XCel Brands Files 8-K on Financials
Ticker: XELB · Form: 8-K · Filed: Jul 24, 2024 · CIK: 1083220
| Field | Detail |
|---|---|
| Company | Xcel Brands, Inc. (XELB) |
| Form Type | 8-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $3.8 million, $3.8 m, $1.2 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-condition, results-of-operations, filing
TL;DR
XCel Brands dropped an 8-K on 7/24 detailing financials. Check it out.
AI Summary
XCel Brands, Inc. filed an 8-K on July 24, 2024, reporting on its results of operations and financial condition. The filing also includes financial statements and exhibits. The company was formerly known as Netfabric Holdings, Inc. and Houston Operating Co.
Why It Matters
This 8-K filing provides an update on XCel Brands' financial performance and condition, which is crucial information for investors to assess the company's health and future prospects.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of financial information and does not appear to contain any immediate or significant negative developments.
Key Players & Entities
- XCel Brands, Inc. (company) — Registrant
- July 24, 2024 (date) — Date of earliest event reported
- Netfabric Holdings, Inc. (company) — Former company name
- Houston Operating Co. (company) — Former company name
- 1333 Broadway, New York, New York 10018 (address) — Principal Executive Offices
FAQ
What specific financial information is being reported in this 8-K filing?
The filing indicates it pertains to 'Results of Operations and Financial Condition' and includes 'Financial Statements and Exhibits'.
When was the earliest event reported in this filing?
The earliest event reported is dated July 24, 2024.
What is the principal executive office address for XCel Brands, Inc.?
The principal executive office is located at 1333 Broadway, New York, New York 10018.
Has XCel Brands, Inc. operated under any previous names?
Yes, the company was formerly known as Netfabric Holdings, Inc. and Houston Operating Co.
What is the SEC file number for XCel Brands, Inc.?
The SEC file number is 001-37527.
Filing Stats: 767 words · 3 min read · ~3 pages · Grade level 11.1 · Accepted 2024-07-24 16:56:55
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share XELB NASDAQ Global Select
- $3.8 million — de a one-time net gain of approximately $3.8 million from the sale. Three Months Ended Ju
- $3.8 m — de a one-time net gain of approximately $3.8 million, which is attributable to a combi
- $1.2 million — onal impairment charge of approximately $1.2 million from the exit of the Company's prior pr
Filing Documents
- xelb-20240724x8k.htm (8-K) — 50KB
- xelb-20240724xex99d1.htm (EX-99.1) — 30KB
- 0001558370-24-010055.txt ( ) — 201KB
- xelb-20240724.xsd (EX-101.SCH) — 3KB
- xelb-20240724_lab.xml (EX-101.LAB) — 16KB
- xelb-20240724_pre.xml (EX-101.PRE) — 10KB
- xelb-20240724x8k_htm.xml (XML) — 5KB
02
Item 2.02 Results of Operations and Financial Conditions Xcel Brands, Inc, (the "Registrant" or the "Company") expects to make presentations to certain investors and will be providing the following preliminary estimated financial information for the three and six months ended June 30, 2024: The Company's results of operations for the three and six months ended March 31, 2024 were positively impacted in a material amount by the sale of the assets, including the intellectual property, relating to the Lori Goldstein assets, which was effective June 30, 2024. The Company expects to include a one-time net gain of approximately $3.8 million from the sale. Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Revenue $ 2,954,000 $ 5,138,000 Pretax net income (loss) (1) $ 195,000 $ (6,099,000 ) Net income (loss) attributable to Xcel Brands, Inc stockholders (1) $ 195,000 $ (6,099,000 ) Adjusted EBITDA $ (40,000 ) $ (1,612,000 ) (1) Pretax net income (loss) and net income (loss) are expected to include a one-time net gain of approximately $3.8 million, which is attributable to a combination of a net loss on the sale of the Lori Goldstein brand assets, and a reduction of the related contingent obligations. Pretax net income (loss) and net income (loss) also are expected to include an additional impairment charge of approximately $1.2 million from the exit of the Company's prior principal offices. The estimated results for the quarter ended June 30, 2024, are preliminary and unaudited, represent management's estimate as of the date of the release and are subject to completion of its financial closing procedures. The Company's independent registered public accounting firm has not conducted an audit or review of and does not express an opinion or any other form of assurance with respect to the preliminary unaudited results. Accordingly, undue reliance should not be placed on the preliminary estimates. The preliminary estimates ar
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 99.1 Reconciliation of Adjusted EBITDA to net loss 104 Cover Page Interactive Data File (embedded within the inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date July 24, 2024 XCEL BRANDS, INC. By: /s/ James F. Haran Name: James F. Haran Title: Chief Financial Officer