Xcel Brands Q4 Losses, Stock Down 5%

Xcel Brands reported Q4 adjusted loss of $0.32 per share on $1.2 million revenue, flat YoY and 85% below FY2024 full‑year revenue.
Adjusted EBITDA loss narrowed to $0.61 million, a 24% improvement, while direct operating costs fell 22% to $2.2 million.
Full‑year 2025 revenue dropped 42% to $4.9 million after divesting Lori Goldstein, yet EBITDA loss improved 35% YoY to $2.3 million.
Shares fell about 5.5% pre‑market; balance sheet shows $15.8 million equity, $1.2 million cash, $12.7 million term loan with $3.3 million due within 12 months.