Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 681

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 2
Chunk 681
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 former Gander Group business) increased to
approximately $9.9 million for the year ended December 31, 2024 from $0 for the year ended December 31, 2023. For the Stran segment,
the decrease in sales was primarily due to lower spending from new and existing clients. For the SLS segment, the increase in sales was
due to the acquisition of the Gander Group Assets in August 2024.

Cost
of Sales

Cost of sales 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 
    $48,970  
     86.2% 
    $51,148  
     100.0% 
    $(2,178) 
     (4.3)%
  
    SLS 
     7,871  
     13.8% 
     —  
     —% 
     7,871  
     100.0%
  
    Total 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