XCEL BRANDS INC. (XELB) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the XELB SEC filings page.
XCEL BRANDS INC. (XELB) reported $4.9M in revenue for fiscal year 2025, down 40.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A shrinking revenue base is not covering operating overhead, leaving external financing to support operations as liquidity tightens.
Reported gross margin rose from71.9% in FY2021 to100.0% in FY2025, yet operating margin remained deeply negative at-267.9% . That divergence indicates that improved gross economics are not reaching earnings because the remaining operating cost structure is large relative to the smaller revenue base.
FY2025 operating cash flow was
Short-term liquidity weakened materially: the current ratio fell from 1.6x in FY2021 to 0.5x in FY2025. Debt-to-equity rose from 0.1x in FY2023 to 0.5x in FY2025, while FY2025 financing cash flow of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of XCEL BRANDS INC.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
XCEL BRANDS INC. held $1.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $7.0M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and XCEL BRANDS INC. scores 8/100 among other emerging companies.
XCEL BRANDS INC. had 6M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and XCEL BRANDS INC. scores 86/100 among other emerging companies.
Not available for XCEL BRANDS INC., and counted as zero in the overall score.
XCEL BRANDS INC. reported revenue of $4.9M in fiscal year 2025, against $8.3M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and XCEL BRANDS INC. scores 6/100 among other emerging companies.
XCEL BRANDS INC.'s operations used $7.0M of cash in fiscal year 2025, against $4.7M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and XCEL BRANDS INC. scores 40/100 among other emerging companies.
XCEL BRANDS INC.'s cash, cash equivalents and investments came to $1.1M at the end of fiscal year 2025, against $23.1M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and XCEL BRANDS INC. scores 10/100 among other emerging companies.
XCEL BRANDS INC. scores -4.33, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($5.9M) relative to total liabilities ($23.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
XCEL BRANDS INC. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
XCEL BRANDS INC. reported a net loss of $17.5M while operations used $7.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
XCEL BRANDS INC. reported an operating loss of $13.2M against $2.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
XCEL BRANDS INC. generated $1.1M in revenue in Q2 2026. This represents a decrease of 15.1% from the same quarter a year earlier. Against the prior quarter it is down 2.0%.
XCEL BRANDS INC.'s EBITDA was -$772K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.3% from the same quarter a year earlier. Against the prior quarter it is up 22.1%.
XCEL BRANDS INC. reported -$2.5M in net income in Q2 2026. This represents an increase of 37.9% from the same quarter a year earlier. Against the prior quarter it is up 0.5%.
XCEL BRANDS INC. earned -$0.40 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 4.8%.
Cash & Balance Sheet
XCEL BRANDS INC. held $399K in cash against $10.2M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
XCEL BRANDS INC.'s ROE was -17.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
XCEL BRANDS INC. spent $56K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 3.4% from the same quarter a year earlier. Against the prior quarter it is up 21.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
XELB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M-15.1% | $1.1M-14.1% | $1.2M-3.4% | $1.1M-41.5% | $1.3M-55.3% | $1.3M-39.0% | $1.2M-47.1% | $1.9M-27.5% |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $407K+80.9% |
| Gross Profit | N/A | N/A | N/A | $1.1M-25.7% | $1.3M-54.7% | N/A | $1.2M-42.1% | $1.5M-37.6% |
| SG&A Expenses | $1.0M+11.4% | $1.2M+0.4% | $1.3M-22.3% | $1.2M-25.0% | $912K-38.8% | $1.2M-41.0% | $1.7M-49.0% | $1.6M-53.5% |
| Operating Income | -$1.6M+4.2% | -$1.9M+13.9% | -$1.9M+69.8% | -$7.4M+18.0% | -$1.7M-638.8% | -$2.2M+64.7% | -$6.4M-14.6% | -$9.1M-68.0% |
| EBITDA | -$772K-2.3% | -$991K+23.0% | -$1.1M+81.0% | -$6.5M+19.9% | -$755K-140.8% | -$1.3M+72.1% | -$5.5M-41.1% | -$8.2M-119.2% |
| Interest Expense | $640K+40.0% | $562K+18.8% | $678K+235.6% | $470K+261.5% | $457K+226.4% | $473K+224.0% | $202K | $130K |
| Income Tax | $19K | $12K-76.0% | $0-100.0% | $25K | $0 | $50K | $220K-81.8% | $0 |
| Net Income | -$2.5M+37.9% | -$2.5M+11.0% | -$2.8M+60.8% | -$7.9M+14.3% | -$4.0M-2145.1% | -$2.8M+55.6% | -$7.1M-4.2% | -$9.2M-79.1% |
| EPS (Basic) | -$0.40+75.9% | -$0.42+64.4% | -$0.02+99.3% | -$2.02+48.5% | -$1.66-2175.0% | -$1.18+61.8% | -$3.02-762.9% | -$3.92-1407.7% |
| EPS (Diluted) | -$0.40 | -$0.42 | -$0.02 | -$2.02 | -$1.66 | -$1.18 | -$3.02 | -$3.92 |
| Diluted Shares (Avg) | 6M | 6M | N/A | 4M | 2M | 2M | N/A | 2M |
Not reported in any period shown, so not listed: R&D Expenses.
