Stran Q2 revenue up 18% to $17.5M; gross margin improves to 29.1% but net loss widens

Stran & Company, Inc.

2023-Q2 EPS reported -$0.08 revenue$33,246,353

Revenue $17.5M for Q2 2023, up 18% YoY; organic sales +11%.
Gross profit $5.1M (29.1% margin) vs $3.8M (25.4%) a year ago.
Net loss $0.8M vs $0.4M loss in Q2 2022, driven by higher operating expenses and purchasing costs.
Closed T R Miller acquisition in June 2023; all prior acquisitions now fully integrated.
Cash and investments ~$25.5M; company ranked among Top 40 distributors by ASI.

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 0.9

Stran & Company, Inc. reported the three months ended June 30, 2023 results: revenue $17.5 million, net income Net loss ... approximately $0.8 million.

Period: the three months ended June 30, 2023
Revenue: $17.5 million
Net income: Net loss ... approximately $0.8 million
Result: reported results

Exact text from the filing

2 ea183414ex99-1_stranandco.htm PRESS RELEASE DATED AUGUST 14, 2023 Exhibit 99.1 Stran & Company Reports 23% Increase in Six-Months Sales Year-Over-Year and Achieves Revenue of $17.5 Million for the Second Quarter of 2023 Conference call to be held today at 10:00 AM ET Quincy, MA / August 14, 2023 / Stran & Company, Inc. (“Stran” or the “Company”) (NASDAQ: SWAG)

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Stran & Company, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-066484

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