---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-21-016163"
form_type: "8-K"
ticker: "XELB"
cik: "0001083220"
company_name: "XCel Brands, Inc."
filed_at: "2021-11-18T23:59:59+00:00"
generated_at: "2026-06-28T06:50:20.573842+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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

## SEC filing metadata
- accession: 0001558370-21-016163
- form_type: 8-K
- ticker: XELB
- cik: 0001083220
- company_name: XCel Brands, Inc.
- filed_at: 2021-11-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083220/000155837021016163/0001558370-21-016163-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083220/000155837021016163/xelb-20211115x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-21-016163
- JSON: https://secwatch.observer/filing/0001558370-21-016163.json
- Plain text: https://secwatch.observer/filing/0001558370-21-016163.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.