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XCel Brands vs Research Frontiers: XELB and REFR compared
XCel Brands is the larger company: $1.1M of revenue in its latest quarter (Q2 2026) against $77K for Research Frontiers (Q3 2026). XCel Brands is growing faster (-15% against -79% a year earlier). XCel Brands is more profitable, with an operating margin of -141.4% against -672.5%.
Where the money goes: XELB and REFR
XCel Brands (XELB) · Q2 2026
XCel Brands, Q2 2026: revenue $1.1M (-15% year over year), operating margin -141.4%, net loss $2.5M, operating cash flow −$1.9M. The chart follows the revenue to costs, profit and cash.
Research Frontiers (REFR) · Q3 2026
Research Frontiers, Q3 2026: revenue $77K (-79% year over year), operating margin -672.5%, net loss $510K, operating cash flow −$443K. The chart follows the revenue to costs, profit and cash.
| XCel Brands (XELB) | Research Frontiers (REFR) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $1.1M | $77K |
| Revenue growth, Y/Y | -15% | -79% |
| Operating margin | -141.4% | -672.5% |
| Net earnings | −$2.5M | −$510K |
| Net margin | -220.9% | -662.4% |
| Operating cash flow | −$1.9M | −$443K |
Questions
Which is bigger, XCel Brands or Research Frontiers?
XCel Brands is the larger company: $1.1M of revenue in its latest quarter (Q2 2026) against $77K for Research Frontiers (Q3 2026).
Is XCel Brands or Research Frontiers growing faster?
XCel Brands is growing faster (-15% against -79% a year earlier).
Which is more profitable, XCel Brands or Research Frontiers?
XCel Brands is more profitable, with an operating margin of -141.4% against -672.5%.
More: XCel Brands earnings · how XCel Brands makes money · Research Frontiers earnings · how Research Frontiers makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 13, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.