Laird Superfood posts first quarterly net income of $0.1M; gross margin 40.4%

Laird Superfood, Inc.

Q4 net sales $9.2M (flat vs Q3, +2% YoY); DTC grew 10% YoY; wholesale +3% YoY.
Gross margin 40.4% vs 31.0% in Q3 and -4.6% in Q4 2022; net income $0.1M ($0.01 EPS).
Cash balance $7.7M, no debt; no going-concern language expected in 2023 10-K.
Adjusted net income $20K; CEO calls Q4 best ever as public company.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Laird Superfood, Inc. reported Fourth Quarter and Fiscal Year 2023 results: revenue $9.2 million, net income $0.1 million, EPS $0.01.

Period: Fourth Quarter and Fiscal Year 2023
Revenue: $9.2 million
Net income: $0.1 million
EPS: $0.01
Result: reported results

Exact text from the filing

and our Annual Report on Form 10-K will not contain the going concern language that was included in our prior quarterly reports." Fourth Quarter 2023 Highlights ● Net Sales of $ 9.2 million compared to $9.2 million in the prior quarter, and $ 9.0 million in the prior year period. ● Wholesale contributed 34% of total Net Sales and increased by 3% year-over-year,

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Source: SEC EDGAR

accession 0001437749-24-007464

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