Xcel Q3 revenue up 52% to $11.3M; net loss $1.1M; amended credit agreement covenants

XCel Brands, Inc.

2021-Q3 EPS reported -$0.27 revenue$29,834,000

Q3 total revenue $11.3M (+52% YoY); net loss $1.1M (-$0.06 diluted EPS) vs loss $0.4M in prior year
Adjusted EBITDA $1.0M in Q3, down from $1.4M in prior year; nine-month adjusted EBITDA $1.0M vs $3.9M
Nine-month net loss $5.2M (-$0.27 diluted); non-GAAP net loss $1.6M (-$0.08) vs net income $2.1M prior year
Covenants amended: minimum EBITDA targets, $4M liquid assets, fixed charge ratio >=1.00, leverage <=6.75x for Q4 2021

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