Company: SWAGW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074995
Chunk: 106

Company: Stran & Company, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 106
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%

    Provision for income taxes 
     76  
     —% 
     3  
     —%

    NET INCOME (LOSS) 
    $250  
     0.4% 
    $(1,516) 
     (4.3)%

Sales

Sales consist primarily of the selling price of
the merchandise, service or outbound shipping and handling charges, less discounts, coupons redeemed, returns and credits. Sales by segment
and in total were as follows (in thousands):

    Six Months 
Ended
June 30,   
       
    Six Months 
Ended
June 30,   
       
    Increase / (Decrease) 

    2025  
    % of Total  
    2024  
    % of Total  
    $  
    % 
  
    Stran 
    $42,700  
     69.7% 
    $35,520  
     100.0% 
    $7,180  
     20.2%
  
    SLS 
     18,571  
     30.3% 
     —  
     —% 
     18,571  
     100.0%
  
    Total sales 
    $61,271  
     100.0% 
    $35,520  
     100.0% 
    $25,751  
     72.5%

32

Our total
sales increased 72.5% to approximately $61.3 million
for the six months ended June 30, 2025, from approximately $35.5 million
for the six months ended June 30, 2024. Sales by our Stran segment increased to
approximately $42.7 million for the six months ended June 30, 2025 from approximately $35.5 million for the six months ended June
30, 2024. Sales by our SLS segment (which consists of the former Gander Group business) increased to approximately $18.6 million for the
six months ended June 30, 2025 from $0 for the six months ended June 30, 2024. For the Stran segment, the increase in sales was primarily
due to higher spending from existing clients as well as business from new customers. For the SLS segment, the increase in sales was due
to the acquisition of the