Latest news with #LairdSuperfood
Daily Mail
3 days ago
- Business
- Daily Mail
Are you getting the protein YOU need? Save 20% on the plant-based solution packed with adaptogens that revs up your metabolism and boosts energy
How do you know if you're getting enough protein? It's absolutely vital for getting through every day with energy and strength. It becomes even more important as you grow older, helping support muscle mass and strength levels. If you're looking for an easy and tasty way to boost your intake, Laird Superfood Protein Creamer is a smart option. It's also a responsible choice, supporting your overall health while protecting you from some of the effects linked to muscle mass loss. Enter code DAILYMAIL20 at checkout to score 20 percent off and free shipping. Laird Superfood Protein Creamer Take control of your protein intake with a creamer that's jam-packed with 12 grams of plant-based protein. With adaptogens added, this deliciously sweet, nutritious creamer blends easily into anything from coffee to smoothies. It's the perfect choice if you're aiming to boost your protein intake, rev up your metabolism, and preserve muscle mass. Enter DAILYMAIL20 at checkout to save 20 percent sitewide and get free shipping, too. Save 20% Shop Low protein intake isn't an uncommon issue. According to nutritionists, even if you think you're consuming enough it's possible you aren't getting quite what you need. That can lead to a whole slew of side effects, including weakness, fatigue, and mood fluctuations. And with the natural loss of muscle that comes with age, it's especially critical to prioritize your protein intake. Laird Superfood Protein Creamer is packed with what you need: 12 grams of plant-based protein in each serving in a creamer that is so much more than an ordinary creamer. The product unites the brand's fan-favorite Sweet and Creamy Superfood Creamer with protein and adaptogens, yielding a nourishing medley that supports you fully. Among its key ingredients is coconut milk powder, a lactose-free, antioxidant-packed milk alternative. It also contains the so-called 'king of mushrooms,' organic chaga mushroom extract. It's an immunity powerhouse, especially as it's combined with organic cordyceps mushroom extract, organic maitake mushroom extract, and organic lion's mane mushroom extract. Also in the mix is pea protein, organic hemp protein (which is chock full of 20 amino acids), unroasted pumpkin seed protein, and organic coconut sugar for sweetness. The creamer is the definition of clean, with a vegan, gluten-free, dairy-free, soy-free, and non-GMO composition that is just as delicious as it is nutritious. And you can use it in different ways — it's non-chalky and doesn't have a gross aftertaste, so you can easily stir it into coffee or even a smoothie. Just this one small switch like this can have a great impact on your health, whether your goal is to preserve lea muscle or boost your energy levels and give your metabolism a kick. The glowing reviews speak for themselves, as happy customers say it's a great addition to their coffee. 'Great taste and exactly what I need to start the day strong and to help rebuild and recover after a previous day of workouts,' raved one shopper. 'It's one of the best creamers on the market!' exclaimed another. 'The coffee tastes deliciously smooth and creamy.' A third said, 'This is a new favorite! I was pleasantly surprised — how smooth and creamy! So delicious, the perfect flavor and sweetness.' If you're ready to make a big change, now is the time to become a Laird Superfood Protein Creamer convert! Don't forget to enter code DAILYMAIL20 at checkout to get your 20 percent discount sitewide and free shipping.
