Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1
Chunk 1
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3%, and between 2018 and 2024, our revenues grew at a compound annual growth rate of approximately 22.8%.

As of December 31, 2024,
we had total assets of approximately $55.1 million with total stockholders’ equity of $31.6 million.

We serve a highly diversified
customer base across many industry verticals including pharmaceutical and healthcare, manufacturing, gaming, technology, finance, construction
and consumer goods. Many of our customers are household names and include some of the largest corporations in the world.

Our sales increased 8.8% year-over-year in 2024
compared to 2023, which we believe was primarily due to higher spending from existing clients
as well as business from new customers. Additionally, we benefited from the acquisition of the assets
of T R Miller Co., Inc., a Massachusetts corporation (“T R Miller”),
in June 2023, and from the acquisition of substantially all of the assets (the “Gander
Group Assets”) of Bangarang Enterprises, LLC, a California limited liability
company (d/b/a Gander Group) (“Gander Group”), in August 2024.

Our headquarters are located
at Quincy, Massachusetts, with additional offices located in Warsaw, Indiana; Mt. Pleasant, South Carolina; Walpole, Massachusetts; Tomball,
Texas; and Irvine, California. We also have sales representatives in 22 additional locations across the United States and a network of
service providers in the U.S. and abroad, including factories, decorators, printers, logistics firms, and warehouses.

1

Our Industry

Overview of Promotional Products Market

The promotional products industry is large yet
highly-fragmented, with thousands of smaller participants and indications of a lack of market power in any one firm or group of firms.
The industry has generally experienced growth as businesses continuously invest in sophisticated marketing campaigns involving multiple
types of advertising. Promotional products are items used to promote a product, service or company program including advertising specialties,
premiums, incentives, business gifts, awards, prizes, commemoratives and other imprinted or decorated items. They are usually given away
by companies to consumers or employees. The largest promotional products trade organizations are the Advertising Specialty Institute (ASI)
and Promotional Products Association International (PPAI).

U.S. Promotional Products is a Large and
Growing Market

According to ASI, the market for promotional products
sales reached a record high of $26.6 billion in 2024