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Midas Edge

XCel Brands, Inc.

For the period ended Dec 31, 2025. Filed Apr 15, 2026.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Apr 15, 2026

XELB$0.40-6.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

​​​ ​ ​Page
PART I​​​
Item 1Business​4
Item 1ARisk Factors​11
Item 1BUnresolved Staff Comments​31
Item 1CCybersecurity​31
Item 2Properties​31
Item 3Legal Proceedings​31
Item 4Mine Safety Disclosures​31
​​​​
PART II​​​
Item 5Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities​32
Item 6[Reserved]​34
Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations​34
Item 7AQuantitative and Qualitative Disclosures About Market Risk​48
Item 8Financial Statements and Supplementary Data​48
Item 9Changes in and Disagreements with Accountants on Accounting and Financial Disclosure​93
Item 9AControls and Procedures​93
Item 9BOther Information​93
Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections​94
​​​​
PART III​​​
Item 10Directors, Executive Officers and Corporate Governance​94
Item 11Executive Compensation​103
Item 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters​106
Item 13Certain Relationships and Related Transactions, and Director Independence​108
Item 14Principal Accountant Fees and Services​110
​​​​
PART IV​​​
Item 15Exhibit and Financial Statement Schedules​111
​Signatures​116
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.