Xcel Brands, Inc. Announces Fourth Quarter and Year-End 2024 Financial Results, Shows Improvements as a Result of Its “Project Fundamentals” Restructuring Program
- Non-GAAP net loss improved by 53% in Q4 2024 to $1.6 million
- Full-year non-GAAP net loss improved by 58% to $5.1 million
- Adjusted EBITDA improved by 40% year-over-year
- Social media following grew significantly from 5M to 45M followers
- Successfully refinanced term loan debt, increasing liquidity by $3.0M
- Q4 2024 revenue declined 47% year-over-year to $1.2M
- Full-year revenue decreased 53% to $8.3M
- Net loss increased to $7.1M in Q4 2024 from $6.8M in Q4 2023
- Full-year net loss widened to $22.4M from $21.1M
- Significant debt burden with $6.6M in long-term debt
Insights
Xcel shows improved non-GAAP metrics despite continued losses, with restructuring efforts yielding 40% better EBITDA while social media growth signals potential turnaround.
Xcel Brands presents a complex financial picture in its Q4 and 2024 results. While the company still operates at a loss, there are notable improvements in its non-GAAP metrics that suggest the "Project Fundamentals" restructuring program is gaining traction. The 31% improvement in Q4 Adjusted EBITDA (from -$1.2M to -$0.8M) and 40% improvement for the full year (from -$5.7M to -$3.5M) demonstrate meaningful progress in reducing operational losses.
The revenue decline of 47% for Q4 and 53% for the full year is significant but largely expected due to the strategic divestiture of the Lori Goldstein brand and the company's deliberate exit from wholesale operations. This appears to be part of a calculated pivot toward a more asset-light licensing model.
The balance sheet shows $28 million in stockholders' equity, with only $1.3 million in unrestricted cash and a working capital position of approximately $1 million. This thin liquidity position explains the significance of the April 2025 debt refinancing, which added $3 million in liquidity—a crucial buffer for a company still operating at a loss.
CEO D'Loren's focus on social media growth (from 5 million to 45 million followers) highlights the company's strategic pivot toward digital engagement as a growth driver. For a company specializing in livestream shopping and social commerce, this 9x increase in social media following represents a potentially valuable asset for future monetization, especially as they target reaching 100 million followers.
The numerous one-time items affecting 2024 results—including a $3.8 million gain on brand divestiture offset by charges related to office space ($3.5M) and IM Topco obligations ($10M)—make GAAP results less reflective of operational performance than non-GAAP metrics. The significant 58% improvement in non-GAAP net loss (from -$12.2M to -$5.1M) suggests substantial progress in addressing fundamental business challenges despite continued headwinds.
- Fourth quarter 2024 net loss of
$7.1 million , compared with a net loss of$6.8 million for the prior year quarter. - Net loss on a non-GAAP basis was
$1.6 million for the fourth quarter 2024, representing a53% improvement from the fourth quarter of 2023 non-GAAP net loss of$3.5 million . - Net loss on a non-GAAP basis was
$5.1 million for the full year 2024, representing a58% improvement from 2023 non-GAAP net loss of$12.2 million . - Adjusted EBITDA for the fourth quarter 2024 was negative
$0.8 million , compared with Adjusted EBITDA of negative$1.2 million for the fourth quarter 2023, representing a31% improvement. - Adjusted EBITDA for the full year 2024 was negative
$3.5 million , compared with Adjusted EBITDA of negative$5.7 million for 2023, representing a40% improvement.
NEW YORK, May 28, 2025 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), a media and consumer products company with significant expertise in livestream shopping and social commerce, today announced its financial results for the quarter ended March 31, 2025, and the quarter and fiscal year ended December 31, 2024.
Robert W. D'Loren, Chairman and Chief Executive Officer of Xcel commented, “Despite headwinds in the industry from tariffs and other external forces, I am extremely pleased with where we are headed given our recent new brand launches. The social media following of our brand portfolio has grown from 5 million to 45 million followers over the past five months. We believe this positions us well to drive new business growth and is a significant step toward our goal of reaching 100 million followers across our brands”.