XELB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $32.5M-31.2% | $36.4M-30.6% | $38.9M-27.6% | $40.5M-25.1% | $47.2M-25.3% | $52.5M-21.4% | $53.8M-25.0% | $54.0M-28.7% |
| Current Assets | $1.5M-52.5% | $4.5M+54.4% | $3.7M-9.2% | $4.1M+16.3% | $3.2M-32.6% | $2.9M-52.1% | $4.0M-44.6% | $3.5M-57.9% |
| Cash & Equivalents | $399K-58.9% | $179K-39.9% | $1.1M-8.3% | $1.5M+517.4% | $970K+5.0% | $298K-80.8% | $1.3M-58.2% | $242K-88.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | N/A |
| Accounts Receivable | $623K-65.8% | $656K-68.8% | $956K-57.9% | $1.4M-51.8% | $1.8M-40.3% | $2.1M-41.6% | $2.3M-34.3% | $2.9M-38.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $20.8M-16.0% | $23.2M-13.2% | $23.1M-8.8% | $23.9M+25.5% | $24.7M+29.3% | $26.8M+17.0% | $25.4M+8.0% | $19.0M-6.9% |
| Current Liabilities | $5.5M+1.3% | $7.7M-26.5% | $7.5M-28.0% | $8.0M+18.0% | $5.5M-9.9% | $10.5M+69.5% | $10.4M+60.7% | $6.8M+1.9% |
| Non-Current Liabilities | $15.2M-20.9% | $15.5M-4.7% | $15.6M+4.5% | $15.9M+29.6% | $19.2M+47.6% | $16.3M-2.5% | $15.0M-12.1% | $12.3M-11.1% |
| Long-Term Debt | $10.2M-13.0% | $9.8M+16.2% | $9.5M+43.9% | $9.0M+174.1% | $11.8M+233.5% | $8.5M+126.0% | $6.6M+65.4% | $3.3M |
| Total Equity | $13.9M-43.5% | $15.3M-44.8% | $18.0M-41.0% | $18.7M-49.4% | $24.5M-46.7% | $27.7M-39.4% | $30.4M-39.2% | $36.9M-35.0% |
| Retained Earnings | -$98.7M-18.8% | -$96.2M-21.7% | -$93.7M-22.9% | -$90.9M-31.5% | -$83.0M-38.5% | -$79.0M-31.4% | -$76.2M-41.6% | -$69.2M-47.0% |
Not reported in any period shown, so not listed: Goodwill.
XELB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.9M+21.5% | -$877K+38.8% | -$1.8M-29.7% | -$1.4M-229.7% | -$2.4M-762.8% | -$1.4M+45.0% | -$1.4M+62.3% | -$424K+68.3% |
| Depreciation & Amortization | $813K-9.6% | $893K-0.8% | $898K-0.6% | $896K-1.5% | $899K-41.8% | $900K-43.4% | $903K-46.7% | $910K-45.7% |
| Stock-Based Compensation | $170K-5.6% | $104K-4.6% | N/A | $150K0.0% | $180K | $109K-24.3% | N/A | $150K |
| Capital Expenditures | N/A | N/A | $0 | $0-100.0% | -$4K | $14K | $0-100.0% | $8K+33.3% |
| Free Cash Flow | N/A | N/A | -$1.8M-29.7% | -$1.4M-223.6% | -$2.4M | -$1.4M | -$1.4M+62.4% | -$432K+67.9% |
| Investing Cash Flow | N/A | N/A | $0 | $0+100.0% | $4K | -$14K | $0+100.0% | -$8K-33.3% |
| Financing Cash Flow | -$387K-115.3% | -$754K-137.9% | $1.5M-38.7% | $1.9M+868.8% | $2.5M+1112.8% | $2.0M+4.7% | $2.4M-48.5% | -$250K |
| Share Buybacks | $56K-3.4% | $46K-20.7% | $82K | $6K | $58K | $58K | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
XELB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | 100.0%+21.3pp | 100.0%+1.3pp | N/A | 100.0%+8.8pp | 78.7%-12.8pp |
| Operating Margin | -141.4% | -164.7% | -166.8% | -665.6% | -125.2% | -164.2% | -532.9% | -474.8% |
| Net Margin | -220.9% | -217.6% | -237.8% | -706.5% | -301.9% | -210.0% | -585.9% | -481.9% |
| Return on Equity | -17.9%-1.6pp | -16.3%-6.2pp | -15.5%+7.8pp | -42.2%-17.3pp | -16.3%-16.7pp | -10.1%+3.7pp | -23.3%-9.7pp | -24.9%-15.9pp |
| Return on Assets | -7.6%+0.8pp | -6.8%-1.5pp | -7.1%+6.0pp | -19.5%-2.5pp | -8.5%-8.8pp | -5.3%+4.1pp | -13.2%-3.7pp | -17.1%-10.3pp |
| Current Ratio | 0.28-0.3x | 0.58+0.3x | 0.49+0.1x | 0.510.0x | 0.59-0.2x | 0.28-0.7x | 0.39-0.7x | 0.52-0.7x |
| Debt-to-Equity | 0.74+0.3x | 0.64+0.3x | 0.53+0.3x | 0.48+0.4x | 0.48+0.4x | 0.31+0.2x | 0.22+0.1x | 0.09-0.3x |
| Asset Turnover | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.020.0x | 0.040.0x |
| FCF Margin | N/A | N/A | -156.4% | -125.0% | -179.3% | -108.7% | -116.5% | -22.6%+28.4pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.49), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| XCEL BRANDS INC. XELB | FY2025 | $4.9M | -$17.5M | N/A | $5.9M | 25/100 |
| Neo-Concept International Group Holdings Limited NCI | FY2025 | $17.6M | $43K | 0.2% | $32.7M | 47/100 |
| PERFECT MOMENT LTD PMNT | FY2026 | $23.6M | -$7.1M | -30.2% | $9.3M | — |
