Laird Superfood, Inc. ( (LSF) ) has released its Q4 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, reported its financial results for the fourth quarter and fiscal year 2024, showcasing significant growth and improved financial metrics.
Laird Superfood achieved record net sales of $43.3 million for fiscal year 2024, marking a 27% increase from the previous year. The company also reported a gross margin of 40.9% and a cash increase of $0.8 million, highlighting a successful year of growth and financial improvement.
Key financial highlights include a 26% year-over-year increase in fourth-quarter net sales to $11.6 million, driven by a 12% rise in e-commerce sales and a 52% increase in wholesale sales. Despite a slight contraction in gross margin for the quarter, the fiscal year saw a significant expansion in gross margin by 1,071 basis points. The company also reduced its net loss from $10.2 million in 2023 to $1.8 million in 2024, reflecting improved sales and cost management.
The company’s strategic focus on expanding distribution and improving operational efficiency has paid off, as evidenced by the positive cash flow from operating activities of $0.9 million, compared to a cash outflow of $10.8 million in the previous year. Laird Superfood’s management remains optimistic about continued growth, targeting a 20% to 25% increase in net sales for 2025, with plans to maintain gross margins in the upper 30s.
Looking ahead, Laird Superfood is poised for further expansion across its product lines and sales channels, with a focus on maintaining growth momentum and achieving break-even adjusted EBITDA in 2025. The company aims to continue capitalizing on consumer trends towards healthier, functional foods.
Trending Articles:
Questions or Comments about the article? Write to editor@tipranks.com