Laird Superfood Q1 net sales up 22% to $9.9M; gross margin reaches 40%

Laird Superfood, Inc.

Net sales of $9.9M vs $8.1M YoY (22% increase); e-commerce sales up 33%, wholesale up 10%.
Gross margin of 40.0%, up from 23.1% YoY, driven by co-manufacturing shift and trade spend cuts.
Net loss improved to $1.0M ($0.11 diluted loss) from $4.1M ($0.45 loss) YoY; adjusted net loss $1.0M.
Raises 2024 net sales outlook to $38-42M (prior upper end) and gross margin guidance to 37-41%.
Cash balance $7.3M, no debt; management expects sufficient cash into 2026 and beyond.

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 the three months ended March 31, 2024 results: revenue $9.9 million, net income Net Loss was $1.0 million, or $0.11 per diluted share, EPS $0.11 per diluted share. Guidance raised.

Period: the three months ended March 31, 2024
Revenue: $9.9 million
Net income: Net Loss was $1.0 million, or $0.11 per diluted share
EPS: $0.11 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

the confidence that we have in our near-term financial results as well as the long-term strategies and financial future of Laird." First Quarter 2024 Highlights ● Net Sales of $ 9.9 million compared to $9.2 million in the prior quarter, and $ 8.1 million in the corresponding prior year period. ● Wholesale sales increased by 10% year-over-year and contributed 41% of

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Source: SEC EDGAR

accession 0001437749-24-015364

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