| JX Luxventure Limited JXG | FY2025 | $82.9M | -$11.0M | -13.3% | $110.3M | 24/100 |
| J-Long Group Limited JL | FY2025 | $39.1M | $2.6M | 6.6% | $18.6M | 58/100 |
| LightInTheBox Holding Co., Ltd. American LITB | FY2025 | $224.3M | $8.3M | 3.7% | $61.2M | 9/100 |
Where XCEL BRANDS INC. Ranks
Frequently Asked Questions
What is XCEL BRANDS INC.'s annual revenue?
XCEL BRANDS INC. (XELB) reported $4.9M in total revenue for fiscal year 2025. This represents a -40.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is XCEL BRANDS INC.'s revenue growing?
XCEL BRANDS INC. (XELB) revenue declined by 40.2% year-over-year, from $8.3M to $4.9M in fiscal year 2025.
Is XCEL BRANDS INC. profitable?
No, XCEL BRANDS INC. (XELB) reported a net income of -$17.5M in fiscal year 2025.
What is XCEL BRANDS INC.'s EBITDA?
XCEL BRANDS INC. (XELB) had EBITDA of -$9.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does XCEL BRANDS INC. have?
As of fiscal year 2025, XCEL BRANDS INC. (XELB) had $1.1M in cash and equivalents against $9.5M in long-term debt.
What is XCEL BRANDS INC.'s gross margin?
XCEL BRANDS INC. (XELB) had a gross margin of 100.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is XCEL BRANDS INC.'s return on equity (ROE)?
XCEL BRANDS INC. (XELB) has a return on equity of -97.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is XCEL BRANDS INC.'s free cash flow?
XCEL BRANDS INC. (XELB) recorded an outflow of $7.0M in free cash flow during fiscal year 2025. This represents a -45.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is XCEL BRANDS INC.'s operating cash flow?
XCEL BRANDS INC. (XELB) recorded an outflow of $7.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are XCEL BRANDS INC.'s total assets?
XCEL BRANDS INC. (XELB) had $38.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are XCEL BRANDS INC.'s capital expenditures?
XCEL BRANDS INC. (XELB) invested $10K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is XCEL BRANDS INC.'s current ratio?
XCEL BRANDS INC. (XELB) had a current ratio of 0.49 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is XCEL BRANDS INC.'s debt-to-equity ratio?
XCEL BRANDS INC. (XELB) had a debt-to-equity ratio of 0.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is XCEL BRANDS INC.'s return on assets (ROA)?
XCEL BRANDS INC. (XELB) had a return on assets of -44.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is XCEL BRANDS INC.'s P/E ratio?
XCEL BRANDS INC. (XELB) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $5.9M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is XCEL BRANDS INC.'s price-to-sales ratio?
XCEL BRANDS INC. (XELB) trades at 1.3x sales, its market capitalization divided by revenue of $4.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $5.9M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does XCEL BRANDS INC.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, XCEL BRANDS INC. (XELB) held $1.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $7.0M over that year. Dividing the one by the other, the reported balance equals about 2 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is XCEL BRANDS INC.'s Altman Z-Score?
XCEL BRANDS INC. (XELB) has an Altman Z-Score of -4.33, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is XCEL BRANDS INC.'s Piotroski F-Score?
XCEL BRANDS INC. (XELB) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are XCEL BRANDS INC.'s earnings high quality?
XCEL BRANDS INC. (XELB) reported a net loss of $17.5M while operations used $7.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can XCEL BRANDS INC. cover its interest payments?
XCEL BRANDS INC. (XELB) reported an operating loss of $13.2M against $2.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is XCEL BRANDS INC.?
XCEL BRANDS INC. (XELB) scores 25 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.