Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 682

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 2
Chunk 682
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 cost of sales was primarily due to the increase in sales of 8.8% from period to period.
For the Stran segment, the decrease was primarily due to a decrease in sales of approximately $3.3
million for the reasons described above. For the SLS segment, the increase was due to the
acquisition of the Gander Group Assets in August 2024.

Gross
Profit

Gross profit and gross margin percentages by segment
and in total were as follows (in thousands):

    Year Ended  
       
    Year Ended  
       
    Increase / (Decrease) 

      12/31/2024  
    % of Total  
      12/31/2023  
    % of Total  
    $  
    % 

    Stran 
    $23,742  
     92.0% 
    $24,852  
     100.0% 
    $(1,110) 
     (4.5)%
  
    SLS 
     2,071  
     8.0% 
     —  
     —% 
     2,071  
     100.0%
  
    Total gross profit 
    $25,813  
     100.0% 
    $24,852  
     100.0% 
    $961  
     3.9%

Gross profit
consists of sales less total cost of sales. Our total gross profit increased 3.9% to approximately
$25.8 million, or 31.2% of sales, for
the year ended December 31, 2024, from approximately $24.9 million,
or 32.7% of sales, for the year ended December 31, 2023.
Gross profit of our Stran segment decreased to approximately $23.7 million for the year ended December 31, 2024 from approximately
$24.9 million for the year ended December 31, 2023. Gross profit of our SLS segment increased to
approximately $2.1 million for the year ended December 31, 2024 from $0 for the year ended December 31, 2023. The
increase in the dollar amount of total gross profit was primarily due to the acquisition
of the Gander Group Assets in August 2024. For the Stran segment,