Exceptional Top-Line Growth
Laird Superfood achieved a remarkable 27% top-line growth for the full year 2024, with net sales reaching $43.3 million, up from $34.2 million in 2023. Q4 net sales grew 26% over Q4 2023, significantly outpacing industry averages.
Strong Gross Margin Improvement
The company maintained gross margins at nearly 41% for the full year, a roughly 11-point increase from 2023. This was driven by strategic sourcing and operational efficiencies.
E-commerce Channel Growth
E-commerce channel grew by 32% year-over-year, particularly on Amazon, which delivered its strongest quarter ever, contributing to more than 40% of the e-commerce channel.
Expanded Wholesale Distribution
Wholesale net sales grew 19% year-over-year, contributing 41% of total company revenue. New distribution was secured with major retailers like Kroger and Safeway Albertsons.
Positive Cash Flow and Financial Position
Laird Superfood reported positive quarterly cash flow for the third consecutive quarter, with $312,000 in Q4 and a total of $807,000 for the year. The company ended the quarter with $8.5 million in cash and no debt.