XpresSpa acquisition boosts Form Holdings results

|About: XpresSpa Group (XSPA)|By:, SA News Editor

Form Holdings' (FH +4.9%) Q1 results showed the benefit of its acquisition of ExpresSpa in December, with revenues up 615%.

Comparable-store sales grew 7% at XpresSpa with a 20% store-level gross profit margin.

Revenue by segment: Wellness (XpresSpa), $11M; Technology, $3.5M (up 172%); Intellectual Property, $0.1M.

Cash balance was $11.7M, with long-term debt at $6.5M.

It's reaffirming full-year guidance for $70M in revenue ($50M from XpresSpa, $20M from Group Mobile). It expects Group Mobile to be profitable for 2017.

It also said it will continue to benefit from a $13M net operating loss carryforward.

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