Laird Superfood, Inc. ( (LSF) ) has released its Q3 earnings. Here is a breakdown of the information Laird Superfood, Inc. presented to its investors.
Laird Superfood, Inc., a company specializing in plant-based superfood products, operates in the food and beverage sector with a focus on health-conscious offerings. In its third quarter of 2024, Laird Superfood reported strong financial results, highlighting a 28% increase in net sales to $11.8 million and a notable gross margin of 43%. The company also achieved a $0.4 million increase in cash, demonstrating financial resilience. Key financial metrics for the quarter included a 42% rise in e-commerce sales, which now account for 58% of total net sales. Sales on Amazon surged by 133%, and direct-to-consumer platform sales grew by 10%. Wholesale sales increased by 13%, contributing 42% to total net sales. The company’s gross margin improved significantly to 43%, driven by cost-saving measures and strategic procurement. Despite a net loss of $0.2 million, Laird Superfood showed a marked improvement from the previous year’s $2.7 million loss, attributed to expanded gross margins and reduced marketing and administrative expenses. Looking ahead, Laird Superfood anticipates continued growth, projecting net sales between $43 to $44 million for 2024, reflecting a 26% to 29% increase. The company aims to maintain positive cash flow and adjusted EBITDA, utilizing margin improvements to fuel future growth strategies.
