The following is a summary of the Xcel Brands, Inc. (XELB) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Xcel Brands reported Q4 revenue of $2.3 million, a decrease of $1.8 million from Q4 2022 due to diminished product sales, but saw an increase in net licensing revenue.

• Total revenue for 2023 was $17.8 million, down $8 million from the previous year due to decreases in both licensing revenue and product sales.

• Direct operating costs and expenses for Q4 were at $5.5 million, down by $2.9 million or 34% from Q4 2022 due to restructuring.

• The company had a net loss of approximately $6.8 million or $0.34 per share in Q4 and an annual net loss of $21.1 million or minus $1.07 per share for 2023.

Business Progress:

• Xcel Brands completed its restructuring plan and outsourced its wholesale operations to industry-leading licensing partners.

• The new Tower Hill brand by Christie Brinkley is set to launch on HSN next month.

• C. Wonder by Christian Siriano generated $12.5 million retail sales in its first nine months and expects a rise in sales volume in 2024.

• The company launched its video and social commerce platform, ORME, with expectations of impacting video and social commerce in the US.

• Xcel Brands expects to return to profitability in 2024 due to progress in Project Fundamentals and organic growth in their brands.

• The company's stocks are undervalued, selling less than one to three quarter times EBITDA, presenting potential investment opportunities.

• With the completion of the business transformation, Xcel Brands expects transitional growth in 2024 and impactful growth in 2025.

More details: Xcel Brands IR

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