Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 510

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1B
Chunk 510
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0, respectively.
The entire goodwill balance of $2,321 as of December 31, 2024 was allocated to the SLS segment. No goodwill was recorded as of December
31, 2023 for either segment.

Revenue and costs are directly attributed
to our segments, and the revenues recognized as well as the costs incurred in generating those revenues within each segment are distinguishable
based on the information systems in which each segment’s financial information gets recorded. There are no intersegment revenues
or other transactions between the two segments that are eliminated in consolidation by the Company for external reporting.

The table below presents information
about reported segments for the year ended December 31, 2024 and 2023

    December 31, 2024  
    December 31, 2023 

    Stran  
    SLS  
    Total  
    Stran  
    SLS  
    Total 
  
    Sales 
    $72,712  
    $9,942  
    $82,654  
    $76,000  
    $—  
    $76,000 
  
    Gross profit 
     23,742  
     2,071  
     25,813  
     24,852  
     —  
     24,852 
  
    Operating loss 
    $(3,844) 
    $(1,050) 
    $(4,894) 
    $(1,268) 
    $—  
    $(1,268)

The segment SLS was not a part of the
Company until the segment was acquired and all of its business operations were incorporated within the Company’s newly created subsidiary
in August 2024. The Stran segment’s operations have remained consistent for all periods presented, however, the Company only had
one operating and reportable segment prior to the acquisition. Significant segment expenses for the Stran segment during the year ended
December 31, 2023 are consistent with those presented on the consolidated statements of operations.

A reconciliation of total segment revenues
to total consolidated revenues and of total segment gross margin and segment operating income (loss) which aggregates to total consolidated
income (loss) from operations, for the year ended December 31, 2024, is as follows:

    For the Year ended December 31, 2024 

    Stran  
    SLS  
    Total 
  
    Sales from external customers