Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 147

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 1
Chunk 147
---
    SLS 
     658  
     11.1% 
     —  
     —% 
     658  
     100.0%
  
    Total gross profit 
    $5,952  
     100.0% 
    $6,399  
     100.0% 
    $(447) 
     (7.0)%

Gross profit
consists of sales less total costs of sales. Our gross profit decreased 7.0% to approximately
$6.0 million, or 29.5% of sales, for
the three months ended September 30, 2024, from approximately $6.4 million,
or 32.5% of sales, for the three 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 $3.0 million
for the reasons described above, which was partially offset by a decrease in cost of sales of approximately $1.9 million for the reasons
described above. The decrease in gross profit margin for the Stran segment to 31.8% for the three months ended September 30, 2024 compared
to 32.5% for the three 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.

36

Operating
Expenses

Operating expenses by segment and in total were
as follows:

    Three Months Ended
    September 30,  
       
    Three Months Ended
    September 30,  
       
    Increase / (Decrease) 

    2024  
    % of Total  
    2023  
    % of Total  
    $  
    % 

    Stran 
    $7,319  
     90.0% 
    $5,732  
     100.0% 
    $1,587  
     27.7%
  
    SLS 
     817  
     10.0% 
     —  
     —% 
     817  
     100.0%
  
    Total operating expenses 
    $8,136  
     100.0