Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 326

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 326
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for the three months ended June 30, 2023. As a percentage of sales, cost of sales decreased
to 67.2% for the three months ended June 30, 2024 from 69.9% for the three months
ended June 30, 2023. The decrease in the dollar amount of cost of sales was primarily due
to improvement in purchasing from suppliers along with a decrease in sales of 4.1% from period to period.

Gross
Profit

Gross profit
consists of sales less total costs of sales. Our gross profit increased 4.2% to approximately
$5.5 million, or 32.8% of sales, for
the three months ended June 30, 2024, from approximately $5.2 million,
or 30.1% of sales, for the three months ended June 30, 2023.
The increase in the dollar amount of gross profit was due to a decrease in cost of sales of approximately $0.9 million
for the reasons described above, which was offset by a decrease in sales of approximately $0.7 million
in aggregate for the reasons described above. The increase in gross profit margin to 32.8% for the three months ended June
30, 2024 compared to 30.1% for the three months ended June 30, 2023 was primarily due to improvements in purchasing from suppliers.

Operating
Expenses

Operating
expenses consist of general and administrative expenses. Our operating expenses increased 5.3% to
approximately $6.6 million for the three months ended June 30, 2024,
from approximately $6.2 million for the three months ended June 30, 2023.
As a percentage of sales, operating expenses increased to 39.4% for the three months ended June 30, 2024,
from 35.9% for the three months ended June 30, 2023. The increase in the dollar amount
of operating expenses was primarily due to an increase in aggregate expenses related to the organic growth in our business.

Other
Income

Other income
consists of other income, interest income, and realized gain on investments. Our other income was approximately $1 thousand
for the three months ended June 30, 2024, compared to approximately $17 for the three
months ended June 30, 2023. This change was primarily due to noncash acc