Laird Superfood Q2 sales up 64% to $9.2M; CEO Paul Hodge to step down

Laird Superfood, Inc.

Net sales $9.2M (+64% YoY); DTC up 94%, wholesale up 77%; net loss $6.3M ($0.70 per share).
Gross margin 23.9% vs 23.6% prior year; operating expenses doubled to $8.5M.
Cash and investments $43.6M, virtually no debt ($51k) as of June 30, 2021.
CEO Paul Hodge transitioning to non-executive role; board searching for successor with large CPG experience.
H1 2021 net sales $16.6M (+50%); operating loss $11.6M vs $5.0M in prior year.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Role change

Paul Hodge, Jr.

President and Chief Executive Officer

LSF · Laird Superfood, Inc.

Filed: August 11, 2021, 7:59 PM ET

On August 5, 2021, Paul Hodge, Jr. informed the Company’s Board of Directors that he intends to transition to a non-executive role and step down as President and Chief Executive Officer upon identifying an appropriate successor.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Paul Hodge, Jr. changed role as President and Chief Executive Officer at Laird Superfood, Inc..

Action: stepping down
Role: President and Chief Executive Officer

Exact text from the filing

On August 5, 2021, Paul Hodge, Jr. informed the Company’s Board of Directors that he intends to transition to a non-executive role and step down as President and Chief Executive Officer upon identifying an appropriate successor.

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Laird Superfood, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-21-243385

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