XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.4
Unaudited Condensed Consolidated Statements of Operations - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Net revenue $ 1,912,000 $ 2,637,000 $ 7,050,000 $ 15,468,000
Cost of goods sold 407,000 225,000 445,000 6,718,000
Gross profit 1,505,000 2,412,000 6,605,000 8,750,000
Direct operating costs and expenses        
Salaries, benefits and employment taxes 1,208,000 2,141,000 4,771,000 7,847,000
Other selling, general and administrative expenses 1,618,000 3,482,000 5,137,000 9,918,000
Total direct operating costs and expenses 2,826,000 5,623,000 9,908,000 17,765,000
Operating loss before other operating costs and expenses (income) (1,321,000) (3,211,000) (3,303,000) (9,015,000)
Other operating costs and expenses (income)        
Depreciation and amortization 910,000 1,677,000 4,044,000 5,260,000
Asset impairment charges     3,483,000 100,000
Loss from equity method investments 593,000 515,000 1,683,000 1,545,000
Reduction in equity ownership of IM TopCo, LLC 6,254,000   6,254,000  
Gain on divestiture of Lori Goldstein Brand     (3,801,000)  
Gain on sale of limited partner ownership interest       (351,000)
Gain on settlement of lease liability       (445,000)
Operating loss (9,078,000) (5,403,000) (14,966,000) (15,024,000)
Interest and finance expense (income), net        
Interest and finance expense (income), net 142,000   438,000 18,000
Loss before income taxes (9,220,000) (5,403,000) (15,404,000) (15,042,000)
Income tax benefit 0 0 0 0
Net loss (9,220,000) (5,403,000) (15,404,000) (15,042,000)
Net loss attributable to noncontrolling interest (7,000) (259,000) (92,000) (787,000)
Net loss attributable to Xcel Brands, Inc. stockholders $ (9,213,000) $ (5,144,000) $ (15,312,000) $ (14,255,000)
Earnings (loss) per common share attributable to Xcel Brands, Inc. stockholders:        
Basic earnings (loss) per share $ (0.39) $ (0.26) $ (0.68) $ (0.72)
Diluted earnings (loss) per share $ (0.39) $ (0.26) $ (0.68) $ (0.72)
Weighted average number of common shares outstanding:        
Basic weighted average common shares outstanding 23,522,453 19,749,317 22,466,737 19,683,525
Diluted weighted average common shares outstanding 23,522,453 19,749,317 22,466,737 19,683,525
Net licensing revenue        
Revenues        
Net revenue $ 1,505,000 $ 2,381,000 $ 6,515,000 $ 7,031,000
Net sales        
Revenues        
Net revenue $ 407,000 $ 256,000 $ 535,000 $ 8,437,000