XCel Brands, Inc.

For the period ended Jun 30, 2025. Filed Aug 14, 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.

Jun 30, 2025 · Filed Aug 14, 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 · · For the Six Months Ended ·
· · June 30, · · June 30, ·
· 2025 · 2024 · 2025 · 2024 ·
Revenues · · · · · ·
Net licensing revenue	$1,321	$2,826	$2,653	$5,010
Net sales	—	128	—	128
Net revenue	1,321	2,954	2,653	5,138
Cost of goods sold	—	38	—	38
Gross profit	1,321	2,916	2,653	5,100

Direct operating costs and expenses
Salaries, benefits and employment taxes	984	1,630	2,070	3,563
Other selling, general and administrative expenses	912	1,490	2,109	3,519
Total direct operating costs and expenses	1,896	3,120	4,179	7,082

Operating loss before other operating costs and expenses (income)	(575)	(204)	(1,526)	(1,982)

Other operating costs and expenses (income)
Depreciation and amortization	899	1,545	1,799	3,134
Asset impairment charges	—	1,188	—	3,483
Loss from equity method investments	180	557	516	1,090
Gain on divestiture of Lori Goldstein Brand	—	(3,801)	—	(3,801)

Operating (loss) income	(1,654)	307	(3,841)	(5,888)

Interest and finance expense (income)
Interest expense	457	139	930	285
Other interest and finance charges (income), net	30	7	117	11
Loss on early extinguishment of debt	1,850	—	1,850	—
Interest and finance expense (income), net	2,337	146	2,897	296

(Loss) income before income taxes	(3,991)	161	(6,738)	(6,184)

Income tax provision (benefit)	—	—	50	—

Net (loss) income	(3,991)	161	(6,788)	(6,184)
Net loss attributable to noncontrolling interest	(3)	(34)	(3)	(85)
Net (loss) income attributable to Xcel Brands, Inc. stockholders	$(3,988)	$195	$(6,785)	$(6,099)

(Loss) earnings per common share attributable to Xcel Brands, Inc. stockholders:
Basic (loss) earnings per share (1)	$(1.66)	$0.08	$(2.84)	$(2.78)
Diluted (loss) earnings per share (1)	$(1.66)	$0.08	$(2.84)	$(2.78)
Weighted average number of common shares outstanding:
Basic weighted average common shares outstanding (1)	2,403,639	2,349,014	2,388,694	2,193,206
Diluted weighted average common shares outstanding (1)	2,403,639	2,353,879	2,388,694	2,193,206

(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

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.