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XpresSpa Group XpresSpa Group Reports Third Quarter 2021 Results November 15 , 2021 Best Performing Quarterly Financial Results in Company History Record Quarterly Revenue of $ 26.8 Million Record Net Income of $ 5.6 Million On Track for Record Year of Revenue and Earnings Strong Liquidity Position with Unrestricted Cash Balance Increasing to $ 109.2 Million Webcast and Conference Call Scheduled for 4:30 PM ET Today NEW YORK , Nov. 15 , 2021 ( GLOBE NEWSWIRE ) -- XpresSpa Group , Inc. ( Nasdaq : XSPA ) , a travel health and wellness company , today announced that it has filed financial results on Form 10 - Q for the third quarter ending September 30 , 2021 . Doug Satzman , XpresSpa Group CEO , stated , " We are extremely pleased with our record results and sincerely thank our entire team for making them possible . For the third quarter , we generated our highest ever revenue of $ 26.8 million as well as our first ever quarter of profitability , with net income of $ 5.6 million . In fact , XpresSpa Group has reached a year - to - date , nine - month consolidated revenue of $ 44.4 million and year - to - date net income of $ 74 thousand . We are projecting a strong end to 2021 as we approach the holiday season , which would make this a banner year for our Company . " Mr. Satzman continued , “ Strong testing numbers , concurrent with the resumption of travel , have enabled XpresCheck to vastly surpass our expectations to - date . We firmly believe that COVID - 19 testing at major U.S. airports will remain an important part of travel , especially international travel , for the foreseeable future . This is due to the emergence of highly contagious COVID - 19 variants , such as Delta , along with break - through vaccination infections . Our $ 2 million Centers for Disease Control and Prevention ( " CDC " ) pilot program , which is not reflected in these quarterly financials , is also showing positive results and we expect to recognize approximately 75 % of the revenue during this fourth quarter . We also anticipate that this CDC program will be expanded . " Mr. Satzman added , " As we look to the future of XpresSpa Group , along with XpresCheck , we envision Treat becoming a leader in the emerging new category of travel health and wellness by providing 24/7 , on - demand access to integrated healthcare through technology and personalized services . Having already launched our Treat website and mobile app , we are now focused on opening our first Treat In - Airport Wellness Centers . Treat at JFK Terminal 4 is scheduled to open next month while Treat at Phoenix Sky Harbor is now scheduled during the first quarter next year . Additional location openings are planned for 2022 and 2023. " Mr. Satzman concluded , " Ultimately , we believe that the Company has significant opportunities utilizing three sustainable growth brands that can collectively generate annualized revenue of $ 500 million by 2025. We believe each can have healthy unit level economics and can operate adjacent to the others while leveraging an efficient corporate structure , coupled with our relationships and experience operating in global airports . In realizing our growth target , we intend to elevate these brands and remain nimble , but also further expanding our services and products , resulting in increased market share and attendant shareholder value . " Business Update XpresCheckTM Wellness Centers XpresCheck's business has entered into management services agreements with state licensed physicians and nurse practitioners , under which we administer COVID - 19 testing options , including a Polymerase Chain Reaction ( PCR ) test and a rapid PCR test . As of today , there are 14 operating XpresCheck locations in 12 airports . Recent developments since the beginning of the third quarter of 2021 include : • XpresCheck opened a COVID - 19 testing facility at Hartsfield - Jackson Atlanta International Airport ( ATL ) inside a legacy XpresSpa located in Concourse E. • XpresCheck initiated its $ 2 million , eight - week pilot program with the CDC in collaboration with Concentric by Ginkgo . Under this program , XpresCheck is conducting biosurveillance monitoring at three major U.S. airports ( JFK International Airport , Newark Liberty International Airport and San Francisco International Airport ) aimed at identifying existing and new SARS - CoV - 2 variants , including the highly contagious Delta variant and other new variants surfacing in the U.S. • The revenue on this contract is based on certain milestones specified in the contract and no revenue was recorded during the third quarter of 2021. However , the Company believes that approximately 75 % of the revenue will be recorded during the fourth quarter of 2021. The Company is pleased with the initial results of the CDC pilot program as the number of participants continues to increase . XpresSpaTM Services