Filing Flows › XCel Brands (XELB) › Q2 2025
XCel Brands (XELB) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 14, 2025
XCel Brands (XELB) reported revenue of $1.3M for the second quarter 2025 (Q2 2025), -55% from a year earlier and -0.8% from the quarter before. Operating margin was -125.2%, net loss $4.0M (302.1% of revenue).
XCel Brands, Q2 2025: revenue $1.3M (-55% year over year), operating margin -125.2%, net loss $4.0M, operating cash flow −$2.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3M | -0.8% | -55% |
| Operating profit | −$1.7M | — | — |
| Net earnings | −$4.0M | — | — |
| Operating cash flow | −$2.4M | — | — |
What changed
Revenue was $1.3M in Q2 2025, down 55% year over year and down 1% from the previous quarter.
Gross margin was 100.0%, up 1.3 points from a year earlier. Operating costs exceeded revenue by $1.7M, an operating margin of -125.2%. Operating expenses grew 14% against a revenue fall of 55%. The fastest-growing cost line was Other operating costs (+84%). The quarter ended with a net loss of $4.0M, wider than the previous quarter's $2.8M loss. Minority interests bore $3K of it: to shareholders the quarter was a loss of $4.0M. Net interest and other expense of $2.3M was the main reason.
Operating cash flow was −$2.4M. Non-cash charges added back $899K of depreciation and amortization and $129K of share-based compensation. Working capital and other items added $599K. Capital expenditures of −$4K exceeded it, leaving free cash flow of −$2.4M.
Questions
What was XCel Brands' revenue in the second quarter 2025?
XCel Brands (XELB) reported revenue of $1.3M for the second quarter 2025 (Q2 2025), -55% from a year earlier and -0.8% from the quarter before.
Was XCel Brands profitable in the second quarter 2025?
Operating loss was $1.7M (-125.2% of revenue) and net loss $4.0M.
Source: XCel Brands 10-Q on SEC EDGAR.