XCel Brands Inc
For the period ended Sep 30, 2024. Filed Dec 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.
Sep 30, 2024 · Filed Dec 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 Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the Nine Months Ended September 30, | ||||||
| · 2024 · 2023 | ||||||
| Cash flows from operating activities · · | ||||||
| Net loss | | $(15,404) | | $(15,042) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | |||
| Depreciation and amortization expense | | 4,044 | | 5,260 | ||
| Asset impairment charges | | 3,483 | | 100 | ||
| Amortization of deferred finance costs included in interest expense | | 76 | | — | ||
| Stock-based compensation and cost of licensee warrants | | 296 | | 184 | ||
| Provision for (recovery of) credit losses | | | (45) | | | 20 |
| Restructuring of certain contractual arrangements | | | — | | | 756 |
| Undistributed proportional share of net loss of equity method investees | | | 1,683 | | | 1,545 |
| Change in contingent obligation related to equity method investee | | | 6,254 | | | — |
| Gain on divestiture of Lori Goldstein brand | | | (3,801) | | | — |
| Gain on sale of limited partner ownership interest | | | — | | | (351) |
| Gain on settlement of lease liability | | | — | | | (445) |
| Changes in operating assets and liabilities: | | | | | ||
| Accounts receivable | | 591 | | (415) | ||
| Inventory | | 453 | | 1,848 | ||
| Prepaid expenses and other current and non-current assets | | (134) | | 920 | ||
| Deferred revenue | | | (180) | | | 4,676 |
| Accounts payable, accrued expenses, accrued income taxes payable, and other current liabilities | | (304) | | (1,395) | ||
| Lease-related assets and liabilities | | | (710) | | | (471) |
| Other long-term liabilities | | 391 | | — | ||
| Net cash used in operating activities | | (3,307) | | (2,810) | ||
| | | | | | | |
| Cash flows from investing activities | | | ||||
| Net proceeds from sale of assets | | | — | | | 451 |
| Purchase of property and equipment | | (112) | | (87) | ||
| Net cash (used in) provided by investing activities | | (112) | | 364 | ||
| | | | | | | |
| Cash flows from financing activities | | | ||||
| Proceeds from exercise of stock options | | | — | | | 27 |
| Proceeds from public offering and private placement transactions, net of transaction costs | | | 1,902 | | | — |
| Shares repurchased including vested restricted stock in exchange for withholding taxes | | | — | | — | |
| Payment of long-term debt | | (500) | | — | ||
| Net cash provided by financing activities | | 1,402 | | 27 | ||
| | | | | | | |
| Net decrease in cash, cash equivalents, and restricted cash | | (2,017) | | (2,419) | ||
| | | | | | | |
| Cash, cash equivalents, and restricted cash at beginning of period | | | 2,998 | | | 4,608 |
| | | | | | | |
| Cash, cash equivalents, and restricted cash at end of period | | $981 | | $2,189 | ||
| | | | | | | |
| Reconciliation to amounts on consolidated balance sheets: | | | ||||
| Cash and cash equivalents | | $242 | | $2,189 | ||
| Restricted cash (reported in other non-current assets) | | 739 | | — | ||
| Total cash, cash equivalents, and restricted cash | | $981 | | $2,189 | ||
| | | | | | | |
| Supplemental disclosure of non-cash activities: | | | | | | |
| Recognition of operating lease right-of-use asset | | $2,596 | | $— | ||
| Recognition of operating lease obligation | | $2,596 | | $— | ||
| | | | | | | |
| Supplemental disclosure of cash flow information: | | | ||||
| Cash paid during the period for interest | | $344 | | $— | ||
| Cash paid during the period for income taxes | | $— | | $16 | ||
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