Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 205

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 2
Chunk 205
---
     100.0% 
    $2,208  
     12.3%
  
    SLS 
     817  
     3.9% 
     —  
     —% 
     817  
     100.0%
  
    Total operating expenses 
    $20,993  
     100.0% 
    $17,968  
     100.0% 
    $3,025  
     16.8%

Operating
expenses consist of general and administrative expenses. Our operating expenses increased 16.8% to
approximately $21.0 million for the nine months ended September 30, 2024,
from approximately $18.0 million for the nine months ended September 30, 2023.
As a percentage of sales, operating expenses decreased to 37.7% for the nine months ended September 30, 2024,
from 33.9% for the nine months ended September 30, 2023. For the Stran segment, the increase
in the dollar amount of operating expenses was primarily due to expenses related to Stran’s Netsuite enterprise resource planning system
implementation, acquisition and integration of the Gander Group Assets, and legal and accounting expenses related to the re-audit of historical
financial statements. For the SLS segment, the increase was due to the acquisition of the Gander Group Assets in August 2024.

39

Other
Income

Other income
consists of other income (expense), interest income, and realized gain on investments. Our other expense was approximately $(6)
thousand for the nine months ended September 30, 2024,
compared to other income of approximately $219 thousand for the nine months ended September 30, 2023.
This change was primarily due to noncash accretion expense related to the installment payment liabilities. Our
interest income was approximately $239 thousand for the nine months ended September
30, 2024, compared to approximately $467 thousand for
the nine months ended September 30, 2023. This change was primarily due to a decrease in interest
generated from investments. Our realized gain on investments was approximately $176 thousand for the nine months ended September
30, 2024, compared to approximately $98 thousand for the nine months ended September 30,
2023. This change was primarily due to the recording of all investments at estimated fair value.

Income Tax Provision

Income tax provision reflects