Filing Flows › XCel Brands (XELB) › Q4 2025
XCel Brands (XELB) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Apr 15, 2026
XCel Brands (XELB) reported revenue of $1.2M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +4% from the quarter before. Operating margin was -166.8%, net loss $2.8M (239.3% of revenue).
XCel Brands, Q4 2025: revenue $1.2M (-3% year over year), operating margin -166.8%, net loss $2.8M, operating cash flow −$1.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2M | +4% | -3% |
| Operating profit | −$1.9M | — | — |
| Net earnings | −$2.8M | — | — |
| Operating cash flow | −$1.8M | — | — |
What changed
Revenue was $1.2M in Q4 2025, down 3% year over year and up 4% from the previous quarter.
Gross margin was 100.0%, unchanged from Q4 2024. Operating costs exceeded revenue by $1.9M, an operating margin of -166.8%. Operating expenses fell 59% while revenue fell 3%. The quarter ended with a net loss of $2.8M, narrower than the previous quarter's $8.0M loss. Minority interests bore $18K of it: to shareholders the quarter was a loss of $2.8M.
Operating cash flow was −$1.8M. Non-cash charges added back $898K of depreciation and amortization and $224K of share-based compensation. Working capital and other items used $154K.
Questions
What was XCel Brands' revenue in the fourth quarter 2025?
XCel Brands (XELB) reported revenue of $1.2M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +4% from the quarter before.
Was XCel Brands profitable in the fourth quarter 2025?
Operating loss was $1.9M (-166.8% of revenue) and net loss $2.8M.
Source: XCel Brands 10-K on SEC EDGAR.