Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1106

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 5
Chunk 1106
---
% 
     2,071  
     100.0%
  
    Total gross profit 
    $25,813  
     100.0% 
    $24,852  
     100.0% 
    $961  
     3.9%

Gross profit
consists of sales less total cost of sales. Our total gross profit increased 3.9% to approximately
$25.8 million, or 31.2% of sales, for
the year ended December 31, 2024, from approximately $24.9 million,
or 32.7% of sales, for the year ended December 31, 2023.
Gross profit of our Stran segment decreased to approximately $23.7 million for the year ended December 31, 2024 from approximately
$24.9 million for the year ended December 31, 2023. Gross profit of our SLS segment increased to
approximately $2.1 million for the year ended December 31, 2024 from $0 for the year ended December 31, 2023. The
increase in the dollar amount of total gross profit was primarily due to the acquisition
of the Gander Group Assets in August 2024. For the Stran segment, the decrease in the dollar amount of gross profit was due to a decrease
in sales of approximately $3.3 million for the reasons described above, which was partially
offset by a decrease in cost of sales of approximately $2.2 million for the reasons described
above. For the SLS segment, the increase in the dollar amount of gross profit was
due to the acquisition of the Gander Group Assets in August 2024. The decrease in total gross profit
margin to 31.2% for the year ended December 31, 2024 compared to 32.7% for the year ended December 31, 2023 was primarily due to
the acquisition of the Gander Group Assets in August 2024, which operates at a lower gross margin than the Stran segment. The
gross profit margin for the Stran segment remained unchanged at 32.7% for the years ended December 31, 2024 and 2023. The
gross profit margin for the SLS segment was 20.8% for the year ended December 31, 2024.

46

Operating
Expenses

Operating expenses by segment and in total were