Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 257

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 257
---
 31,  2025  
    March 31,  2024 
  
    Promotional products - dropshipping 
    $9,185  
    $8,412 
  
    Promotional products – bulk dropshipping 
     6,331  
     5,765 
  
    Promotional products – Company owned inventory 
     2,894  
     2,599 
  
    Casino continuity program 
     7,368  
     — 
  
    Promotional products – third-party distributor 
     2,595  
     1,674 
  
    Rewards program 
     226  
     285 
  
    Additional services 
     95  
     92 

    $28,694  
    $18,827 

17

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

Unearned revenue includes customer
deposits and deferred revenue which represent prepayments from customers. The Company had unearned revenue as follows:

    March 31,  2025  
    March 31,  2024 
  
    Balance at January 1, 
    $4,423  
    $1,116 
  
    Revenue recognized 
     (1,098) 
     (1,014)
  
    Amounts collected or invoiced 
     3,085  
     490 
  
    Unearned revenue 
    $6,410  
    $592 

K.COMMITMENTS AND CONTINGENCIES:

Legal Proceedings

The Company may from time to time become
involved in various legal actions incidental to our business. As of the date of this report, the Company is not involved in any legal
proceedings that it believes could have a material adverse effect on its financial position or results of operations. However, the outcome
of any current or future legal proceeding is inherently difficult to predict and any dispute resolved unfavorably could have a material
adverse effect on the Company’s business, financial position, and operating results.

Lease Agreements - Operating
Leases

On May 31, 2020, the Company renewed
a lease for a 10,500 square foot office space in Quincy, MA. The lease renewed on June 1, 2020 and is for a term of 60