Business Wire
07-05-2025
- Business
- Business Wire
Laird Superfood Reports First Quarter 2025 Financial Results
BOULDER, Colo.--(BUSINESS WIRE)--Laird Superfood, Inc. (NYSE American: LSF) ('Laird Superfood,' the 'Company', 'we', and 'our'), today reported financial results for the first quarter ended March 31, 2025. Jason Vieth, Chief Executive Officer, commented, 'I am pleased to report another strong quarter of Net Sales growth for Laird Superfood. Our Q1 results represent the fifth consecutive quarter of double-digit year-over-year sales growth, which was once again driven by our strategic expansion into brick-and-mortar stores and through Amazon. Our growth in Q1 demonstrates the sustained momentum of our business and comes despite the impact of the previously reported out-of-stocks that occurred as a result of stronger than expected creamer and latte sales during the fourth quarter of 2024. To that end, I am pleased to report that we are now beyond the inventory issues and supply constraints on these products – and have built a more flexible and adaptive Supply Chain in the process. During the quarter, our Gross Margin proved to be as resilient as expected despite the recent, historic run-up in commodities such as coffee prices and coconut milk powder. That strength translated to our bottom-line result as well, with an $860 thousand narrowing of our Net Loss and a positive $400 thousand Adjusted EBITDA for the quarter. This result demonstrates the leverage that we expect to gain as we grow our business from here, and along with our strong Net Sales growth, highlights another outstanding quarter in our Laird Superfood turnaround story.' First Quarter 2025 Highlights Net Sales of $11.7 million compared to $9.9 million in the corresponding prior year period and $11.6 million in the fourth quarter of 2024. E-commerce sales increased by 6% year-over-year and contributed 53% of total Net Sales, with significant improvements in media efficiency and strong performance on Wholesale sales increased by 35% year-over-year and contributed 47% of total Net Sales, primarily driven by distribution gains in grocery and club stores, partially offset by increased promotional trade spend. Gross Margin was 41.9% compared to 40.0% in the corresponding prior year period, and 38.6% in the fourth quarter of 2024. Increased absorption of overhead related to inbound freight in the current quarter resulting from increased inventory purchases accounted for approximately 3.3 points of Gross Margin in Q1 2025. Gross Margin is expected to normalize for the balance of the year to achieve a high 30s percent for the full year in accordance with our guidance. Net Loss was $0.2 million, or $0.02 per diluted share, compared to Net Loss of $1.0 million, or $0.11 per diluted share, in the corresponding prior year period and Net Loss of $0.4 million, or $0.04 per diluted share, in the fourth quarter of 2024. The improvement was driven by Gross Margin expansion, as well as lower marketing, and general and administrative (G&A) costs. Adjusted earnings before interest, taxes, depreciation, amortization, stock-based compensation, and non-recurring items ('adjusted EBITDA'), which is a non-GAAP financial measure, was $0.4 million, or $0.03 per diluted share, compared to ($0.7) million, or ($0.08) per diluted share, in the corresponding prior year period and $0.2 million, or $0.01 per diluted share, in the fourth quarter of 2024. For more details on non-GAAP financial measures, refer to the information in the non-GAAP financial measures section of this press release. Three Months Ended March 31, 2025 2024 $ % of Total $ % of Total Coffee creamers $ 6,712,651 58 % $ 5,570,321 56 % Coffee, tea, and hot chocolate products 3,220,892 28 % 2,175,265 22 % Hydration and beverage enhancing products 2,106,179 18 % 2,025,272 20 % Snacks and other food items 1,430,729 12 % 1,304,060 13 % Other 71,682 1 % 122,012 1 % Gross sales 13,542,133 117 % 11,196,930 112 % Shipping income 122,274 1 % 111,428 1 % Discounts and promotional activity (2,010,248 ) (18 )% (1,399,420 ) (13 )% Sales, net $ 11,654,159 100 % $ 9,908,938 100 % Expand Three Months Ended March 31, 2025 2024 $ % of Total $ % of Total E-commerce $ 6,213,116 53 % $ 5,868,337 59 % Wholesale 5,441,043 47 % 4,040,601 41 % Sales, net $ 11,654,159 100 % $ 9,908,938 100 % Expand Balance Sheet and Cash Flow Highlights We had $7.2 million of cash, cash equivalents, and restricted cash as of March 31, 2025, and no outstanding debt. Cash used in operating activities was $1.3 million for the three months ended March 31, 2025, compared to cash used in operating activities of $0.4 million in the same period in 2024. The increase in cash used relative to the corresponding prior year period was driven by strategic investment into working capital to meet high demand for our products and to address the out-of-stocks experienced at the end of 2024 and in Q1 2025. 