XCel Brands Inc

For the period ended Mar 31, 2025. Filed Jun 4, 2025.

About this filing

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, 2025 · Filed Jun 4, 2025

XELB$0.43+6.7%Stored close · as of Nov 10, 2026

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Contents

Unaudited Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)


· · For the Three Months Ended ·
· · March 31, ·
· 2025 · 2024 ·
Revenues · · · ·
Net licensing revenue	$1,332	$2,184

Direct operating costs and expenses
Salaries, benefits and employment taxes	1,086	1,933
Other selling, general and administrative expenses	1,197	2,029
Total direct operating costs and expenses	2,283	3,962

Operating loss before other operating costs and expenses	(951)	(1,778)

Other operating costs and expenses
Depreciation and amortization	900	1,589
Asset impairment charges	—	2,295
Loss from equity method investments	576	533
Change in contingent reduction in equity ownership of IM Topco, LLC	(240)	—

Operating loss	(2,187)	(6,195)

Interest and finance expense (income)
Interest expense	473	146
Other interest and finance charges (income), net	87	4
Interest and finance expense (income), net	560	150

Loss before income taxes	(2,747)	(6,345)

Income tax provision	50	—

Net loss	(2,797)	(6,345)
Net loss attributable to noncontrolling interest	—	(51)
Net loss attributable to Xcel Brands, Inc. stockholders	$(2,797)	$(6,294)

Loss per common share attributable to Xcel Brands, Inc. stockholders:
Basic and diluted net loss per share (1)	$(1.18)	$(3.09)
Weighted average number of common shares outstanding:
Basic and diluted weighted average common shares outstanding (1)	2,373,583	2,037,397

(1)	Amounts presented for 2024, including the weighted average number of shares outstanding and the resulting loss per share information have been retroactively adjusted in order to give effect to the Company’s March 24, 2025 1-for-10 reverse stock split. See Note 1 and Note 7.

ContentsView on SEC.gov

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