Financial Performance - Current quarter net revenue decreased approximately $3.8 million to $3.0 million from $6.8 million for the prior year quarter, primarily due to a $4.2 million decrease in net product sales [99]. - Net income for the current quarter was $0.2 million, compared to a net loss of $3.5 million for the prior year quarter [107]. - The company reported a net loss of $6.1 million for the current six months, an improvement from a net loss of $9.1 million in the prior year six months [124]. - Non-GAAP net loss for the current quarter was approximately $0.3 million, or $0.01 per diluted share, compared to a non-GAAP net loss of $2.1 million, or $0.10 per diluted share, for the prior year quarter [108]. - Non-GAAP net loss was approximately $2.1 million, or $0.10 per diluted share, compared to a non-GAAP net loss of $5.6 million, or $0.28 per diluted share, for the prior year six months [125]. Revenue Sources - Net licensing revenue increased approximately $0.4 million to $2.8 million in the current quarter, driven by new licensing agreements and the launch of the TowerHill brand [100]. - Net licensing revenue increased by approximately $0.4 million to $5.0 million in the current six months, driven by new licensing agreements, including the Halston Master License with G-III Apparel Group [116]. - Net product sales dropped from $8.2 million in the prior year six months to $0.1 million in the current six months, attributed to the exit from wholesale apparel and fine jewelry sales operations [115]. Cost Management - Cost of goods sold for the current quarter was less than $0.1 million, compared to $3.8 million for the prior year quarter, reflecting the exit from wholesale and direct-to-consumer operations [101]. - Direct operating costs and expenses decreased approximately $2.1 million to $3.1 million in the current quarter, attributed to the 2023 restructuring and reductions in staffing [102]. - Direct operating costs and expenses decreased by approximately $5.0 million from $12.1 million in the prior year six months to $7.1 million in the current six months, due to restructuring efforts [119]. - The restructuring initiatives are expected to provide approximately $22 million of annualized cost savings compared to the previous operating model [152]. Cash Flow and Liquidity - As of June 30, 2024, unrestricted cash and cash equivalents were $0.9 million, down from $3.0 million as of December 31, 2023 [128]. - The company incurred net cash used in operating activities of approximately $2.9 million for the six months ended June 30, 2024, compared to approximately $1.47 million in the prior year six months [130][135]. - The current six months net cash used in operating activities was $(6.18) million, with non-cash items of approximately $4.10 million and a net change in operating assets and liabilities of approximately $(0.80) million [136]. - Net cash provided by financing activities in the current six months was primarily attributable to $1.90 million of net proceeds from equity issuance transactions [139]. - The Company raised approximately $1.9 million in total net proceeds from the public offering and private placement of 3,579,064 shares of common stock [142]. Strategic Initiatives - The company aims to build a diversified portfolio of lifestyle consumer products brands through organic growth and strategic acquisitions [97]. - The Company plans to diversify its licensed products and distribution channels to reduce dependence on any particular retailer or market sector [149]. - Xcel's brands have generated over $5 billion in retail sales via live streaming and digital channels, reaching over 5 million social media followers [97]. Economic Environment - The Company continues to face headwinds from poor economic conditions, which may negatively impact demand for its products [153]. - The Company has no off-balance sheet arrangements that could materially affect its financial condition or results of operations [155]. Other Financial Matters - The company recognized a $3.80 million gain on the divestiture of the Lori Goldstein Brand, with non-cash consideration received [104]. - The Company has recorded a liability of $6.6 million related to the Lori Goldstein Earn-Out, which was based on royalties earned [146]. - The Company de-recognized approximately $1.03 million of accrued Lori Goldstein Earn-Out payments following the divestiture of the Lori Goldstein Brand [148].

Revenue and Income - For the three months ended June 30, 2024, the company reported revenue of $2,954,000, while for the six months ended June 30, 2024, revenue was $5,138,000[4] - The pretax net income for the three months ended June 30, 2024, was $195,000, but for the six months, there was a net loss of $6,099,000[4] - Adjusted EBITDA for the three months ended June 30, 2024, was $(40,000), and for the six months, it was $(1,612,000)[4] Asset Sales and Impairments - The company expects a one-time net gain of approximately $3.8 million from the sale of the Lori Goldstein assets, which positively impacted the results[3] - The company anticipates an additional impairment charge of approximately $1.2 million related to the exit of its prior principal offices[4] Financial Reporting and Compliance - The preliminary financial results are unaudited and subject to completion of financial closing procedures, indicating potential variability in final figures[5] - The company is classified as an emerging growth company, which may affect its financial reporting and compliance requirements[2] - The financial information includes non-GAAP measures, which should be considered alongside U.S. GAAP measures for a comprehensive understanding of performance[6] - The company has not yet finalized its financial results, and reliance on preliminary estimates should be cautious[5] Signatory Information - The report was signed by the Chief Financial Officer, James F. Haran, on July 24, 2024[11]

Xcel Brands, Inc. (NASDAQ:XELB) Q1 2024 Earnings Call Transcript May 20, 2024 5:00 PM ET Company Participants Paul Kuntz - IR Robert D'Loren - Chairman and CEO Jim Haran - CFO Conference Call Participants Michael Kupinski - Noble Capital Markets Anthony Lebiedzinski - Sidoti Howard Brous - Wellington Shields Operator Welcome to Xcel Brands First Quarter 2024 Earnings Conference Call. Please be advised that reproduction of this call in whole or in part is not permitted without prior written authorization of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-37527 XCEL BRANDS, INC. (Exact name of registrant as specified in its charter) | Delaware | 76-0307819 | | --- | ...

Exhibit 99.1 XCEL BRANDS, INC. ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2023 RESULTS NEW YORK, NY (April16, 2024) – 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 fourth quarter and fiscal year ended December 31, 2023. Robert W. D'Loren, Chairman and Chief Executive Officer of Xcel commented, "Throughout 2023, we focused on a restructuring pl ...

PART I This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. All statements other than statements of historical fact contained in this Annual Report, including statements regarding future events, our future financial performance, business strategy, and plans and objectives of management for future operations, are ...

Xcel Brands, Inc. (NASDAQ:XELB) Q4 2023 Results Conference Call April 16, 2024 5:00 PM ET Company Participants Craig Brelsford - IR Robert D'Loren - Chairman and Chief Executive Officer Jim Haran - Chief Financial Officer Seth Burroughs - Executive Vice President of Business Development and Treasury Conference Call Participants Michael Kupinski - Noble Capital Markets Anthony Lebiedzinski - Sidoti & Company Howard Brous - Wellington Shields Operator Hello, everyone. And welcome to the Xcel Brands Incorporat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 7, 2024 XCEL BRANDS, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation) (Commission File Number) Delaware 001-37527 76-0307819 (IRS Employer Identification No.) 1333 Broadway, New York, New York (Address of Principal Executive Offices ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-37527 XCEL BRANDS, INC. (Exact name of registrant as specified in its charter) | Delaware | 76-0307819 | | - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ (Exact name of registrant as specified in its charter) | Delaware | 76-0307819 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S. Em ...