2025 Outlook Management's strategy is to drive growth well in excess of the consumer goods and food industry averages: Management re-affirms Net Sales growth in the 20% to 25% range, driven by continued expansion across Wholesale accounts and further penetration of consumers on e-commerce platforms. Gross Margin is expected to hold in the upper 30s, despite inflation in commodities and other cost pressures. Breakeven adjusted EBITDA. Cash use of $1 to $2 million for the full year to invest in inventory to support top line growth and to minimize out-of-stocks. Conference Call and Webcast Details We will host a conference call and webcast at 5:00 p.m. ET today to discuss our financial results. Participants may access the live webcast on the Laird Superfood Investor Relations website at under 'Events'. The webcast will be archived on the Company's website and will be available for replay for at least two weeks. About Laird Superfood Laird Superfood, Inc. creates award-winning, plant-based superfood products that are clean, delicious, and functional. Our products are designed to enhance a consumer's daily ritual and keep them fueled naturally throughout the day. Laird Superfood was co-founded in 2015 by the world's most prolific big-wave surfer, Laird Hamilton. Laird Superfood's offerings are environmentally conscientious, responsibly tested and made with real ingredients. Shop all products online at and join the Laird Superfood community on social media for the latest news and daily doses of inspiration. Forward-Looking Statements This press release and the conference call referencing this press release contain 'forward-looking' statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Laird Superfood's anticipated cash runway, future financial performance, and growth. Such forward-looking statements may be identified by words such as "anticipates," "believes," "continues," "could," "estimates," "expects," "intends," "may," "outlook," "plans," "potential," predicts," "projects," "seeks," "should," "will," "would", or the antonyms of these terms or other comparable terminology. These forward-looking statements are based on Laird Superfood's current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Laird Superfood's actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. We expressly disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The risks and uncertainties referred to above include, but are not limited to: (1) the effects of global outbreaks of pandemics or contagious diseases or fear of such outbreaks, including on our supply chain, the demand for our products, and on overall economic conditions and consumer confidence and spending levels; (2) volatility regarding our revenue, expenses, including shipping expenses, and other operating results; (3) our ability to acquire new direct and wholesale customers and successfully retain existing customers; (4) our ability to attract and retain our suppliers, distributors and co-manufacturers, and effectively manage their costs and performance; (5) effects of real or perceived quality or health issues with our products or other issues that adversely affect our brand and reputation; (6) our ability to innovate on a timely and cost-effective basis, predict changes in consumer preferences and develop successful new products, or updates to existing products, and develop innovative marketing strategies; (7) adverse developments regarding prices and availability of raw materials and other inputs, a substantial amount of which come from a limited number of suppliers outside the United States, including in areas which may be adversely affected by climate change; (8) effects of changes in the tastes and preferences of our consumers and consumer preferences for natural and organic food products; (9) the financial condition of, and our relationships with, our suppliers, co-manufacturers, distributors, retailers and food service customers, as well as the health of the food service industry generally; (10) the ability of ourselves, our suppliers and co-manufacturers to comply with food safety, environmental or other laws or regulations; (11) our plans for future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements, including our ability to continue as a going concern; (12) the costs and success of our marketing efforts, and our ability to promote our brand; (13) our reliance on our executive team and other key personnel and our ability to identify, recruit and retain skilled and general working personnel; (14) our ability to effectively manage our growth; (15) our ability to compete effectively with existing competitors and new market entrants; (16) the impact of adverse economic conditions; (17) the growth rates of the markets in which we compete, and (18) the other risks described in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings we make with the Securities and Exchange Commission. LAIRD SUPERFOOD, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) Three Months Ended March 31, 2025 2024 Cash flows from operating activities Net loss $ (156,182 ) $ (1,016,522 ) Adjustments to reconcile net loss to net cash from operating activities: Depreciation and amortization 66,521 71,435 Stock-based