Company: SWAGW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109289
Chunk: 140

Company: Stran & Company, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 140
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 tax rate from the
comparison of 2025 and 2024 as noted above primarily relates to our estimated earnings and a partial release of the valuation allowance
on our gross deferred tax assets less deferred tax liabilities from period to period.

Net Loss

Our net loss for the three months ended September
30, 2025 was approximately $1.2 million, compared to net loss of approximately $2.0 million for the three months ended September 30, 2024.
This change was primarily due to an increase in gross profit, partially offset by an increase in operating expenses, for the reasons described
above.

35

Comparison of Nine Months Ended September
30, 2025 and 2024 

The following table sets forth key components of our results of operations
during the nine months ended September 30, 2025 and 2024 both in dollars and as a percentage of our sales.

    Nine Months Ended September 30, 

    2025  
    2024 
  
    SALES 
    Amount
 (in thousands)  
    % of
 Revenues  
    Amount 
(in thousands)  
    % of
 Revenues 
  
    Sales 
    $87,252  
     100.0% 
    $55,204  
     99.2%
  
    Sales – related parties 
     —  
     —% 
     460  
     0.8%
  
    Total sales 
     87,252  
     100.0% 
     55,664  
     100.0%

    COST OF SALES: 

    Cost of sales 
     61,829  
     70.9% 
     38,278  
     68.8%
  
    Cost of sales - related parties 
     —  
     —% 
     354  
     0.6%
  
    Total cost of sales 
     61,829  
     70.9% 
     38,632  
     69.4%

    GROSS PROFIT 
     25,423  
     29.1% 
     17,032  
     30.6%

    OPERATING EXPENSES: 

    General and administrative expenses 
     27,345  
     31.3% 
     20,993