---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-005378"
form_type: "8-K"
ticker: "XELB"
cik: "0001083220"
company_name: "XCel Brands, Inc."
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T15:11:14.243282+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Xcel Brands reports FY2023 net loss $21.1M, receives Nasdaq bid price deficiency notice

## Summary
- GAAP net loss $21.1M for FY2023 vs $4.0M prior year (included $20.6M gain on Isaac Mizrahi sale).
- Q4 net revenue $2.3M, down 44% YoY; Adjusted EBITDA improved to -$1.2M from -$5.9M.
- Received Nasdaq deficiency letter for bid price below $1.00; 180-day cure period until Oct 14, 2024.
- Restructuring complete: reduced salaries/opex by $14M, entered new licensing for Halston, Judith Ripka, etc.
- Closed $5M term loan in Q4 2023; cash $3.0M, equity $48M at year-end.

## SEC filing metadata
- accession: 0001558370-24-005378
- form_type: 8-K
- ticker: XELB
- cik: 0001083220
- company_name: XCel Brands, Inc.
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083220/000155837024005378/0001558370-24-005378-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083220/000155837024005378/xelb-20240416x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-005378
- JSON: https://secwatch.observer/filing/0001558370-24-005378.json
- Plain text: https://secwatch.observer/filing/0001558370-24-005378.txt

## Key facts
- Earnings Releases
  XCel Brands, Inc. reported fiscal year ended December 31, 2023 results: revenue $17.8 million, net income $21.1 million, EPS ($1.07) per share.
  - Period: fiscal year ended December 31, 2023
  - Revenue: $17.8 million
  - Net income: $21.1 million
  - EPS: ($1.07) per share
  - Result: reported results
  source text: into the new long-term license agreements for our Halston, Judith Ripka, C Wonder and Longaberger brands. Full Year 2023 Financial Results Net revenue for the current year was $17.8 million, representing a decrease of approximately $8.0 million (45%) from the prior year. The year-over-year revenue decline from the prior year was driven by a $5.6 million decrease in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083220/000155837024005378/0001558370-24-005378-index.htm
- Earnings Releases
  XCel Brands, Inc. reported fourth quarter ended December 31, 2023 results: revenue $2.3 million, net income $6.8 million, EPS ($0.34) per share.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: $2.3 million
  - Net income: $6.8 million
  - EPS: ($0.34) per share
  - Result: reported results
  source text: Net revenue for the fourth quarter of 2023 was $2.3 million, representing a decrease of approximately $1.8 million (-44%) from the fourth quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083220/000155837024005378/0001558370-24-005378-index.htm
- Listing & Compliance Notices
  XCel Brands, Inc. received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5810(c)(3)(A), 5810(c)(3)(A)(ii)).
  - Exchange: nasdaq
  - Notice: noncompliance notice
  - Deficiency: minimum bid price
  - Rules: 5810(c)(3)(A), 5810(c)(3)(A)(ii)
  source text: April 16, 2024, Xcel Brands, Inc. (the “Company”), received a letter from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that the minimum bid price per share for its common stock fell below $1.00 for a period of 30 consecutive business days. Therefore, the Company did not meet the minimum bid price requirement set forth in the Nasdaq Listing Rules. ​ The letters also state that pursuant to Nasdaq Listing Rules 5810(c)(3)(A), the Company will be provided 180 calendar days to regain compliance with the minimum bid price requirement, or until Oct
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083220/000155837024005378/0001558370-24-005378-index.htm

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