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XELB

Xcel Brands, Inc.

XELB

Xcel Brands, Inc. • NASDAQ
$0.94 ▲ 3.75% (+0.03)
Market Cap $4.52 M
52w High $7.40
52w Low $0.74
Dividend Yield 0%
P/E -0.12
Volume 10.25K
Outstanding Shares 4.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.118M ▼ $1.214M ▼ $-7.899M ▼ -706.53% ▼ $-2.02 ▼ $-6.598M ▼
Q2-2025 $1.321M ▼ $2.975M ▼ $-3.988M ▼ -301.893% ▼ $-1.66 ▼ $-2.605M ▼
Q1-2025 $1.332M ▲ $3.519M ▼ $-2.797M ▲ -209.985% ▲ $-1.18 ▲ $-1.287M ▲
Q4-2024 $1.209M ▼ $7.652M ▼ $-7.083M ▲ -585.856% ▼ $-3.05 ▼ $-5.827M ▲
Q3-2024 $1.912M $10.583M $-9.213M -481.851% $-0.39 $-8.168M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.494M ▲ $40.462M ▼ $15.881M ▼ $18.699M ▼
Q2-2025 $970K ▲ $47.189M ▼ $24.693M ▼ $24.525M ▼
Q1-2025 $298K ▼ $52.486M ▼ $26.776M ▲ $27.736M ▼
Q4-2024 $1.254M ▲ $53.756M ▼ $25.358M ▲ $30.424M ▼
Q3-2024 $242K $53.999M $19.033M $36.919M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.989M ▼ $-1.398M ▲ $0 ▼ $1.922M ▼ $524K ▲ $-1.398M ▲
Q2-2025 $-3.991M ▼ $-2.364M ▼ $4K ▲ $2.532M ▲ $172K ▼ $-2.36M ▼
Q1-2025 $-2.797M ▲ $-1.434M ▼ $-14K ▼ $1.992M ▼ $544K ▼ $-1.448M ▼
Q4-2024 $-7.156M ▲ $-1.409M ▼ $0 ▲ $2.421M ▲ $1.012M ▲ $-1.409M ▼
Q3-2024 $-9.22M $-424K $-8K $-250K $-682K $-432K

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Net licensing revenue
Net licensing revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Net sales
Net sales
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The business is operating at a very small scale and has been shrinking rather than growing in recent years. Revenue has drifted down, and while the company does generate gross profit, it is not enough to cover operating costs. As a result, operating losses and net losses have persisted year after year. Earnings per share look especially weak, amplified by share structure changes. Overall, the income statement shows a company still firmly in a loss‑making phase, with no clear evidence yet of a return to sustained profitability.

Balance Sheet

Balance Sheet The balance sheet is modest and quite light. Total assets are limited, and there is essentially no cash cushion reported, which suggests tight day‑to‑day financial flexibility. Debt is present but not enormous in absolute terms; however, because the asset base and equity are also small, even moderate obligations can feel heavy. Shareholders’ equity has been drifting lower, reflecting ongoing losses. Multiple reverse stock splits over time also hint at market‑cap pressure and efforts to maintain listing standards. In short, the balance sheet is thin and vulnerable, with little room for prolonged missteps.

Cash Flow

Cash Flow Cash generation is weak. Operating cash flow has hovered around breakeven to modestly negative, and free cash flow has followed the same pattern. The lack of significant capital spending keeps cash needs somewhat contained, but it also signals limited investment capacity. With no real cash buffer on the balance sheet and no consistent positive cash inflow from operations, the company likely relies on working‑capital swings, new financing, or asset sales to bridge gaps. This makes funding its strategic pivot and growth initiatives more challenging and raises execution risk.

Competitive Edge

Competitive Edge Xcel is trying to stand out by acting more like a media and social‑commerce company than a traditional apparel manufacturer. Its strengths lie in livestream shopping expertise, a portfolio of recognizable and influencer‑driven brands, and an “asset‑light” licensing approach that avoids owning heavy inventory or factories. This model can be attractive if brand demand scales because it emphasizes marketing and partnerships over physical production. However, the company is small in a brutally competitive industry that includes large fashion groups, e‑commerce giants, and many influencer brands. Its influence‑based model also depends heavily on external platforms and personalities, so its competitive position is promising in concept but still unproven at scale.

Innovation and R&D

Innovation and R&D Rather than classic lab‑style R&D, Xcel’s innovation is in digital commerce, content, and partnerships. The ORME video marketplace is a central bet: it blends short‑form video, social networking, and shopping, with AI‑driven recommendations, interactive tools, and a performance‑based model for creators. This is an ambitious attempt to raise conversion rates in social commerce. The company is also building new influencer‑led brands across fashion and home, aiming to tap into large online followings. The upside is meaningful if adoption is strong, but ORME and the new brand launches are still at an early stage, and their commercial success is uncertain. Execution, user traction, and partner buy‑in will determine whether these innovations translate into durable earnings.

Summary

Xcel Brands is in the middle of a strategic transition: moving from a more traditional fashion model toward an asset‑light, media‑driven, licensing and social‑commerce platform. On the positive side, it has a differentiated vision, experience in livestream selling, and a growing network of branded and influencer collaborations, all supported by technology‑driven initiatives like ORME. On the negative side, the company remains small, loss‑making, and thinly capitalized, with limited cash and no clear track record of profitable growth under this new model yet. The story is therefore highly execution‑dependent: success hinges on turning its digital and influencer innovations into steady, scalable cash flows before financial constraints become too restrictive.

NEWS

September 19, 2025 · 8:00 AM UTC

Xcel Brands Appoints Olin Lancaster as Chief Revenue Officer

Read more