Fourth Quarter 2024 Financial Results
Total revenue for the fourth quarter of 2024 was
Net loss attributable to Xcel Brands stockholders for the quarter was approximately
After adjusting for certain cash and non-cash items, results on a non-GAAP basis were a net loss of approximately
Adjusted EBITDA also improved on a year-over-year basis, from negative
Full Year 2024 Financial Results
Total revenue for the fiscal year was
Net loss attributable to Xcel Brands stockholders for the year ended December 31, 2024, was approximately
After adjusting for certain cash and non-cash items, results on a non-GAAP basis were a net loss of approximately
Adjusted EBITDA improved significantly on a year-over-year basis, from negative
Balance Sheet
The Company's balance sheet at December 31, 2024, reflected stockholders' equity of approximately
In April 2025, the Company refinanced its term loan debt, resulting in a net increase of approximately
Conference Call and Webcast
The Company will host a conference call with members of the executive management team to discuss these results and together with the first quarter of 2025 results. Details of the date and time of this call will be released shortly
About Xcel Brands
Xcel Brands, Inc. (NASDAQ: XELB) 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. Xcel owns the Halston, Judith Ripka, and C Wonder brands, as well as the TowerHill by Christie Brinkley co-branded collaboration and LB70 by Lloyd Boston co-branded collaboration, and also holds noncontrolling interests in the Isaac Mizrahi brand and Orme Live. Xcel also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing, LLC. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retailers, and e-commerce channels to be everywhere its customers shop. The company’s brands have generated in excess of
Forward Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release, including statements regarding future events, our future financial performance, business strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "ongoing," "could," "estimates," "expects," "intends," "may," "appears," "suggests," "future," "likely," "goal," "plans," "potential," "projects," "predicts," "seeks," "should," "would," "guidance," "confident" or "will" or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding our anticipated revenue, expenses, profitability, strategic plans and capital needs. These statements are based on information available to us on the date hereof and our current expectations, estimates and projections and are not guarantees of future performance. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, including, without limitation, the risks discussed in the "Risk Factors" section and elsewhere in the Company's Annual Report on form 10-K for the year ended December 31, 2023 and its other filings with the SEC, which may cause our or our industry's actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time, and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.
For further information please contact:
Seth Burroughs
Xcel Brands
sburroughs@xcelbrands.com
Non-GAAP net income and non-GAAP diluted EPS are non-GAAP unaudited terms. We define non-GAAP net income as net income (loss) attributable to Xcel Brands, Inc. stockholders, exclusive of asset impairment charges, amortization of trademarks, income (loss) from equity method investments, reduction in equity ownership and carrying value of IM Topco, LLC, stock-based compensation and cost of licensee warrants, loss on extinguishment of debt, gains on sales of assets and investments, gain on lease termination, and income taxes. Non-GAAP net income and non-GAAP diluted EPS measures do not include the tax effect of the aforementioned adjusting items, due to the nature of these items and the Company’s tax strategy.
Adjusted EBITDA is a non-GAAP unaudited measure, which we define as net (loss) income attributable to Xcel Brands, Inc. stockholders before interest and finance expenses (including loss on extinguishment of debt, if any), accretion of lease liability for exited leases, income taxes, other state and local franchise taxes, depreciation and amortization, income (loss) from equity method investments, reduction in equity ownership and carrying value of IM Topco, LLC, asset impairment charges, stock-based compensation and cost of licensee warrants, gains on sales of assets and investments, gain on lease termination, and costs associated with restructuring of operations. Costs associated with restructuring of operations include operating losses generated by certain of our businesses that have been restructured or discontinued (i.e., wholesale apparel and fine jewelry), as well as non-cash charges associated with the restructuring of certain contractual arrangements.
