0001558370-23-014913 | 10-Q | XBRL Viewer

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Significant Contracts and Concentrations - Qurate Agreements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Product Information [Line Items]
Net revenue	$ 6,781	$ 8,467	$ 12,831	$ 17,214
Accounts receivable	6,878		6,878		$ 5,110
Net licensing revenue
Product Information [Line Items]
Net revenue	$ 2,428	$ 5,175	$ 4,650	$ 11,136
Sales [Member] \| Customer Concentration Risk [Member] \| Qurate
Product Information [Line Items]
Concentration Risk, Percentage	26.00%	48.00%	26.00%	53.00%
Sales [Member] \| Customer Concentration Risk [Member] \| Qurate \| Net licensing revenue
Product Information [Line Items]
Net revenue	$ 1,760	$ 4,050	$ 3,280	$ 9,060
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Qurate
Product Information [Line Items]
Concentration Risk, Percentage			23.00%		17.00%
Accounts receivable	$ 1,600		$ 1,600		$ 900

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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+ Details

Stockholders' Equity

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

8. Stockholders’ Equity

Equity Incentive Plans

A total of 4,000,000 shares of common stock are eligible for issuance under the Company’s 2021 Equity Incentive Plan (the “2021 Plan”). The 2021 Plan provides for the grant of any or all of the following types of awards: stock options (incentive or non-qualified), restricted stock, restricted stock units, performance awards, or cash awards. The 2021 Plan is administered by the Company’s Board of Directors, or, at the Board’s discretion, a committee of the Board.

In addition, stock-based awards (including options, warrants, and restricted stock) previously granted under the Company’s 2011 Equity Incentive Plan (the “2011 Plan”) remain outstanding and shares of common stock may be issued to satisfy options or warrants previously granted under the 2011 Plan, although no new awards may be granted under the 2011 Plan.

Stock-based Compensation

The Company accounts for stock-based compensation in accordance with Accounting Standards Codification (“ASC”) Topic 718, “Compensation - Stock Compensation,” by recognizing the fair value of stock-based compensation as an operating expense over the service period of the award or term of the corresponding contract, as applicable. Forfeitures

are accounted for as a reduction of compensation cost in the period when such forfeitures occur. For stock option awards for which vesting is contingent upon the achievement of certain performance targets, the timing and amount of compensation expense recognized is based upon the Company’s projections and estimates of the relevant performance metric(s) until the time the performance obligation is satisfied. Expense for such awards is recognized only to the extent that the achievement of the specified performance target(s) has been met or is considered probable.

Total expense recognized in the current quarter and prior year quarter for all forms of stock-based compensation was approximately $0.06 million and $0.58 million, respectively. Of the current quarter expense amount, substantially all of the expense related to directors and consultants, and was recorded within “other selling, general and administrative expenses” in the accompanying condensed consolidated statements of operations. Of the prior year quarter expense amount, approximately $0.39 million related to employees and approximately $0.19 million related to directors and consultants. Approximately $0.48 million of the prior year quarter expense was recorded as operating costs, and approximately $0.10 million was recorded as a reduction to other income.

Total expense recognized in the current six months and prior year six months for all forms of stock-based compensation was approximately $0.12 million and $0.61 million, respectively. Of the current six months expense amount, substantially all of the expense related to directors and consultants, and was recorded within “other selling, general and administrative expenses” in the accompanying condensed consolidated statements of operations. Of the prior year six months expense amount, approximately $0.40 million related to employees and approximately $0.21 million related to directors and consultants. Approximately $0.51 million of the prior year six months expense was recorded as operating costs, and approximately $0.10 million was recorded as a reduction to other income.

Stock Options

A summary of the Company’s stock options activity for the current six months is as follows:


				Weighted
				Average
		Weighted		Remaining
		Average		Contractual	Aggregate
	Number of	Exercise		Life	Intrinsic
	Options	Price		(in Years)	Value
Outstanding at January 1, 2023	5,614,310	$	2.12	4.76	$	—
Granted	—		—
Exercised	(22,750)		1.00
Expired/Forfeited	(472,140)		3.84
Outstanding at June 30, 2023, and expected to vest	5,119,420	$	2.04	4.59	$	—
Exercisable at June 30, 2023	1,556,920	$	2.76	2.19	$	—

Compensation expense related to stock options for the current quarter and the prior year quarter was approximately $0.02 million and $0.38 million, respectively. Compensation expense related to stock options for the current six months and the prior year six months was approximately $0.05 million and $0.40 million, respectively. Total unrecognized compensation expense related to unvested stock options at June 30, 2023 was approximately $0.05 million and is expected to be recognized over a weighted average period of approximately 0.79 years.

A summary of the Company’s non-vested stock options activity for the current six months is as follows:


		Weighted
		Average
	Number of	Grant Date
	Options	Fair Value
Balance at January 1, 2023	3,697,500	$	0.05
Granted	—		—
Vested	(135,000)		0.68
Forfeited or Canceled	—		—
Balance at June 30, 2023	3,562,500	$	0.02

Warrants

A summary of the Company’s warrants activity for the current six months is as follows:


				Weighted
				Average
		Weighted		Remaining
		Average		Contractual	Aggregate
	Number of	Exercise		Life	Intrinsic
	Warrants	Price		(in Years)	Value
Outstanding and exercisable at January 1, 2023	116,065	$	3.15	1.57	$	—
Granted	1,000,000		1.50
Exercised	—		—
Expired/Forfeited	—		—
Outstanding at June 30, 2023	1,116,065	$	1.67	8.97	$	88,009
Exercisable at June 30, 2023	116,065	$	3.15	1.09	$	—

On May 15, 2023, in connection with the Halston Master License (see Note 4), the Company issued to a licensee a ten-year warrant to purchase up to 1,000,000 shares of the Company’s common stock at an exercise price of $1.50 per share, which vest based upon certain annual royalty targets being satisfied under the license agreement. The fair value of the warrants will be recognized as a reduction of revenue over the term of the related license agreement, with an offsetting increase to stockholders’ equity as additional paid-in capital.

No compensation expense related to warrants was recognized in the current quarter, prior year quarter, current six months, or prior year six months.

Stock Awards

A summary of the Company’s restricted stock activity for the current six months is as follows:


		Weighted
	Number of	Average
	Restricted	Grant Date
	Shares	Fair Value
Outstanding at January 1, 2023	333,333	$	3.71
Granted	66,668		0.67
Vested	(66,668)		0.67
Expired/Forfeited	—		—
Outstanding at June 30, 2023	333,333	$	3.71

On January 1, 2023, the Company issued 8,334 shares of common stock to a consultant, which vested immediately.

On April 17, 2023, the Company issued 8,334 shares of common stock to a consultant, which vested immediately.

On May 15, 2023, the Company issued 50,000 shares of common stock to a consultant, which vested immediately.

Compensation expense related to stock awards was approximately $0.05 million for the current quarter and approximately $0.20 million for the prior year quarter. Compensation expense related to stock awards was approximately $0.08 million for the current six months and approximately $0.21 million for the prior year six months. Total unrecognized compensation expense related to unvested restricted stock grants at June 30, 2023 was approximately $0.03 million and is expected to be recognized over a weighted average period of approximately 0.79 years.

Restricted Stock Units

There were no restricted stock units outstanding as of June 30, 2023 and December 31, 2022, and no restricted stock units have been issued since the inception of the 2021 Plan.

Shares Available Under the Company’s Equity Incentive Plans

As of June 30, 2023, there were 3,302,241 shares of common stock available for award grants under the 2021 Plan.

Shares Reserved for Issuance

As of June 30, 2023, there were 8,537,726 shares of common stock reserved for issuance, including 4,898,135 shares reserved pursuant to unexercised warrants and stock options previously granted under the 2011 Plan, 337,350 shares reserved pursuant to unexercised stock options granted under the 2021 Plan, and 3,302,241 shares available for issuance under the 2021 Plan.

- Definition

The entire disclosure for equity.

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+ Details

Nature of Operations, Background, and Basis of Presentation

6 Months Ended

Jun. 30, 2023

Nature of Operations, Background, and Basis of Presentation [Abstract]

Nature of Operations, Background, and Basis of Presentation

1. Nature of Operations, Background, and Basis of Presentation

The accompanying condensed consolidated balance sheet as of December 31, 2022 (which has been derived from audited financial statements) and the unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X promulgated by the United States Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements were prepared following the same policies and procedures used in the preparation of the audited consolidated financial statements and reflect all adjustments (consisting of normal recurring adjustments) necessary to present fairly the results of operations, financial position, and cash flows of Xcel Brands, Inc. and its subsidiaries (the “Company” or "Xcel"). The results of operations for the interim periods presented herein are not necessarily indicative of the results for the entire fiscal year or for any future interim periods. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on April 17, 2023.

