) ​ $ (1,613) ​ $ (23,099) Other comprehensive loss ​ (514) ​ — ​ (514) ​ (1,108) ​ — ​ (1,108) Comprehensive loss from continuing operations ​ (10,492) ​ (1,613) ​ (12,105) ​ (22,594) ​ (1,613) ​ (24,207) Comprehensive loss ​ $ (10,492) ​ $ (1,613) ​ $ (12,105) ​ $ (22,594) ​ $ (1,613) ​ $ (24,207) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss per share ​ ​ ​ ​ ​ ​ Basic and diluted loss per share* ​ $ (2.38) ​ $ (0.39) ​ $ (2.76) ​ $ (5.07) ​ $ (0.39) ​ $ (5.46) Weighted-average number of shares outstanding during the period ​ ​ ​ ​ ​ ​ Basic and diluted* ​ 4,173,894 ​ 4,173,894 ​ 4,173,894 ​ 4,170,629 ​ 4,170,629 ​ 4,170,629 Diluted ​ 4,173,894 ​ 4,173,894 ​ 4,173,894 ​ 4,170,629 ​ 4,170,629 ​ 4,170,629 ​ * Adjusted to reflect the impact of the 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ other ​ Total ​ Non- ​ ​ ​ ​ Common stock ​ Treasury Stock ​ paid- ​ Accumulated ​ comprehensive ​ Company ​ controlling ​ Total ​ ​ Shares* ​ Amount ​ Shares* ​ Amount ​ in capital ​ deficit ​ loss ​ equity ​ interests ​ equity December 31, 2022 4,161,613 $ 42 — ​ — $ 468,530 $ (428,112) $ (534) $ 39,926 $ 8,023 $ 47,949 Issuance of restricted stock units 6,015 ​ — — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Value of shares withheld to fund payroll taxes — ​ — — ​ — ​ (22) ​ — ​ — ​ (22) ​ — ​ (22) Stock-based compensation — ​ — — ​ — ​ 589 ​ — ​ — ​ 589 ​ 23 ​ 612 Net loss for the period — ​ — — ​ — ​ — ​ (5,509) ​ — ​ (5,509) ​ (320) ​ (5,829) Foreign currency translation — ​ — — ​ — ​ — ​ — ​ (130) ​ (130) ​ 11 ​ (119) March 31, 2023 4,167,628 ​ $ 42 — ​ $ — ​ $ 469,097 ​ $ (433,621) ​ $ (664) ​ $ 34,854 ​ $ 7,737 ​ $ 42,591 Issuance of restricted stock units 3,297 ​ — — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Stock-based compensation — ​ — — ​ — ​ 603 ​ — ​ — ​ 603 ​ 23 ​ 626 Distributions to noncontrolling interests — ​ — — ​ — ​ — ​ — ​ — ​ — ​ (120) ​ (120) Foreign currency translation — ​ — — ​ — ​ — ​ — ​ (464) ​ (464) ​ 46 ​ (418) Net loss for the period — ​ — — ​ — ​ — ​ (5,730) ​ — ​ (5,730) ​ 51 ​ (5,679) June 30, 2023 4,170,925 ​ $ 42 — ​ $ — ​ $ 469,700 ​ $ (439,351) ​ $ (1,128) ​ $ 29,263 ​ $ 7,737 ​ $ 37,000 Issuance of restricted stock units 3,456 ​ — — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Stock-based compensation — ​ — — ​ — ​ 567 ​ — ​ — ​ 567 ​ 24 ​ 591 Grant of stock for services — ​ — — ​ — ​ 3 ​ — ​ — ​ 3 ​ — ​ 3 Contributions from noncontrolling interests — ​ — — ​ — ​ — ​ — ​ — ​ — ​ 150 ​ 150 Foreign currency translation — ​ — — ​ — ​ — ​ — ​ (514) ​ (514) ​ 18 ​ (496) Net loss for the period — ​ — — ​ — ​ — ​ (9,918) ​ — ​ (9,918) ​ (60) ​ (9,978) September 30, 2023 as filed ​ 4,174,381 ​ $ 42 — ​ $ — ​ $ 470,270 ​ $ (449,269) ​ $ (1,642) ​ $ 19,401 ​ $ 7,869 ​ $ 27,270 Restatement ​ — ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ (1,613) ​ ​ — ​ ​ (1,613) ​ ​ — ​ ​ (1,613) September 30, 2023 as restated 4,174,381 ​ $ 42 — ​ $ — ​ $ 470,270 ​ $ (450,882) ​ $ (1,642) ​ $ 17,788 ​ $ 7,869 ​ $ 25,657 ​ * Adjusted to reflect the impact of the 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restatement ​ ​ ​ ​ As Filed ​ Adjustments ​ As Restated ​ ​ September 30 ​ September 30 ​ September 30 ​ ​ 2023 ​ 2023 ​ 2023 ​ ​ (unaudited) ​ (unaudited) ​ (unaudited) Cash flows from operating activities ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (21,486) ​ $ (1,613) ​ $ (23,099) Adjustments to reconcile net loss to net cash used in operating activities: ​ ​ ​ Depreciation and amortization ​ 1,770 ​ — ​ 1,770 Impairment of long lived assets ​ 6,782 ​ 1,613 ​ 8,395 Foreign currency remeasurement loss ​ 690 ​ — ​ 690 Loss on disposal of assets ​ 34 ​ — ​ 34 Gain on lease termination ​ (821) ​ — ​ (821) Unrealized gain on marketable securities ​ (668) ​ — ​ (668) Amortization of operating lease right of use asset ​ 1,163 ​ — ​ 1,163 Stock-based compensation ​ 1,832 ​ — ​ 1,832 Loss on equity investment ​ 53 ​ — ​ 53 Changes in assets and liabilities: ​ ​ ​ Decrease in inventory ​ 192 ​ — ​ 192 Decrease (increase) in accounts receivable ​ 1,665 ​ — ​ 1,665 Increase in other assets, current and non-current ​ (336) ​ — ​ (336) Increase in deferred revenue ​ (266) ​ — ​ (266) Increase in other liabilities, current and non-current ​ (3,226) ​ — ​ (3,226) Decrease in accounts payable ​ (251) ​ — ​ (251) Net cash used in operating activities ​ (12,873) ​ — ​ (12,873) Cash flows from investing activities ​ ​ ​ Acquisition of property and equipment ​ (1,639) ​ — ​ (1,639) Investment in marketable securities ​ (1,991) ​ — ​ (1,991) Sale of marketable securities ​ 4,500 ​ — ​ 4,500 Acquisition of Naples Wax ​ (1,574) ​ — ​ (1,574) Acquisition of intangibles ​ (468) ​ — ​ (468) Net cash used in investing activities ​ (1,172) ​ — ​ (1,172) Cash flows from financing activities ​ ​ ​ Contributions from noncontrolling interests ​ 150 ​ — ​ 150 Payments for shares withheld on vesting ​ (22) ​ — ​ (22) Distributions to noncontrolling interests ​ (120) ​ — ​ (120) Net cash provided by (used in) financing activities ​ 8 ​ — ​ 8 Effect of exchange rate changes on cash, cash equivalents and restricted cash ​ (174) ​ — ​ (174) Decrease in cash, cash equivalents and restricted cash ​ (14,211) ​ — ​ (14,211) Cash, cash equivalents, and restricted cash at beginning of the period ​ 19,789 ​ — ​ 19,789 Cash, cash equivalents, and restricted cash at end of the period ​ $ 5,578 ​ $ — ​ $ 5,578 Cash paid for ​ ​ ​ Income taxes ​ $ 142 ​ $ — ​ $ 142 Non-cash investing and financing transactions ​ ​ ​ Capital expenditures included in Accounts payable, accrued expenses and other current liabilities ​ $ 197 ​ $ — ​ $ 197 ​

