Despite these positive results, the company experienced a revenue decline from the previous year, with Q1 2024 revenue falling to $2.2 million from $6.1 million in Q1 2023. Xcel Brands is in the midst of a strategic shift towards a licensing-focused business model, which has contributed to a 50% improvement in adjusted EBITDA compared to the previous year. The company anticipates a return to profitability in 2024, with positive EBITDA expected in the latter half of the year. Additionally, Xcel Brands is expanding its product offerings, including new launches on HSN and JTV, and has set a target of $50 million in sales for its C Wonder brand by 2025. The company's CEO, Robert D'Loren, expressed confidence in this strategic direction, emphasizing the potential growth in its interactive TV and e-commerce channels. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.