The Company is a media and consumer products company engaged in the design, production, marketing, live streaming, wholesale distribution, and direct-to-consumer sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands.

Currently, the Company’s brand portfolio consists of the LOGO by Lori Goldstein brand (the “Lori Goldstein Brand”), the Halston brands (the "Halston Brand"), the Judith Ripka brands (the "Ripka Brand"), the C Wonder brands (the "C Wonder Brand"), the Longaberger brand (the “Longaberger Brand”), the Isaac Mizrahi brands (the "Isaac Mizrahi Brand"), and other proprietary brands.

●

The Lori Goldstein Brand, Halston Brand, Ripka Brand, and C Wonder Brand are wholly owned by the Company.

●

The Company manages the Longaberger Brand through its 50% ownership interest in Longaberger Licensing, LLC; the Company consolidates Longaberger Licensing, LLC and recognizes noncontrolling interest for the remaining ownership interest held by a third party.

●

The Company manages the Q Optix business through its 50% ownership interest in Q Optix, LLC; the Company consolidates Q Optix, LLC and recognizes noncontrolling interest for the remaining ownership interest held by a third party.

●

The Company wholly owned and managed the Isaac Mizrahi Brand through May 31, 2022. On May 31, 2022, the Company sold to a third party a majority interest in a newly-created subsidiary that was formed to hold the Isaac Mizrahi Brand trademarks, but retained a noncontrolling interest in the brand through a 30% ownership interest in IM Topco, LLC, and continues to contribute to the operations of the brand through a service agreement (see Note 11 for additional details). The Company accounts for its interest in IM Topco, LLC using the equity method of accounting.

The Company designs, produces, markets, and distributes products, licenses its brands to third parties, and generates licensing revenues through contractual arrangements with manufacturers and retailers. The Company and its licensees distribute through an omni-channel retail sales strategy, which includes distribution through interactive television, digital live-stream shopping, wholesale, and e-commerce channels to be everywhere its customers shop.

The Company’s wholesale and direct-to-consumer operations are presented as "Net sales" and "Cost of goods sold" in the Condensed Consolidated Statements of Operations, separately from the Company’s net licensing revenue.

Liquidity and Management’s Plans

The Company incurred a net loss attributable to Company stockholders of approximately $3.5 million and $9.1 million during the three and six months ended June 30, 2023, respectively (which included net non-cash expenses of approximately $1.7 million and $4.0 million, respectively), and had an accumulated deficit of approximately $41.9 million as of June 30, 2023. Net cash used in operating activities was approximately $1.5 million for the six months ended June 30, 2023. The Company had working capital (current assets less current liabilities, excluding the current portion of lease obligations and any contingent obligations payable in common stock) of approximately $6.0 million as of June 30, 2023. The Company’s cash and cash equivalents were approximately $3.5 million as of June 30, 2023. The aforementioned factors raise uncertainties about the Company’s ability to continue as a going concern.

Management implemented a plan to mitigate an expected shortfall of capital and to support future operations by shifting the business from a wholesale/licensing hybrid model into a “licensing-plus” business model. In the first quarter of 2023, the Company began to restructure its business operations by entering into new licensing agreements and joint venture arrangements with best-in-class business partners. The Company entered into a new interactive television licensing agreement with America’s Collectibles Network, Inc. d/b/a Jewelry Television (“JTV”) for the Ripka Brand, and a separate license with JTV for the Ripka Brand’s e-commerce business. For apparel, similar transactions have recently been executed. In conjunction with the launch of the C Wonder Brand on HSN, the Company licensed the wholesale operations related to the brand to One Jeanswear Group, LLC (“OJG”); this new license with OJG also includes certain other new celebrity brands that the Company plans to develop and launch in 2023 and beyond. For the Halston Brand, on May 15, 2023, the Company entered into a new master license agreement for men’s, women’s, and children’s apparel, fashion accessories, and other product categories with an industry-leading wholesale apparel company for distribution through department stores, e-commerce, and other retailers (see Note 4). This new master license for the Halston Brand provides for an upfront cash payment and royalties, including certain guaranteed minimum royalties to the Company, includes significant annual minimum net sales requirements, and has a twenty-five-year term (consisting of an initial five-year period, followed by a twenty-year period), subject to the licensee’s right to terminate with at least 120 days’ notice prior to the end of each five-year period during the term.

The transition of these operating businesses was substantially completed as of June 30, 2023. Management believes that this evolution of the Company’s operating model will provide the Company with significant cost savings and allow the Company to reduce and better manage its exposure to operating risks. As of June 30, 2023, the Company has reduced payroll costs by approximately $6 million and operating expenses by approximately $7 million, on an annualized basis when compared to the corresponding periods in the prior year.

Based on these recent events and changes in the Company’s business model, management expects to generate adequate cash flows to meet the Company’s operating and capital expenditure needs, for at least the twelve months subsequent to the filing date of this Quarterly Report on Form 10-Q, and therefore, such conditions and uncertainties with respect to the Company’s ability to continue as a going concern as of June 30, 2023, have been alleviated.

Recently Adopted Accounting Pronouncements

The Company adopted the provisions of Accounting Standards Update (“ASU”) No. 2016-13, "Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (as amended by ASU No. 2018-19 in November 2018, ASU No. 2019-05 in May 2019, ASU No. 2019-10 and 2019-11 in November 2019, ASU No. 2020-02 in February 2020, and ASU No. 2022-02 in March 2022) effective January 1, 2023. This ASU requires entities to estimate lifetime expected credit losses for financial instruments, including trade and other receivables, which will result in earlier recognition of credit losses. The adoption of this new guidance did not have a significant impact on the Company’s results of operations, cash flows, or financial condition.

Stockholders' Equity - Restricted Stock (Details) - shares	Jun. 30, 2023	Dec. 31, 2022
Stockholders' Equity
Common stock, shares outstanding (in shares)	19,700,656	19,624,860
Common stock, shares issued (in shares)	19,700,656	19,624,860
Restricted Stock
Stockholders' Equity
Common stock, shares outstanding (in shares)	0
Common stock, shares issued (in shares)	0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Accounts Receivable [Abstract]
Allowance for doubtful accounts receivable	$ 0	$ 0
Write offs or recoveries		0
Bad debt expense		0	$ 90
Accounts receivable, assigned to third party agent for collection	1,180	1,180		$ 1,650
Accounts receivable, collection agent fees	$ 20	$ 70

Stockholders' Equity - Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stockholders' Equity
Compensation expense	$ 60	$ 580	$ 120	$ 610
Operating cost			$ 122	517
Costs and Expenses
Stockholders' Equity
Compensation expense		480		510
Other income
Stockholders' Equity
Compensation expense		100		100
Non Management Directors
Stockholders' Equity
Compensation expense		190		210
Employee
Stockholders' Equity
Compensation expense		$ 390		$ 400

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Income Taxes

6 Months Ended

Jun. 30, 2023

Income Taxes

Income Taxes

10. Income Taxes

The estimated annual effective income tax rate for the current quarter and the prior year quarter was approximately 0% and 25%, respectively, resulting in an income tax (benefit) provision of $0 and $3.18 million, respectively.

For the current quarter, the federal statutory rate differed from the effective tax rate due to the recording of a valuation allowance against the benefit that would have otherwise been recognized, as it was considered not more likely than not that the net operating losses generated during each period will be utilized in future periods.

For the prior year quarter, the federal statutory rate differed from the effective tax rate primarily due to recurring permanent differences, state taxes, and the discrete treatment of stock compensation shortfall, which increased the effective tax rate by approximately 10%, partially offset by the reversal of a valuation allowance that was previously recorded in the first quarter of 2022, which decreased the effective tax rate by approximately 6%.

The estimated annual effective income tax rate for the current six months and the prior year six months was approximately 0% and 35%, respectively, resulting in an income tax (benefit) provision of $0 and $3.18 million, respectively.

For the current six months, the federal statutory rate differed from the effective tax rate due to the recording of a valuation allowance against the benefit that would have otherwise been recognized, as it was considered not more likely than not that the net operating losses generated during each period will be utilized in future periods.

