XWELL, Inc. (NASDAQ:XWEL) Q4 2022 Results Conference Call April 17, 2023 5:00 PM ET
Company Participants
Omar Haynes - Interim CFO
Scott Milford - CEO
Operator
Greetings. Welcome to XWELL, Inc.'s Fiscal Year 2022 Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded on April 17, 2023.
I would now like to turn the conference over to Omar Haynes, Interim Chief Financial Officer for XWELL. Please go ahead, sir.
Omar Haynes
Good day, everyone. Welcome to our conference call to review XWELL's fiscal year 2022 operating results. Joining me on today's call is Scott Milford, XWELL's Chief Executive Officer. We have posted our fiscal year earnings release on the Investor Relations section of our website located at www.xwell.com. A link to the webcast of today's conference can also be found on our site.
Before turning the call over to Scott for his prepared remarks, we need to advise you of the following. Comments made on today's call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current assumptions and opinions that involve a variety of known and unknown risks and uncertainties. Actual results may differ materially from those contained in or suggested by such forward-looking statements.
Important factors that might cause such differences include those set forth from time to time in our SEC filings, including our report on Form 10-K for the year ended December 31, 2022, as well as other current and periodic reports that we file with the SEC.
With that said, I'd now like to turn the call over to Scott.
Scott Milford
Thank you, Omar, and good day, everyone. We appreciate you joining us today. I'll begin today's call by providing an update on recent business activity and how we're performing. Then Omar will provide an overview of our fiscal year 2022 results.
As outlined in our December shareholder letter, I'm pleased to note that during 2022, XWELL continued to make steady progress executing against the company's operating strategy and that our focus in 2023 is to further leverage that progress to deliver a leaner, more profitable spa business, expand our biosurveillance business and grow profit through off-airport acquisition.
We're seeing strong operating momentum year-over-year in our retail operation. Most of our spas are performing better compared to a year ago. And as I'll discuss in a few minutes, we're already seeing signs of strong performance from the use of our new therapeutic chairs which will replace our existing lounges. Additionally, we're beginning to execute the physical upgrade of our core locations while also advancing the use of autonomous services, all with the goal of improving the overall experience we deliver our guests while also improving unit economics in our airport business.