XCel Brands Inc
For the period ended Mar 31, 2024. Filed May 20, 2024.
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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.
Mar 31, 2024 · Filed May 20, 2024
XELB$0.43+6.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the Three Months Ended | ||||||
| · · March 31, | ||||||
| · 2024 · 2023 | ||||||
| Revenues · · · | ||||||
| Net licensing revenue | | $2,184 | | $2,222 | ||
| Net sales | | — | | 3,828 | ||
| Net revenue | | 2,184 | | 6,050 | ||
| Cost of goods sold | | — | | 2,693 | ||
| Gross profit | | 2,184 | | 3,357 | ||
| | | | | | | |
| Direct operating costs and expenses | | | ||||
| Salaries, benefits and employment taxes | | 1,933 | | 3,465 | ||
| Other selling, general and administrative expenses | | 2,029 | | 3,493 | ||
| Total direct operating costs and expenses | | 3,962 | | 6,958 | ||
| | | | | | | |
| Operating loss before other operating costs and expenses | | | (1,778) | | | (3,601) |
| | | | | | | |
| Other operating costs and expenses | | | | | | |
| Depreciation and amortization | | 1,589 | | 1,797 | ||
| Asset impairment charges | | | 2,295 | | | — |
| Loss from equity method investments | | | 533 | | | 515 |
| | | | | | | |
| Operating loss | | (6,195) | | (5,913) | ||
| | | | | | | |
| Interest and finance (income) expense | | | ||||
| Interest expense - term loan debt | | 146 | | — | ||
| Other interest and finance charges (income), net | | 4 | | 25 | ||
| Total interest and finance (income) expense | | 150 | | 25 | ||
| | | | | | | |
| Loss before income taxes | | (6,345) | | (5,938) | ||
| | | | | | | |
| Income tax benefit | | — | | — | ||
| | | | | | | |
| Net loss | | | (6,345) | | | (5,938) |
| Net loss attributable to noncontrolling interest | | | (51) | | | (295) |
| Net loss attributable to Xcel Brands, Inc. stockholders | | $(6,294) | | $(5,643) | ||
| | | | | | | |
| Loss per common share attributable to Xcel Brands, Inc. stockholders: | | | ||||
| Basic and diluted net loss per share | | $(0.31) | | $(0.29) | ||
| Weighted average number of common shares outstanding: | | | ||||
| Basic and diluted weighted average common shares outstanding | | 20,374,920 | | 19,633,194 | ||
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