General (Details)

General (Details) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2023 USD ($) $ / shares	Dec. 31, 2023 USD ($) segment location item $ / shares	Dec. 31, 2022 USD ($) $ / shares	Sep. 12, 2023 Center	Oct. 24, 2022 $ / shares shares
Common stock, par value | $ / shares	$ 0.01	$ 0.01	$ 0.01	$ 0.01		$ 0.01
Number of operating segments | segment			4
Cash and cash equivalents | $	$ 4,827	$ 4,827	$ 8,437	$ 19,038
Marketable Securities | $	21,311	21,311	14,613	23,153
Total current assets | $	29,962	29,962	26,566	47,332
Total current liabilities | $	8,157	8,157	9,330	10,956
Working capital | $			17,236	36,376
Net loss | $	$ (11,591)	$ (23,099)	$ (28,029)	$ (32,629)
XpresSpa | United States
Number of operating locations | location			21
Number of operating locations, company owned | location			19
Number of operating locations, franchises | location			2
XpresSpa | Non-US
Number of airport locations | location			11
Naples Wax LLC
Number of High- Performing Locations			3		3
Dubai International Airport | Non-US
Number of operating locations | location			2
Zayad International Airport | Non-US
Number of operating locations | location			1
Schiphol Amsterdam Airport | Non-US
Number of operating locations | location			3
Istanbul Airport | Non-US
Number of operating locations | location			5
Series A Convertible Preferred stock
Preferred stock, par value | $ / shares						$ 0.01
Preferred stock, authorized | shares						6,968
Preferred stock, outstanding | shares						0
Series D Convertible Preferred Stock
Preferred stock, par value | $ / shares						$ 0.01
Preferred stock, authorized | shares						500,000
Preferred stock, outstanding | shares						0
Series E Convertible Preferred Stock.
Preferred stock, par value | $ / shares						$ 0.01
Preferred stock, authorized | shares						2,397,060
Preferred stock, outstanding | shares						0
Series F Convertible Preferred Stock.
Preferred stock, par value | $ / shares						$ 0.01
Preferred stock, authorized | shares						9,000
Preferred stock, outstanding | shares						0

Accounting and Reporting Poli_3

Accounting and Reporting Policies (Details) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) segment location entity	Dec. 31, 2022 USD ($)	Sep. 12, 2023 USD ($)	Sep. 30, 2022 USD ($)
Foreign currency remeasurement gain/(loss)	$ 366	$ (690)	$ (738)	$ (664)
Cash equivalents			4,025	1,885
Impairment of intangible assets			2,768	110
Impairment on property and equipment			1,159	4,559
Impairment of operating lease right-of-use assets	517	517	926	1,110
Total revenue	7,468	22,706	30,109	55,939
Deferred revenue	73	$ 73	$ 861	339
Number of reportable segments | segment			4
Uncertain tax positions			$ 0	0
Advertising expenses			696	4,645
Impairment loss on goodwill			4,024
Allowance for credit loss			$ 0	0
Variable interest entities. | entity			0
Prepaid Packages Services | Naples Wax LLC
Contract with customer, liability, current			$ 778		$ 811
XpresTest
Impairment of operating lease right-of-use assets				38
XpresTest | CDC Program Options and Public Health Services
Total revenue			7,521	2,617
Unrecognized revenue						$ 16,000
XpresTest | Traveler Enrollment Initiatives | CDC Program Options and Public Health Services
Contract with customer, liability, current						370
XpresTest | Passenger and Aircraft Wastewater Sample Collection | CDC Program Options and Public Health Services
Contract with customer, liability, current						6,674
XpresSpa
Impairment of operating lease right-of-use assets			484	936
HyperPointe
Impairment loss on goodwill	$ 4,024
HyperPointe | HyperPointe
Deferred revenue			$ 72	$ 322
Non-US | XpresSpa
Number of airport locations | location			11
Minimum | XpresTest | CDC Program Options and Public Health Services
Unrecognized revenue						$ 61,000

Net earnings_(loss) per Share_3

Net earnings/(loss) per Share of Common Stock (Details) $ / shares in Units, $ in Thousands		3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 28, 2023 item	Sep. 30, 2023 $ / shares shares	Sep. 30, 2023 $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares		Dec. 31, 2022 USD ($) $ / shares shares
Earnings Per Share Disclosure.
Net loss attributable to common shareholders | $				$ (27,741)		$ (32,837)
Basic weighted average shares outstanding		4,173,894	4,170,629	4,175,220	[1]	4,682,767	[1]
Basic loss per share (in dollars per share) | $ / shares		$ (2.76)	$ (5.46)	$ (6.64)		$ (7.01)
Total number of potentially dilutive securities excluded from the calculation of earnings/(loss) per share attributable to common shareholders				353,149		314,169
Reverse stock split, conversion ratio	0.05
Reverse stock split, Multiplying factor for price per share | item	20
Both vested and unvested options to purchase an equal number of shares of Common Stock
Earnings Per Share Disclosure.
Total number of potentially dilutive securities excluded from the calculation of earnings/(loss) per share attributable to common shareholders				341,205		241,501
Unvested RSUs to issue an equal number of shares of Common Stock
Earnings Per Share Disclosure.
Total number of potentially dilutive securities excluded from the calculation of earnings/(loss) per share attributable to common shareholders				11,944		14,063
Warrants to purchase an equal number of shares of Common Stock
Earnings Per Share Disclosure.
Total number of potentially dilutive securities excluded from the calculation of earnings/(loss) per share attributable to common shareholders				0		58,605
[1] Adjusted to reflect the impact of the 1 :20 reverse stock split that became effective on September 28, 2023.

