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XCEL BRANDS INC. (symbol: XELB) is a pioneering company in the acquisition, design, licensing, marketing, and retail sales of consumer brands. Headquartered in New York City, Xcel Brands is renowned for its innovative omnichannel sales strategy, which integrates interactive media, brick-and-mortar retail, and e-commerce. The company’s brand portfolio includes iconic names like Isaac Mizrahi, Judith Ripka, H Halston, and C. Wonder, among others.
Founded in 2011, Xcel Brands has revolutionized the retail industry by merging shopping, entertainment, and social media. The company is deeply involved in design, merchandising, planning, sourcing, production, licensing, marketing, and brand development. It offers a wide range of consumer products, including apparel, footwear, accessories, jewelry, and home goods.
Recent Achievements and Current Projects:
- As of January 2024, Xcel Brands announced a 30% investment in ORME, a groundbreaking short-form video (SFV) marketplace designed to transform social commerce.
- TWRHLL by Christie Brinkley is set to launch exclusively on HSN in Spring 2024, showcasing a collection of apparel reflecting Brinkley’s iconic style.
- A partnership with Crayola led to the launch of the Longaberger x Crayola Home Accessories Collection, bringing vibrant and creative designs to home decor.
With a team of over 50 designers and social media-focused marketing executives, Xcel maintains control over product quality and promotion across all licensed product categories and distribution channels. The company's strategy of leveraging live streaming, social commerce, and digital platforms has generated over $4 billion in retail sales.
Led by a seasoned executive team with extensive experience in retailing, licensing, design, and marketing, Xcel Brands continues to elevate branded consumer products through innovative strategies and partnerships.
Xcel Brands (NASDAQ: XELB) reported Q3 2024 financial results with a net loss of $9.2 million, including a $6.3 million non-cash charge for contingent obligation, compared to a $5.1 million loss in Q3 2023. Total revenue decreased 28% to $1.9 million. The company's non-GAAP net loss improved by 56% to $1.3 million, while Adjusted EBITDA was negative $1.0 million, showing improvement from negative $1.4 million in the prior year quarter.
Direct Operating Costs decreased by 50% to $2.8 million. The company secured a new $10 million term loan in November 2024, providing approximately $5 million in additional liquidity. Revenue decline was primarily due to the Lori Goldstein brand divestiture and hurricane-related show cancellations at their interactive TV retailer's location.
Xcel Brands (NASDAQ: XELB) has scheduled its third quarter 2024 financial results announcement for December 20, 2024. The company will host a conference call with investors on December 23, 2024, at 5:00 p.m. ET. Investors can access the conference call through a webcast on Xcel's website or by dialing 800-715-9871 or 646-307-1963 using Conference ID 9838743. A replay of the webcast will be available on the company's website.
Xcel Brands (NASDAQ: XELB) has received a delinquency notification from Nasdaq on November 25, 2024, for failing to file its Q3 2024 Form 10-Q on time. This non-compliance with Nasdaq Listing Rule 5250(c)(1) does not immediately affect the company's listing status. Xcel must submit a compliance plan within 60 days, and if accepted, Nasdaq may grant an extension until May 19, 2025, to regain compliance. The company plans to file the Form 10-Q within the 60-day window to maintain its listing requirements.
Xcel Brands (NASDAQ: XELB) reported its Q2 2024 financial results, showing a net income of $0.2 million compared to a $3.5 million loss in Q2 2023. The company's net licensing revenues grew 16% year-over-year, driven by new licenses and brand launches. Direct Operating Costs decreased by 40% to $3.1 million. Adjusted EBITDA approached break-even, improving from negative $1.3 million in Q2 2023.
Total revenue for Q2 2024 was $3.0 million, down 56% from Q2 2023, primarily due to the discontinuation of wholesale businesses. The company's balance sheet showed stockholders' equity of $44 million and cash and cash equivalents of $0.9 million as of June 30, 2024.
Xcel Brands, Inc. (NASDAQ: XELB) has announced that it will report its second quarter 2024 financial results on August 14, 2024. The company will hold a conference call with the investment community on the same day at 9:30 a.m. ET. Investors can access the webcast of the conference call live on the Investor Relations section of Xcel's website or directly through a provided link. For those unable to access the webcast, dial-in options are available. A replay of the webcast will be made available on Xcel's website for those who cannot attend the live call.
Xcel Brands, a media and consumer products company, announced its Q1 2024 results. Net licensing revenues remained steady at $2.2 million. The company saw a significant reduction in direct operating costs and expenses, down 43% to $4 million. However, Xcel reported a GAAP net loss of $6.3 million, up from a $6 million loss in the same period last year.
The company attributed the revenue decline primarily to the discontinuation of its wholesale businesses under Project Fundamentals. Despite these challenges, Xcel's adjusted EBITDA improved to a negative $1.6 million, compared to negative $3 million last year.
The balance sheet reflected stockholders' equity of approximately $44 million and cash equivalents of $1.6 million. The company's term debt stood at $4.7 million, with $1 million as short-term debt. CEO Robert D'Loren expressed optimism regarding the company's restructuring and future growth.
Xcel Brands (NASDAQ: XELB) announced that it will report its first quarter 2024 financial results on May 20, 2024.
The company has scheduled a conference call for the same day at 5:00 p.m. ET to discuss the earnings. The call will be accessible through a live webcast on Xcel's Investor Relations website or by dialing specified phone numbers with Conference ID 3975904.
A replay of the webcast will also be available on the company's website.
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