Laird Superfood, Inc. LSF
When used in this Annual Report on Form 10-K, the terms "Laird Superfood," the "Company," "we," "our," and "us" refer to Laird Superfood, Inc. and its wholly owned subsidiary, Picky Bars, LLC, on a consolidated basis.
Laird Superfood develops and markets great-tasting, high-quality food and beverage products designed to support health, convenience, and everyday use. Our product portfolio emphasizes natural ingredients, nutrient density, and functional attributes, and includes offerings that incorporate adaptogens and other functional ingredients commonly associated with supporting stress management, energy, mental focus, and overall wellness. Our primary products include: (i) coffee creamers, (ii) coffee, tea, and hot chocolate products, (iii) hydration and beverage enhancing products, and (iv) snacks and other food items. Following the Navitas Acquisition, our products also include healthy baking products, wellness staples, and functional snacks. Over the long term, we seek to build a widely recognized superfood brand grounded in authenticity, functionality, and a commitment to supporting a healthy and sustainable future for consumers and the environment.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $49.9M | $43.3M | $34.2M | $35.8M | $36.8M | $25.8M | $13.1M | — |
| Cost of revenue | $31.0M | $25.6M | $23.9M | $30.6M | $27.4M | $19.2M | $8.0M | — |
| Gross profit | $18.9M | $17.7M | $10.3M | $5.2M | $9.4M | $6.6M | $5.1M | — |
| R&D | $329.8K | $114.1K | $219.7K | $427.5K | $1.0M | $508.2K | $324.3K | — |
| SG&A | $10.2M | $9.3M | $9.8M | $30.6M | $16.5M | $8.8M | $5.2M | — |
| Total operating expenses | $22.3M | $19.9M | $21.0M | $45.6M | $33.4M | $19.5M | $13.8M | — |
| Operating income | -$3.4M | -$2.2M | -$10.7M | -$40.4M | -$24.0M | -$12.9M | -$8.8M | — |
| Interest expense | — | — | — | — | — | $0 | $48.8K | — |
| Pre-tax income | -$3.2M | -$1.8M | -$10.1M | -$40.3M | -$23.9M | -$12.9M | -$8.5M | — |
| Income tax | $20.7K | $60.3K | $15.2K | $20.3K | $17.8K | $0 | — | — |
| Net income | -$3.3M | -$1.8M | -$10.2M | -$40.3M | -$23.9M | -$12.9M | -$8.5M | — |
| EPS, basic | -0.31 | -0.18 | -1.09 | -4.41 | -2.66 | -2.61 | -0.29 | — |
| EPS, diluted | — | — | -1.09 | -4.41 | -2.66 | -2.61 | -0.29 | — |
| Shares, diluted (wtd. avg.) | 10.6M | 9.9M | 9.3M | 9.1M | 9.0M | 5.5M | 3.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.1M | $8.3M | $7.6M | $17.3M | $22.9M | $57.2M | $1.0M | $17.3M |
| Short-term investments | — | — | — | $0 | $8.6M | $8.7M | $5.5M | — |
| Receivables | $3.9M | $1.8M | $1.0M | $1.5M | $1.3M | $839.7K | $384.8K | — |
| Inventory | $7.8M | $6.0M | $6.3M | $5.7M | $10.2M | $6.3M | $2.4M | — |
| Total current assets | $18.8M | $18.0M | $16.3M | $27.5M | $47.7M | $76.0M | $10.0M | — |
| Property, plant and equipment | $41.2K | $58.4K | $122.6K | $150.3K | $4.5M | $3.5M | $3.2M | — |
| Goodwill | — | — | $0 | $0 | $6.5M | $0 | — | — |
| Other intangibles | $207.1K | $1.0M | $1.2M | $1.4M | $4.8M | $137.1K | — | — |
| Total assets | $19.2M | $19.3M | $18.0M | $30.0M | $65.8M | $82.3M | $16.4M | — |
| Accounts payable | $4.5M | $3.6M | $2.6M | $1.1M | $888.8K | $1.3M | $724.8K | — |
| Total current liabilities | $7.7M | $5.9M | $4.4M | $7.5M | $3.8M | $2.7M | $1.5M | — |
| Long-term debt | — | — | — | — | — | $51.0K | — | — |
| Total liabilities | $7.8M | $6.1M | $4.6M | $7.5M | $3.8M | $2.8M | $1.6M | — |
| Retained earnings | -$111.4M | -$108.1M | -$106.3M | -$96.1M | -$55.8M | -$31.9M | -$19.1M | — |
| Total equity | $11.5M | $13.2M | $13.4M | $22.5M | $62.1M | $79.5M | $8.1M | -$269.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2.8M | $865.5K | -$10.8M | -$14.3M | -$22.1M | -$14.7M | -$9.4M | — |
| Depreciation and amortisation | $253.7K | $270.3K | $306.2K | $1.1M | $596.5K | $474.6K | $300.6K | — |
| Stock-based compensation | $1.9M | $1.6M | $1.1M | $631.2K | — | — | — | — |
| Capital expenditure | $76.5K | $24.8K | $144.0K | $1.2M | $1.6M | $1.1M | $2.4M | — |
| Investing cash flow | -$76.5K | -$24.8K | $690.3K | $9.0M | -$12.6M | -$4.3M | -$7.9M | — |
| Financing cash flow | -$331.7K | -$33.4K | -$27.4K | $102.3K | $576.2K | $75.2M | $1.0M | — |
| Buybacks | — | — | — | — | $0 | $20.5K | $1.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-018290.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $13.1M | $25.8M | $36.8M | $35.8M | $34.2M | $43.3M | $49.9M |
| Gross profit | — | $5.1M | $6.6M | $9.4M | $5.2M | $10.3M | $17.7M | $18.9M |
| Net income | — | -$8.5M | -$12.9M | -$23.9M | -$40.3M | -$10.2M | -$1.8M | -$3.3M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Item 5.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Item 5.02
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Results announced Item 2.02
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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