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Side-by-side financial comparison of ScanTech AI Systems Inc. (STAI) and XCel Brands, Inc. (XELB). Click either name above to swap in a different company.

XCel Brands, Inc. is the larger business by last-quarter revenue ($1.2M vs $631.0K, roughly 1.9× ScanTech AI Systems Inc.). XCel Brands, Inc. runs the higher net margin — -237.8% vs -1532.9%, a 1295.1% gap on every dollar of revenue.

XCel Brands, Inc. is a consumer goods and brand management firm that owns, licenses, and markets lifestyle brands spanning apparel, accessories, and home products. It operates mainly in North America, partnering with leading retail chains to distribute products to mass and mid-tier consumer segments.

STAI vs XELB — Head-to-Head

Bigger by revenue
XELB
XELB
1.9× larger
XELB
$1.2M
$631.0K
STAI
Higher net margin
XELB
XELB
1295.1% more per $
XELB
-237.8%
-1532.9%
STAI

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
STAI
STAI
XELB
XELB
Revenue
$631.0K
$1.2M
Net Profit
$-9.7M
$-2.8M
Gross Margin
27.6%
Operating Margin
-773.2%
-166.8%
Net Margin
-1532.9%
-237.8%
Revenue YoY
-3.4%
Net Profit YoY
60.8%
EPS (diluted)
$-0.16
$-0.22

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
STAI
STAI
XELB
XELB
Q4 25
$1.2M
Q3 25
$631.0K
$1.1M
Q2 25
$884.0K
$1.3M
Q1 25
$346.1K
$1.3M
Q4 24
$1.2M
Q3 24
$1.9M
Q2 24
$3.0M
Q1 24
$2.2M
Net Profit
STAI
STAI
XELB
XELB
Q4 25
$-2.8M
Q3 25
$-9.7M
$-7.9M
Q2 25
$-6.9M
$-4.0M
Q1 25
$-17.9M
$-2.8M
Q4 24
$-7.1M
Q3 24
$-9.2M
Q2 24
$195.0K
Q1 24
$-6.3M
Gross Margin
STAI
STAI
XELB
XELB
Q4 25
Q3 25
27.6%
100.0%
Q2 25
14.3%
100.0%
Q1 25
29.4%
Q4 24
100.0%
Q3 24
78.7%
Q2 24
98.7%
Q1 24
100.0%
Operating Margin
STAI
STAI
XELB
XELB
Q4 25
-166.8%
Q3 25
-773.2%
-665.7%
Q2 25
-440.1%
-125.2%
Q1 25
-4503.9%
-164.2%
Q4 24
-532.9%
Q3 24
-474.8%
Q2 24
10.4%
Q1 24
-283.7%
Net Margin
STAI
STAI
XELB
XELB
Q4 25
-237.8%
Q3 25
-1532.9%
-706.5%
Q2 25
-785.1%
-301.9%
Q1 25
-5174.2%
-210.0%
Q4 24
-585.9%
Q3 24
-481.9%
Q2 24
6.6%
Q1 24
-288.2%
EPS (diluted)
STAI
STAI
XELB
XELB
Q4 25
$-0.22
Q3 25
$-0.16
$-2.02
Q2 25
$-0.16
$-1.66
Q1 25
$-0.77
$-1.18
Q4 24
$-2.91
Q3 24
$-3.92
Q2 24
$0.08
Q1 24
$-3.09

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
STAI
STAI
XELB
XELB
Cash + ST InvestmentsLiquidity on hand
$1.1M
Total DebtLower is stronger
$17.7M
$12.7M
Stockholders' EquityBook value
$18.0M
Total Assets
$5.1M
$38.9M
Debt / EquityLower = less leverage
0.71×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
STAI
STAI
XELB
XELB
Q4 25
$1.1M
Q3 25
$1.5M
Q2 25
$970.0K
Q1 25
$298.0K
Q4 24
$1.3M
Q3 24
$242.0K
Q2 24
$924.0K
Q1 24
$1.6M
Total Debt
STAI
STAI
XELB
XELB
Q4 25
$12.7M
Q3 25
$17.7M
$12.5M
Q2 25
$17.7M
$12.3M
Q1 25
$17.7M
$8.7M
Q4 24
$6.6M
Q3 24
$4.3M
Q2 24
$4.5M
Q1 24
$4.7M
Stockholders' Equity
STAI
STAI
XELB
XELB
Q4 25
$18.0M
Q3 25
$18.7M
Q2 25
$24.5M
Q1 25
$27.7M
Q4 24
$30.4M
Q3 24
$36.9M
Q2 24
$46.0M
Q1 24
$45.8M
Total Assets
STAI
STAI
XELB
XELB
Q4 25
$38.9M
Q3 25
$5.1M
$40.5M
Q2 25
$4.6M
$47.2M
Q1 25
$5.1M
$52.5M
Q4 24
$53.8M
Q3 24
$54.0M
Q2 24
$63.2M
Q1 24
$66.8M
Debt / Equity
STAI
STAI
XELB
XELB
Q4 25
0.71×
Q3 25
0.67×
Q2 25
0.50×
Q1 25
0.31×
Q4 24
0.22×
Q3 24
0.12×
Q2 24
0.10×
Q1 24
0.10×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
STAI
STAI
XELB
XELB
Operating Cash FlowLast quarter
$-758.5K
$-7.0M
Free Cash FlowOCF − Capex
$-7.0M
FCF MarginFCF / Revenue
-602.1%
Capex IntensityCapex / Revenue
0.0%
0.9%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
STAI
STAI
XELB
XELB
Q4 25
$-7.0M
Q3 25
$-758.5K
$-1.4M
Q2 25
$-1.5M
$-2.4M
Q1 25
$-2.2M
$-1.4M
Q4 24
$-4.7M
Q3 24
$-424.0K
Q2 24
$-274.0K
Q1 24
$-2.6M
Free Cash Flow
STAI
STAI
XELB
XELB
Q4 25
$-7.0M
Q3 25
Q2 25
$-1.5M
$-2.4M
Q1 25
$-2.2M
$-1.4M
Q4 24
$-4.8M
Q3 24
$-432.0K
Q2 24
Q1 24
FCF Margin
STAI
STAI
XELB
XELB
Q4 25
-602.1%
Q3 25
Q2 25
-166.0%
-179.3%
Q1 25
-623.8%
-108.7%
Q4 24
-399.3%
Q3 24
-22.6%
Q2 24
Q1 24
Capex Intensity
STAI
STAI
XELB
XELB
Q4 25
0.9%
Q3 25
0.0%
0.0%
Q2 25
1.0%
0.3%
Q1 25
2.0%
1.1%
Q4 24
9.3%
Q3 24
0.4%
Q2 24
Q1 24
Cash Conversion
STAI
STAI
XELB
XELB
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
-1.41×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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