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash - Summary of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash, Cash Equivalents, and Restricted Cash
Cash denominated in United States dollars	$ 5,726		$ 16,344
Cash denominated in currency other than United States dollars	2,395		2,562
Restricted cash	751		751
Credit and debit card receivables	316		132
Total cash, cash equivalents and restricted cash	$ 9,188	$ 5,578	$ 19,789	$ 106,257

Cash, Cash Equivalents, and R_4

Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash, Cash Equivalents, and Restricted Cash
Deposits in excess of FDIC limits	$ 4,195	$ 16,069
Amount of cash in overseas accounts	$ 2,395	$ 2,562

Other Current Assets - Schedule

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Other Current Assets
Prepaid expenses	$ 894		$ 1,074
Other	55		48
Total other current assets	$ 949	$ 1,663	$ 1,122

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Property and equipment, Gross		$ 7,349	$ 10,666
Accumulated depreciation		(4,895)	(7,000)
Total property and equipment, net	$ 2,705	2,454	3,666
Impairment on property and equipment		1,159	4,559
Reduction of remaining right of use asset and lease liability	$ 821	821
Depreciation expense		825	3,663
Leasehold improvements
Property and equipment, Gross		$ 5,848	$ 8,692
Leasehold improvements | Minimum [Member]
Property and equipment, useful life		5 years	5 years
Leasehold improvements | Maximum [Member]
Property and equipment, useful life		8 years	8 years
Furniture and fixtures
Property and equipment, Gross		$ 821	$ 1,214
Furniture and fixtures | Minimum [Member]
Property and equipment, useful life		3 years	3 years
Furniture and fixtures | Maximum [Member]
Property and equipment, useful life		4 years	4 years
Other operating equipment
Property and equipment, Gross		$ 680	$ 760
Other operating equipment | Maximum [Member]
Property and equipment, useful life		5 years	5 years

Other Assets - Consolidated Bal

Other Assets - Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Other Assets
Equity investments	$ 50		$ 104
Lease deposits	1,556		1,973
Other	236		292
Other assets	$ 1,842	$ 1,787	$ 2,369

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Security deposits	$ 1,556	$ 1,973
Other nonoperating income expense
Unrealized loss on remeasurement of common stock and/or warrants	54	618
Route1 Inc
Fair value of the investment	$ 50	$ 104

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,840	$ 6,352
Accumulated Amortization	(2,487)	(2,344)
Net Carrying Amount	1,353	4,008
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	200	302
Accumulated Amortization	(6)	(24)
Net Carrying Amount	194	278
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,012	1,510
Accumulated Amortization	(341)	(542)
Net Carrying Amount	671	968
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,593	4,485
Accumulated Amortization	(2,120)	(1,761)
Net Carrying Amount	473	2,724
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	35	55
Accumulated Amortization	(20)	(17)
Net Carrying Amount	$ 15	$ 38

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 2,768	$ 110
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Impairment of Long-Lived Assets Held-for-use	Impairment of Long-Lived Assets Held-for-use
Amortization expense	$ 1,240	$ 1,766
Minimum | HyperPointe
Finite-Lived Intangible Assets [Line Items]
Expected useful lives (in years)	5 years
Maximum | HyperPointe
Finite-Lived Intangible Assets [Line Items]
Expected useful lives (in years)	12 years
Trade names
Finite-Lived Intangible Assets [Line Items]
Expected useful lives (in years)	6 years
Software
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets		$ 110
Software | Minimum
Finite-Lived Intangible Assets [Line Items]
Expected useful lives (in years)	3 years
Software | Maximum
Finite-Lived Intangible Assets [Line Items]
Expected useful lives (in years)	5 years
Trade names, customer relationships and software
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 2,768

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Finite-Lived Intangible Assets, Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2024	$ 316
2025	310
2026	229
2027	122
2028	122
Thereafter	254
Total	$ 1,353	$ 4,008

Acquisition of Naples Wax, LL_2

Acquisition of Naples Wax, LLC (Details) - USD ($) $ in Thousands	Sep. 12, 2023	Dec. 31, 2023	Dec. 31, 2022
Acquisition of Naples Wax, LLC
Goodwill		$ 1,371	$ 4,024
Fair value of assets acquired and liabilities assumed
Goodwill		$ 1,371	$ 4,024
Naples Wax LLC
Acquisition of Naples Wax, LLC
Aggregate purchase price paid in cash	$ 1,574
Consideration paid	1,624
Consideration held back to cover potential indemnification claims	$ 50
Consideration held back term	6 months
Percentage of units acquired		100%
Goodwill	$ 1,371	$ 1,371
Fair value of assets acquired and liabilities assumed
Cash and cash equivalents	180
Prepaid expenses and other assets	13
Deferred revenue	(811)
Accounts payable	(25)
Accrued expenses and other liabilities	(4)
Total fair value of assets acquired and liabilities assumed	253
Goodwill	1,371	$ 1,371
Naples Wax LLC | Customer relationships
Fair value of assets acquired and liabilities assumed
Other intangible assets, net	700
Naples Wax LLC | Trade names
Fair value of assets acquired and liabilities assumed
Other intangible assets, net	$ 200

Acquisition of Naples Wax, LL_3

Acquisition of Naples Wax, LLC - Fair value assumptions of intangible assets (Details) - Income approach - Naples Wax LLC	Dec. 31, 2023 Y
Customer relationships | Attrition rate
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	15
Customer relationships | Existing customer growth
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	75
Customer relationships | Business development expense for new customers
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	5.70
Customer relationships | Discount rate
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	31
Customer relationships | Estimated remaining economic life (Years)
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	7
Trade names | Discount rate
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	31
Trade names | Estimated remaining economic life (Years)
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	9
Trade names | Percent of revenue attributable to intangible assets
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	100
Trade names | Royalty rate
Acquisition of Naples Wax, LLC
Acquired finite lived intangible asset, measurement input	2

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Leases
Cash paid for minimum annual rental			$ 2,018	$ 928
Variable lease payments			1,326	1,392
Operating leases, rent expense			3,824	3,917
Impairment of operating lease right-of-use assets	$ 517	$ 517	$ 926	$ 1,110

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating cash flows from operating leases	$ (3,483)	$ (4,092)
Leased assets obtained in exchange for new and modified operating lease liabilities	$ 174	$ 6,891

Leases - Future Minimum Commitm

Leases - Future Minimum Commitments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases
2024	$ 3,105
2025	2,714
2026	1,628
2027	1,505
2028	1,125
Thereafter	3,313
Total future lease payments	13,390
Less: interest expense at incremental borrowing rate	(2,296)
Net present value of lease liabilities	$ 11,094

Leases - Other Assumptions and

Leases - Other Assumptions and Pertinent Information (Details)	Dec. 31, 2023
Leases
Weighted average remaining lease term (years):	5 years 11 months 8 days
Weighted average discount rate used to determine present value of operating lease liability:	7.25%

Long-term Notes and Convertib_2

Long-term Notes and Convertible Notes - Paycheck Protection Program (Details) - Paycheck Protection Program - USD ($) $ in Thousands	May 01, 2020	Dec. 31, 2021
Debt Instrument [Line Items]
Debt instrument, face amount	$ 5,653
Interest rate (as a percent)	1%
Payments on PPP Loan	$ 0
Deferral period	6 months
Debt outstanding		$ 3,584

