Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 30

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 December 31, 2023 
    $1,425 
  
    Additions pursuant to acquisitions 
     — 
  
    Interest accretion 
     72 
  
    Payments made 
     (760)
  
    Balance as of June 30, 2024 
    $737 

    Current portion of installment payment liabilities 
    $398 
  
    Long-term installment payment liabilities 
    $339 

21

STRAN & COMPANY, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

J.REVENUE:

Revenue disaggregated according to the timing of transfer
of goods or services (e.g., at a point in time) was as follows:

    Three months ended 
June 30,  
    Six months ended
 June 30, 
  
    Revenue generated per major product category 
    2024  
    2023  
    2024  
    2023 

    (Restated)  
       
    (Restated) 
  
    Promotional products - dropshipping 
    $8,128  
    $6,959  
    $16,538  
    $13,082 
  
    Promotional products – Company owned inventory 
     3,605  
     4,258  
     6,204  
     8,945 
  
    Promotional products – bulk dropshipping 
     3,123  
     4,354  
     8,889  
     7,221 
  
    Promotional products – third-party distributor 
     1,402  
     1,537  
     3,076  
     3,467 
  
    Rewards program 
     254  
     197  
     540  
     486 
  
    Additional services 
     181  
     110  
     273  
     185 

    $16,693  
    $17,415  
    $35,520  
    $33,386 

Unearned revenue includes customer
deposits and deferred revenue which represent prepayments from customers. The Company had unearned revenue as follows:

    June 30,
 2024  
    June 30,
 2023 

    (Restated) 
  
    Balance at January