Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 203

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 2
Chunk 203
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 segment, the decrease was primarily due to lower
spending from new and existing clients. For the SLS segment, the increase was due to the acquisition of the Gander Group Assets in August
2024.

38

Cost
of Sales

Cost of sales by segment and in total were as
follows:

    Nine Months Ended
September 30,  
       
    Nine Months Ended
September 30,  
       
    Increase / (Decrease) 

    2024  
    % of Total  
    2023  
    % of Total  
    $  
    % 

    Stran 
    $35,802  
     92.7% 
    $36,004  
     100.0% 
    $(202) 
     (0.6)%
  
    SLS 
     2,830  
     7.3% 
     —  
     —% 
     2,830  
     100.0%
  
    Total cost of sales 
    $38,632  
     100.0% 
    $36,004  
     100.0% 
    $2,628  
     7.3%

Our total
cost of sales increased 7.3% to approximately $38.6 million
for the nine months ended September 30, 2024, from approximately $36.0 million
for the nine months ended September 30, 2023. As a percentage of sales, cost of sales decreased
to 69.4% for the nine months ended September 30, 2024 from 67.9% for the nine months
ended September 30, 2023. The increase in the dollar amount of cost of sales was primarily
due to an increase in sales of 4.9% from period to period. For the Stran segment, the decrease was primarily due to
a decrease in sales of approximately $0.9 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:

    Nine Months Ended
September 30,  
       
    Nine Months Ended
September 30,  
       
    Increase / (Decre