Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

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Equity Bottom-Up

<ul><li>XWELL reported 1Q23 revenue of $7.1 million, compared with $7.6 million in 4Q22, which is a reasonable performance given that the first quarter tends to be seasonally slow.</li><li>The spa business contributed $4.7 million, helped by growth in international spas.</li><li>The XpresTest segment, which included the CDC program and the one remaining XpresCheck location, contributed $1.8 million, while HyperPointe contributed $0.6 million.</li></ul>

XWELL reported 1Q23 revenue of $7.1 million, compared with $7.6 million in 4Q22, which is a reasonable performance given that the first quarter tends to be seasonally slow.The spa business contributed $4.7 million, helped by growth in international spas.The XpresTest segment, which included the CDC program and the one remaining XpresCheck location, contributed $1.8 million, while HyperPointe contributed $0.6 million.

XWELL, INC - Reports 1Q23 Results; Early Steps on the Way Back to Profitability