Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 541

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1C
Chunk 541
---
 amount of gross profit was
due to the acquisition of the Gander Group Assets in August 2024. The decrease in total gross profit
margin to 31.2% for the year ended December 31, 2024 compared to 32.7% for the year ended December 31, 2023 was primarily due to
the acquisition of the Gander Group Assets in August 2024, which operates at a lower gross margin than the Stran segment. The
gross profit margin for the Stran segment remained unchanged at 32.7% for the years ended December 31, 2024 and 2023. The
gross profit margin for the SLS segment was 20.8% for the year ended December 31, 2024.

46

Operating
Expenses

Operating expenses 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 
    $27,587  
     89.8% 
    $26,120  
     100.0% 
    $1,467  
     5.6%
  
    SLS 
     3,120  
     10.2% 
     —  
     —% 
     3,120  
     100.0%
  
    Total operating expenses 
    $30,707  
     100.0% 
    $26,120  
     100.0% 
    $4,587  
     17.6%

Operating
expenses consist of general and administrative expenses. Our total operating expenses increased 17.6% to
approximately $30.7 million for the year ended December 31, 2024,
from approximately $26.1 million for the year ended December 31, 2023.
Operating expenses of our Stran segment increased to approximately $27.6 million for the year ended December 31, 2024 from approximately
$26.1 million for the year ended December 31, 2023. Operating expenses of our SLS segment increased
to approximately $3.1 million for the year ended December 31, 2024