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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
CEO
Robert Galvin
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CANDIES INC
SEC CIK
IRS number
112481903

ICON stock data

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Calendar

31 Mar 21
17 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

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

Beta Read what these cash burn values mean

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

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 Prev Q Change
Total holders 1 1
Opened positions 0 0
Closed positions 0 22 EXIT
Increased positions 0 1 EXIT
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 1.77M 1.77M
Total shares 1.4M 1.4M
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Mudrick Capital Management 1.4M $1.77M 0.0%
Largest transactions
Shares Bought/sold Change
Mudrick Capital Management 1.4M 0 0.0%
Ubs Global Asset Management Americas 0 0

Financial report summary

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Competition
NikeExpressAdidas
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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