XCel Brands Inc

For the period ended Dec 31, 2024. Filed May 28, 2025.

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.

FY2024 · Filed May 28, 2025

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, ·
· 2024 · 2023 ·
Revenues · · · ·
Net licensing revenue	$7,912	$9,156
Net sales	347	8,599
Net revenue	8,259	17,755
Cost of goods sold	445	6,918
Gross profit	7,814	10,837

Direct operating costs and expenses
Salaries, benefits and employment taxes	5,916	9,910
Other selling, general and administrative expenses	6,842	13,261
Total direct operating costs and expenses	12,758	23,171

Operating loss before other operating costs and expenses (income)	(4,944)	(12,334)

Other operating costs and expenses (income)
Depreciation and amortization	4,947	6,954
Asset impairment charges	3,483	100
Loss from equity method investments	7,623	2,060
Contingent reduction in equity ownership of IM Topco, LLC	4,213	—
Gain on divestiture of Lori Goldstein Brand	(3,801)	—
Gain on sale of limited partner ownership interest	—	(359)
Gain on settlement of lease liability	—	(445)

Operating loss	(21,409)	(20,644)

Interest and finance expense (income)
Interest expense	618	113
Other interest and finance charges (income), net	26	268
Loss on early extinguishment of debt	287	—
Interest and finance expense (income), net	931	381

Loss before income taxes	(22,340)	(21,025)

Income tax provision	220	1,212

Net loss	(22,560)	(22,237)
Net loss attributable to noncontrolling interest	(165)	(1,185)
Net loss attributable to Xcel Brands, Inc. stockholders	$(22,395)	$(21,052)

Loss per common share attributable to Xcel Brands, Inc. stockholders:
Basic and diluted net loss per share (1)	$(9.84)	$(10.68)
Weighted average number of common shares outstanding:
Basic and diluted weighted average common shares outstanding (1)	2,275,332	1,971,072

(1)	Weighted average shares outstanding and per share information have been retroactively adjusted in order to give effect to the Company’s 1-for-10 reverse stock split. See Note 2 and Note 12.

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.