$XELB
XCel Brands, Inc.

2016 Q1 Form 10-Q Financial Statement

#000114420416100439 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q1
Revenue $8.361M $7.470M $6.591M
YoY Change 26.85% 39.89% 86.19%
Cost Of Revenue $70.00K $140.0K $45.00K
YoY Change 55.56% -150.0%
Gross Profit $8.322M $7.340M $6.546M
YoY Change 27.13% 30.37% 84.92%
Gross Profit Margin 99.53% 98.26% 99.32%
Selling, General & Admin $7.560M $5.600M $5.390M
YoY Change 40.26% 39.65% 22.5%
% of Gross Profit 90.84% 76.29% 82.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $426.0K $430.0K $262.0K
YoY Change 62.6% 79.17% 16.96%
% of Gross Profit 5.12% 5.86% 4.0%
Operating Expenses $7.980M $6.030M $5.640M
YoY Change 41.49% 43.91% 22.08%
Operating Profit $339.0K $1.310M $287.0K
YoY Change 18.12% -9.03% -126.57%
Interest Expense -$440.0K -$430.0K -$510.0K
YoY Change -13.73% 0.0% -314.29%
% of Operating Profit -129.79% -32.82% -177.7%
Other Income/Expense, Net
YoY Change
Pretax Income -$96.00K $880.0K -$224.0K
YoY Change -57.14% -12.87% -83.0%
Income Tax -$51.00K $120.0K -$106.0K
% Of Pretax Income 13.64%
Net Earnings -$45.00K $770.0K -$331.0K
YoY Change -86.4% -240.0% -65.34%
Net Earnings / Revenue -0.54% 10.31% -5.02%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.709K $39.53K -$23.45K
COMMON SHARES
Basic Shares Outstanding 18.46M shares 18.44M shares 14.07M shares
Diluted Shares Outstanding 14.07M shares

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.60M $16.90M $6.200M
YoY Change 103.23% 98.82% -4.62%
Cash & Equivalents $12.59M $16.86M $6.208M
Short-Term Investments
Other Short-Term Assets $700.0K $600.0K $1.800M
YoY Change -61.11% -40.0% 200.0%
Inventory
Prepaid Expenses
Receivables $9.100M $7.594M $4.900M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.40M $25.11M $12.85M
YoY Change 74.35% 90.12% 17.74%
LONG-TERM ASSETS
Property, Plant & Equipment $973.0K $871.0K $834.0K
YoY Change 16.67% 4.56% -38.59%
Goodwill $12.37M $12.37M $12.37M
YoY Change 0.0% 0.0% 0.0%
Intangibles $112.0M $112.3M $97.54M
YoY Change 14.87% 14.99% 115.9%
Long-Term Investments
YoY Change
Other Assets $287.0K $343.0K $274.0K
YoY Change 4.74% 26.57% -44.31%
Total Long-Term Assets $126.8M $127.0M $111.6M
YoY Change 13.63% 12.87% 87.2%
TOTAL ASSETS
Total Short-Term Assets $22.40M $25.11M $12.85M
Total Long-Term Assets $126.8M $127.0M $111.6M
Total Assets $149.2M $152.1M $124.5M
YoY Change 19.9% 20.98% 76.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.300M $3.300M $2.900M
YoY Change -20.69% -5.71% 123.08%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.864M $8.918M $6.615M
YoY Change 18.88% 57.84% 429.2%
Total Short-Term Liabilities $10.17M $13.14M $17.16M
YoY Change -40.74% -25.4% 478.68%
LONG-TERM LIABILITIES
Long-Term Debt $30.79M $31.86M $36.04M
YoY Change -14.57% -18.36% 55.09%
Other Long-Term Liabilities $600.0K $300.0K $200.0K
YoY Change 200.0% 50.0% 270.37%
Total Long-Term Liabilities $38.09M $38.91M $43.97M
YoY Change -13.38% -16.6% 38.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.17M $13.14M $17.16M
Total Long-Term Liabilities $38.09M $38.91M $43.97M
Total Liabilities $48.25M $52.04M $61.12M
YoY Change -21.06% -19.01% 76.63%
SHAREHOLDERS EQUITY
Retained Earnings $6.021M $6.066M $3.161M
YoY Change 90.48% 73.71% -11.43%
Common Stock $94.95M $94.02M $60.17M
YoY Change 57.79% 65.72% 85.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $101.0M $100.1M $63.33M
YoY Change
Total Liabilities & Shareholders Equity $149.2M $152.1M $124.5M
YoY Change 19.9% 22.21% 76.46%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q1
OPERATING ACTIVITIES
Net Income -$45.00K $770.0K -$331.0K
YoY Change -86.4% -240.0% -65.34%
Depreciation, Depletion And Amortization $426.0K $430.0K $262.0K
YoY Change 62.6% 79.17% 16.96%
Cash From Operating Activities -$1.302M $1.910M -$400.0K
YoY Change 225.5% -39.94% 277.36%
INVESTING ACTIVITIES
Capital Expenditures $246.0K -$440.0K $27.00K
YoY Change 811.11% -375.0% -75.89%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.110M -$10.00K
YoY Change -100.0% -105.93% -94.12%
Cash From Investing Activities -$246.0K $680.0K -$41.00K
YoY Change 500.0% -103.67% -91.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $282.0K $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $2.125M $1.000M
YoY Change 112.5%
Cash From Financing Activities -2.730M -820.0K -1.880M
YoY Change 45.21% -104.46% 358.54%
NET CHANGE
Cash From Operating Activities -$1.302M 1.910M -$400.0K
Cash From Investing Activities -$246.0K 680.0K -$41.00K
Cash From Financing Activities -2.730M -820.0K -1.880M
Net Change In Cash -$1.548M 1.770M -$441.0K
YoY Change 251.02% -41.0% -23.97%
FREE CASH FLOW
Cash From Operating Activities -$1.302M $1.910M -$400.0K
Capital Expenditures $246.0K -$440.0K $27.00K
Free Cash Flow -$1.548M $2.350M -$427.0K
YoY Change 262.53% -22.19% 95.87%