compensation 508,410 279,565 Provision for inventory obsolescence 101,715 43,204 Other operating activities, net 24,575 64,948 Changes in operating assets and liabilities: Accounts receivable (556,239 ) (1,069,238 ) Inventory (3,638,003 ) 646,231 Prepaid expenses and other current assets 576,688 217,889 Operating lease liability (26,492 ) (32,254 ) Accounts payable 1,032,391 70,901 Accrued expenses 751,038 276,051 Related party liabilities 40,834 25,479 Net cash from operating activities (1,274,744 ) (422,311 ) Cash flows from investing activities (72,214 ) — Cash flows from financing activities (3,832 ) 4,791 Net change in cash and cash equivalents (1,350,790 ) (417,520 ) Cash, cash equivalents, and restricted cash, beginning of period 8,514,152 7,706,806 Cash, cash equivalents, and restricted cash, end of period $ 7,163,362 $ 7,289,286 Supplemental disclosures of non-cash financing activities Prepaid expenses paid for with a short-term financing arrangement included in accrued expenses $ 83,379 $ — Taxes withheld to cover net issuances of incentive stock awards included in accrued expenses $ 214,489 $ — Expand LAIRD SUPERFOOD, INC. CONSOLIDATED BALANCE SHEETS (unaudited) As of March 31, 2025 December 31, 2024 Assets Current assets Cash, cash equivalents, and restricted cash $ 7,163,362 $ 8,514,152 Accounts receivable, net 2,317,635 1,762,911 Inventory 9,511,964 5,975,676 Prepaid expenses and other current assets 1,220,580 1,713,889 Total current assets 20,213,541 17,966,628 Noncurrent assets Property and equipment, net 109,195 58,447 Intangible assets, net 851,068 896,123 Related party license agreements 132,100 132,100 Right-of-use assets 187,127 205,703 Total noncurrent assets 1,279,490 1,292,373 Total assets $ 21,493,031 $ 19,259,001 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 3,170,151 $ 2,137,760 Accrued expenses 4,691,904 3,642,998 Related party liabilities 75,781 34,947 Lease liabilities, current portion 106,761 105,966 Total current liabilities 8,044,597 5,921,671 Lease liabilities 117,661 140,464 Total liabilities 8,162,258 6,062,135 Stockholders' equity Common stock, $0.001 par value, 100,000,000 shares authorized at March 31, 2025 and December 31, 2024; 10,805,361 and 10,429,030 issued and outstanding at March 31, 2025, respectively; and 10,668,705 and 10,292,374 issued and outstanding at December 31, 2024, respectively. 10,429 10,292 Additional paid-in capital 121,594,836 121,304,884 Accumulated deficit (108,274,492 ) (108,118,310 ) Total stockholders' equity 13,330,773 13,196,866 Total liabilities and stockholders' equity $ 21,493,031 $ 19,259,001 Expand LAIRD SUPERFOOD, INC. NON-GAAP FINANCIAL MEASURES (unaudited) In this press release, we report Adjusted EBITDA and Adjusted EBITDA per diluted share, which are financial measures not required by, or presented in accordance with, accounting principles generally accepted in the United States of America ('GAAP'). The Company's management uses non-GAAP financial measures, both internally and externally, to assess and communicate the financial performance of the Company. The Company defines Adjusted EBITDA as net income (loss), adjusted to exclude: (1) interest expense and other (income) loss, (2) income tax (benefit) expense, (3) depreciation and amortization expenses, (4) stock-based compensation, and (5) expenses and recoveries related to a product quality issue. The Company believes Adjusted EBITDA is useful to investors because it facilitates comparisons of its core business operations, excluding non-cash costs and non-recurring events, across periods on a consistent basis. Management uses Adjusted EBITDA internally in analyzing the Company's financial results to assess operational performance and to determine the Company's future capital requirements. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. The Company believes that both management and investors benefit from referring to Adjusted EBITDA in assessing its performance and when planning, forecasting and analyzing future periods. The Company believes Adjusted EBITDA is useful to investors and others to understand and evaluate the Company's operating results and it allows for a more meaningful comparison between the Company's performance and that of competitors. Our use of Adjusted EBITDA has limitations as an analytical tool, and you should not consider this performance measure in isolation from or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are that Adjusted EBITDA does not reflect, among other things: cash capital expenditures for assets underlying depreciation and amortization expense that may need to be replaced or for new capital expenditures; interest expense; income tax expense from continuing operations; our working capital requirements; the potentially dilutive impact of stock-based compensation; and the provision for income taxes. Other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you should consider Adjusted EBITDA along with other financial performance measures, including Net Sales, net loss, cash and cash equivalents, restricted cash, net cash used in operating activities and our financial results presented in accordance with GAAP. The following table presents a reconciliation of net income (loss), the most directly comparable financial measure stated in accordance with GAAP, to adjusted EBITDA, for each of the periods presented: (a) In January 2023, we identified a product quality issue with raw material from one vendor and we voluntarily withdrew any affected finished goods. We previously incurred costs associated with product testing, discounts for replacement orders, and inventory obsolescence costs. We reached settlement with a supplier in the third quarter of 2023 and recorded recoveries in 2024. Expand
