Xpresspa was Xwell’s largest segment in fiscal 2025, bringing in $18.65M of $29.21M (64%).
| Segment | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Xprestest | $40.87M | $9.91M | $13.06M | $8.25M | |||
| Xpresspa | $13.68M | $19.07M | $18.77M | $18.65M | |||
| Naples Wax | — | $686.00K | $2.08M | $2.31M | |||
| Corporate & Other | — | — | — | — | |||
| Treat | $1.39M | $444.00K | — | — | |||
| Total | $55.94M | $30.11M | $33.90M | $29.21M |
Xwell brought in $29.21M from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 13.8% from $33.90M in fiscal 2024. Xpresspa was the largest at $18.65M (63.8%), ahead of Xprestest at $8.25M (28.2%) and Naples Wax at $2.31M (7.9%).
Compared with fiscal 2024, Naples Wax grew fastest, up 11.3% to $2.31M, while Xprestest fell the most, down 36.8% to $8.25M.
Xwell began breaking out Naples Wax in fiscal 2023, when it brought in $686.00K. Xwell stopped reporting Treat as a separate segment after fiscal 2023, when it brought in $444.00K.
Services was Xwell’s largest product and service line in fiscal 2025, bringing in $26.27M of $29.21M (90%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Patient Services Revenue | $32.78M | — | — | — | ||||
| Services | $21.23M | $27.34M | $30.66M | $26.27M | ||||
| Service | — | — | — | — | ||||
| Managed Services Fees | — | — | — | — | ||||
| Products | $1.93M | $2.77M | $3.24M | $2.94M | ||||
| Product | — | — | — | — | ||||
| Other | $6.00K | — | — | — | ||||
| Total | $55.94M | $30.11M | $33.90M | $29.21M |
Xwell brought in $29.21M from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 13.8% from $33.90M in fiscal 2024. Services was the largest at $26.27M (89.9%), ahead of Products at $2.94M (10.1%).
Compared with fiscal 2024, Products fell 9.1% to $2.94M and Services fell 14.3% to $26.27M.
Xwell stopped reporting Patient Services Revenue ($32.78M in fiscal 2022) and Other ($6.00K in fiscal 2022) as separate lines.
United States was Xwell’s largest region in fiscal 2025, bringing in $23.42M of $29.21M (80%).
| Geography | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $52.25M | $24.94M | $27.81M | $23.42M | |||||||
| All Other Countries | $3.69M | $5.17M | $6.08M | $5.79M | |||||||
| Total | $55.94M | $30.11M | $33.90M | $29.21M |
Xwell brought in $29.21M from its two regions in fiscal 2025, the year ended December 31, 2025. That was down 13.8% from $33.90M in fiscal 2024. United States was the largest at $23.42M (80.2%), ahead of All Other Countries at $5.79M (19.8%).
Compared with fiscal 2024, All Other Countries fell 4.8% to $5.79M and United States fell 15.8% to $23.42M. From fiscal 2022 to 2025, combined revenue from these regions fell from $55.94M to $29.21M, a compound annual decline of 19.5%. United States' share of the total fell from 93.4% to 80.2%.
Xwell (XWEL) reports its revenue by segment, by product and service and by geography. In fiscal 2025, Xpresspa was its largest segment, bringing in $18.65M (63.8% of the total), followed by Xprestest at $8.25M (28.2%).
Xpresspa was Xwell's largest segment in fiscal 2025, bringing in $18.65M, or 63.8% of the $29.21M total across its three segments.
Services was Xwell's largest product and service line in fiscal 2025, bringing in $26.27M, or 89.9% of the $29.21M total across its two product and service lines.
United States was Xwell's largest region in fiscal 2025, bringing in $23.42M, or 80.2% of the $29.21M total across its two regions.
Among Xwell's segments that make up at least 2% of revenue, Naples Wax grew fastest in fiscal 2025, up 11.3% from $2.08M to $2.31M.
Every figure comes from Xwell's annual financial filings, as reported. Each line keeps the name Xwell gives it, and years follow its fiscal calendar.
Xwell's revenue by segment goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.