Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 329

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 329
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 TAXES 
     (1,513) 
     (4.3)% 
     (1,257) 
     (3.8)%

    Provision for income taxes 
     3  
     —% 
     151  
     0.5%

    NET LOSS 
    $(1,516) 
     (4.3)% 
    $(1,408) 
     (4.2)%

Sales

Sales consist
primarily of the selling price of the merchandise, service or outbound shipping and handling charges, less discounts, coupons redeemed,
returns and credits.

Our sales
increased 6.4% to approximately $35.5 million
for the six months ended June 30, 2024, from approximately $33.4 million
for the six months ended June 30, 2023. The increase was primarily due to higher spending
from existing clients as well as business from new customers.

34

Cost
of Sales

Our total
cost of sales increased 7.5% to approximately $24.4 million
for the six months ended June 30, 2024, from approximately $22.7 million
for the six months ended June 30, 2023. As a percentage of sales, cost of sales decreased
to 68.8% for the six months ended June 30, 2024 from 68.1% for the six months ended
June 30, 2023. The increase in the dollar amount of cost of sales was primarily due to an
increase in sales of 6.4% from period to period.

Gross
Profit

Gross profit
consists of sales less total costs of sales. Our gross profit increased 4.0% to approximately
$11.1 million, or 31.2% of sales, for
the six months ended June 30, 2024, from approximately $10.7 million,
or 31.9% of sales, for the six months ended June 30, 2023.
The increase in the dollar amount of gross profit was due to an increase in sales of approximately $2.1 million
for the reasons described above, partially offset by an increase in cost of sales of approximately $1.7 million
in aggregate for the reasons described above. The decrease in gross profit margin to 31.2% for the six months ended June 30,
2024 compared to