Management uses non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA as measures of operating performance to assist in comparing performance from period to period on a consistent basis and to identify business trends relating to our results of operations. Management believes non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are also useful because these measures adjust for certain costs and other events that management believes are not representative of our core business operating results, and thus these non-GAAP measures provide supplemental information to assist investors in evaluating our financial results.
Non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA should not be considered in isolation or as alternatives to net income, earnings per share, or any other measure of financial performance calculated and presented in accordance with GAAP. Given that non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are financial measures not deemed to be in accordance with GAAP and are susceptible to varying calculations, our non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including companies in our industry, because other companies may calculate these measures in a different manner than we do. In evaluating non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA, you should be aware that in the future we may or may not incur expenses similar to some of the adjustments in this document. Our presentation of non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA does not imply that our future results will be unaffected by these expenses or any unusual or non-recurring items. When evaluating our performance, you should consider non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA alongside other financial performance measures, including our net income and other GAAP results, and not rely on any single financial measure.
| Xcel Brands, Inc. and Subsidiaries | ||||||||||||||||
| Unaudited Consolidated Statements of Operations | ||||||||||||||||
| (in thousands, except share and per share data) | ||||||||||||||||
| For the Three Months Ended | For the Twelve Months Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenues | ||||||||||||||||
| Net licensing revenue | $ | 1,397 | $ | 2,125 | $ | 7,912 | $ | 9,156 | ||||||||
| Net sales | -188 | 162 | 347 | 8,599 | ||||||||||||
| Net revenue | 1,209 | 2,287 | 8,259 | 17,755 | ||||||||||||
| Cost of goods sold (sales) | 0 | 200 | 445 | 6,918 | ||||||||||||
| Gross profit | 1,209 | 2,087 | 7,814 | 10,837 | ||||||||||||
| Operating costs and expenses | ||||||||||||||||
| Salaries, benefits and employment taxes | 1,145 | 2,063 | 5,916 | 9,910 | ||||||||||||
| Other selling, general and administrative expenses | 1,705 | 3,442 | 6,842 | 13,261 | ||||||||||||
| Total direct operating costs and expenses | 2,850 | 5,505 | 12,758 | 23,171 | ||||||||||||
| Other expense, including non-cash expenses | ||||||||||||||||
| Depreciation and amortization | 903 | 1,694 | 4,947 | 6,954 | ||||||||||||
| Asset impairment charges | - | - | 3,483 | 100 | ||||||||||||
| Loss from equity method investment | 5,940 | 515 | 7,623 | 2,060 | ||||||||||||
| Contingent reduction in equity ownership of IM Topco, LLC | -2,041 | 4,213 | ||||||||||||||
| Gain on sale of limited partner ownership | - | (8 | ) | - | (359 | ) | ||||||||||
| Gain on Lease Liability | - | - | (445 | ) | ||||||||||||
| Gain on divestiture of Lori Goldstein Brand | - | - | (3,801 | ) | - | |||||||||||
| Operating loss | (6,443 | ) | (5,619 | ) | (21,409 | ) | (20,644 | ) | ||||||||
| Interest and finance expense | ||||||||||||||||
