ICON Iconix Brand

Iconix Brand Group is an American brand management company that licenses brands to retailers and manufacturers primarily in the apparel, footwear, and apparel accessory industries. Its brands are available in such stores as Kohl's, Kmart, Sears, Macy's, Target and JC Penney.[citation needed] The company began as Candie's, Inc., whose brand it purchased in 1993. The Bongo brand was purchased in 1998. The Badgley Mischka brand was purchased in 2004. The Joe Boxer and Rampage brands were acquired on July 22, 2005, and September 15, 2005, respectively. In 2006, the company acquired the Mudd, London Fog, Mossimo, and Ocean Pacific brands on April 11, August 29, November 1, and November 6, respectively. The company continued with acquisitions in 2007 with the purchase of Cannon, Danskin, Artful Dodger, and Rocawear brands. On November 15, 2007, Iconix bought the Starter brand from Nike. On October 27, 2009, Iconix paid $109 million for a 51% stake in urban fashion brand Eckō Unltd. It acquired full ownership in May 2013.
Company profile
Ticker
ICON
Exchange
Website
CEO
Robert Galvin
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CANDIES INC
SEC CIK
Corporate docs
IRS number
112481903
ICON stock data
()
News
11 Consumer Discretionary Stocks Moving In Friday's Intraday Session
16 Apr 21
12 Consumer Discretionary Stocks Moving In Tuesday's Pre-Market Session
6 Apr 21
12 Consumer Discretionary Stocks Moving In Monday's Pre-Market Session
8 Feb 21
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4 Feb 21
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3 Feb 21
Calendar
31 Mar 21
17 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 49.8M | 49.8M | 49.8M | 49.8M | 49.8M | 49.8M |
Cash burn (monthly) | 6.91M | 472.33K | 5.19M | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 24.65M | 1.68M | 18.52M | n/a | n/a | n/a |
Cash remaining | 25.15M | 48.11M | 31.27M | n/a | n/a | n/a |
Runway (months of cash) | 3.6 | 101.9 | 6.0 | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
31 Mar 21 | Galvin Robert | Common Stock | Payment of exercise | Dispose F | No | No | 2.01 | 38,945 | 78.28K | 490,740 |
31 Mar 21 | Galvin Robert | Common Stock | Grant | Aquire A | No | No | 2.01 | 79,121 | 159.03K | 529,685 |
5 Mar 21 | John Mcclain | Common Stock | Payment of exercise | Dispose F | No | No | 2.03 | 66,530 | 135.06K | 228,279 |
5 Mar 21 | John Mcclain | Common Stock | Grant | Aquire A | No | No | 1.5 | 184,899 | 277.35K | 294,809 |
5 Mar 21 | Galvin Robert | Common Stock | Payment of exercise | Dispose F | No | No | 2.03 | 51,373 | 104.29K | 529,685 |
5 Mar 21 | Galvin Robert | Common Stock | Grant | Aquire A | No | No | 1.93 | 151,232 | 291.88K | 581,058 |
31 Mar 20 | Galvin Robert | Common Stock | Payment of exercise | Dispose F | No | No | 0.66 | 26,874 | 17.74K | 429,826 |
31 Mar 20 | Galvin Robert | Common Stock | Grant | Aquire A | No | No | 0.66 | 79,111 | 52.21K | 456,700 |
11 Feb 20 | John Mcclain | Common Stock | Payment of exercise | Dispose F | No | No | 1.39 | 42,182 | 58.63K | 109,910 |
11 Feb 20 | John Mcclain | Common Stock | Grant | Aquire A | No | No | 1.39 | 116,666 | 162.17K | 152,092 |
Institutional ownership Q1 2021
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
9.7% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 1 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares |
Current |
---|---|
Total value | 1.77M |
Total shares | 1.4M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
Mudrick Capital Management | 1.4M | $1.77M |
Financial report summary
?Risks
- The Company may not generate sufficient cash in the next twelve months necessary to fund continue operations.
- The terms of our debt agreements have restrictive covenants and our failure to comply with any of these could put us in default, which would have an adverse effect on our business and prospects, and could cause us to lose title to our key IP assets.
- In the event of a default under our indebtedness under our Senior Secured Term Loan, which is not waived by our lenders thereunder, such lenders may be able to declare all of the indebtedness under such facilities, together with accrued interest, to be due and payable.
- We are subject to risks associated with the discontinuation of LIBOR.
- The market price of our common stock, which has traded with significant volatility in the past year, may continue to be volatile, which could reduce the market price of our common stock.
- Future issuances of our common stock may cause the prevailing market price of our shares to decrease.
- Future issuances of equity or convertible notes to raise additional needed capital may result in significant dilution to our stockholders.
