Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1385

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 7
Chunk 1385
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 cost of sales 
    $56,841  
     100.0% 
    $51,148  
     100.0% 
    $5,693  
     11.1%

Our total
cost of sales increased 11.1% to approximately $56.8 million
for the year ended December 31, 2024, from approximately $51.1 million
for the year ended December 31, 2023. As a percentage of sales, total cost of sales increased
to 68.8% for the year ended December 31, 2024 from 67.3% for the year ended December
31, 2023. Cost of sales by our Stran segment decreased to approximately $49.0 million for
the year ended December 31, 2024 from approximately $51.1 million for the year ended December 31, 2023. Cost of sales
by our SLS segment increased to approximately $7.9 million for the year ended December 31, 2024 from $0 for the year ended December
31, 2023. The increase in the dollar amount of total cost of sales was primarily due to the increase in sales of 8.8% from period to period.
For the Stran segment, the decrease was primarily due to a decrease in sales of approximately $3.3
million for the reasons described above. For the SLS segment, the increase was due to the
acquisition of the Gander Group Assets in August 2024.

Gross
Profit

Gross profit and gross margin percentages by segment
and in total were as follows (in thousands):

    Year Ended  
       
    Year Ended  
       
    Increase / (Decrease) 

      12/31/2024  
    % of Total  
      12/31/2023  
    % of Total  
    $  
    % 

    Stran 
    $23,742  
     92.0% 
    $24,852  
     100.0% 
    $(1,110) 
     (4.5)%
  
    SLS 
     2,071  
     8.0% 
     —  
     —% 
     2,071  
     100.0%
  
    Total gross profit 
    $25,813