For the prior year six months, the federal statutory rate differed from the effective tax rate primarily due to recurring permanent differences, state taxes, and the discrete treatment of stock compensation shortfall, which increased the effective tax rate by approximately 14%.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 17
-Subparagraph (b)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Summary of Stock Option Activity


				Weighted
				Average
		Weighted		Remaining
		Average		Contractual	Aggregate
	Number of	Exercise		Life	Intrinsic
	Options	Price		(in Years)	Value
Outstanding at January 1, 2023	5,614,310	$	2.12	4.76	$	—
Granted	—		—
Exercised	(22,750)		1.00
Expired/Forfeited	(472,140)		3.84
Outstanding at June 30, 2023, and expected to vest	5,119,420	$	2.04	4.59	$	—
Exercisable at June 30, 2023	1,556,920	$	2.76	2.19	$	—

Summary of Stock Option Activity for Non-Vested Options


		Weighted
		Average
	Number of	Grant Date
	Options	Fair Value
Balance at January 1, 2023	3,697,500	$	0.05
Granted	—		—
Vested	(135,000)		0.68
Forfeited or Canceled	—		—
Balance at June 30, 2023	3,562,500	$	0.02

Summary of Warrant Activity


				Weighted
				Average
		Weighted		Remaining
		Average		Contractual	Aggregate
	Number of	Exercise		Life	Intrinsic
	Warrants	Price		(in Years)	Value
Outstanding and exercisable at January 1, 2023	116,065	$	3.15	1.57	$	—
Granted	1,000,000		1.50
Exercised	—		—
Expired/Forfeited	—		—
Outstanding at June 30, 2023	1,116,065	$	1.67	8.97	$	88,009
Exercisable at June 30, 2023	116,065	$	3.15	1.09	$	—

Summary of Restricted Stock Activity


		Weighted
	Number of	Average
	Restricted	Grant Date
	Shares	Fair Value
Outstanding at January 1, 2023	333,333	$	3.71
Granted	66,668		0.67
Vested	(66,668)		0.67
Expired/Forfeited	—		—
Outstanding at June 30, 2023	333,333	$	3.71

Accounts Receivable

6 Months Ended

Jun. 30, 2023

Accounts Receivable [Abstract]

Accounts Receivable

5. Accounts Receivable

Accounts receivable are presented on the Company’s condensed consolidated balance sheets net of allowances for credit losses. Such allowances were approximately $0.0 million as of both June 30, 2023 and December 31, 2022. The Company did not recognize any credit loss expense in the current quarter or current six months. There were no significant write-offs or recoveries in the current quarter or current six months.

Credit loss expense recognized in the prior year quarter and prior year six months was $0.09 million.

The allowance for credit losses is determined based upon a variety of judgments and factors. Factors considered in determining the allowance include historical collection, write-off experience, and management's assessment of collectibility from customers, including current conditions, reasonable forecasts, and expectations of future collectibility and collection efforts. Management continuously assesses the collectibility of receivables and adjusts estimates based on actual experience and future expectations based on economic indicators. Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written-off against the allowance for credit losses when such balances are deemed to be uncollectible.

Also, as of June 30, 2023 and December 31, 2022, approximately $1.18 million and $1.65 million, respectively, of the Company's outstanding receivables were assigned to a third-party agent pursuant to a services agreement entered into during the third quarter of 2022, under which the Company assigned, for purposes of collection only, the right to collect certain specified receivables on the Company's behalf and solely for the Company's benefit. Under such agreement, the Company retains ownership of such assigned receivables, and receives payment from the agent (less certain fees charged by the agent) upon the agent's collection of the receivables from customers. During the current quarter and current six months, the Company paid approximately $0.02 million and $0.07 million in fees to the agent under the aforementioned services agreement.

Summary of Significant Accounting Policies - Accounts Receivable 10K (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Summary of Significant Accounting Policies [Abstract]
Accounts receivable	$ 6,878	$ 6,878		$ 5,110
Allowance for doubtful accounts	0	0
Bad debt expense		0	$ 90
Accounts receivable, assigned to third party agent for collection	1,180	1,180		$ 1,650
Accounts receivable, collection agent fees	$ 20	$ 70

Related Party Transactions - Isaac Mizrahi (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	May 31, 2022
Restricted Stock
Asset Purchase Agreement
Number of shares vested		66,668
IM Topco [Member] \| License Agreement
Asset Purchase Agreement
Royalty guarantees	$ 400,000	$ 400,000
Recognized royalty expense	60,000	120,000
Related Party [Member] \| IM Topco [Member] \| Services Agreement
Asset Purchase Agreement
Due from related party			$ 300,000
Revenue from services provided	$ 75,000	$ 150,000

Significant Contracts

3 Months Ended

Mar. 31, 2023

Risks and Uncertainties [Abstract]

Significant Contracts and Concentrations

4. Significant Contracts and Concentrations

Halston Master License

On May 15, 2023, the Company, through its subsidiaries, H Halston, LLC and H Heritage Licensing, LLC (collectively, the “Licensor”), entered into a master license agreement relating to the Halston Brand (the “Halston Master License”) with an industry-leading wholesale apparel company, for men’s and women’s apparel, men’s and women’s fashion accessories, children’s apparel and accessories, home, airline amenity and amenity kits, and such other product categories as mutually agreed upon. The Halston Master License provides for an upfront cash payment and royalties payable to the Company, including certain guaranteed minimum royalties, includes significant annual minimum net sales requirements, and has a twenty-five-year term (consisting of an initial five-year period, followed by a twenty-year period), subject to the licensee’s right to terminate with at least 120 days’ notice prior to the end of each five-year period during the term. The licensee has

an option to purchase the Halston Brand for $5.0 million at the end of the twenty-five-year term, which right may be accelerated under certain conditions associated with an uncured material breach of the Halston Master License in accordance with the terms of the Halston Master License. The Licensor granted to the licensee a security interest in the Halston trademarks to secure the Licensor’s obligations under the Halston Master License, including to honor the obligations under the purchase option. In connection with the Halston Master License, the Company issued to the licensee a ten-year warrant to purchase up to 1,000,000 shares of the Company’s common stock at an exercise price of $1.50 per share, which vest based upon certain annual royalty targets being satisfied.

As a result of the upfront cash payment and guaranteed minimum royalties discussed above, the Company has recognized $4.89 million of deferred revenue contract liabilities on its condensed consolidated balance sheet as of June 30, 2023 related to this contract, of which $0.89 million was classified as a current liability and $4.00 million was classified as a long-term liability. The balance of the deferred revenue contract liabilities will be recognized ratably as revenue over the next 5.5 years. Net licensing revenue recognized from the Halston Master License was $0.33 million for the current quarter and current six months.

Qurate Agreements

Under the Company’s agreements with Qurate Retail Group (“Qurate”), collectively referred to as the Qurate Agreements, Qurate is obligated to make payments to the Company on a quarterly basis, based primarily upon a percentage of net retail sales of certain specified branded merchandise. Net retail sales are defined as the aggregate amount of all revenue generated through the sale of the specified branded products by Qurate and its subsidiaries under the Qurate Agreements, net of customer returns, and excluding freight, shipping and handling charges, and sales, use, or other taxes. Net licensing revenue from the Qurate Agreements represents a significant portion of the Company’s total net revenue.

●

Net licensing revenue from the Qurate Agreements totaled $1.76 million and $4.05 million for the current quarter and prior year quarter, respectively, representing approximately 26% and 48% of the Company’s total net revenue for the current quarter and prior year quarter, respectively. The prior year quarter included revenues from Qurate Agreement related to the Isaac Mizrahi Brand; such agreement was assigned to IM Topco on May 31, 2022.

●

Net licensing revenue from the Qurate Agreements totaled $3.28 million and $9.06 million for the current six months and prior year six months, respectively, representing approximately 26% and 53% of the Company’s total net revenue for the current quarter and prior year quarter, respectively. The prior year six months included revenues from Qurate Agreement related to the Isaac Mizrahi Brand; such agreement was assigned to IM Topco on May 31, 2022.

●

As of June 30, 2023 and December 31, 2022, the Company had receivables from Qurate of $1.6 million and $0.9 million, respectively, representing approximately 23% and 17% of the Company’s total net accounts receivable, respectively.