| Interest expense | 198 | 99 | 618 | 113 | ||||||||||||
| Other interest and finance charges | 8 | 265 | 26 | 268 | ||||||||||||
| Loss on extinguishment of debt | 287 | - | 287 | - | ||||||||||||
| Total interest and finance expense | 493 | 364 | 931 | 381 | ||||||||||||
| Loss before income taxes | (6,936 | ) | (5,983 | ) | (22,340 | ) | (21,025 | ) | ||||||||
| Income tax provision (benefit) | 220 | 1,212 | 220 | 1,212 | ||||||||||||
| Net loss | (7,156 | ) | (7,195 | ) | (22,560 | ) | (22,237 | ) | ||||||||
| Less: Net loss attributable to noncontrolling interest | (73 | ) | (398 | ) | (165 | ) | (1,185 | ) | ||||||||
| Net loss attributable to Xcel Brands, Inc. stockholders | $ | (7,083 | ) | $ | (6,797 | ) | $ | (22,395 | ) | $ | (21,052 | ) | ||||
| Loss per common share attributed to Xcel Brands, Inc. stockholders: | ||||||||||||||||
| Basic net loss per share | $ | (3.00 | ) | $ | (3.43 | ) | $ | (9.84 | ) | $ | (10.68 | ) | ||||
| Weighted average number of common shares outstanding: | ||||||||||||||||
| Basic and diluted weighted average common shares outstanding | 2,361,028 | 1,979,413 | 2,275,332 | 1,971,072 | ||||||||||||
| Xcel Brands, Inc. and Subsidiaries | ||||||||
| Unaudited Consolidated Balance Sheets | ||||||||
| (in thousands, except share and per share data) | ||||||||
| December 31, 2024 | December 31, 2023 | |||||||
| Assets | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 1,254 | $ | 2,998 | ||||
| Accounts receivable, net | 2,269 | 3,454 | ||||||
| Inventory | 0 | 453 | ||||||
| Prepaid expenses and other current assets | 520 | 398 | ||||||
| Total current assets | 4,043 | 7,303 | ||||||
| Property and equipment, net | 182 | 634 | ||||||
| Operating lease right-of-use assets | 3,751 | 4,453 | ||||||
| Trademarks and other intangibles, net | 34,759 | 41,520 | ||||||
| Equity method investment | 10,110 | 17,735 | ||||||
| Other assets | 911 | 15 | ||||||
| Total non-current assets | 49,713 | 64,357 | ||||||
| Total Assets | $ | 53,756 | $ | 71,660 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable, accrued expenses and other current liabilities | $ | 2,734 | $ | 2,236 | ||||
| Deferred revenue | 1,380 | 889 | ||||||
| Accrued income taxes payable | 554 | 372 | ||||||
| Current portion of operating lease obligation | 1,513 | 1,258 | ||||||
| Current portion of long-term debt | - | 750 | ||||||
| Current portion of contingent obligations | 4,213 | 964 | ||||||
| Total current liabilities | 10,394 | 6,469 | ||||||
| Long-Term Liabilities: | ||||||||
| Deferred revenue | 2,667 | 3,556 | ||||||
| Long-term portion of operating lease obligation | 5,297 | 4,021 | ||||||
| Long-term debt, net, less current portion | 6,569 | 3,971 | ||||||
| Current portion of contingent obligations | - | 5,432 | ||||||
| Other long-term liabilities | 431 | 40 | ||||||
| Total long-term liabilities | 14,964 | 17,020 | ||||||
| Total Liabilities | 25,358 | 23,489 | ||||||
| Commitments and Contingencies | ||||||||
| Stockholders' Equity: | ||||||||
| Preferred stock, $.001 par value, 1,000,000 shares authorized, none issued and outstanding | - | - | ||||||
| Common stock, $.001 par value, 50,000,000 shares authorized, and 19,795,053 and 19,624,860 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | 2 | 2 | ||||||
| Paid-in capital | 106,666 | 103,879 | ||||||
| Accumulated deficit | (76,244 | ) | (53,849 | ) | ||||
| Total Xcel Brands, Inc. stockholders' equity | 30,424 | 50,032 | ||||||
| Noncontrolling interest | (2,026 | ) | (1,861 | ) | ||||
| Total Stockholders' Equity | 28,398 | 48,171 | ||||||
