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XCel Brands cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$1.9M in Q2 2026 · −$6.0M over twelve months

Operating cash flow−$1.9M
Free cash flow−$1.9M

Analysis

In Q2 2026, XCel Brands generated −$1.9M of operating cash flow. That is $505K more than in Q2 2025 (−$2.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$6.0M; the largest uses were operating cash flow ($6.0M), other financing ($552K), buybacks ($190K); besides operations, cash came from net borrowing (+) / repaid (−) ($3.0M), other investing ($2.0M); the cash balance fell by $1.7M.

Operating cash flow was −$1.9M against net income of −$2.5M. The largest differences: depreciation & amortization +$813K, deferred revenue −$566K, stock-based pay +$223K.

Free cash flow

XCel Brands: free cash flow by quarterXCel Brands: free cash flow by quarter−$432KQ3 2024−$1.4MQ4 2024−$1.4MQ1 2025−$2.4MQ2 2025−$1.4MQ3 2025−$1.8MQ4 2025−$877KQ1 2026−$1.9MQ2 2026
Operating cash flow less capital spending.
XCel Brands: operating cash flow against capital spendingXCel Brands: operating cash flow against capital spendingOperating cash flowCapital spending−$424K$8KQ3 2024−$1.4M$0Q4 2024−$1.4M$14KQ1 2025−$2.4M−$4KQ2 2025−$1.4M$0Q3 2025−$1.8M$0Q4 2025−$877K$0Q1 2026−$1.9M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$1.9M, Capital spending $0.

Capital allocation, year by year

XCel Brands: where the cash came from (up) and went (down), by fiscal yearXCel Brands: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow −$6.6MFY2021: Net borrowing $9.8MFY2021: Shares issued $5KFY2021: Capital spending −$1.1MFY2021: Buybacks −$16K$9.8MFY2021FY2022: Operating cash flow −$14.2MFY2022: Net borrowing −$29.0MFY2022: Capital spending −$265KFY2022: Buybacks −$442KFY2022FY2023: Operating cash flow −$6.5MFY2023: Net borrowing $5.0MFY2023: Shares issued $27KFY2023: Asset sales $459KFY2023: Capital spending −$100K$5.5MFY2023FY2024: Operating cash flow −$4.7MFY2024: Net borrowing $3.0MFY2024: Shares issued $1.9MFY2024: Capital spending −$112KFY2024: Buybacks −$107K$4.9MFY2024FY2025: Operating cash flow −$7.0MFY2025: Net borrowing $5.7MFY2025: Shares issued $2.0MFY2025: Capital spending −$10KFY2025: Buybacks −$204K$7.6MFY2025
Over these 5 years operating cash flow totalled −$39.0M; the largest uses were operating cash flow ($39.0M) and net borrowing ($29.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$399K
Debt$12.1M
Net debt$11.7M
Due within a year$1.9M
Cash runway1 month

XCel Brands is burning cash: its operations consume cash, a free cash flow of −$6.0M a year at the current rate against $399K of cash and investments: a runway of about 1 month; $1.9M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Where the cash came from and went

XCel Brands: sources (+) and uses (−) of cash, Q2 2026XCel Brands: sources (+) and uses (−) of cash, Q2 2026Not reconciled$2.0MOperating cash flow−$1.9MOther financing−$331KCash drawn (+) / kept (−)$242KBuybacks−$56K
XCel Brands: sources (+) and uses (−) of cash, TTM to Q2 2026XCel Brands: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$6.0MNet borrowing (+) / repaid (−)$3.0MOther investing$2.0MCash drawn (+) / kept (−)$1.7MOther financing−$552KBuybacks−$190K

From profit to cash

XCel Brands: net income to operating cash flow, Q2 2026XCel Brands: net income to operating cash flow, Q2 2026Net income−$2.5MDepreciation & amortization$813KStock-based pay$223KReceivables$33KDeferred revenue−$566KOperating cash flow−$1.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026−$1.9M—−$56K—$242K−$1.9M
Q1 2026−$877K—−$46K−$500K$1.6M−$877K
Q4 2025−$1.8M—−$82K−$250K$344K−$1.8M
Q3 2025−$1.4M—−$6K—−$524K−$1.4M
Q2 2025−$2.4M$4K−$58K$3.6M−$172K−$2.4M
Q1 2025−$1.4M−$14K−$58K$2.0M−$544K−$1.4M
Q4 2024−$1.4M——−$4.5M−$1.0M−$1.4M
Q3 2024−$424K−$8K—−$250K$682K−$432K

XCel Brands: income statement and cash flow

XCel Brands, Q2 2026: revenue $1.1M (-15% year over year), operating margin -141.4%. The chart follows the revenue to costs, profit and cash.

XCel Brands: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.