Trademarks and Other Intangibles - Schedule of Trademarks and Other Intangibles (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Trademarks and Other Intangibles
Gross Carrying Amount (definite-lived)	$ 69,309
Gross Carrying Amount, Total		$ 69,309
Accumulated Amortization	24,719	21,644
Net Carrying Amount	44,590
Net Carrying Amount, Total	$ 44,590	$ 47,665
Trademarks (finite-lived)
Trademarks and Other Intangibles
Weighted Average Amortization Period	15 years	15 years
Gross Carrying Amount (definite-lived)	$ 68,880	$ 68,880
Accumulated Amortization	24,391	21,346
Net Carrying Amount	$ 44,489	$ 47,534
Copyrights and other intellectual property
Trademarks and Other Intangibles
Weighted Average Amortization Period	8 years	8 years
Gross Carrying Amount (definite-lived)	$ 429	$ 429
Accumulated Amortization	328	298
Net Carrying Amount	$ 101	$ 131

Equity Method Investment

3 Months Ended

Mar. 31, 2023

Equity Method Investment, Summarized Financial Information [Abstract]

Equity Method Investment

2. Equity Method Investment

IM Topco, LLC

On May 27, 2022, Xcel (along with IM Topco, LLC (“IM Topco”) and IM Brands, LLC (“IMB”), both wholly owned subsidiaries of the Company) and IM WHP, LLC (“WHP”), a subsidiary of WHP Global, a private equity-backed brand management and licensing company, entered into a membership purchase agreement. Pursuant to this agreement, on May 31, 2022, (i) the Company contributed assets owned by IMB, including the Isaac Mizrahi Brand trademarks and other intellectual property rights relating thereto into IM Topco, and (ii) the Company sold 70% of the membership interests of IM Topco to WHP.

The purchase price paid by WHP to the Company at the closing of the transaction consisted of $46.2 million in cash. The Company incurred approximately $0.9 million of expenses directly related to this transaction, including legal fees and agent fees, of which $0.1 million of the agent fees were paid through the issuance of 65,275 shares of the Company’s common stock, which were recognized as a reduction to the gain from the transaction. The Company recognized a net pre-tax gain from the transaction of $20.6 million, which is classified within “other expense (income), including non-cash expenses” in the condensed consolidated statements of operations for the three and six months ended June 30, 2022.

The Company accounts for its 30% interest in the ongoing operations of IM Topco as other expense (income) under the equity method of accounting. Pursuant to the business venture agreement between the Company and WHP governing the operation of IM Topco, IM Topco’s net cash flow (as defined in the agreement) shall be distributed to the members during each fiscal year no less than once per fiscal quarter, as follows:

(i)

first, 100% to WHP, until WHP has received an aggregate amount during such fiscal year equal to $8,852,000 (subject to adjustment in certain circumstances as set forth in the agreement);

(ii)

second, 100% to Xcel, until Xcel has received an aggregate amount during such fiscal year equal to $1,316,200 (subject to adjustment in certain circumstances as set forth in the agreement); and

(iii)

thereafter, in proportion to the members’ respective percentage interests.

Based on these distribution provisions, the Company recognized an equity method loss of $0.52 million and $1.03 million related to its investment for the three and six months ended June 30, 2023, respectively. The Company did not recognize any equity income or loss related to its investment for the three and six months ended June 30, 2022.

Summarized financial information for IM Topco for the three and six months ended June 30, 2023 is as follows:


	For the three		For the six
	months ended		months ended
	June 30,		June 30,
($ in thousands)	2023			2023
Revenues	$	3,573	$	6,919
Gross profit		3,573		6,919
Income from continuing operations		206		113
Net income		206		113

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income (loss)	$ (3,701)	$ 9,189	$ (9,639)	$ 5,450
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	1,786	1,812	3,583	3,632
Asset impairment charges			100
Amortization of deferred finance costs included in interest expense				156
Stock-based compensation			122	517
Provision for doubtful accounts				90
Undistributed proportional share of net loss of equity method investee			1,030
Loss on early extinguishment of debt		2,324		2,324
Deferred income tax (benefit) provision				1,384
Gain on sale of majority interest in Isaac Mizrahi brand		(20,608)		(20,608)
Gain on sale of limited partner ownership interest	(351)		(351)
Gain on settlement of lease liability	(445)		(445)
Changes in operating assets and liabilities:
Accounts receivable			(1,768)	(1,741)
Inventory			2,047	(100)
Prepaid expenses and other current and non-current assets			863	8
Deferred revenue			5,041	347
Accounts payable, accrued expenses, accrued payroll, accrued income taxes payable, and other current liabilities			(1,637)	205
Lease-related assets and liabilities			(417)	(159)
Other liabilities				(224)
Net cash used in operating activities			(1,471)	(8,719)
Cash flows from investing activities
Net proceeds from sale of majority interest in Isaac Mizrahi brand				45,408
Net proceeds from sale of assets			451
Purchase of property and equipment			(81)	(85)
Net cash provided by (used in) investing activities			370	45,323
Cash flows from financing activities
Shares repurchased including vested restricted stock in exchange for withholding taxes				(442)
Payment of long-term debt				(29,000)
Payment of prepayment, breakage and other fees associated with early extinguishment of long-term debt				(1,511)
Net cash (used in) provided by financing activities				(30,953)
Net (decrease) increase in cash and cash equivalents			(1,101)	5,651
Cash and cash equivalents at beginning of period			4,608	5,222
Cash and cash equivalents at end of period	3,507	10,873	3,507	10,873
Reconciliation to amounts on consolidated balance sheets:
Cash and cash equivalents	3,507		3,507
Total cash, cash equivalents, and restricted cash	$ 3,507	$ 10,873	3,507	10,873
Supplemental disclosure of cash flow information:
Cash paid during the period for interest				$ 1,032
Cash paid during the period for income taxes			$ 16

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12. Commitments and Contingencies

Contingent Obligation – Lori Goldstein Earn-Out

In connection with the April 1, 2021 purchase of the Lori Goldstein trademarks, the Company agreed to pay the seller additional cash consideration (the “Lori Goldstein Earn-Out”) of up to $12.5 million, based on royalties earned during the six calendar year period commencing in 2021. The Lori Goldstein Earn-Out was initially recorded as a liability of $6.6 million, based on the difference between the fair value of the acquired assets of the Lori Goldstein brand and the total consideration paid, in accordance with the guidance in Accounting Standards Codification Subtopic 805-50. Based on the performance of the Lori Goldstein brand through December 31, 2022, approximately $0.2 million of additional consideration has been earned by the seller to date, and this amount was paid to the seller in the current six months. At December 31, 2022, $0.2 million of the balance was recorded as a current liability and $6.4 million was recorded as a

long-term liability. At June 30, 2023, $1.4 million of the remaining balance was recorded as a current liability and $5.0 million was recorded as a long-term liability.

Contingent Obligation – Isaac Mizrahi Transaction

In connection with the May 31, 2022 transaction related to the sale of a majority interest in the Isaac Mizrahi Brand (see Note 2), the Company agreed with WHP that, in the event that IM Topco receives less than $13.3 million in aggregate royalties for any four consecutive calendar quarters over a three-year period ending on May 31, 2025, WHP will be entitled to receive from the Company up to $16 million, less all amounts of net cash flow distributed to WHP on an accumulated basis, as an adjustment to the purchase price previously paid by WHP. Such amount would be payable by the Company in either cash or equity interests in IM Topco held by the Company. No amount has been recorded in the accompanying condensed consolidated balance sheets related to this contingent obligation, and management believes the likelihood of any such payment is remote. Based on IM Topco’s earnings from May 31, 2022 through June 30, 2023 and the applicable distribution provisions, WHP earned $7.9 million in cash flow, which reduces the maximum potential purchase price adjustment to $8.1 million.

Legal Proceedings

From time to time, the Company becomes involved in legal claims and litigation in the ordinary course of business. In the opinion of management, based on consultations with legal counsel, the disposition of litigation currently pending against the Company is unlikely to have, individually or in the aggregate, a materially adverse effect on the Company’s business, financial position, results of operations, or cash flows. The Company routinely assesses all its litigation and threatened litigation as to the probability of ultimately incurring a liability, and records its best estimate of the ultimate loss in situations where it assesses the likelihood of loss as probable.