| Total Liabilities and Stockholders' Equity | $ | 53,756 | $ | 71,660 | ||||
| Xcel Brands, Inc. and Subsidiaries | |||||||||
| Unaudited Consolidated Statements of Cash Flows | |||||||||
| (in thousands) | |||||||||
| For the Year Ended | |||||||||
| December 31, | |||||||||
| 2024 | 2023 | ||||||||
| Cash flows from operating activities | |||||||||
| Net loss | $ | (22,560 | ) | $ | (22,237 | ) | |||
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||||
| Depreciation and amortization expense | 4,947 | 6,954 | |||||||
| Asset impairment charges | 3,483 | 100 | |||||||
| Amortization of deferred finance costs | 115 | 22 | |||||||
| Stock-based compensation | 403 | 242 | |||||||
| Provision for doubtful accounts | 17 | 75 | |||||||
| Contingent reduction in equity ownership of IM Topco, LLC | 4,213 | - | |||||||
| Loss from equity method investment | 7,623 | 2,060 | |||||||
| Loss on early extinguishment of debt | 287 | - | |||||||
| Deferred income tax provision (benefit) | - | 1,107 | |||||||
| Gain on sale of limited partner ownership interest | - | (359 | ) | ||||||
| Gain on settlement of lease liability | - | (445 | ) | ||||||
| Gain on divestiture of Lori Goldstein brand | (3,801 | ) | - | ||||||
| Changes in operating assets and liabilities: | |||||||||
| Accounts receivable | 1,168 | 1,581 | |||||||
| Inventory | 453 | 2,391 | |||||||
| Prepaid expenses and other assets | (279 | ) | 1,034 | ||||||
| Deferred revenue | (398 | ) | 4,356 | ||||||
| Accounts payable, accrued expenses and other current liabilities | 16 | (2,936 | ) | ||||||
| Lease-related assets and liabilities | (794 | ) | (525 | ) | |||||
| Other Liabilities | 391 | 35 | |||||||
| Net cash used in operating activities | (4,716 | ) | (6,545 | ) | |||||
| Cash flows from investing activities | |||||||||
| Capital contribution to equity method investee | - | (150 | ) | ||||||
| Net proceeds from the sale of assets | - | 459 | |||||||
| Purchase of property and equipment | (112 | ) | (100 | ) | |||||
| Net cash provided by investing activities | (112 | ) | 209 | ||||||
| Cash flows from financing activities | |||||||||
| Proceeds from public offering and private placement transactions, net of transaction costs | 1,902 | - | |||||||
| Proceeds from long-term debt | 7,950 | 5,000 | |||||||
| Proceeds from exercise of stock options | - | 27 | |||||||
| Shares repurchased including vested restricted stock in exchange for withholding taxes | (107 | ) | - | ||||||
| Payment of deferred finance costs | (922 | ) | (301 | ) | |||||
| Payment of long-term debt | (5,000 | ) | - | ||||||
| Net cash provided by (used in) financing activities | 3,823 | 4,726 | |||||||
| Net decrease in cash and cash equivalents | (1,005 | ) | (1,610 | ) | |||||
| Cash and cash equivalents at beginning of year | 2,998 | 4,608 | |||||||
| Cash and cash equivalents at end of year | $ | 1,993 | $ | 2,998 | |||||
| Reconciliation to amounts on consolidated balance sheets: | |||||||||
| Cash and cash equivalents | 1,254 | 2,998 | |||||||
| Restricted cash (reported in other non-current assets) | 739 | - | |||||||
| Total cash, cash equivalents, and restricted cash | $ | 1,993 | $ | 2,998 | |||||
| ($ in thousands) | Three Months Ended | For the Twelve Months Ended | |||||||||||||
| December 31, | December 31, | December 31, | December 31, | ||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| Net loss attributable to Xcel Brands, Inc. stockholders | $ | (7,083 | ) | $ | (6,797 | ) | $ | (22,395 | ) | $ | (21,052 | ) | |||
| Asset impairment | - | 3,483 | 100 | ||||||||||||
| Amortization of trademarks | 876 | 1,520 | 4,790 | 6,085 | |||||||||||