Yahoo
07-05-2025
- Business
- Yahoo
Laird Superfood Reports First Quarter 2025 Financial Results
Adjusted earnings before interest, taxes, depreciation, amortization, stock-based compensation, and non-recurring items ("adjusted EBITDA"), which is a non-GAAP financial measure, was $0.4 million, or $0.03 per diluted share, compared to ($0.7) million, or ($0.08) per diluted share, in the corresponding prior year period and $0.2 million, or $0.01 per diluted share, in the fourth quarter of 2024. For more details on non-GAAP financial measures, refer to the information in the non-GAAP financial measures section of this press release. Net Loss was $0.2 million, or $0.02 per diluted share, compared to Net Loss of $1.0 million, or $0.11 per diluted share, in the corresponding prior year period and Net Loss of $0.4 million, or $0.04 per diluted share, in the fourth quarter of 2024. The improvement was driven by Gross Margin expansion, as well as lower marketing, and general and administrative (G&A) costs. Gross Margin was 41.9% compared to 40.0% in the corresponding prior year period, and 38.6% in the fourth quarter of 2024. Increased absorption of overhead related to inbound freight in the current quarter resulting from increased inventory purchases accounted for approximately 3.3 points of Gross Margin in Q1 2025. Gross Margin is expected to normalize for the balance of the year to achieve a high 30s percent for the full year in accordance with our guidance. Net Sales of $11.7 million compared to $9.9 million in the corresponding prior year period and $11.6 million in the fourth quarter of 2024. During the quarter, our Gross Margin proved to be as resilient as expected despite the recent, historic run-up in commodities such as coffee prices and coconut milk powder. That strength translated to our bottom-line result as well, with an $860 thousand narrowing of our Net Loss and a positive $400 thousand Adjusted EBITDA for the quarter. This result demonstrates the leverage that we expect to gain as we grow our business from here, and along with our strong Net Sales growth, highlights another outstanding quarter in our Laird Superfood turnaround story." Jason Vieth, Chief Executive Officer, commented, "I am pleased to report another strong quarter of Net Sales growth for Laird Superfood. Our Q1 results represent the fifth consecutive quarter of double-digit year-over-year sales growth, which was once again driven by our strategic expansion into brick-and-mortar stores and through Amazon. Our growth in Q1 demonstrates the sustained momentum of our business and comes despite the impact of the previously reported out-of-stocks that occurred as a result of stronger than expected creamer and latte sales during the fourth quarter of 2024. To that end, I am pleased to report that we are now beyond the inventory issues and supply constraints on these products – and have built a more flexible and adaptive Supply Chain in the process. BOULDER, Colo., May 07, 2025 --( BUSINESS WIRE )--Laird Superfood, Inc. (NYSE American: LSF) ("Laird Superfood," the "Company", "we", and "our"), today reported financial results for the first quarter ended March 31, 2025. Story Continues Revenue Disaggregation Three Months Ended March 31, 2025 2024 $ % of Total $ % of Total Coffee creamers $ 6,712,651 58 % $ 5,570,321 56 % Coffee, tea, and hot chocolate products 3,220,892 28 % 2,175,265 22 % Hydration and beverage enhancing products 2,106,179 18 % 2,025,272 20 % Snacks and other food items 1,430,729 12 % 1,304,060 13 % Other 71,682 1 % 122,012 1 % Gross sales 13,542,133 117 % 11,196,930 112 % Shipping income 122,274 1 % 111,428 1 % Discounts and promotional activity (2,010,248 ) (18 )% (1,399,420 ) (13 )% Sales, net $ 11,654,159 100 % $ 9,908,938 100 % Three Months Ended March 31, 2025 2024 $ % of Total $ % of Total E-commerce $ 6,213,116 53 % $ 5,868,337 59 % Wholesale 5,441,043 47 % 4,040,601 41 % Sales, net $ 11,654,159 100 % $ 9,908,938 100 % Balance Sheet and Cash Flow Highlights We had $7.2 million of cash, cash equivalents, and restricted cash as of March 31, 2025, and no outstanding debt. Cash used in operating activities was $1.3 million for the three months ended March 31, 2025, compared to cash used in operating activities of $0.4 million in the same period in 2024. The increase in cash used relative to the corresponding prior year period was driven by strategic investment into working capital to meet high demand for our products and to address the out-of-stocks experienced at the end of 2024 and in Q1 2025. 