Stockholders' Equity - Warrants (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Stockholders' Equity - Warrants (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	May 15, 2023
Other disclosures
Purchaseable stock	19,700,656		19,700,656		19,624,860
Compensation expense	$ 60,000.00	$ 580,000	$ 120,000	$ 610,000
Halston License
Other disclosures
Warrant term						10 years
Purchaseable stock						1,000,000
Warrants outstanding, exercise price (in dollars per share)						$ 1.50
Warrants
Number of Other than Options
Outstanding and exercisable, beginning balance (in shares)			116,065
Granted (in shares)			1,000,000
Exercised (in shares)			0
Expired/Forfeited (in shares)			0
Outstanding, ending balance (in shares)	1,116,065		1,116,065		116,065
Exercisable (in shares)	116,065		116,065
Weighted Average Exercise Price
Outstanding and exercisable, beginning balance (in dollars per share)			$ 3.15
Granted (in dollars per share)			1.50
Exercised (in dollars per share)			0
Expired/Forfeited (in dollars per share)			0
Outstanding, ending balance (in dollars per share)	$ 1.67		1.67		$ 3.15
Exercisable, ending balance (in dollars per share)	$ 3.15		$ 3.15
Weighted Average Remaining Contractual Life (in Years), Outstanding			8 years 11 months 19 days		1 year 6 months 25 days
Weighted Average Contractual Life (in Years), Exercisable			1 year 1 month 2 days
Aggregate Intrinsic Value, Outstanding	$ 88,009		$ 88,009		$ 0
Aggregate Intrinsic Value, Exercisable	0		0
Other disclosures
Compensation expense	$ 0	$ 0	$ 0	$ 0

Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings (Loss) Per Share [Abstract]

Schedule of the basic and diluted net loss per share


	Three Months Ended					Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Numerator:
Net (loss) income attributable to Xcel Brands, Inc. stockholders (in thousands)	$	(3,468)	$	9,490	$	(9,111)	$	6,003

Denominator:
Basic weighted average number of shares outstanding		19,735,500		19,677,243		19,684,630		19,624,474
Add: Effect of warrants		—		657		—		639
Add: Effect of stock options		—		136,548		—		131,662
Diluted weighted average number of shares outstanding		19,735,500		19,814,448		19,684,630		19,756,775

Basic net loss per share	$	(0.18)	$	0.48	$	(0.46)	$	0.31
Diluted net loss per share	$	(0.18)	$	0.48	$	(0.46)	$	0.30

Anti-dilutive Securities Excluded from Computation of Earnings (Loss) Per Share


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2023	2022	2023	2022
Stock options	5,119,420	5,781,890	5,119,420	5,781,890
Warrants	1,116,065	116,065	1,116,065	116,065
Total	6,235,485	5,897,955	6,235,485	5,897,955

Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

6. Leases

The Company has an operating lease for its corporate offices and operations facility, as well as certain equipment with a term of 12 months or less. As of June 30, 2023, the Company’s real estate lease has a remaining lease term of approximately 4.3 years, and the lease liability is measured using a discount rate of 6.25%.

Lease expense included in selling, general and administrative expenses on the Company’s unaudited condensed consolidated statements of operations was approximately $0.4 million for both the current quarter and prior year quarter, approximately $0.8 million for the current six months, and approximately $0.7 million for the prior year six months.

Cash paid for amounts included in the measurement of operating lease liabilities was approximately $0.4 million in both the current quarter and prior year quarter, approximately $0.8 million in the current six months, and approximately $1.0 million in the prior year six months.

Also, the Company was previously a party to an operating lease for its former retail store location, which was closed in 2022. During the three months ended June 30, 2023, the Company successfully negotiated a settlement with the lessor resulting in the termination of this lease. Under the settlement agreement, the Company paid $0.07 million to the lessor in May 2023, and agreed to make two subsequent payments of approximately $0.11 million each to the lessor on or before July 31, 2023 and October 31, 2023. The Company recognized a liability of $0.23 million for these remaining payments as part of “accounts payable, accrued expenses and other current liabilities” on the condensed consolidated balance sheet as of June 30, 2023. The Company recognized a gain of $0.44 million from this settlement transaction, which is classified within “other expense (income), including non-cash expenses” in the condensed consolidated statements of operations for the three and six months ended June 30, 2023.

As of June 30, 2023, the maturities of lease obligations were as follows:


($ in thousands)
2023 (July 1 through December 31)	$	776
2024		1,552
2025		1,552
2026		1,552
2027		1,294
Thereafter		-
Total lease payments		6,726
Less: Discount		847
Present value of lease liabilities		5,879
Current portion of lease liabilities		1,219
Non-current portion of lease liabilities	$	4,660

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues
Net revenue	$ 6,781	$ 8,467	$ 12,831	$ 17,214
Cost of goods sold	3,800	2,570	6,493	4,250
Gross profit	2,981	5,897	6,338	12,964
Direct operating costs and expenses
Salaries, benefits and employment taxes	2,241	5,236	5,706	10,089
Other selling, general and administrative expenses	2,943	4,288	6,436	7,712
Total direct operating costs and expenses	5,184	9,524	12,142	17,801
Operating loss before other operating costs and expenses (income)	(2,203)	(3,627)	(5,804)	(4,837)
Other operating costs and expenses (income)
Depreciation and amortization expense	1,786	1,812	3,583	3,632
Gain on sale of majority interest in Isaac Mizrahi brand		(20,608)		(20,608)
Loss from equity method investment	515		1,030
Gain on sale of limited partner ownership interest	(351)		(351)
Gain on settlement of lease liability	(445)		(445)
Operating loss	(3,708)	15,169	(9,621)	12,139
Interest and finance (income) expense
Interest expense - term loan debt		479		1,187
Other interest and finance charges, net	(7)	(1)	18
Loss on early extinguishment of debt		2,324		2,324
Total interest and finance (income) expense	(7)	2,802	18	3,511
Loss before income taxes	(3,701)	12,367	(9,639)	8,628
Income tax (benefit) provision	0	3,178	0	3,178
Net (loss) income	(3,701)	9,189	(9,639)	5,450
Net loss attributable to noncontrolling interest	(233)	(301)	(528)	(553)
Net (loss) income attributable to Xcel Brands, Inc. stockholders	$ (3,468)	$ 9,490	$ (9,111)	$ 6,003
(Loss) earnings per common share attributable to Xcel Brands, Inc. stockholders:
Basic net (loss) income per share	$ (0.18)	$ 0.48	$ (0.46)	$ 0.31
Diluted net (loss) income per share	$ (0.18)	$ 0.48	$ (0.46)	$ 0.30
Weighted average number of common shares outstanding:
Basic weighted average number of shares outstanding	19,735,500	19,677,243	19,684,630	19,624,474
Diluted weighted average common shares outstanding	19,735,500	19,814,448	19,684,630	19,756,775
Net licensing revenue
Revenues
Net revenue	$ 2,428	$ 5,175	$ 4,650	$ 11,136
Net sales
Revenues
Net revenue	$ 4,353	$ 3,292	$ 8,181	$ 6,078

Stockholders' Equity - Stock Awards (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		6 Months Ended
	May 15, 2023	Apr. 17, 2023	Jan. 01, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other disclosures
Compensation expense				$ 60	$ 580	$ 120	$ 610
Non Management Directors
Other disclosures
Compensation expense					190		210
Employee
Other disclosures
Compensation expense					390		400
Restricted Stock
Number of Other than Options
Outstanding, beginning balance (in shares)			333,333			333,333
Granted (in shares)						66,668
Vested (in shares)						(66,668)
Expired/Forfeited (in shares)						0
Outstanding, ending balance (in shares)				333,333		333,333
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)			$ 3.71			$ 3.71
Granted (in dollars per share)						0.67
Vested (in dollars per share)						0.67
Expired/Forfeited (in dollars per share)						0
Outstanding, ending balance (in dollars per share)				$ 3.71		$ 3.71
Other disclosures
Unrecognized compensation expense				$ 30		$ 30
Weighted average period of recognition						9 months 14 days
Common Stock
Other disclosures
Compensation expense				$ 50	$ 200	$ 80	$ 210
Common Stock \| Consultant
Number of Other than Options
Granted (in shares)	50,000	8,334	8,334

Nature of Operations, Background, and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2023	May 31, 2022
Longaberger Licensing, LLC \| Variable Interest Entity, Primary Beneficiary
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	50.00%
Q Optix, LLC \| Variable Interest Entity, Primary Beneficiary
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	50.00%
IM Topco, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership interest		30.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Topic 405
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+ Details