- We do not anticipate paying cash dividends on our common stock in the short term.
- The failure of our licensees to adequately produce, market, import and sell products bearing our brand names in their license categories, continue their operations, renew their license agreements or pay their obligations under their license agreements could result in a decline in our results of operations.
- A substantial portion of our licensing revenue is concentrated with a limited number of licensees, such that the loss of any of such licensees or their renewal on terms less favorable than today, could slow our growth plans, decrease our revenue and impair our cash flows.
- We have a material amount of goodwill and other intangible assets, including our trademarks, recorded on our balance sheet. As a result of changes in market conditions and declines in the estimated fair value of these assets, we may, in the future, be required to further write down a portion of this goodwill and other intangible assets and such write-down would, as applicable, either decrease our net income or increase our net loss.
- As a result of the intense competition within our licensees’ markets and the strength of some of their competitors, we and our licensees may not be able to continue to compete successfully.
- Our business is dependent on continued market acceptance of our brands and the products of our licensees bearing these brands.
- Our success is largely dependent on the continued service of our key personnel.
- Changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our results.
- We are subject to additional risks associated with our international licensees and joint ventures.
- A portion of our revenue and net income are generated outside of the United States, by certain of our licensees and our joint ventures, in countries that may have volatile currencies, capital control regimes, legal prohibitions on enforcing payment terms in license agreements or other risks.
- Our licensees are subject to risks and uncertainties of foreign manufacturing and importation of goods, and the price, availability and quality of raw materials, along with labor unrest at shipping/receiving ports, could interrupt their operations or increase their operating costs, thereby affecting their ability to deliver goods to the market, reduce or delay their sales and decrease our potential royalty revenue.
- We participate in international joint ventures which we do not typically legally control.
- We may incur losses as a result of unforeseen or catastrophic events, including the emergence of a pandemic, terrorist attacks, extreme weather events or other natural disasters.
- A sale of our trademarks or other IP related to our brands in a jurisdiction could have a negative effect on the brands in other jurisdictions or worldwide.
- Our failure to protect our proprietary rights could compromise our competitive position and result in cancellation, loss of rights or diminution in value of our brands.
- Third-party claims regarding our intellectual property assets could result in our licensees being unable to continue using our trademarks, which could adversely impact our revenue or result in a judgment or monetary damages being levied against us or our licensees.
- We may not be able to establish or maintain our trademark rights and registrations, which could impair our ability to perform our obligations under our license agreements, which could cause a decline in our licensees’ sales and potentially decrease the amount of royalty payments (over and above the guaranteed minimums) due to us.
- We are subject to local laws and regulations in the U.S. and abroad.
- We may be a party to litigation in the normal course of business, which could affect our financial position and liquidity.
- While we audit our licensees from time to time in the ordinary course, we otherwise rely on the accuracy of our licensees’ retail sales reports for reporting and collecting our revenues, and if these reports are untimely or incorrect, our revenue could be delayed or inaccurately reported.
- A decline in general economic conditions or an increase in inflation resulting in a decrease in consumer-spending levels and an inability to access capital may adversely affect our business.
- A significant disruption in our computer systems, including from a malicious attack, and our inability to adequately maintain and update those systems, could adversely affect our operations.
- Provisions in our charter and Delaware law could make it more difficult for a third party to acquire us, discourage a takeover and adversely affect our stockholders.
- Use of social media may adversely impact our reputation and business.
- Recent and ongoing developments relating to the United Kingdom’s leaving the European Union could adversely affect us or our licenses.
Management Discussion
- Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
- This Annual Report on Form 10-K, including this Item 7, includes “forward-looking statements” based on our current expectations, assumptions, estimates and projections about our business and our industry. These statements include those relating to future events, performance and/or achievements, and include those relating to, among other things, our future revenues, expenses and profitability, the future development and expected growth of our business, our projected capital expenditures, future outcomes of litigation and/or regulatory proceedings, competition, expectations regarding the retail sales environment, continued market acceptance of our current brands and our ability to market and license brands we acquire, our indebtedness, the ability of our current licensees to continue executing their business plans with respect to their product lines and the ability to pay contractually obligated royalties, the impact of the novel coronavirus on global production, manufacturing and sales, and our ability to continue sourcing licensees that can design, distribute, manufacture and sell their own product lines.
- These statements are only predictions and are not guarantees of future performance. They are subject to known and unknown risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause our actual results to differ materially from those expressed or forecasted in, or implied by, the forward-looking statements. In evaluating these forward-looking statements, the risks and uncertainties described in “Item 1A. Risk Factors” above and elsewhere in this report and in our other SEC filings should be carefully considered.
