XCel Brands, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 10/31/23 | FY 12/31/22 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $4.9M | $8.3M | $17.8M | — | $25.8M |
| Cost of revenue | — | $445,000 | $6.9M | — | $8.0M |
| Gross profit | $4.9M | $7.8M | $10.8M | — | $17.8M |
| Selling, general & administrative | $4.6M | $6.8M | $13.3M | — | $16.3M |
| Operating expenses | — | — | — | — | $620,000 |
| Operating income | -$13.2M | -$21.4M | -$20.6M | — | -$2.3M |
| Interest expense | $2.1M | $618,000 | $113,000 | — | — |
| Pretax income | -$17.5M | -$22.3M | -$21.0M | — | -$5.8M |
| Income tax expense | $75,000 | $220,000 | $1.2M | — | -$431,000 |
| Net income | -$17.5M | -$22.4M | -$21.1M | — | -$4.0M |
| Balance Sheet | |||||
| Cash and equivalents | $1.1M | $1.3M | $3.0M | — | $4.6M |
| Current assets | $3.7M | $4.0M | $7.3M | — | $14.0M |
| Total assets | $38.9M | $53.8M | $71.7M | — | $88.9M |
| Current liabilities | $7.5M | $10.4M | $6.5M | — | $6.6M |
| Total liabilities | $23.1M | $25.4M | $23.5M | — | $18.8M |
| Total debt | $13.6M | $8.0M | $5.0M | $5.0M | $0 |
| Stockholders' equity | $18.0M | $30.4M | $50.0M | — | $70.8M |
| Cash Flow Statement | |||||
| Cash from operations | -$7.0M | -$4.7M | -$6.5M | — | -$14.2M |
| Depreciation and amortization | $3.6M | $4.9M | $7.0M | — | $7.3M |
| Stock-based compensation | $570,000 | $403,000 | $242,000 | — | $620,000 |
| Capital expenditure | $10,000 | $112,000 | $100,000 | — | $265,000 |
| Free cash flow | -$7.0M | -$4.8M | -$6.6M | — | -$14.4M |
| Share repurchases | $204,000 | $107,000 | — | — | $442,000 |
| Impairments | $0 | $3.5M | $100,000 | — | $274,000 |
Shares outstanding 6.0M · Free float 58.1%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.