Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 53

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part II, Item 8
Chunk 53
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.0%
  
    Total cost of sales 
    $38,632  
     100.0% 
    $36,004  
     100.0% 
    $2,628  
     7.3%

Our total
cost of sales increased 7.3% to approximately $38.6 million
for the nine months ended September 30, 2024, from approximately $36.0 million
for the nine months ended September 30, 2023. As a percentage of sales, cost of sales decreased
to 69.4% for the nine months ended September 30, 2024 from 67.9% for the nine months
ended September 30, 2023. The increase in the dollar amount of cost of sales was primarily
due to an increase in sales of 4.9% from period to period. For the Stran segment, the decrease was primarily due to
a decrease in sales of approximately $0.9 million for the reasons described above. For the SLS segment, the increase was due to
the acquisition of the Gander Group Assets in August 2024.

Gross
Profit

Gross profit and gross margin percentages by segment
and in total were as follows:

    Nine Months Ended
September 30,  
       
    Nine Months Ended
September 30,  
       
    Increase / (Decrease) 

    2024  
    % of Total  
    2023  
    % of Total  
    $  
    % 

    Stran 
    $16,374  
     96.1% 
    $17,056  
     100.0% 
    $(682) 
     (4.0)%
  
    SLS 
     658  
     3.9% 
     —  
     —% 
     658  
     100.0%
  
    Total gross profit 
    $17,032  
     100.0% 
    $17,056  
     100.0% 
    $(24) 
     (0.1)%

Gross profit
consists of sales less total costs of sales. Our gross profit decreased 0.1% to approximately
$17.0 million, or 30.6% of sales, for
the nine months ended September 30,