Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 81

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 81
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 thousands):

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

    2025  
    % of Total  
    2024  
    % of Total  
    $  
    % 

    Stran 
    $6,791  
     80.1% 
    $5,614  
     100.0% 
    $1,177  
     21.0%
  
    SLS 
     1,691  
     19.9% 
     —  
     —% 
     1,691  
     100.0%
  
    Total gross profit 
    $8,482  
     100.0% 
    $5,614  
     100.0% 
    $2,868  
     51.1%

28

Gross profit
consists of sales less total cost of sales. Our total gross profit increased 51.1% to approximately
$8.5 million, or 29.6% of sales, for
the three months ended March 31, 2025, from approximately $5.6 million,
or 29.8% of sales, for the three months ended March 31, 2024.
Gross profit of our Stran segment increased to approximately $6.8 million for the three months ended March 31, 2025 from approximately
$5.6 million for the three months ended March 31, 2024. Gross profit of our SLS segment increased
to approximately $1.7 million for the three months ended March 31, 2025 from $0 for the three months ended March 31, 2024. The
increase in the dollar amount of total gross profit was primarily due to the acquisition
of the Gander Group Assets in August 2024. For the Stran segment, the increase in the dollar
amount of gross profit was due to an increase in sales of approximately $2.1 million for the reasons described
above, which was partially offset by an increase of cost of sales of approximately $0.9 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.