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- **Revenue Growth**: 56.7% YoY to $87.3M, driven by Stran segment expansion and Gander Group integration.
- **Profitability**: Operating expenses as % of sales down to 31.3%, targeting 29%+ margin expansion.
- **Q4 Outlook**: Holiday-driven 29%+ sequential growth, 70%+ clients absorbing tariff costs.
- **Acquisition Strategy**: 25,000+ distributor network access, $11.8M cash for M&A, buybacks.
- **Resilience**: 70%+ clients agreed to pass-through tariffs, 25,000+ distributor network for M&A pipeline.
- **Liquidity**: $11.8M cash for strategic initiatives, 2025 acquisitions focus.

**【CEO Opening Remarks】**
- Q3 2025 revenue grew 56.7% year-over-year to $87.3M, driven by Stran segment expansion and Gander Group acquisition.
- Operating expenses as % of sales declined to 31.3% (from 37.7% in 2024), reflecting operational efficiency improvements.
- Q4 expected to be strongest quarter due to holiday-driven demand and disciplined expense management.

**【CFO Financial Commentary】**
- Gross profit margin 29.1% for 9M 2025, supported by $25.4M gross profit (29.1% of sales).
- Operating expenses increased 30.3% to $27.3M, with 80%+ clients on multi-year contracts ensuring stability.
- $11.8M cash and investments provide liquidity for acquisitions and buybacks.

**【Q&A Highlights】**
- Tariffs added $1M+ direct costs, with 70%+ clients agreeing to pass-through cost increases.
- Economic contraction strategy includes: 
  - 25,000+ distributor network access for M&A
  - Beverage/loyalty programs resilient to macroeconomic trends
  - $120M+ TTM revenue vs. IPO goals
- 2025 acquisitions focus on 25-30k+ distributor M&A pipeline.

Stran & Company, Inc. (SWAG) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

SWAG

SWAG fundamentals

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