Commitments and Contingencies - Narrative (Details) $ in Thousands			3 Months Ended		6 Months Ended		12 Months Ended	13 Months Ended
	May 31, 2022 USD ($) item	Apr. 01, 2021 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)
Commitments and Contingencies
Weighted average remaining lease term for operating leases			4 years 3 months 18 days		4 years 3 months 18 days			4 years 3 months 18 days
Weighted average discount rate			6.25%		6.25%			6.25%
Cash payments for operating lease expense			$ 400	$ 400	$ 800	$ 1,000
Contingent obligation			4,996		4,996		$ 6,396	$ 4,996
Earn-out balance before settlement			1,400		1,400		243	1,400
Additional consideration is payable to the seller							200
Isaac Mizrahi sale transaction with IM Topco \| Disposed of by Sale
Commitments and Contingencies
Number of consecutive quarters for royalty payable term \| item	4
Royalty payable term	3 years
Contingent obligation	$ 0
Isaac Mizrahi sale transaction with IM Topco \| Disposed of by Sale \| WHP
Commitments and Contingencies
WHP earned in cashflow								7,900
Adjustments to purchase price payable			8,100		8,100			8,100
Isaac Mizrahi sale transaction with IM Topco \| Disposed of by Sale \| Maximum
Commitments and Contingencies
Royalty guarantees	13,300
Adjustments to purchase price payable	$ 16,000
Lori Goldstein Brand
Commitments and Contingencies
Contingent consideration		$ 12,500
Contingent obligation							6,400
Earn-out balance before settlement			$ 1,400		$ 1,400		200	$ 1,400
Royalties earned					6 years
Contingent obligation (Lori Goldstein Earn-Out)					$ 5,000		$ 6,600

Stockholders' Equity - Stock Options (Details) - USD ($)	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Other disclosures
Compensation expense	$ 60,000.00		$ 580,000	$ 120,000	$ 610,000
Employee
Other disclosures
Compensation expense			390,000		400,000
Non Management Directors
Other disclosures
Compensation expense			190,000		210,000
Employee Stock Option [Member]
Number of Options
Outstanding, beginning balance (in shares)		5,614,310		5,614,310
Granted (in shares)				0
Exercised (in shares)				22,750
Expired/Forfeited (in shares)				(472,140)
Outstanding, ending balance (in shares)	5,119,420			5,119,420		5,614,310
Exercisable (in shares)		1,556,920
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)		$ 2.12		$ 2.12
Granted (in dollars per share)				0
Exercised (in dollars per share)				1.00
Expired/Forfeited (in dollars per share)				3.84
Outstanding, ending balance (in dollars per share)	$ 2.04			$ 2.04		$ 2.12
Exercisable (in dollars per share)		$ 2.76
Other disclosures
Outstanding Weighted Average Remaining Contractual Life (in Years)				4 years 7 months 2 days		4 years 9 months 3 days
Exercisable Weighted Average Remaining Contractual Life (in Years)		2 years 2 months 8 days
Aggregate Intrinsic Value, Outstanding	$ 0			$ 0		$ 0
Aggregate Intrinsic Value, Exercisable		$ 0
Compensation expense	20,000.00		$ 380,000	50,000.00	$ 400,000
Unrecognized compensation expense	$ 50,000.00			$ 50,000.00
Weighted average period of recognition				9 months 14 days

Stockholders' Equity - Non-Vested Options (Details)	6 Months Ended
Stockholders' Equity - Non-Vested Options (Details)	Jun. 30, 2023 $ / shares shares
Employee Stock Option [Member]
Number of Options
Beginning Balance (in shares)	3,697,500
Vested (in shares)	(135,000)
Ending Balance (in shares)	3,562,500
Weighted Average Grant Date Fair Value
Beginning Balance (in dollars per share) \| $ / shares	$ 0.05
Vested (in dollars per share) \| $ / shares	0.68
Ending Balance (in dollars per share) \| $ / shares	$ 0.02
Employee Stock Option [Member]
Number of Options
Granted (in shares)	0

Signifcant Contracts and Concentrations - Halson Master License (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	May 15, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Subsequent Event [Line Items]
Purchaseable stock		19,700,656		19,700,656		19,624,860
Deferred revenue, current		$ 922		$ 922		$ 88
Deferred revenue, long-term liability		4,207		4,207
Licensing revenue		6,781	$ 8,467	12,831	$ 17,214
Net licensing revenue
Subsequent Event [Line Items]
Licensing revenue		2,428	$ 5,175	4,650	$ 11,136
Halston License
Subsequent Event [Line Items]
Additional royalty payable term	20 years
Total purchase price	$ 5,000
Warrant term	10 years
Purchaseable stock	1,000,000
Warrants outstanding, exercise price (in dollars per share)	$ 1.50
Deferred revenue		4,890		4,890
Deferred revenue, current		890		890
Deferred revenue, long-term liability		$ 4,000		$ 4,000
Recognition period of deferred revenue				5 years 6 months
Halston License \| Minimum
Subsequent Event [Line Items]
Royalty payable term	5 years
Halston License \| Maximum
Subsequent Event [Line Items]
Royalty payable term	25 years
Halston License \| Warrants
Subsequent Event [Line Items]
Purchaseable stock	1,000,000
Warrants outstanding, exercise price (in dollars per share)	$ 1.50
Halston License \| Net licensing revenue
Subsequent Event [Line Items]
Licensing revenue				$ 330

Equity Method Investment - Summarized financial information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross Profit	$ 2,981		$ 5,897		$ 6,338	$ 12,964
Net loss	(3,701)	$ (5,938)	$ 9,189	$ (3,739)	(9,639)	$ 5,450
IM Topco, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	3,573				6,919
Gross Profit	3,573				6,919
Loss from continuing operations	206				113
Net loss	$ 206				$ 113

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

+ Details

- Definition

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

+ References

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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (April 1 through December 31)	$ 776
2024	1,552
2025	1,552
2026	1,552
2027	1,294
Total lease payments	6,726
Less: Discount	847
Present value of lease liabilities	5,879
Current portion of lease liabilities	1,219	$ 1,376
Non-current portion of lease liabilities	$ 4,660	$ 5,839

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 3,507	$ 4,608
Accounts receivable, net	6,878	5,110
Inventory	798	2,845
Prepaid expenses and other current assets	554	1,457
Total current assets	11,737	14,020
Non-current Assets:
Property and equipment, net	916	1,418
Operating lease right-of-use assets	4,946	5,420
Trademarks and other intangibles, net	44,590	47,665
Equity method investment	18,165	19,195
Deferred tax assets, net	1,107	1,107
Other assets	25	110
Total non-current assets	69,749	74,915
Total Assets	81,486	88,935
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	2,750	3,870
Deferred revenue	922	88
Accrued income taxes payable	555	568
Accrued payroll	154	416
Current portion of operating lease obligations	1,219	1,376
Current portion of contingent obligations	1,400	243
Total current liabilities	7,000	6,561
Long-Term Liabilities:
Long-term portion of operating lease obligations	4,660	5,839
Deferred revenue	4,207
Long-term portion of contingent obligations	4,996	6,396
Total long-term liabilities	13,863	12,235
Total Liabilities	20,863	18,796
Commitments and Contingencies
Stockholders' Equity:
Preferred stock, $.001 par value, 1,000,000 shares authorized, none issued and outstanding
Common stock, $.001 par value, 50,000,000 shares authorized, and 19,633,194 and 19,624,860 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	20	20
Paid-in capital	103,715	103,592
Accumulated deficit	(41,908)	(32,797)
Total Xcel Brands, Inc. stockholders' equity	61,827	70,815
Noncontrolling interest	(1,204)	(676)
Total Stockholders' Equity	60,623	70,139
Total Liabilities and Stockholders' Equity	$ 81,486	$ 88,935

Debt

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Debt

7. Debt

The Company did not have any debt obligations as of June 30, 2023 or December 31, 2022.

From December 30, 2021 through May 31, 2022, the Company had term loan debt outstanding pursuant to an agreement with First Eagle Alternative Credit Agent, LLC (“FEAC”); this debt was repaid in full and extinguished on May 31, 2022. As a result of this extinguishment, the Company recognized a loss on early extinguishment of debt of approximately $2.3 million during the prior year quarter and prior year six months, consisting of approximately $1.4 million of debt prepayment premium, the immediate write-off of approximately $0.8 million of unamortized deferred finance costs, and approximately $0.1 million of other costs.

