Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 204

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 2
Chunk 204
---
ase) 

    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, 2024, from approximately $17.1 million,
or 32.1% of sales, for the nine months ended September 30, 2023.

For the
Stran segment, the decrease in the dollar amount of gross profit was due to a decrease in sales of approximately $0.9 million
for the reasons described above, which was partially offset by a decrease in cost of sales of approximately $0.2 million
for the reasons described above. The decrease in gross profit margin for the Stran segment to 31.4% for the nine months ended September
30, 2024 compared to 32.1% for the nine months ended September 30, 2023 was primarily due to increases in product costs from vendors.
For the SLS segment, the increase in the dollar amount was due to the acquisition of the Gander Group Assets in August 2024.

Operating
Expenses

Operating expenses 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 
    $20,176  
     96.1% 
    $17,968