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 Operations
(in thousands, except share and per share data)
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · For the Three Months Ended · · For the Nine Months Ended | ||||||||||||
| · · September 30, · · September 30, | ||||||||||||
| · 2024 · 2023 · 2024 · 2023 | ||||||||||||
| Revenues · · · · · | ||||||||||||
| Net licensing revenue | | $1,505 | | $2,381 | | $6,515 | | $7,031 | ||||
| Net sales | | 407 | | 256 | | 535 | | 8,437 | ||||
| Net revenue | | 1,912 | | 2,637 | | 7,050 | | 15,468 | ||||
| Cost of goods sold | | 407 | | 225 | | 445 | | 6,718 | ||||
| Gross profit | | 1,505 | | 2,412 | | 6,605 | | 8,750 | ||||
| | | | | | | | | | | | | |
| Direct operating costs and expenses | | | | | ||||||||
| Salaries, benefits and employment taxes | | 1,208 | | 2,141 | | 4,771 | | 7,847 | ||||
| Other selling, general and administrative expenses | | 1,618 | | 3,482 | | 5,137 | | 9,918 | ||||
| Total direct operating costs and expenses | | 2,826 | | 5,623 | | 9,908 | | 17,765 | ||||
| | | | | | | | | | | | | |
| Operating loss before other operating costs and expenses (income) | | | (1,321) | | | (3,211) | | | (3,303) | | | (9,015) |
| | | | | | | | | | | | | |
| Other operating costs and expenses (income) | | | | | | | | | | | | |
| Depreciation and amortization | | 910 | | 1,677 | | 4,044 | | 5,260 | ||||
| Asset impairment charges | | | — | | | — | | | 3,483 | | | — |
| Loss from equity method investments | | | 593 | | | 515 | | | 1,683 | | | 1,545 |
| Reduction in equity ownership of IM TopCo, LLC | | | 6,254 | | | — | | | 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) |
| | | | | | | | | | | | | |
| Operating loss | | (9,078) | | (5,403) | | (14,966) | | (15,024) | ||||
| | | | | | | | | | | | | |
| Interest and finance expense (income), net | | 142 | | — | | 438 | | 18 | ||||
| | | | | | | | | | | | | |
| Loss before income taxes | | (9,220) | | (5,403) | | (15,404) | | (15,042) | ||||
| | | | | | | | | | | | | |
| Income tax benefit | | — | | — | | — | | — | ||||
| | | | | | | | | | | | | |
| Net loss | | | (9,220) | | | (5,403) | | | (15,404) | | | (15,042) |
| Net loss attributable to noncontrolling interest | | | (7) | | | (259) | | | (92) | | | (787) |
| Net loss attributable to Xcel Brands, Inc. stockholders | | $(9,213) | | $(5,144) | | $(15,312) | | $(14,255) | ||||
| | | | | | | | | | | | | |
| Earnings (loss) per common share attributable to Xcel Brands, Inc. stockholders: | | | | | ||||||||
| Basic earnings (loss) per share | | $(0.39) | | $(0.26) | | $(0.68) | | $(0.72) | ||||
| Diluted earnings (loss) per share | | $(0.39) | | $(0.26) | | $(0.68) | | $(0.72) | ||||
| Weighted average number of common shares outstanding: | | | | | ||||||||
| Basic weighted average common shares outstanding | | 23,522,453 | | 19,749,317 | | 22,466,737 | | 19,683,525 | ||||
| Diluted weighted average common shares outstanding | | 23,522,453 | | 19,749,317 | | 22,466,737 | | 19,683,525 | ||||
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