XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Net revenue $ 5,050 $ 9,138 $ 14,577 $ 19,439
Cost of goods sold (sales) 253 1,767 2,653 3,599
Gross profit 4,797 7,371 11,924 15,840
Operating costs and expenses        
Salaries, benefits and employment taxes 2,882 3,848 6,830 7,993
Other design and marketing costs 638 797 1,630 1,555
Other selling, general and administrative expenses 1,627 1,173 3,364 2,763
Stock-based compensation 488 135 731 482
Depreciation and amortization 1,329 1,000 2,632 1,948
Government assistance - Paycheck Protection Program (1,640)   (1,640)  
Property and equipment impairment 82   82  
Total operating costs and expenses 5,406 6,953 13,629 14,741
Other Income        
Gain on reduction of contingent obligation   2,850   2,850
Total other income   2,850   2,850
Operating (loss) income (609) 3,268 (1,705) 3,949
Interest and finance expense        
Interest expense and other finance charges 299 348 593 638
Loss on extinguishment of debt 0 0 0 189
Total interest and finance expense 299 348 593 827
(Loss) income before income taxes (908) 2,920 (2,298) 3,122
Income tax provision (benefit) 428 1,068 (124) 1,143
Net (loss) income (1,336) 1,852 (2,174) 1,979
Less: Net loss attributable to noncontrolling interest (36)   (69)  
Net (loss) income attributable to Xcel Brands, Inc. stockholders $ (1,300) $ 1,852 $ (2,105) $ 1,979
(Loss) earnings per share attributable to Xcel Brands, Inc. common stockholders:        
Basic net (loss) income per share: $ (0.07) $ 0.10 $ (0.11) $ 0.11
Diluted net (loss) income per share: $ (0.07) $ 0.10 $ (0.11) $ 0.11
Weighted average number of common shares outstanding:        
Basic weighted average common shares outstanding 19,132,244 18,976,394 19,001,321 18,770,378
Diluted weighted average common shares outstanding 19,132,244 18,977,051 19,001,321 18,771,053
Net licensing revenue [Member]        
Revenues        
Net revenue $ 4,501 $ 6,803 $ 10,142 $ 14,666
Net sales revenue [Member]        
Revenues        
Net revenue $ 549 $ 2,335 $ 4,435 $ 4,773