For the prior year quarter and prior year six months, the Company incurred interest expense (including both interest paid in cash and the amortization of deferred finance costs) related to term loan debt of approximately $0.48 million and $1.19 million, respectively, and the effective interest rate related to term loan debt was approximately 9.8%.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (3,468)	$ 9,490	$ (9,111)	$ 6,003

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Trademarks and Other Intangibles (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Trademarks and Other Intangibles


	Weighted
	Average	June 30, 2023
	Amortization	Gross Carrying		Accumulated		Net Carrying
($ in thousands)	Period	Amount		Amortization		Amount
Trademarks (finite-lived)	15 years		68,880		24,391		44,489
Copyrights and other intellectual property	8 years		429		328		101
Total		$	69,309	$	24,719	$	44,590


	Weighted
	Average	December 31, 2022
	Amortization	Gross Carrying		Accumulated		Net Carrying
($ in thousands)	Period	Amount		Amortization		Amount
Trademarks (finite-lived)	15 years		68,880		21,346		47,534
Copyrights and other intellectual property	8 years		429		298		131
Total		$	69,309	$	21,644	$	47,665

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Taxes
Effective income tax rate	0.00%	25.00%		0.00%	35.00%
Income tax (benefit) provision	$ 0	$ 3,178		$ 0	$ 3,178
Effect of state taxes on effective tax rate		10.00%			14.00%
Effect of reversal of valuation allowance			6.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Trademarks and Other Intangibles - Narrative (Details) - USD ($) $ in Thousands	15 Months Ended	18 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 1,540	$ 3,070

Earnings (Loss) Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings (Loss) Per Share [Abstract]
Net (loss) income attributable to Xcel Brands, Inc. stockholders	$ (3,468)		$ 9,490		$ (9,111)	$ 6,003
Basic weighted average number of shares outstanding	19,735,500		19,677,243		19,684,630	19,624,474
Add: Effect of warrants (in shares)			657			639
Add: Effect of stock options (in shares)			136,548			131,662
Diluted weighted average number of shares outstanding	19,735,500	19,633,194	19,814,448	19,571,119	19,684,630	19,756,775
Basic net (loss) income per share	$ (0.18)		$ 0.48		$ (0.46)	$ 0.31
Diluted net (loss) income per share	$ (0.18)	$ (0.29)	$ 0.48	$ (0.18)	$ (0.46)	$ 0.30

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2023

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

9. Earnings (Loss) Per Share

Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all potentially dilutive common shares outstanding during the period, including stock options and warrants, using the treasury stock method. Diluted EPS excludes all potentially dilutive shares of common stock if their effect is anti-dilutive.

The following table is a reconciliation of the numerator and denominator of the basic and diluted net (loss) income per share computations for the three and six months ended June 30, 2023 and 2022:


	Three Months Ended					Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Numerator:
Net (loss) income attributable to Xcel Brands, Inc. stockholders (in thousands)	$	(3,468)	$	9,490	$	(9,111)	$	6,003

Denominator:
Basic weighted average number of shares outstanding		19,735,500		19,677,243		19,684,630		19,624,474
Add: Effect of warrants		—		657		—		639
Add: Effect of stock options		—		136,548		—		131,662
Diluted weighted average number of shares outstanding		19,735,500		19,814,448		19,684,630		19,756,775

Basic net loss per share	$	(0.18)	$	0.48	$	(0.46)	$	0.31
Diluted net loss per share	$	(0.18)	$	0.48	$	(0.46)	$	0.30

As a result of the net loss for the current quarter and current six months, the Company calculated diluted EPS using basic weighted average shares outstanding for such periods, as utilizing diluted shares would be anti-dilutive to loss per share.

The computation of diluted EPS excludes the following potentially dilutive securities because their inclusion would be anti-dilutive:


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2023	2022	2023	2022
Stock options	5,119,420	5,781,890	5,119,420	5,781,890
Warrants	1,116,065	116,065	1,116,065	116,065
Total	6,235,485	5,897,955	6,235,485	5,897,955

Earnings (Loss) Per Share - Anti-dilutive Securities Excluded (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities	6,235,485	5,897,955	6,235,485	5,897,955
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities	5,119,420	5,781,890	5,119,420	5,781,890
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities	1,116,065	116,065	1,116,065	116,065

Stockholders' Equity - Equity Incentive Plans (Details)	Jun. 30, 2023 shares
Stockholders' Equity
Shares of common stock reserved for issuance (in shares)	8,537,726
2011 Equity Incentive Plan \| Unexercised Stock Options
Stockholders' Equity
Shares are granted available for issuance (in shares)	4,898,135
2021 Equity Incentive Plan
Stockholders' Equity
Number of common stock eligible for issuance	4,000,000
Shares are granted available for issuance (in shares)	3,302,241
Shares of common stock reserved for issuance (in shares)	3,302,241
2021 Equity Incentive Plan \| Employee Stock Option [Member]
Stockholders' Equity
Shares of common stock reserved for issuance (in shares)	337,350

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Trademarks and Other Intangibles

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Trademarks and Other Intangibles

3. Trademarks and Other Intangibles

Trademarks and other intangibles, net consist of the following:


	Weighted
	Average	June 30, 2023
	Amortization	Gross Carrying		Accumulated		Net Carrying
($ in thousands)	Period	Amount		Amortization		Amount
Trademarks (finite-lived)	15 years		68,880		24,391		44,489
Copyrights and other intellectual property	8 years		429		328		101
Total		$	69,309	$	24,719	$	44,590


	Weighted
	Average	December 31, 2022
	Amortization	Gross Carrying		Accumulated		Net Carrying
($ in thousands)	Period	Amount		Amortization		Amount
Trademarks (finite-lived)	15 years		68,880		21,346		47,534
Copyrights and other intellectual property	8 years		429		298		131
Total		$	69,309	$	21,644	$	47,665

Amortization expense for intangible assets was approximately $1.54 million for both the three-month period ended June 30, 2023 (the "current quarter") and the three-month period ended June 30, 2022 (the "prior year quarter").

Amortization expense for intangible assets was approximately $3.07 million for both the six-month period ended June 30, 2023 (the "current six months") and the six-month period ended June 30, 2022 (the "prior year six months").

Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Maturities of Lease Liabilities


($ in thousands)
2023 (July 1 through December 31)	$	776
2024		1,552
2025		1,552
2026		1,552
2027		1,294
Thereafter		-
Total lease payments		6,726
Less: Discount		847
Present value of lease liabilities		5,879
Current portion of lease liabilities		1,219
Non-current portion of lease liabilities	$	4,660

Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Debt - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2022
Debt Disclosure [Abstract]
Unamortized deferred finance costs		$ 800
Effective interest rate (as percentage)		9.80%
Repayment of principal		$ 29,000
Prepayment fee		1,400
Loss on early extinguishment of debt	$ 2,324	2,324
Other costs		100
Interest expense - term loan debt	$ 479	$ 1,187

Equity Method Investment (Tables)

6 Months Ended

Jun. 30, 2023

Acquisitions, Divestitures and Variable Interest Entities[Abstract]

Summarized financial information for IM Topco


	For the three		For the six
	months ended		months ended
	June 30,		June 30,
($ in thousands)	2023			2023
Revenues	$	3,573	$	6,919
Gross profit		3,573		6,919
Income from continuing operations		206		113
Net income		206		113

Equity Method Investment - IM Topco, LLC (Details) - USD ($)			3 Months Ended		6 Months Ended
	May 27, 2023	May 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	May 27, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of majority interest in Isaac Mizrahi brand				$ 20,608,000		$ 20,608,000
Loss from equity method investment					$ (1,030,000)
IM Topco, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest		30.00%
IM Topco, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from equity method investment			$ (520,000)		$ (1,030,000.00)
Business Venture Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash flow distributable to members (in percent)		100.00%
Net cash flow distributable to members		$ 1,316,200
Business Venture Agreement \| WHP
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash flow distributable to members (in percent)		100.00%
Net cash flow distributable to members		$ 8,852,000
IM Brand trademarks and other intellectual property rights \| Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount received in cash	$ 46,200,000
Transaction expenses	900,000
Legal and agent fees	$ 100,000
Shares issued to consultant in connection with Isaac Mizrahi sale transaction	65,275
Gain on sale of majority interest in Isaac Mizrahi brand						$ 20,600,000
IM Brand trademarks and other intellectual property rights \| Disposed of by Sale \| IM Topco, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest							70.00%