Stockholders' Equity and Warr_3

Stockholders' Equity and Warrants (Details) $ / shares in Units, $ in Thousands			1 Months Ended		12 Months Ended
	Sep. 28, 2023 item	Aug. 16, 2022 USD ($)	May 31, 2022 shares	Aug. 31, 2021 shares	Dec. 31, 2023 $ / shares shares
Warrants [Line Items]
Threshold value of shares repurchases | $		$ 1,000
Reverse stock split, conversion ratio	0.05
Reverse stock split, Multiplying factor for price per share | item	20
Share Repurchase Program
Warrants [Line Items]
Repurchase of common stock (in shares) | shares			10	15
Warrants
Warrants [Line Items]
Outstanding, Opening Balance | shares					58,605
Expired | shares					(58,605)
Weighted average exercise price, Beginning Balance					$ 40
Weighted average exercise price, Expired					40
Warrants | Minimum
Warrants [Line Items]
Exercise price range, Beginning Balance					34
Exercise price range, Expired					34
Warrants | Maximum
Warrants [Line Items]
Exercise price range, Beginning Balance					42.5
Exercise price range, Expired					$ 42.5

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Recurring
Equity securities	$ 50	$ 104
Total fair value measurements	50	104
Fair Value, Recurring | Fair Value, Inputs, Level 2
Equity securities	50	104
Total fair value measurements	50	104
Fair Value, Nonrecurring
Property, plant and equipment	2,454
Intangible assets	1,353	4,008
Total fair value measurements	3,807	4,008
Fair Value, Nonrecurring | Fair Value, Inputs, Level 3 [Member]
Property, plant and equipment	2,454
Intangible assets	1,353	4,008
Total fair value measurements	3,807	4,008
Route1 Inc
Equity securities	50	104
Route1 Inc | Fair Value, Recurring
Equity securities	50	104
Route1 Inc | Fair Value, Recurring | Fair Value, Inputs, Level 2
Equity securities	$ 50	$ 104

Stock-based Compensation (Detai

Stock-based Compensation (Details) $ in Thousands		1 Months Ended			12 Months Ended
	Oct. 04, 2022 shares	May 31, 2022 shares	Aug. 31, 2021 shares	Sep. 30, 2020 item shares	Dec. 31, 2023 USD ($) item shares	Dec. 31, 2022 USD ($)
Stockholders Equity [Line Items]
Number of equal quarterly vesting installments | item				4	4
Stock-based compensation expense | $					$ 2,319	$ 3,770
Weighted average remaining contractual term					7 years 8 months 15 days	7 years 9 months 29 days
Aggregate Intrinsic Value of Options Outstanding and Vested | $					$ 0	$ 0
Share Repurchase Program
Stockholders Equity [Line Items]
Repurchase of common stock (in shares)		10	15
Stock Compensation Plan
Stockholders Equity [Line Items]
Options, expiry period				10 years	10 years
Options, vesting period				1 year	1 year
Non-vested Stock Options
Stockholders Equity [Line Items]
Unrecognized stock-based payment cost | $					$ 1,246	2,506
Non-Vested RSUs
Stockholders Equity [Line Items]
Unrecognized stock-based payment cost | $					73	$ 183
XpresTest 2020 Plan | RSUs
Stockholders Equity [Line Items]
Unrecognized stock-based compensation related to the awards | $					$ 96
Equity incentive plan 2020
Stockholders Equity [Line Items]
Number of shares authorized					625,000
Number of additional shares authorized	375,000
Maximum | Equity incentive plan 2020
Stockholders Equity [Line Items]
Number of shares authorized				250,000
Number of stock shares issued					249,899
Directors, Employees And Consultants | XpresTest 2020 Plan
Stockholders Equity [Line Items]
Number of shares authorized				200
Percentage of shares authorized for issuance				20%
Directors, Employees And Consultants | Maximum | XpresTest 2020 Plan
Stockholders Equity [Line Items]
Number of shares authorized				200

Stock-based Compensation - Vari

Stock-based Compensation - Variables Used in Estimating Fair Value of Stock Options (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares
Stockholders Equity [Line Items]
Expected volatility Minimum:	119.41%
Expected volatility Maximum:	121.04%
Expected dividend yield:	0%
Annual average risk-free rate Minimum:	3.65%
Annual average risk-free rate Maximum:	4.19%
Minimum
Stockholders Equity [Line Items]
Share price of the Company's Common Stock on the grant date:	$ 4.60
Exercise price:	$ 4.60
Expected term:	6 years 3 months 25 days
Maximum
Stockholders Equity [Line Items]
Share price of the Company's Common Stock on the grant date:	$ 8.20
Exercise price:	$ 8.20
Expected term:	6 years 4 months 28 days

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Options and RSU Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stockholders Equity [Line Items]
No. of options, Outstanding, Beginning balance	241,501	141,344
No. of options, Granted	148,069	117,517
No. of options, Exercised/Vested	0
No. of options, Forfeited	(16,699)	(12,252)
No. of options, Expired	(31,666)	(5,108)
No. of options, Outstanding, Ending balance	341,205	241,501
No. of options, Exercisable	244,271	103,063
Weighted average grant date fair value, Beginning balance	$ 40	$ 51.40
Weighted average grant date fair value, Granted	7.88	29.20
Weighted average grant date fair value, Exercised/Vested	0
Weighted average grant date fair value, Forfeited	24.08	31
Weighted average grant date fair value, Expired	38.69	121
Weighted average grant date fair value, Ending balance	26.85	40
Weighted average grant date fair value, Exercisable	$ 26.65	$ 51.20
RSUs
Stockholders Equity [Line Items]
No. of options, Outstanding, Beginning balance	14,063	30,000
No. of options, Granted	16,944	26,563
No. of options, Exercised/Vested	(19,063)	(42,500)
No. of options, Forfeited	0
No. of options, Expired	0
No. of options, Outstanding, Ending balance	11,944	14,063
Weighted average grant date fair value, Beginning balance	$ 13	$ 32.60
Weighted average grant date fair value, Granted	5.70	16.80
Weighted average grant date fair value, Exercised/Vested	10.85	29.20
Weighted average grant date fair value, Forfeited	0
Weighted average grant date fair value, Expired	0
Weighted average grant date fair value, Ending balance	6.08	13
Minimum
Stockholders Equity [Line Items]
Exercise price range, Outstanding, Beginning balance	13	23.80
Exercise price range, Granted	4.65	13
Exercise price range, Forfeited	8	28.60
Exercise price range, Expired	8	28.80
Exercise price range, Outstanding, Ending balance	4.60	13
Exercise price range, Exercisable	4.60	23.80
Maximum
Stockholders Equity [Line Items]
Exercise price range, Outstanding, Beginning balance	49,200	49,200
Exercise price range, Granted	8	32.80
Exercise price range, Forfeited	32.20	76.40
Exercise price range, Expired	38,160	44,640
Exercise price range, Outstanding, Ending balance	49,200	49,200
Exercise price range, Exercisable	$ 49,200	$ 49,200

