Xcel Brands, Inc. (NASDAQ:XELB) Q2 2023 Earnings Call Transcript

James Haran: So Debra, if you look at our last two quarters that we filed, I believe we had 1 million-plus pick-up or I should say a reduction in expenses in the second quarter compared to the first quarter. I believe our operating expense was $5.1 million. So we’re continuing to see those cuts come into play in the third quarter, we’ll probably be down somewhere another $600,000. And by the fourth quarter, we’ll be at a $4 million run rate on an a quarterly basis going forward. And I would like to add, we are still looking at ways to even cut costs further to 2024. So we’ll get down to $4 million this year and hopefully, we’ll get even below that outside of any other expansions that could arise that would change that.

Operator: And we currently have no questions in our queue at this time. I will turn the call back over to the presenters.

Robert D’Loren: Thank you, Christen. Ladies and gentlemen, thank you for your time this evening. We greatly appreciate your continued interest and support in Xcel Brands. As always, stay fit, eat well, and be healthy.

Operator: And this concludes today’s conference call. You may now disconnect.