Laird Superfood Q1 net sales $8.1M (-13% YoY); gross margin improves to 23.1%

Laird Superfood, Inc.

2023-Q1 EPS reported -$0.45 revenue$8,112,938

Net sales $8.1M vs $9.3M in Q1 2022, a 13% decline.
Gross margin 23.1% vs 20.9% a year ago and (4.6)% in Q4 2022.
Adjusted gross margin (non-GAAP) 27.0%, excluding one-time raw material quality costs.
E-commerce sales down 18.4% YoY; wholesale down 5.9% (flat ex one-time charges).
Completed supply chain transformation to co-manufacturing, reducing fixed overhead.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Laird Superfood, Inc. reported first quarter ended March 31, 2023 results: revenue Net Sales of $8.1 million.

Period: first quarter ended March 31, 2023
Revenue: Net Sales of $8.1 million
Result: reported results

Exact text from the filing

American: LSF) (“Laird Superfood,” “we” and “our”), today reported financial results for its first quarter ended March 31, 2023. First Quarter 2023 Highlights • Net Sales of $8.1 million, in line with our annual operating plan, compared to $9.3 million in the prior year period. • Wholesale contributed 45% of total Net Sales and decreased 5.9% year-over-year,

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Source: SEC EDGAR

accession 0000950170-23-020481

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