XCel Brands, Inc.

For the period ended Sep 30, 2025. Filed Nov 19, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 19, 2025

XELB$0.43+6.7%Stored close · as of Nov 10, 2026

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Contents

Unaudited Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)


· September 30, 2025 · December 31, 2024
· · (Unaudited) · · (Note 1)
Assets · ·
Current Assets: · ·
Cash and cash equivalents	$1,494	$1,254
Accounts receivable, net of allowances for credit losses of $30 and $0, respectively	1,403	2,269
Prepaid expenses and other current assets	1,201	520
Total current assets	4,098	4,043
Non-current Assets:
Property and equipment, net	145	182
Operating lease right-of-use assets	3,196	3,751
Trademarks and other intangibles, net	32,111	34,759
Investments in unconsolidated affiliates	—	10,110
Other assets	912	911
Total non-current assets	36,364	49,713

Total Assets	$40,462	$53,756

Liabilities and Stockholders' Equity
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	$1,371	$2,734
Deferred revenue	1,362	1,380
Accrued income taxes payable	113	554
Current portion of operating lease obligations	1,655	1,513
Current portion of long-term debt	3,500	—
Contingent obligation	—	4,213
Total current liabilities	8,001	10,394
Long-Term Liabilities:
Deferred revenue	2,000	2,667
Long-term portion of operating lease obligations	4,111	5,297
Long-term debt, net, less current portion	9,038	6,569
Other long-term liabilities	732	431
Total long-term liabilities	15,881	14,964
Total Liabilities	23,882	25,358

Commitments and Contingencies

Stockholders' Equity:
Preferred stock, $.001 par value, 1,000,000 shares authorized, none issued and outstanding	—	—
Common stock, $.001 par value, 50,000,000 shares authorized, and 4,806,776 and 2,368,072 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively	5	2
Paid-in capital	109,622	106,666
Accumulated deficit	(90,928)	(76,244)
Total Xcel Brands, Inc. stockholders' equity	18,699	30,424
Noncontrolling interest	(2,119)	(2,026)
Total Stockholders' Equity	16,580	28,398

Total Liabilities and Stockholders' Equity	$40,462	$53,756

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.