secwatch.observer — SEC 8-K summary
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Issuer:     Laird Superfood, Inc. (LSF)
CIK:        0001650696
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0000950170-23-040619
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Laird Superfood Q2 net sales $7.7M, net loss $3.5M, gross margin up 610 bps to 24.3%
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- Net sales $7.7M, down vs $8.1M Q1 2023 and $8.7M prior year; wholesale up 2.6% YoY; e-commerce down 20.1% YoY due to out-of-stock from Q1 product quality issue.
- Gross margin 24.3%, up 610 bps from 18.2% a year ago, driven by transition to variable-cost co-manufacturing; net loss $3.5M ($0.38/sh) vs $4.9M ($0.54/sh) prior year.
- Adjusted net loss $3.3M ($0.36/sh) improved from $6.2M ($0.68/sh) prior year; cash burn record low $1.4M; subscription base grew 10% sequentially, 21% YoY.
- Amazon out-of-stock issue from Q1 expected to fully resolve in Q3 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650696/000095017023040619/0000950170-23-040619-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650696/000095017023040619/lsf-20230809.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-040619

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