Content analysis
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New words:
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Removed:
accreting, accrue, Aditya, Alba, Arvind, Badgley, Bay, Birla, BIU, breakdown, classification, classified, cliff, comparative, consolidating, consulting, deduction, defending, demographic, Dwight, Eva, execution, exit, extinguishment, feature, flex, harmed, Haugh, Howard, Hudson, implementation, imposing, Initiating, institutional, Jessica, Lil, limiting, Longoria, Mischka, MJCLK, Neil, null, Nuvo, operation, ordered, PacSun, pattern, peer, point, recording, reform, released, reliable, remained, remediate, remediated, remediation, research, reside, retrospective, revising, satisfactory, Shakira, Shortcake, Strawberry, suffer, surrendered, syndication, ticking, Titan, transitional, treatment, unfunded, Untld, varying, Wayne
Financial reports
10-K
2020 FY
Annual report
31 Mar 21
10-Q
2020 Q3
Quarterly report
16 Nov 20
10-Q
2020 Q2
Quarterly report
12 Aug 20
10-Q
2020 Q1
Quarterly report
12 May 20
10-K
2019 FY
Annual report
30 Mar 20
10-Q
2019 Q3
Quarterly report
13 Nov 19
10-Q
2019 Q2
Quarterly report
13 Aug 19
10-Q
2019 Q1
Quarterly report
15 May 19
10-K
2018 FY
Annual report
28 Mar 19
10-Q/A
2018 Q1
Quarterly report (amended)
20 Nov 18
Current reports
8-K
Iconix Reports Financial Results for the Fourth Quarter & Full Year 2020
31 Mar 21
8-K
Other Events
24 Mar 21
8-K
Other Events
28 Jan 21
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
4 Jan 21
8-K
Other Events
4 Dec 20
8-K
Iconix Reports Financial Results for the Third Quarter 2020
16 Nov 20
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
2 Oct 20
8-K
Other Events
29 Sep 20
8-K
Iconix Reports Financial Results for the Second Quarter 2020
12 Aug 20
8-K
Other Events
4 Aug 20
Registration and prospectus
S-8
Registration of securities for employees
7 May 18
8-A12B/A
Registration of securities on exchange (amended)
11 Dec 16
S-8
Registration of securities for employees
11 Dec 16
8-A12B
Registration of securities on exchange
27 Jan 16
S-8
Registration of securities for employees
4 Oct 12
S-8
Registration of securities for employees
17 Aug 09
424B3
Prospectus supplement
3 Jun 09
FWP
Free writing prospectus
3 Jun 09
424B3
Prospectus supplement
31 May 09
S-3ASR
Automatic shelf registration
31 May 09
Proxies
DEFA14A
Additional proxy soliciting materials
29 Apr 20
DEF 14A
Definitive proxy
29 Apr 20
DEF 14A
Definitive proxy
11 Apr 19
PRE 14A
Preliminary proxy
1 Apr 19
DEF 14A
Definitive proxy
26 Aug 18
PRE 14A
Preliminary proxy
17 Aug 18
DEFA14A
Additional proxy soliciting materials
27 Jul 18
DEFA14A
Additional proxy soliciting materials
26 Jul 18
DEFA14A
Additional proxy soliciting materials
18 Jun 18
DEFA14A
Additional proxy soliciting materials
15 Jun 18
Other
UPLOAD
Letter from SEC
28 Feb 18
CORRESP
Correspondence with SEC
12 Feb 18
UPLOAD
Letter from SEC
30 Jan 18
CORRESP
Correspondence with SEC
11 Jan 18
CORRESP
Correspondence with SEC
21 Nov 17
CORRESP
Correspondence with SEC
24 Oct 17
UPLOAD
Letter from SEC
19 Oct 17
CT ORDER
Confidential treatment order
31 Jul 17
UPLOAD
Letter from SEC
6 Nov 16
CORRESP
Correspondence with SEC
27 Oct 16
Ownership
4
ICONIX BRAND / Robert Galvin ownership change
1 Apr 21
4
ICONIX BRAND / JOHN MCCLAIN ownership change
9 Mar 21
4
ICONIX BRAND / Robert Galvin ownership change
9 Mar 21
SC 13G/A
ICONIX BRAND / Mudrick Capital Management ownership change
12 Feb 21
SC 13G/A
ICONIX BRAND / UBS ASSET MANAGEMENT AMERICAS ownership change
12 Feb 21
SC 13G
ICONIX BRAND / Mudrick Capital Management ownership change
21 May 20
4
ICONIX BRAND / Robert Galvin ownership change
2 Apr 20
SC 13G/A
Beneficial ownership report (amended)
14 Feb 20
4
ICONIX BRAND / JOHN MCCLAIN ownership change
13 Feb 20
SC 13G/A
Iconix Brand Group, Inc.
12 Feb 20
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