2025 Outlook Management's strategy is to drive growth well in excess of the consumer goods and food industry averages: Management re-affirms Net Sales growth in the 20% to 25% range, driven by continued expansion across Wholesale accounts and further penetration of consumers on e-commerce platforms. Gross Margin is expected to hold in the upper 30s, despite inflation in commodities and other cost pressures. Breakeven adjusted EBITDA. Cash use of $1 to $2 million for the full year to invest in inventory to support top line growth and to minimize out-of-stocks. Conference Call and Webcast Details We will host a conference call and webcast at 5:00 p.m. ET today to discuss our financial results. Participants may access the live webcast on the Laird Superfood Investor Relations website at under "Events". The webcast will be archived on the Company's website and will be available for replay for at least two weeks. About Laird Superfood Laird Superfood, Inc. creates award-winning, plant-based superfood products that are clean, delicious, and functional. Our products are designed to enhance a consumer's daily ritual and keep them fueled naturally throughout the day. Laird Superfood was co-founded in 2015 by the world's most prolific big-wave surfer, Laird Hamilton. Laird Superfood's offerings are environmentally conscientious, responsibly tested and made with real ingredients. Shop all products online at and join the Laird Superfood community on social media for the latest news and daily doses of inspiration. Forward-Looking Statements This press release and the conference call referencing this press release contain "forward-looking" statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Laird Superfood's anticipated cash runway, future financial performance, and growth. Such forward-looking statements may be identified by words such as "anticipates," "believes," "continues," "could," "estimates," "expects," "intends," "may," "outlook," "plans," "potential," predicts," "projects," "seeks," "should," "will," "would", or the antonyms of these terms or other comparable terminology. These forward-looking statements are based on Laird Superfood's current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Laird Superfood's actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. We expressly disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The risks and uncertainties referred to above include, but are not limited to: (1) the effects of global outbreaks of pandemics or contagious diseases or fear of such outbreaks, including on our supply chain, the demand for our products, and on overall economic conditions and consumer confidence and spending levels; (2) volatility regarding our revenue, expenses, including shipping expenses, and other operating results; (3) our ability to acquire new direct and wholesale customers and successfully retain existing customers; (4) our ability to attract and retain our suppliers, distributors and co-manufacturers, and effectively manage their costs and performance; (5) effects of real or perceived quality or health issues with our products or other issues that adversely affect our brand and reputation; (6) our ability to innovate on a timely and cost-effective basis, predict changes in consumer preferences and develop successful new products, or updates to existing products, and develop innovative marketing strategies; (7) adverse developments regarding prices and availability of raw materials and other inputs, a substantial amount of which come from a limited number of suppliers outside the United States, including in areas which may be adversely affected by climate change; (8) effects of changes in the tastes and preferences of our consumers and consumer preferences for natural and organic food products; (9) the financial condition of, and our relationships with, our suppliers, co-manufacturers, distributors, retailers and food service customers, as well as the health of the food service industry generally; (10) the ability of ourselves, our suppliers and co-manufacturers to comply with food safety, environmental or other laws or regulations; (11) our plans for future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements, including our ability to continue as a going concern; (12) the costs and success of our marketing efforts, and our ability to promote our brand; (13) our reliance on our executive team and other key personnel and our ability to identify, recruit and retain skilled and general working personnel; (14) our ability to effectively manage our growth; (15) our ability to compete effectively with existing competitors and new market entrants; (16) the impact of adverse economic conditions; (17) the growth rates of the markets in which we compete, and (18) the other risks described in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings we make with the Securities and Exchange Commission. LAIRD