Segment Information - Geographi

Segment Information - Geographical Revenue, Segment Operating Loss and Total Asset Information (Details) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) segment item location	Dec. 31, 2022 USD ($)	Sep. 12, 2023 Center
Revenue
Total revenue			$ 30,109	$ 55,939
Operating loss
Total operating loss (including impairment)	$ (12,089)	$ (23,101)	(28,206)	(31,163)
Total depreciation & amortization	590	1,770	2,065	5,429
Total capital expenditures			1,847	6,293
Assets
Total long-lived assets			10,838	18,794
Total assets	$ 42,937	$ 42,937	$ 38,993	70,426
Number of operating segments | segment			4
Number of reportable segments | segment			4
Number of locations operated | location			2
Naples Wax LLC
Assets
Number of High- Performing Locations			3		3
XpresSpa
Revenue
Total revenue			$ 19,067	13,680
Operating loss
Total operating loss (including impairment)			(12,951)	(12,910)
Total depreciation & amortization			1,443	1,479
Total capital expenditures			1,678	2,134
Assets
Total long-lived assets			8,268	11,851
Total assets			18,453	21,135
XpresTest
Revenue
Total revenue			9,912	40,867
Operating loss
Total operating loss (including impairment)			(4,701)	1,238
Total depreciation & amortization			276	2,043
Total capital expenditures			82	775
Assets
Total long-lived assets			92	4,220
Total assets			2,408	11,198
Naples Wax
Revenue
Total revenue			686
Operating loss
Total operating loss (including impairment)			162
Total depreciation & amortization			36
Assets
Total long-lived assets			1,371
Total assets			2,951
Treat
Revenue
Total revenue			444	1,392
Operating loss
Total operating loss (including impairment)			(2,315)	(10,577)
Total depreciation & amortization			264	1,876
Total capital expenditures			60	3,274
Assets
Total long-lived assets			669	2,314
Total assets			848	3,186
Corporate and Other
Operating loss
Total operating loss (including impairment)			(8,401)	(8,914)
Total depreciation & amortization			46	31
Total capital expenditures			27	110
Assets
Total long-lived assets			438	409
Total assets			14,333	34,907
United States
Revenue
Total revenue			24,944	52,250
Assets
Total long-lived assets			8,169	15,084
All other countries
Revenue
Total revenue			5,165	3,689
Assets
Total long-lived assets			$ 2,669	$ 3,710

Segment Information - Additiona

Segment Information - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Accrued Expenses And Other Current Liabilities [Line Items]
Impairment of long-lived assets	$ (7,878)	$ (7,878)	$ 3,927	$ 4,669
Impairment of operating lease right-of-use assets	$ 517	$ 517	926	1,110
XpresSpa
Accrued Expenses And Other Current Liabilities [Line Items]
Impairment of long-lived assets			234	619
Impairment of operating lease right-of-use assets			484	936
XpresTest
Accrued Expenses And Other Current Liabilities [Line Items]
Impairment of long-lived assets				677
Impairment of operating lease right-of-use assets				38
Treat Segment
Accrued Expenses And Other Current Liabilities [Line Items]
Impairment of long-lived assets			925	3,373
Impairment of operating lease right-of-use assets			442	$ 136
HyperPointe
Accrued Expenses And Other Current Liabilities [Line Items]
Impairment of long-lived assets			$ 4,024

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Accrued Expenses and Other Current Liabilities
Litigation accrual	$ 449		$ 963
Accrued compensation	2,098		2,008
Tax-related liabilities	501		573
Common area maintenance accruals	8		160
AP Accruals	913		754
Gift certificates	509		496
Credit card processing fees	8		33
Other miscellaneous accruals	482		732
Total accrued expenses and other current liabilities	$ 4,968	$ 4,198	$ 5,719

Income Taxes - Components of in

Income Taxes - Components of income (loss) before income taxes (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Taxes.
Domestic			$ (27,573)	$ (32,445)
Foreign			(421)	(129)
Total	$ (11,591)	$ (23,099)	$ (27,994)	$ (32,574)

Income Taxes - Income Tax Benef

Income Taxes - Income Tax Benefit (Expense) Attributable to the Operating Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 0	$ 0
State	15	41
Foreign	20	14
Deferred:
Federal	0	0
Total	$ 35	$ 55

Income Taxes - Income Tax Ben_2

Income Taxes - Income Tax Benefit (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Taxes.
Loss from operations before income taxes	$ (11,591)	$ (23,099)	$ (27,994)	$ (32,574)
Tax rate			21%	21%
Computed "expected" tax benefit			$ (5,879)	$ (6,841)
State taxes, net of federal income tax (expense) benefit			(1,027)	706
Change in valuation allowance			9,166	7,015
Adjustment JV Basis				339
Nondeductible expenses			212	341
Other Adjustments			2
Return to Provision Adjustment			(1,860)	(94)
International Rate Differential			(14)
State Deferred Rate Change			(87)	(570)
Asset Impairment Adjustment			(730)	(810)
Other items			252	(31)
Income tax expense			$ 35	$ 55

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax assets
Net operating loss carryforwards	$ 60,263	$ 51,932
Stock-based compensation	1,532	1,029
Intangible assets and other	7,629	7,298
Net deferred income tax assets	69,424	60,259
Less:
Valuation allowance	$ (69,424)	$ (60,259)	$ (53,298)

Income Taxes - Changes to Valua

Income Taxes - Changes to Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Beginning Balance	$ 60,259	$ 53,298
Return to provision true-up and other	1,866	97
Ending Balance	69,424	60,259
Continuing Operations
Income Taxes [Line Items]
Charged to cost and expenses	$ 7,299	$ 6,864

Income Taxes (Details)

Income Taxes (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Income Taxes.
Operating loss carryforwards	$ 150,926
Expiring period	20 years
Operating loss carry forwards without limitation	$ 97,968

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
OTG Management PHL B
Loss Contingencies [Line Items]
Lease term	12 years
Accounts payable, accrued expenses and other.
Loss Contingencies [Line Items]
Estimated litigation liability, current	$ 449	$ 963
Maximum | OTG Management PHL B
Loss Contingencies [Line Items]
Loss contingency damages sought	2,250
Minimum | OTG Management PHL B
Loss Contingencies [Line Items]
Loss contingency damages sought	$ 864

