XCel Brands Inc
For the period ended Jun 30, 2024. Filed Aug 14, 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.
Jun 30, 2024 · Filed Aug 14, 2024
XELB$0.43+6.7%Stored close · as of Nov 10, 2026
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Unaudited Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · For the Three Months Ended · · For the Six Months Ended | ||||||||||||
| · · June 30, · · June 30, | ||||||||||||
| · 2024 · 2023 · 2024 · 2023 | ||||||||||||
| Revenues · · · · · | ||||||||||||
| Net licensing revenue | | $2,826 | | $2,428 | | $5,010 | | $4,650 | ||||
| Net sales | | 128 | | 4,353 | | 128 | | 8,181 | ||||
| Net revenue | | 2,954 | | 6,781 | | 5,138 | | 12,831 | ||||
| Cost of goods sold | | 38 | | 3,800 | | 38 | | 6,493 | ||||
| Gross profit | | 2,916 | | 2,981 | | 5,100 | | 6,338 | ||||
| | | | | | | | | | | | | |
| Direct operating costs and expenses | | | | | ||||||||
| Salaries, benefits and employment taxes | | 1,630 | | 2,241 | | 3,563 | | 5,706 | ||||
| Other selling, general and administrative expenses | | 1,490 | | 2,943 | | 3,519 | | 6,436 | ||||
| Total direct operating costs and expenses | | 3,120 | | 5,184 | | 7,082 | | 12,142 | ||||
| | | | | | | | | | | | | |
| Operating loss before other operating costs and expenses (income) | | | (204) | | | (2,203) | | | (1,982) | | | (5,804) |
| | | | | | | | | | | | | |
| Other operating costs and expenses (income) | | | | | | | | | | | | |
| Depreciation and amortization | | 1,545 | | 1,786 | | 3,134 | | 3,583 | ||||
| Asset impairment charges | | | 1,188 | | | — | | | 3,483 | | | — |
| Loss from equity method investments | | | 557 | | | 515 | | | 1,090 | | | 1,030 |
| Gain on divestiture of Lori Goldstein Brand | | | (3,801) | | | — | | | (3,801) | | | — |
| Gain on sale of limited partner ownership interest | | | — | | | (351) | | | — | | | (351) |
| Gain on settlement of lease liability | | | — | | | (445) | | | — | | | (445) |
| | | | | | | | | | | | | |
| Operating income (loss) | | 307 | | (3,708) | | (5,888) | | (9,621) | ||||
| | | | | | | | | | | | | |
| Interest and finance expense (income), net | | 146 | | (7) | | 296 | | 18 | ||||
| | | | | | | | | | | | | |
| Income (loss) before income taxes | | 161 | | (3,701) | | (6,184) | | (9,639) | ||||
| | | | | | | | | | | | | |
| Income tax provision (benefit) | | — | | — | | — | | — | ||||
| | | | | | | | | | | | | |
| Net income (loss) | | | 161 | | | (3,701) | | | (6,184) | | | (9,639) |
| Net loss attributable to noncontrolling interest | | | (34) | | | (233) | | | (85) | | | (528) |
| Net income (loss) attributable to Xcel Brands, Inc. stockholders | | $195 | | $(3,468) | | $(6,099) | | $(9,111) | ||||
| | | | | | | | | | | | | |
| Earnings (loss) per common share attributable to Xcel Brands, Inc. stockholders: | | | | | ||||||||
| Basic earnings (loss) per share | | $0.01 | | $(0.18) | | $(0.28) | | $(0.46) | ||||
| Diluted earnings (loss) per share | | $0.01 | | $(0.18) | | $(0.28) | | $(0.46) | ||||
| Weighted average number of common shares outstanding: | | | | | ||||||||
| Basic weighted average common shares outstanding | | 23,491,238 | | 19,735,500 | | 21,933,079 | | 19,684,630 | ||||
| Diluted weighted average common shares outstanding | | 23,539,886 | | 19,735,500 | | 21,933,079 | | 19,684,630 | ||||
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