Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 37

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 not be read to indicate that we have conducted an exhaustive inquiry into, or
review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not
to unduly rely upon these statements.

The forward-looking statements made in this report
relate only to events or information as of the date on which the statements are made in this report. Except as expressly required by
the federal securities laws, there is no undertaking to publicly update or revise any forward-looking statements, whether as a result
of new information, future events, changed circumstances or any other reason.

27

Overview

We are an outsourced marketing solutions provider
that sells branded products to customers. We purchase products and branding through various third-party manufacturers and decorators
and resell the finished goods to customers.

In addition to selling branded products, we offer
clients custom sourcing capabilities; a flexible and customizable e-commerce solution for promoting branded merchandise and other promotional
products, managing promotional loyalty and incentives, print collateral, and event assets, order and inventory management, and designing
and hosting online retail popup shops, fixed public retail online stores, and online business-to-business service offerings; creative
and merchandising services; warehousing/fulfillment and distribution; print-on-demand; kitting; point of sale displays; and loyalty and
incentive programs.

We earn the majority of our revenue from the
sale of unique, quality promotional products for a wide variety of industries primarily to support marketing efforts. We also derive
revenues from service fees from loyalty programs, event management, print services, fulfillment services, and technology services.

The majority of our
revenue is derived from program business, although only a small percentage of our customers are considered programmatic. For the three
months ended March 31, 2024 and 2023, program clients accounted for 86.0% and 81.7% of total revenue, respectively. Fewer than 350 of
our more than 2,000 active customers are considered to be program clients. Our active customers are any organizations, businesses,
or divisions of a parent organization which have purchased directly or indirectly from us within the last two years, and include organizations
that have bought from other organizations for which Stran acts as an established sub-contractor. We define transactional customers as
customers that place an order with us and do not have an agreement with us covering ongoing branding requirements. We define program
clients as clients that have a contractual obligation for specific ongoing branding needs.