SUPERFOOD, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended March 31, 2025 2024 Sales, net $ 11,654,159 $ 9,908,938 Cost of goods sold (6,772,619 ) (5,944,837 ) Gross profit 4,881,540 3,964,101 General and administrative Salaries, wages, and benefits 1,158,155 922,407 Other general and administrative 1,085,609 1,235,341 Total general and administrative expenses 2,243,764 2,157,748 Sales and marketing Marketing and advertising 1,731,036 2,053,258 Selling 1,055,570 779,156 Related party marketing agreements 69,189 62,501 Total sales and marketing expenses 2,855,795 2,894,915 Total operating expenses 5,099,559 5,052,663 Operating loss (218,019 ) (1,088,562 ) Other income 74,448 110,997 Loss before income taxes (143,571 ) (977,565 ) Income tax expense (12,611 ) (38,957 ) Net loss $ (156,182 ) $ (1,016,522 ) Net loss per share: Basic and diluted $ (0.02 ) $ (0.11 ) Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted 10,345,495 9,401,605 LAIRD SUPERFOOD, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) Three Months Ended March 31, 2025 2024 Cash flows from operating activities Net loss $ (156,182 ) $ (1,016,522 ) Adjustments to reconcile net loss to net cash from operating activities: Depreciation and amortization 66,521 71,435 Stock-based compensation 508,410 279,565 Provision for inventory obsolescence 101,715 43,204 Other operating activities, net 24,575 64,948 Changes in operating assets and liabilities: Accounts receivable (556,239 ) (1,069,238 ) Inventory (3,638,003 ) 646,231 Prepaid expenses and other current assets 576,688 217,889 Operating lease liability (26,492 ) (32,254 ) Accounts payable 1,032,391 70,901 Accrued expenses 751,038 276,051 Related party liabilities 40,834 25,479 Net cash from operating activities (1,274,744 ) (422,311 ) Cash flows from investing activities (72,214 ) — Cash flows from financing activities (3,832 ) 4,791 Net change in cash and cash equivalents (1,350,790 ) (417,520 ) Cash, cash equivalents, and restricted cash, beginning of period 8,514,152 7,706,806 Cash, cash equivalents, and restricted cash, end of period $ 7,163,362 $ 7,289,286 Supplemental disclosures of non-cash financing activities Prepaid expenses paid for with a short-term financing arrangement included in accrued expenses $ 83,379 $ — Taxes withheld to cover net issuances of incentive stock awards included in accrued expenses $ 214,489 $ — LAIRD SUPERFOOD, INC. CONSOLIDATED BALANCE SHEETS (unaudited) As of March 31, 2025 December 31, 2024 Assets Current assets Cash, cash equivalents, and restricted cash $ 7,163,362 $ 8,514,152 Accounts receivable, net 2,317,635 1,762,911 Inventory 9,511,964 5,975,676 Prepaid expenses and other current assets 1,220,580 1,713,889 Total current assets 20,213,541 17,966,628 Noncurrent assets Property and equipment, net 109,195 58,447 Intangible assets, net 851,068 896,123 Related party license agreements 132,100 132,100 Right-of-use assets 187,127 205,703 Total noncurrent assets 1,279,490 1,292,373 Total assets $ 21,493,031 $ 19,259,001 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 3,170,151 $ 2,137,760 Accrued expenses 4,691,904 3,642,998 Related party liabilities 75,781 34,947 Lease liabilities, current portion 106,761 105,966 Total current liabilities 8,044,597 5,921,671 Lease liabilities 117,661 140,464 Total liabilities 8,162,258 6,062,135 Stockholders' equity Common stock, $0.001 par value, 100,000,000 shares authorized at March 31, 2025 and December 31, 2024; 10,805,361 and 10,429,030 issued and outstanding at March 31, 2025, respectively; and 10,668,705 and 10,292,374 issued and outstanding at December 31, 2024, respectively. 10,429 10,292 Additional paid-in capital 121,594,836 121,304,884 Accumulated deficit (108,274,492 ) (108,118,310 ) Total stockholders' equity 13,330,773 13,196,866 Total liabilities and stockholders' equity $ 21,493,031 $ 19,259,001 LAIRD SUPERFOOD, INC. NON-GAAP FINANCIAL MEASURES (unaudited) In this press release, we report Adjusted EBITDA and Adjusted EBITDA per diluted share, which are financial measures not required by, or presented in accordance with, accounting principles generally accepted in the United States of America ("GAAP"). The Company's management uses non-GAAP financial measures, both internally and externally, to assess and communicate the financial performance of the Company. The Company defines Adjusted EBITDA as net income (loss), adjusted to exclude: (1) interest expense and other (income) loss, (2) income tax (benefit) expense, (3) depreciation and amortization expenses, (4) stock-based compensation, and (5) expenses and recoveries related to a product quality issue. The Company believes Adjusted EBITDA is useful to investors because it facilitates comparisons of its core business operations, excluding non-cash costs and non-recurring events, across periods on a consistent basis. Management uses Adjusted EBITDA internally in analyzing the Company's financial results to assess operational performance and to determine the Company's future capital requirements. