Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 277

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 277
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9 million for the reasons described above. For
the SLS segment, the increase in the dollar 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 29.6%
for the three months ended March 31, 2025 from 29.8% for the three months ended March 31, 2024 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 increased to 32.4% for the three months ended March 31, 2025 from 29.8% for the three
months ended March 31, 2024. The gross profit margin for the SLS segment was 21.8% for the
three months ended March 31, 2025.

Operating
Expenses

Operating expenses by segment and in total were
as follows (in thousands):

    Three Months  Ended March 31,  
       
    Three Months  Ended March 31,  
       
    Increase / (Decrease) 

    2025  
    % of Total  
    2024  
    % of Total  
    $  
    % 

    Stran 
    $6,864  
     76.1% 
    $6,279  
     100.0% 
    $585  
     9.3%
  
    SLS 
     2,153  
     23.9% 
     —  
     —% 
     2,153  
     100.0%
  
    Total operating expenses 
    $9,017  
     100.0% 
    $6,279  
     100.0% 
    $2,738  
     43.6%

Operating expenses consist of general
and administrative expenses. Our total operating expenses increased 43.6% to approximately $9.0 million for the three months ended March
31, 2025, from approximately $6.3 million for the three months ended March 31, 2024. Operating expenses of our Stran segment increased
to approximately $6.9 million for the three months ended March 31, 2025 from approximately $6.3 million