Xcel(XELB) - 2022 Q1 - Earnings Call Transcript

Financial Data and Key Metrics Changes - Total revenue for Q1 2022 was $8.7 million, representing a 12% increase or approximately $0.9 million from Q1 2021 [11][17] - The company's net loss was $3.5 million compared to a loss of $2.5 million in the same quarter last year [11][19] - Adjusted EBITDA was flat year-over-year at a loss of just under $1 million [11][20] - Gross margin from product sales declined from approximately 48% in Q1 2021 to approximately 40% in Q1 2022 [17] Business Line Data and Key Metrics Changes - The acquisition of the Lori Goldstein brand in April 2021 contributed to revenue growth [17] - The Judith Ripka brand opened 14 new accounts in Q1 2022, indicating growth in independent jewelry retail [12] - Longaberger showed strong momentum driven by digital live stream shows and influencer strategies [12] Market Data and Key Metrics Changes - The company is focusing on the rapidly growing livestream shopping experience across various screens [10] - The interactive TV businesses with HSN and QVC are expected to present significant opportunities in 2022 and beyond [12] Company Strategy and Development Direction - The company aims to position itself as a leading platform for brands, primarily through livestream shopping [10] - Investments in technology, live streaming, design, product development, and supply chain management are expected to benefit the company [13] - The company plans to return to profitability by the end of the current fiscal year [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges due to logistics and raw materials costs but believes growth investments will help navigate economic headwinds [13] - The company is focused on designing and developing great products while reimagining shopping and entertainment [14] Other Important Information - The company had unrestricted cash and cash equivalents of approximately $3.1 million as of March 31, 2022 [21] - Bank debt was approximately $28.4 million as of the same date [21] Q&A Session Summary - No specific questions or answers were recorded in the provided content, as the call concluded without a Q&A segment [22][23]