Restatement of Previously Iss_3

Restatement of Previously Issued Financial Statements - Statements of Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2023		Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 8,437		$ 4,827			$ 19,038
Marketable Securities	14,613		21,311			23,153
Accounts receivable	1,667		1,193			2,858
Inventory	900		968			1,161
Other current assets	949		1,663			1,122
Total current assets	26,566		29,962			47,332
Restricted cash	751		751			751
Property and equipment, net	2,454		2,705			3,666
Intangible assets, net	1,353		2,174			4,008
Operating lease right of use assets, net	4,656		5,558			8,276
Other assets	1,842		1,787			2,369
Total assets	38,993		42,937			70,426
Current liabilities
Accounts payable	1,099		1,511			2,312
Accrued expenses and other current liabilities	4,968		4,198			5,719
Current portion of operating lease liabilities	2,402		2,375			2,586
Deferred revenue	861		73			339
Total current liabilities	9,330		8,157			10,956
Long-term liabilities
Operating lease liabilities	8,692		9,123			11,521
Total liabilities	18,022		17,280			22,477
Commitments and contingencies (see Note 13)
Equity
Common Stock, $0.01 par value per share, 150,000,000 shares authorized; 4,179,631 and 4,161,613 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively	42	[1]	42			42	[1]
Additional paid-in capital	470,737		470,270			468,530
Accumulated deficit	(455,853)		(450,882)			(428,112)
Accumulated other comprehensive loss	(1,924)		(1,642)			(534)
Total equity attributable to XWELL, Inc.	13,002		17,788			39,926
Noncontrolling interests	7,969		7,869			8,023
Total equity	20,971		25,657			47,949		$ 99,935
Total liabilities and equity	$ 38,993		42,937			70,426
Previously Reported
Current assets
Cash and cash equivalents			4,827
Marketable Securities			21,311
Accounts receivable			1,193
Inventory			968
Other current assets			1,663
Total current assets			29,962
Restricted cash			751
Property and equipment, net			3,801
Intangible assets, net			2,174
Operating lease right of use assets, net			6,075
Other assets			1,787
Total assets			44,550
Current liabilities
Accounts payable			1,511
Accrued expenses and other current liabilities			4,198
Current portion of operating lease liabilities			2,375
Deferred revenue			73
Total current liabilities			8,157
Long-term liabilities
Operating lease liabilities			9,123
Total liabilities			17,280
Equity
Common Stock, $0.01 par value per share, 150,000,000 shares authorized; 4,179,631 and 4,161,613 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively			42
Additional paid-in capital			470,270
Accumulated deficit			(449,269)
Accumulated other comprehensive loss			(1,642)
Total equity attributable to XWELL, Inc.			19,401
Noncontrolling interests			7,869
Total equity			27,270	$ 37,000	$ 42,591	$ 47,949
Total liabilities and equity			44,550
Restatement Adjustments
Current assets
Property and equipment, net			(1,096)
Operating lease right of use assets, net			(517)
Total assets			(1,613)
Equity
Accumulated deficit			(1,613)
Total equity attributable to XWELL, Inc.			(1,613)
Total equity			(1,613)
Total liabilities and equity			$ (1,613)
[1] Adjusted to reflect the impact of the 1 :20 reverse stock split that became effective on September 28, 2023.

Restatement of Previously Iss_4

Restatement of Previously Issued Financial Statements - Statements of Balance Sheets (Parenthetical) (Details) - $ / shares	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Oct. 24, 2022
Reclassification [Line Items]
Common stock, par value	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized	150,000,000	150,000,000	150,000,000
Common stock, issued	4,179,631	4,174,381	4,161,613
Common stock, outstanding	4,179,631	4,174,381	4,161,613

Restatement of Previously Iss_5

Restatement of Previously Issued Financial Statements - Statements of Operations and Comprehensive Loss (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2023		Dec. 31, 2022
Revenue, net
Total revenue, net	$ 7,468			$ 22,706	$ 30,109		$ 55,939
Cost of sales
Labor	4,462			13,609	17,932		21,437
Occupancy	1,063			3,237	4,473		4,138
Products and other operating costs	852			3,057	4,023		18,316
Total cost of sales	6,377			19,903	26,428		43,891
Gross Profit	1,091			2,803	3,681		12,048
Depreciation and amortization	590			1,770	2,065		5,429
Impairment of long-lived assets	7,878			7,878	(3,927)		(4,669)
Impairment of operating lease right-of-use assets	517			517	926		1,110
Loss on disposal of assets, net	16			34	34		834
Advertising and promotion expense	313			628
IT/Hosting services	273			1,186
Other general and administrative expenses	3,593			13,891
Total operating expenses	13,180			25,904	31,887		43,211
Operating loss	(12,089)			(23,101)	(28,206)		(31,163)
Interest income, net	105			334	448		384
Foreign exchange loss	366			(690)	(738)		(664)
Gain on securities, realized and unrealized	225			703	912
Other non-operating expense, net	(198)			(345)	(410)		(1,131)
Loss before income taxes	(11,591)			(23,099)	(27,994)		(32,574)
Income tax expense					(35)		(55)
Net loss	(11,591)			(23,099)	(28,029)		(32,629)
Net (income) loss attributable to noncontrolling interests	60			329	288		(208)
Net loss attributable to XWELL, Inc.	(11,531)			(22,770)	(27,741)		(32,837)
Other comprehensive loss from operations	(514)			(1,108)
Comprehensive loss from continuing operations	(12,105)			(24,207)
Comprehensive loss	$ (12,105)			$ (24,207)	$ (29,419)		$ (32,851)
Loss per share
Basic loss per share (in dollars per share)	$ (2.76)			$ (5.46)	$ (6.64)		$ (7.01)
Diluted loss per share (in dollars per share)	$ (2.76)			$ (5.46)	$ (6.64)		$ (7.01)
Weighted-average number of shares outstanding during the period
Basic (in shares)	4,173,894			4,170,629	4,175,220	[1]	4,682,767	[1]
Diluted (in shares)	4,173,894			4,170,629	4,175,220	[1]	4,682,767	[1]
Patient services revenue
Revenue, net
Total revenue, net				$ 148	$ 250		$ 32,776
Services
Revenue, net
Total revenue, net	$ 6,709			20,485	27,053		21,227
Products
Revenue, net
Total revenue, net	747			2,044	2,766		1,930
Other
Revenue, net
Total revenue, net	12			29	$ 40		$ 6
Previously Reported
Revenue, net
Total revenue, net	7,468			22,706
Cost of sales
Labor	4,462			13,609
Occupancy	1,063			3,237
Products and other operating costs	852			3,057
Total cost of sales	6,377			19,903
Gross Profit	1,091			2,803
Depreciation and amortization	590			1,770
Impairment of long-lived assets	6,782			6,782
Loss on disposal of assets, net	16			34
Advertising and promotion expense	313			628
IT/Hosting services	273			1,186
Other general and administrative expenses	3,593			13,891
Total operating expenses	11,567			24,291
Operating loss	(10,476)			(21,488)
Interest income, net	105			334
Foreign exchange loss	366			(690)
Gain on securities, realized and unrealized	225			703
Other non-operating expense, net	(198)			(345)
Loss before income taxes	(9,978)			(21,486)
Net loss	(9,978)	$ (5,679)	$ (5,829)	(21,486)
Net (income) loss attributable to noncontrolling interests	60			329
Net loss attributable to XWELL, Inc.	(9,918)			(21,157)
Other comprehensive loss from operations	(514)			(1,108)
Comprehensive loss from continuing operations	(10,492)			(22,594)
Comprehensive loss	$ (10,492)			$ (22,594)
Loss per share
Basic loss per share (in dollars per share)	$ (2.38)			$ (5.07)
Diluted loss per share (in dollars per share)	$ (2.38)			$ (5.07)
Weighted-average number of shares outstanding during the period
Basic (in shares)	4,173,894			4,170,629
Diluted (in shares)	4,173,894			4,170,629
Previously Reported | Patient services revenue
Revenue, net
Total revenue, net				$ 148
Previously Reported | Services
Revenue, net
Total revenue, net	$ 6,709			20,485
Previously Reported | Products
Revenue, net
Total revenue, net	747			2,044
Previously Reported | Other
Revenue, net
Total revenue, net	12			29
Restatement Adjustments
Cost of sales
Impairment of long-lived assets	1,096			1,096
Impairment of operating lease right-of-use assets	517			517
Total operating expenses	1,613			1,613
Operating loss	(1,613)			(1,613)
Loss before income taxes	(1,613)			(1,613)
Net loss	(1,613)			(1,613)
Net loss attributable to XWELL, Inc.	(1,613)			(1,613)
Comprehensive loss from continuing operations	(1,613)			(1,613)
Comprehensive loss	$ (1,613)			$ (1,613)
Loss per share
Basic loss per share (in dollars per share)	$ (0.39)			$ (0.39)
Diluted loss per share (in dollars per share)	$ (0.39)			$ (0.39)
Weighted-average number of shares outstanding during the period
Basic (in shares)	4,173,894			4,170,629
Diluted (in shares)	4,173,894			4,170,629
[1] Adjusted to reflect the impact of the 1 :20 reverse stock split that became effective on September 28, 2023.