| Loss from equity method investments | 5,940 | 515 | 7,623 | 2,060 | |||||||||||
| Stock-based compensation and cost of licensee warrants | 165 | 58 | 509 | 242 | |||||||||||
| Loss on early extinguishment of debt | 287 | - | 287 | - | |||||||||||
| Contingent reduction in equity ownership of IM Topco, LLC | (2,041 | ) | - | 4,213 | - | ||||||||||
| Gain on the sale of assets | - | (8 | ) | (3,801 | ) | (359 | ) | ||||||||
| Gain on lease termination | - | - | - | (445 | ) | ||||||||||
| Income tax provision (benefit) | 220 | 1,212 | 220 | 1,212 | |||||||||||
| Non-GAAP net (loss) | $ | (1,636 | ) | $ | (3,500 | ) | $ | (5,071 | ) | $ | (12,157 | ) | |||
| Three Months Ended | For the Twelve Months Ended | ||||||||||||||
| December 31, | December 31, | December 31, | December 31, | ||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| Diluted loss per share attributable to Xcel Brand Inc. stockholders | $ | (3.00 | ) | $ | (3.43 | ) | $ | (9.84 | ) | $ | (10.68 | ) | |||
| Asset impairment | - | - | 1.53 | 0.05 | |||||||||||
| Amortization of trademarks | 0.37 | 0.77 | 2.10 | 3.09 | |||||||||||
| Loss from equity method investments | 2.52 | 0.26 | 3.35 | 1.05 | |||||||||||
| Stock-based compensation and cost of licensee warrants | 0.07 | 0.03 | 0.22 | 0.12 | |||||||||||
| Loss on early extinguishment of debt | 0.12 | - | 0.13 | - | |||||||||||
| Contingent reduction in equity ownership of IM Topco, LLC | (0.86 | ) | - | 1.85 | - | ||||||||||
| Gain on the sale of assets | - | - | (1.67 | ) | (0.18 | ) | |||||||||
| Gain on lease termination | - | - | - | (0.23 | ) | ||||||||||
| Deferred income tax benefit | 0.09 | 0.61 | 0.10 | 0.61 | |||||||||||
| Non-GAAP diluted EPS | $ | (0.69 | ) | $ | (1.76 | ) | $ | (2.23 | ) | $ | (6.17 | ) | |||
| Non-GAAP weighted average diluted shares | 2,361,028 | 1,979,413 | 2,275,332 | 1,971,072 | |||||||||||
| ($ in thousands) | Three Months Ended | For the Twelve Months Ended | |||||||||||||
| December 31, | December 31, | December 31, | December 31, | ||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| Net loss attributable to Xcel Brands, Inc. stockholders | $ | (7,083 | ) | $ | (6,797 | ) | $ | (22,395 | ) | $ | (21,052 | ) | |||
| Asset impairment | - | - | 3,483 | 100 | |||||||||||
| Depreciation and amortization | 903 | 1,694 | 4,947 | 6,954 | |||||||||||
| Loss from equity method investments | 5,940 | 515 | 7,623 | 2,060 | |||||||||||
| Interest and finance expense | 206 | 363 | 644 | 381 | |||||||||||
| Income tax benefit | 220 | 1,212 | 220 | 1,212 | |||||||||||
| State and local franchise taxes | 8 | 23 | 41 | 76 | |||||||||||
| Stock-based compensation and cost of licensee warrants | 165 | 58 | 509 | 242 | |||||||||||
| Contingent reduction in equity ownership of IM Topco, LLC | (2,041 | ) | - | 4,213 | - | ||||||||||
| Gain on the sale of assets | (8 | ) | (3,801 | ) | (359 | ) | |||||||||
| Gain on lease termination | - | - | (445 | ) | |||||||||||
| Loss on early extinguishment of debt | 287 | - | 287 | - | |||||||||||
| Amortization of lease finance component on exited lease | 66 | 240 | |||||||||||||
| Costs associated with restructuring of operations | 537 | 1,787 | 536 | 5,106 | |||||||||||
| Adjusted EBITDA | $ | (792 | ) | $ | (1,153 | ) | $ | (3,453 | ) | $ | (5,725 | ) | |||
FAQ
What were Xcel Brands (XELB) Q4 2024 earnings results?
How did XELB perform in full-year 2024?
What is the status of XELB's social media growth in 2024?
How much debt does XELB have and what recent financing changes occurred?
What major changes occurred in XELB's business during 2024?