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CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.05
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.22
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
106000 USD
CY2016Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
120000 USD
CY2016Q1 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
0 USD
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
175000 USD
CY2016Q1 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
0 USD
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
188000 USD
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y2M5D
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1174000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
-695000 USD
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y9M29D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y8M16D
CY2015Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-164000 USD
CY2016Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
0 USD
CY2015Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-140000 USD
CY2016Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
0 USD
CY2016Q1 us-gaap Royalty Expense
RoyaltyExpense
34000 USD
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
35000000 shares
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
35000000 shares
CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18674852 shares
CY2016Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18674852 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18434634 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18434634 shares
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14069419 shares
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18458748 shares
CY2016Q1 xelb Payment Of Qvc Earnout Obligation
PaymentOfQvcEarnoutObligation
250000 USD
CY2015Q1 xelb Payment Of Qvc Earnout Obligation
PaymentOfQvcEarnoutObligation
0 USD
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
-0.01
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.53 pure
CY2015Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.47 pure
CY2015Q4 xelb Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Warrants Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsWarrantsOutstandingNumber
2219543 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
CY2016Q1 xelb Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Warrants Exercises In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsWarrantsExercisesInPeriod
25000 shares
CY2016Q1 xelb Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2016Q1 xelb Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Warrants Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsWarrantsOutstandingNumber
2194543 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.07
CY2016Q1 xelb Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedInPeriod
0
CY2016Q1 xelb Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Canceled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsCanceledInPeriod
0
CY2016Q1 xelb Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercises In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisesInPeriod
0.01
CY2016Q1 xelb Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures And Expirations In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresAndExpirationsInPeriodWeightedAverageGrantDateFairValue
0
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.14
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P3Y4D
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P3Y2M23D
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
3168000 USD
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
-750000 USD
CY2016Q1 us-gaap Long Term Debt Maturities Repayment Terms
LongTermDebtMaturitiesRepaymentTerms
Company shall pay an early termination fee as follows: an amount equal to the principal amount outstanding under the Term Loan on the date of prepayment, multiplied by: (i) two percent (2.00%) if the Xcel Term Loan is prepaid on or after the closing date and on or before the second anniversary of the closing date; (ii) one percent (1.00%) if the Xcel Term Loan is prepaid after the second anniversary of the closing date and on or before the third anniversary of the closing date; or (iii) zero percent (0.00%), if the Xcel Term Loan is prepaid after the third anniversary of the closing date.
CY2016Q1 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
27875000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2824000 USD
CY2016Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
114865000 USD
CY2015Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
114865000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2542000 USD
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
282000 USD
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
157000 USD
CY2016Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.01
CY2016Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.00
CY2016Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.00
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.00
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.02
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.00

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