Restatement of Previously Iss_6

Restatement of Previously Issued Financial Statements - Statements of Operations and Comprehensive Loss (Parenthetical) (Details)	Sep. 28, 2023
Restatement of Previously Issued Financial Statements
Reverse stock split conversion ratio	0.05

Restatement of Previously Iss_7

Restatement of Previously Issued Financial Statements - Statements of Changes in Equity (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended	12 Months Ended
		Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2023		Dec. 31, 2022
Reclassification [Line Items]
Balance Beginning				$ 47,949	$ 47,949	$ 47,949		$ 99,935
Common Stock, Shares, Outstanding, Beginning Balance				4,161,613	4,161,613	4,161,613
Value of Shares Withheld to fund payroll taxes						$ (22)		(73)
Stock-based compensation						2,319		3,770
Grant of stock options for services						3		103
Contributions from noncontrolling interests						150		1,025
Distributions to noncontrolling interests						(120)		(956)
Foreign currency translation						(1,279)		(343)
Net loss for the period		$ (11,591)			$ (23,099)	(28,029)		(32,629)
Balance Ending		$ 25,657			$ 25,657	$ 20,971		$ 47,949
Common Stock, Shares, Outstanding, Ending Balance		4,174,381			4,174,381	4,179,631		4,161,613
Common stock
Reclassification [Line Items]
Balance Beginning	[1]			$ 42	$ 42	$ 42		$ 51
Common Stock, Shares, Outstanding, Beginning Balance	[1]			4,161,613	4,161,613	4,161,613		5,063,467
Issuance of restricted stock units (in shares)	[1]					18,018
Balance Ending		$ 42			$ 42	$ 42	[1]	$ 42	[1]
Common Stock, Shares, Outstanding, Ending Balance		4,174,381			4,174,381	4,179,631	[1]	4,161,613	[1]
Additional paid-in capital
Reclassification [Line Items]
Balance Beginning				$ 468,530	$ 468,530	$ 468,530		$ 488,268
Value of Shares Withheld to fund payroll taxes						(22)		(73)
Stock-based compensation						2,226		3,106
Grant of stock options for services						3		103
Balance Ending		$ 470,270			470,270	470,737		468,530
Accumulated deficit
Reclassification [Line Items]
Balance Beginning				(428,112)	(428,112)	(428,112)		(395,275)
Net loss for the period						(27,741)		(32,837)
Balance Ending		(450,882)			(450,882)	(455,853)		(428,112)
Accumulated other comprehensive loss
Reclassification [Line Items]
Balance Beginning				(534)	(534)	(534)		(312)
Foreign currency translation						(1,390)		(222)
Balance Ending		(1,642)			(1,642)	(1,924)		(534)
Total Company equity
Reclassification [Line Items]
Balance Beginning				39,926	39,926	39,926		92,732
Value of Shares Withheld to fund payroll taxes						(22)		(73)
Stock-based compensation						2,226		3,106
Grant of stock options for services						3		103
Foreign currency translation						(1,390)		(222)
Net loss for the period						(27,741)		(32,837)
Balance Ending		17,788			17,788	13,002		39,926
Non-controlling interests
Reclassification [Line Items]
Balance Beginning				8,023	8,023	8,023		7,203
Stock-based compensation						93		664
Contributions from noncontrolling interests						150		1,025
Distributions to noncontrolling interests						(120)		(956)
Foreign currency translation						111		(121)
Net loss for the period						(288)		208
Balance Ending		7,869			7,869	7,969		8,023
Previously Reported
Reclassification [Line Items]
Balance Beginning		37,000	$ 42,591	47,949	47,949	47,949
Value of Shares Withheld to fund payroll taxes				(22)
Stock-based compensation		591	626	612
Grant of stock options for services		3
Contributions from noncontrolling interests		150
Distributions to noncontrolling interests			(120)
Foreign currency translation		(496)	(418)	(119)
Net loss for the period		(9,978)	(5,679)	(5,829)	(21,486)
Balance Ending		27,270	37,000	42,591	27,270			47,949
Previously Reported | Common stock
Reclassification [Line Items]
Balance Beginning		$ 42	$ 42	$ 42	$ 42	$ 42
Common Stock, Shares, Outstanding, Beginning Balance		4,170,925	4,167,628	4,161,613	4,161,613	4,161,613
Issuance of restricted stock units (in shares)		3,456	3,297	6,015
Balance Ending		$ 42	$ 42	$ 42	$ 42			$ 42
Common Stock, Shares, Outstanding, Ending Balance		4,174,381	4,170,925	4,167,628	4,174,381			4,161,613
Previously Reported | Additional paid-in capital
Reclassification [Line Items]
Balance Beginning		$ 469,700	$ 469,097	$ 468,530	$ 468,530	$ 468,530
Value of Shares Withheld to fund payroll taxes				(22)
Stock-based compensation		567	603	589
Grant of stock options for services		3
Balance Ending		470,270	469,700	469,097	470,270			$ 468,530
Previously Reported | Accumulated deficit
Reclassification [Line Items]
Balance Beginning		(439,351)	(433,621)	(428,112)	(428,112)	(428,112)
Net loss for the period		(9,918)	(5,730)	(5,509)
Balance Ending		(449,269)	(439,351)	(433,621)	(449,269)			(428,112)
Previously Reported | Accumulated other comprehensive loss
Reclassification [Line Items]
Balance Beginning		(1,128)	(664)	(534)	(534)	(534)
Foreign currency translation		(514)	(464)	(130)
Balance Ending		(1,642)	(1,128)	(664)	(1,642)			(534)
Previously Reported | Total Company equity
Reclassification [Line Items]
Balance Beginning		29,263	34,854	39,926	39,926	39,926
Value of Shares Withheld to fund payroll taxes				(22)
Stock-based compensation		567	603	589
Grant of stock options for services		3
Foreign currency translation		(514)	(464)	(130)
Net loss for the period		(9,918)	(5,730)	(5,509)
Balance Ending		19,401	29,263	34,854	19,401			39,926
Previously Reported | Non-controlling interests
Reclassification [Line Items]
Balance Beginning		7,737	7,737	8,023	8,023	$ 8,023
Stock-based compensation		24	23	23
Contributions from noncontrolling interests		150
Distributions to noncontrolling interests			(120)
Foreign currency translation		18	46	11
Net loss for the period		(60)	51	(320)
Balance Ending		7,869	$ 7,737	$ 7,737	7,869			$ 8,023
Restatement Adjustments
Reclassification [Line Items]
Net loss for the period		(1,613)			(1,613)
Balance Ending		(1,613)			(1,613)
Restatement Adjustments | Accumulated deficit
Reclassification [Line Items]
Balance Ending		(1,613)			(1,613)
Restatement Adjustments | Total Company equity
Reclassification [Line Items]
Balance Ending		$ (1,613)			$ (1,613)
[1] Adjusted to reflect the impact of the 1 :20 reverse stock split that became effective on September 28, 2023.

