Laird Superfood posts first-ever positive Q4 net income; gross margin rises to 40.4%

Laird Superfood, Inc.

Q4 net income of $0.1M ($0.01 diluted EPS) vs $15.5M loss a year ago; first positive net income as public co.
Gross margin of 40.4% in Q4 vs -4.6% a year ago, driven by transition to variable-cost co-manufacturing model.
Cash balance $7.7M, no debt; company expects to fund operations into 2026 and remove going concern language from 10-K.
DTC e-commerce returned to growth (+10% YoY); Amazon sales declined 12% YoY. Total net sales flat at $9.2M.

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 fourth quarter ended December 31, 2023 results: revenue $9.2 million, net income $0.1 million, EPS $0.01.

Period: fourth quarter ended December 31, 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 0001437749-24-007570

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