XCel Brands Inc

For the period ended Dec 31, 2023. Filed Apr 19, 2024.

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.

FY2023 · Filed Apr 19, 2024

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

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Contents

Consolidated Statements of Operations

(in thousands, except share and per share data)


· · For the Year Ended
· · December 31,
· · 2023 · 2022
Revenue · · ·
Net licensing revenue	$9,156	$14,737
Net sales	8,599	11,044
Net revenue	17,755	25,781
Cost of goods sold	6,918	7,980
Gross profit	10,837	17,801

Direct operating costs and expenses
Salaries, benefits and employment taxes	9,910	16,802
Other selling, general and administrative expenses	13,361	16,280
Total direct operating costs and expenses	23,271	33,082

Other operating costs and expenses (income)
Depreciation and amortization	6,954	7,263
Gain on sale of majority interest in Isaac Mizrahi brand	—	(20,586)
Loss from equity method investment	2,060	1,202
Gain on sale of limited partner ownership interest	(359)	—
Gain on settlement of lease liability	(445)	—
Gain on reduction of contingent obligation	—	(900)

Operating loss	(20,644)	(2,260)

Interest and finance expense
Interest expense	113	1,187
Other interest and finance charges, net	268	16
Loss on early extinguishment of debt	—	2,324
Total interest and finance expense	381	3,527

Loss before income taxes	(21,025)	(5,787)

Income tax provision (benefit)	1,212	(431)

Net loss	(22,237)	(5,356)
Net loss attributable to noncontrolling interest	(1,185)	(1,338)
Net loss attributable to Xcel Brands, Inc. stockholders	$(21,052)	$(4,018)

Loss per common share attributable to Xcel Brands, Inc. stockholders:
Basic and diluted net loss per share	$(1.07)	$(0.20)
Weighted average number of common shares outstanding:
Basic and diluted weighted average common shares outstanding	19,711,637	19,624,669

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.