$XSPA XpresSpa Tumbles in Late Trade After Q3 Net Loss Widens, Revenue Sinks 87% Amid Pandemic
MIDNIGHTTRADER - Updated 15 hours ago
05:07 PM EST, 11/16/2020 (MT Newswires) -- XpresSpa Group (XSPA) fell almost 6% in late trade after the the health and wellness company Monday reported a Q3 net loss of $6.1 million, expanding on a $4.6 million loss during the September quarter last year, while revenue plunged almost 87% year-over-year to $201,000.
Analyst estimates were not available. The company did not provide per-share earnings.
XpresSpa closed all of its airport-based exercise facilities on March 24 in response to the global COVID-19 pandemic and has only reopened its two spas at Dubai International Airport to limited business since that time.
It has established rapid COVID-19 test facilities at three airports in the northeastern US and is expecting to open another XpresCheck wellness center at Phoenix Sky Harbor airport in late November. Additional locations were in the pipeline, the company said.
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