Restatement of Previously Iss_8

Restatement of Previously Issued Financial Statements - Statements of Changes in Equity (Parenthetical) (Details)	Sep. 28, 2023
Restatement of Previously Issued Financial Statements
Reverse stock split conversion ratio	0.05

Restatement of Previously Iss_9

Restatement of Previously Issued Financial Statements - Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net loss	$ (11,591)			$ (23,099)	$ (28,029)	$ (32,629)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	590			1,770	2,065	5,429
Impairment of long lived assets				8,395	1,159	4,559
Foreign currency remeasurement loss				690	738
Loss on disposal of assets, net				34	34	834
Gain on lease termination				(821)	(821)
Unrealized gain on marketable securities				(668)	(877)
Amortization of operating lease right of use asset				1,163	1,481	1,844
Stock-based compensation				1,832	2,319	3,770
Loss on equity investment				53	54	618
Changes in assets and liabilities:
Decrease in inventory				192	261	592
Decrease (increase) in accounts receivable				1,665	1,191	(1,835)
Decrease (increase) in other assets, current and non-current				(336)	512	(457)
Decrease (increase) in deferred revenue				(266)	(289)	(933)
Decrease in other liabilities, current and non-current				(3,226)	(3,105)	(4,056)
Decrease in accounts payable				(251)	(488)	(3,247)
Net cash used in operating activities				(12,873)	(16,074)	(24,188)
Cash flows from investing activities
Acquisition of property and equipment				(1,639)	(1,905)	(6,464)
Investment in marketable securities				(1,991)		(23,153)
Sale of marketable securities				4,500	9,417
Acquisition of intangibles				(468)	(468)	(373)
Net cash provided by (used in) investing activities				(1,172)	5,650	(34,843)
Cash flows from financing activities
Contributions from noncontrolling interests				150	150	1,025
Payments for shares withheld on vesting				(22)	(22)	(73)
Distributions to noncontrolling interests				(120)	(120)	(956)
Net cash provided by (used in) financing activities				8	8	(27,377)
Effect of exchange rate changes on cash, cash equivalents and restricted cash				(174)	(185)	(60)
Decrease in cash, cash equivalents and restricted cash				(14,211)	(10,601)	(86,468)
Cash, cash equivalents, and restricted cash at beginning of the year			$ 19,789	19,789	19,789	106,257
Cash, cash equivalents, and restricted cash at end of the year	5,578			5,578	9,188	19,789
Cash paid for
Income taxes				142
Non-cash investing and financing transactions
Capital expenditures included in Accounts payable, accrued expenses and other current liabilities				197	17	544
Previously Reported
Cash flows from operating activities
Net loss	(9,978)	$ (5,679)	(5,829)	(21,486)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	590			1,770
Impairment of long lived assets				6,782
Foreign currency remeasurement loss				690
Loss on disposal of assets, net				34
Gain on lease termination				(821)
Unrealized gain on marketable securities				(668)
Amortization of operating lease right of use asset				1,163
Stock-based compensation				1,832
Loss on equity investment				53
Changes in assets and liabilities:
Decrease in inventory				192
Decrease (increase) in accounts receivable				1,665
Decrease (increase) in other assets, current and non-current				(336)
Decrease (increase) in deferred revenue				(266)
Decrease in other liabilities, current and non-current				(3,226)
Decrease in accounts payable				(251)
Net cash used in operating activities				(12,873)
Cash flows from investing activities
Acquisition of property and equipment				(1,639)
Investment in marketable securities				(1,991)
Sale of marketable securities				4,500
Acquisition of intangibles				(468)
Net cash provided by (used in) investing activities				(1,172)
Cash flows from financing activities
Contributions from noncontrolling interests				150
Payments for shares withheld on vesting				(22)
Distributions to noncontrolling interests				(120)
Net cash provided by (used in) financing activities				8
Effect of exchange rate changes on cash, cash equivalents and restricted cash				(174)
Decrease in cash, cash equivalents and restricted cash				(14,211)
Cash, cash equivalents, and restricted cash at beginning of the year			$ 19,789	19,789	19,789
Cash, cash equivalents, and restricted cash at end of the year	5,578			5,578		$ 19,789
Cash paid for
Income taxes				142
Non-cash investing and financing transactions
Capital expenditures included in Accounts payable, accrued expenses and other current liabilities				197
Restatement Adjustments
Cash flows from operating activities
Net loss	$ (1,613)			(1,613)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment of long lived assets				1,613
Naples Wax LLC
Cash flows from investing activities
Acquisition net of cash assumed				(1,574)	$ (1,394)
Naples Wax LLC | Previously Reported
Cash flows from investing activities
Acquisition net of cash assumed				$ (1,574)

Restatement of Previously Is_10

Restatement of Previously Issued Financial Statements - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Reclassification [Line Items]
Net loss	$ (11,531)	$ (22,770)	$ (27,741)	$ (32,837)
Impairment of long-lived assets	(7,878)	$ (7,878)	$ 3,927	$ 4,669
Restatement adjustment
Reclassification [Line Items]
Net loss	(1,613)
Impairment of long-lived assets	$ 1,613
Error Correction, Type [Extensible Enumeration]	xwel:CorrectionInImpairmentAnalysisOnLongLivedAssetsMember

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (11,531)	$ (22,770)	$ (27,741)	$ (32,837)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false