XCel Brands, Inc. XELB
Xcel Brands, Inc. (the "Company," "Xcel," "we," "us," or "our") is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce.
● the Halston brands (the "Halston Brand"), the Judith Ripka brands (the "Ripka Brand"), and the C Wonder brands (the "C Wonder Brand"), which are wholly owned by the Company;
● the Longaberger by Shannon Doherty brand (the "Longaberger Brand"), which we manage through our 50% ownership interest in Longaberger Licensing, LLC;
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.9M | $8.3M | $17.8M | $25.8M | $37.9M | $29.4M | $41.7M | $35.5M | $31.7M | $32.7M |
| Cost of revenue | — | $445.0K | $6.9M | $8.0M | $10.7M | $5.5M | $10.3M | $2.7M | — | $196.0K |
| Gross profit | $4.9M | $7.8M | $10.8M | $17.8M | $27.3M | $24.0M | $31.5M | $32.8M | $31.7M | $32.6M |
| SG&A | $4.6M | $6.8M | $13.3M | $16.3M | $14.4M | $9.7M | $5.6M | $5.2M | $4.7M | $5.7M |
| Total operating expenses | $8.6M | $12.8M | $23.2M | $620.0K | $39.8M | $40.4M | $36.9M | $28.8M | $40.9M | $31.2M |
| Operating income | -$13.2M | -$21.4M | -$20.6M | -$2.3M | -$12.6M | -$16.4M | -$2.6M | $3.9M | -$9.2M | $4.9M |
| Interest expense | $2.1M | $618.0K | $113.0K | $3.5M | $3.6M | $1.2M | $1.3M | — | — | — |
| Pre-tax income | -$17.5M | -$22.3M | -$21.0M | -$5.8M | -$16.1M | -$17.6M | -$4.1M | $2.9M | -$10.6M | $3.0M |
| Income tax | $75.0K | $220.0K | $1.2M | $431.0K | $3.1M | $4.5M | $642.0K | $1.8M | $447.0K | $315.0K |
| Net income | -$17.5M | -$22.4M | -$21.1M | -$4.0M | -$12.2M | -$12.9M | -$3.4M | $1.1M | -$10.1M | $2.7M |
| EPS, basic | -5.08 | -9.84 | -10.68 | -0.20 | -0.63 | -0.68 | -0.18 | 0.06 | -0.55 | — |
| EPS, diluted | -5.08 | -9.84 | -10.68 | -0.20 | -0.63 | -0.68 | -0.18 | 0.06 | -0.55 | — |
| Shares, diluted (wtd. avg.) | $3.4M | $2.3M | $2.0M | $19.6M | $19.5M | $19.1M | $18.9M | $18.3M | $18.5M | $19.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.1M | $1.3M | $3.0M | $4.6M | $5.2M | $6.1M | $5.8M | $10.3M | $11.7M | $15.6M |
| Receivables | $956.0K | $2.3M | $3.5M | $5.1M | $7.6M | $8.9M | $10.6M | $11.0M | $8.5M | $7.0M |
| Inventory | — | $0 | $453.0K | $2.8M | $3.4M | $1.2M | $899.0K | $2.0M | $0 | — |
| Total current assets | $3.7M | $4.0M | $7.3M | $14.0M | $17.2M | $16.1M | $17.6M | $23.9M | $19.3M | $21.9M |
| Property, plant and equipment | $130.0K | $182.0K | $634.0K | $1.4M | $2.5M | $3.4M | $3.7M | $3.2M | $2.4M | $2.6M |
| Goodwill | — | — | — | — | — | — | — | — | $0 | $12.4M |
| Other intangibles | $31.2M | $34.8M | $41.5M | $47.7M | $98.3M | $93.5M | $111.1M | $109.0M | $110.1M | $111.2M |
| Total assets | $38.9M | $53.8M | $71.7M | $88.9M | $125.8M | $123.1M | $143.2M | $138.1M | $135.0M | $151.1M |
| Accounts payable | $1.1M | $2.7M | $2.2M | $3.9M | $6.2M | $4.4M | $4.4M | $5.1M | $1.3M | $1.5M |
| Short-term debt | $3.2M | — | $750.0K | — | $2.5M | $2.8M | $2.2M | $5.3M | $5.5M | $6.4M |
| Total current liabilities | $7.5M | $10.4M | $6.5M | $6.6M | $10.5M | $10.3M | $9.8M | $16.1M | $9.1M | $10.4M |
| Long-term debt | $9.5M | $6.6M | $4.0M | — | $25.5M | $13.8M | $16.6M | $11.3M | $19.4M | $25.5M |
| Total liabilities | $23.1M | $25.4M | $23.5M | $18.8M | $50.8M | $36.8M | $44.7M | $38.2M | $37.3M | $44.9M |
| Retained earnings | -$93.7M | -$76.2M | -$53.8M | -$32.8M | -$28.8M | -$16.6M | -$3.7M | -$233.0K | -$1.3M | $8.8M |
| Total equity | $18.0M | $30.4M | $48.2M | $70.1M | $74.9M | $86.3M | $98.5M | $99.9M | $97.7M | $106.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.0M | -$4.7M | -$6.5M | -$14.2M | -$6.6M | $3.2M | $3.5M | $6.6M | $4.7M | $7.9M |
| Depreciation and amortisation | $3.6M | $4.9M | $7.0M | $7.3M | $6.8M | $5.5M | $3.9M | $1.8M | $1.6M | $1.6M |
| Stock-based compensation | $570.0K | $403.0K | $242.0K | $620.0K | $720.0K | $850.0K | $976.0K | $1.8M | $3.2M | $4.7M |
| Capital expenditure | $10.0K | $112.0K | $100.0K | $265.0K | $1.1M | $748.0K | $1.1M | $1.5M | $208.0K | $2.2M |
| Investing cash flow | -$10.0K | -$112.0K | $209.0K | $44.5M | -$4.8M | -$702.0K | -$10.3M | -$1.5M | -$238.0K | -$2.8M |
| Financing cash flow | $7.9M | $3.8M | $4.7M | -$31.0M | $10.5M | -$2.2M | $2.3M | -$6.5M | -$8.4M | -$7.5M |
| Buybacks | $204.0K | $107.0K | — | $442.0K | $16.0K | $190.0K | $174.0K | $1.0M | $1.2M | $1.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-091375.
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