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock Employees	Common Stock Executive Officer [Member]	Common Stock Consultants	Common Stock Director	Common Stock	Paid-In Capital [Member] Employees	Paid-In Capital [Member] Executive Officer [Member]	Paid-In Capital [Member] Consultants	Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Noncontrolling Interest [Member]	Employees	Executive Officer [Member]	Consultants	Total
Balances at Dec. 31, 2021					$ 20				$ 103,039	$ (28,779)	$ 662				$ 74,942
Balances (in shares) at Dec. 31, 2021					19,571,119
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation expense related to stock options and restricted stock									30						30
Net income (loss)										(3,487)	(252)				(3,739)
Balances at Mar. 31, 2022					$ 20				103,069	(32,266)	410				71,233
Balances (in shares) at Mar. 31, 2022					19,571,119
Balances at Dec. 31, 2021					$ 20				103,039	(28,779)	662				74,942
Balances (in shares) at Dec. 31, 2021					19,571,119
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)															5,450
Balances at Jun. 30, 2022					$ 20				103,490	(22,776)	109				80,843
Balances (in shares) at Jun. 30, 2022					19,624,860
Balances at Mar. 31, 2022					$ 20				103,069	(32,266)	410				71,233
Balances (in shares) at Mar. 31, 2022					19,571,119
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation expense related to stock options and restricted stock									402						402
Shares issued related to/in connection with stock grant						$ 50	$ 281	$ 33				$ 50	$ 281	$ 33
Shares issued related to/in connection with stock grant	33,557	178,727	20,064	50,000
Shares issued to consultant in connection with Isaac Mizrahi sale transaction									97						97
Shares issued to consultant in connection with Isaac Mizrahi sale transaction					65,275
Shares repurchased in exchange for withholding taxes						$ (357)	$ (85)					$ (357)	$ (85)
Shares repurchased in exchange for withholding taxes (in shares)	(240,000)	(53,882)
Net income (loss)										9,490	(301)				9,189
Balances at Jun. 30, 2022					$ 20				103,490	(22,776)	109				80,843
Balances (in shares) at Jun. 30, 2022					19,624,860
Balances at Dec. 31, 2022					$ 20				103,592	(32,797)	(676)				70,139
Balances (in shares) at Dec. 31, 2022					19,624,860
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation expense related to stock options and restricted stock									51						51
Shares issued to consultant in connection with stock grant									6						6
Shares issued to consultant in connection with stock grant (in shares)					8,334
Net income (loss)										(5,643)	(295)				(5,938)
Balances at Mar. 31, 2023					$ 20				103,649	(38,440)	(971)				64,258
Balances (in shares) at Mar. 31, 2023					19,633,194
Balances at Dec. 31, 2022					$ 20				103,592	(32,797)	(676)				70,139
Balances (in shares) at Dec. 31, 2022					19,624,860
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)															(9,639)
Balances at Jun. 30, 2023					$ 20				103,715	(41,908)	(1,204)				60,623
Balances (in shares) at Jun. 30, 2023					19,700,656
Balances at Mar. 31, 2023					$ 20				103,649	(38,440)	(971)				64,258
Balances (in shares) at Mar. 31, 2023					19,633,194
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation expense related to stock options and restricted stock									27						27
Shares issued to consultant in connection with stock grant									39						39
Shares issued to consultant in connection with stock grant (in shares)					58,334
Shares issued on exercise of stock options, net (in shares)					9,128
Net income (loss)										(3,468)	(233)				(3,701)
Balances at Jun. 30, 2023					$ 20				$ 103,715	$ (41,908)	$ (1,204)				$ 60,623
Balances (in shares) at Jun. 30, 2023					19,700,656

Nature of Operations, Background, and Basis of Presentation - Liquidity (Details) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
	May 15, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net (loss) income		$ (3,468)		$ 9,490		$ (9,111)	$ 6,003
Net loss		3,701	$ 5,938	$ (9,189)	$ 3,739	9,639	(5,450)
Accumulated deficit		(41,908)				(41,908)		$ (32,797)
Other Noncash Expense		1,700				4,000
Net cash used in operating activities						1,471	8,719
Working capital, Net		6,000				6,000
Cash and cash equivalents		$ 3,507				3,507
Reduction in payroll costs						6,000
Reduction in operating expenses						$ 7,000
Payment of long-term debt							$ 29,000
Halston License
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Additional royalty payable term	20 years
Halston License \| Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Royalty payable term	5 years
Halston License \| Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Royalty payable term	25 years

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Aug. 09, 2023
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-37527
Entity Registrant Name	XCEL BRANDS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0307819
Entity Address, Address Line One	1333 Broadway, 10th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10018
City Area Code	347
Local Phone Number	727-2474
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	XELB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,707,956
Entity Central Index Key	0001083220
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	19,700,656	19,624,860
Common stock, shares outstanding (in shares)	19,700,656	19,624,860

Leases - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	May 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Oct. 31, 2023	Jun. 30, 2023	Jun. 30, 2022
Lessee, Lease, Description [Line Items]
Cash payments for operating lease expense		$ 400	$ 400		$ 800	$ 1,000
Lease settlement expense	$ 70
Lease settlement payable				$ 110
Gain on settlement of lease liability		$ 445			$ 445
Weighted average discount rate		6.25%			6.25%
Weighted average remaining lease term for operating leases		4 years 3 months 18 days			4 years 3 months 18 days
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease expense		$ 400	$ 400		$ 800	$ 700
Other expense (income), including non-cash expenses
Lessee, Lease, Description [Line Items]
Gain on settlement of lease liability					440
Accounts Payable and Accrued Liabilities
Lessee, Lease, Description [Line Items]
Lease settlement liability					$ 230

Subsequent Events - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	May 15, 2023	Jun. 30, 2023	Dec. 31, 2022	May 27, 2022
Subsequent Event [Line Items]
Purchaseable stock		19,700,656	19,624,860
IM Intellectual Property \| Disposed of by Sale \| IM Topco, LLC
Subsequent Event [Line Items]
Ownership interest				70.00%
Halston License
Subsequent Event [Line Items]
Additional royalty payable term	20 years
Total purchase price	$ 5.0
Warrant term	10 years
Purchaseable stock	1,000,000
Warrants outstanding, exercise price (in dollars per share)	$ 1.50
Halston License \| Minimum
Subsequent Event [Line Items]
Royalty payable term	5 years
Halston License \| Maximum
Subsequent Event [Line Items]
Royalty payable term	25 years
Halston License \| Warrants
Subsequent Event [Line Items]
Purchaseable stock	1,000,000
Warrants outstanding, exercise price (in dollars per share)	$ 1.50

Related Party Transactions

6 Months Ended

Jun. 30, 2023

Related Party Transactions

11. Related Party Transactions

IM Topco, LLC

The Company holds a noncontrolling interest in IM Topco, which is accounted for under the equity method of accounting.

On May 31, 2022, the Company entered into a services agreement with IM Topco, pursuant to which the Company provides certain design and support services (including assistance with the operations of the interactive television business and related talent support) to IM Topco in exchange for payments of $300,000 per year. For the three and six months ended June 30, 2023, the Company recognized service fee income related to this agreement of $75,000 and $150,000, respectively.

On May 31, 2022, the Company entered into a license agreement with IM Topco, pursuant to which IM Topco granted the Company a license to use certain Isaac Mizrahi trademarks on and in connection with the design, manufacture, distribution, sale, and promotion of women’s sportswear products in the United States and Canada during the term of the agreement, in exchange for the payment of royalties in connection therewith. The initial term of this agreement was set to end on December 31, 2026, and provided guaranteed royalties to IM Topco of $400,000 per year. Effective December 16, 2022, the license agreement between IM Topco and Xcel was terminated in favor of a new similar license agreement between IM Topco and an unrelated third party. However, as part of the termination of the May 31, 2022 license agreement, Xcel provided a guarantee to IM Topco for the payment of any difference between (i) the royalties received by IM Topco from the unrelated third party under the new agreement and (ii) the amount of guaranteed royalties that IM Topco would have received from Xcel under the May 31, 2022 agreement. For the three and six months ended June 30, 2023, the estimated amount of such shortfall was approximately $60,000 and $120,000, respectively, which the Company recognized as royalty expense in the condensed consolidated statements of operations.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details