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. The Company believes that both management and investors benefit from referring to Adjusted EBITDA in assessing its performance and when planning, forecasting and analyzing future periods. The Company believes Adjusted EBITDA is useful to investors and others to understand and evaluate the Company's operating results and it allows for a more meaningful comparison between the Company's performance and that of competitors. Our use of Adjusted EBITDA has limitations as an analytical tool, and you should not consider this performance measure in isolation from or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are that Adjusted EBITDA does not reflect, among other things: cash capital expenditures for assets underlying depreciation and amortization expense that may need to be replaced or for new capital expenditures; interest expense; income tax expense from continuing operations; our working capital requirements; the potentially dilutive impact of stock-based compensation; and the provision for income taxes. Other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you should consider Adjusted EBITDA along with other financial performance measures, including Net Sales, net loss, cash and cash equivalents, restricted cash, net cash used in operating activities and our financial results presented in accordance with GAAP. The following table presents a reconciliation of net income (loss), the most directly comparable financial measure stated in accordance with GAAP, to adjusted EBITDA, for each of the periods presented: Three Months Ended March 31, 2025 2024 Net loss $ (156,182 ) $ (1,016,522 ) Adjusted for: Depreciation and amortization 66,521 71,435 Stock-based compensation 508,410 279,565 Income tax expense 12,611 38,957 Interest expense and other (income) expense, net (74,448 ) (110,997 ) Product quality issue (a) — (11,195 ) Adjusted EBITDA $ 356,912 $ (748,757 ) Net loss per share, diluted: $ (0.02 ) $ (0.11 ) Adjusted EBITDA per share, diluted: $ 0.03 $ (0.08 ) Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic 10,345,495 9,401,605 Dilutive securities 1,514,828 — Weighted-average shares of common stock outstanding used in computing adjusted EBITDA per share of common stock, diluted 11,860,323 9,401,605 (a) In January 2023, we identified a product quality issue with raw material from one vendor and we voluntarily withdrew any affected finished goods. We previously incurred costs associated with product testing, discounts for replacement orders, and inventory obsolescence costs. We reached settlement with a supplier in the third quarter of 2023 and recorded recoveries in 2024. View source version on Contacts Investor Relations Contact Trevor Rousseau investors@
Business Wire
23-04-2025
- Business
- Business Wire
Laird Superfood to Report First Quarter 2025 Financial Results on May 7, 2025
BOULDER, Colo.--(BUSINESS WIRE)--Laird Superfood, Inc. (NYSE American: LSF) will report financial results for the first quarter ended March 31, 2025 on Wednesday, May 7, 2025 after market close. Management will host a webcast at 5:00 p.m. ET on the same day to discuss the results. Participants may access the live webcast on the Laird Superfood Investor Relations website at under 'Events.' About Laird Superfood (NYSE American: LSF) Laird Superfood, Inc. creates award-winning, plant-based superfood products that are both delicious and functional. The Company's products are designed to enhance your daily ritual and keep consumers fueled naturally throughout the day. The Company was co-founded in 2015 by the world's most prolific big-wave surfer, Laird Hamilton. Laird Superfood's offerings are environmentally conscientious, responsibly tested and made with real ingredients. Shop all products online at and join the Laird Superfood community on social media for the latest news and daily doses of inspiration.
Yahoo
23-04-2025
- Business
- Yahoo
Laird Superfood to Report First Quarter 2025 Financial Results on May 7, 2025
BOULDER, Colo., April 23, 2025--(BUSINESS WIRE)--Laird Superfood, Inc. (NYSE American: LSF) will report financial results for the first quarter ended March 31, 2025 on Wednesday, May 7, 2025 after market close. Management will host a webcast at 5:00 p.m. ET on the same day to discuss the results. Participants may access the live webcast on the Laird Superfood Investor Relations website at under "Events." About Laird Superfood (NYSE American: LSF) Laird Superfood, Inc. creates award-winning, plant-based superfood products that are both delicious and functional. The Company's products are designed to enhance your daily ritual and keep consumers fueled naturally throughout the day. The Company was co-founded in 2015 by the world's most prolific big-wave surfer, Laird Hamilton. Laird Superfood's offerings are environmentally conscientious, responsibly tested and made with real ingredients. Shop all products online at and join the Laird Superfood community on social media for the latest news and daily doses of inspiration. View source version on Contacts Laird Superfood, Inc. Trevor Rousseauinvestors@
