A Business at a Glance
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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 creates clean, functional, and sustainability-conscious products, many of which incorporate adaptogens, which may be beneficial in reducing stress, improving energy levels, enhancing mental performance, mood regulation, and immune system support. Our primary products include: (i) coffee creamers, (ii) hydration and beverage enhancing products, (iii) harvest snacks and other food items, and (iv) coffee, tea, and hot chocolate products. Laird Superfood’s long-term goal is to build the first scale-level and widely recognized brand that authentically focuses on natural ingredients, nutritional density, and functionality.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 48M | 43M | 34M | 36M | 37M | 26M |
| Net Income | -1.9M | -1.8M | -10M | -40M | -24M | -15M |
| EPS | $-0.18 | $-0.18 | $-0.99 | $-4.41 | $-2.66 | $-2.61 |
| Free Cash Flow | 0 | 841K | -11M | -15M | -24M | -16M |
| ROIC | -21.9% | -13.8% | -75.8% | -141.7% | -38.5% | - |
| Gross Margin | 39.1% | 40.9% | 30.1% | 14.5% | 25.6% | 25.5% |
| Debt/Equity | 0.00 | 0.46 | 0.34 | 0.33 | 0.06 | - |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -2.1M | -2.2M | -11M | -40M | -24M | -13M |
| Operating Margin | -4.3% | -5.0% | -31.3% | -112.7% | -65.1% | -50.1% |
| ROE | -14.8% | -13.7% | -75.8% | -179.2% | -38.5% | - |
| Shares Outstanding | 11M | 10M | 10M | 9M | 9M | 6M |
| Metric | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 26M | 37M | 36M | 34M | 43M | 48M |
| Gross Margin | 25.5% | 25.6% | 14.5% | 30.1% | 40.9% | 39.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -13M | -24M | -40M | -11M | -2.2M | -2.1M |
| Op. Margin | -50.1% | -65.1% | -112.7% | -31.3% | -5.0% | -4.3% |
| Net Income | -15M | -24M | -40M | -10M | -1.8M | -1.9M |
| Net Margin | -56.2% | -64.8% | -112.6% | -29.7% | -4.2% | -3.9% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | N/A | -38.5% | -141.7% | -75.8% | -13.8% | -21.9% |
| ROE | N/A | -38.5% | -179.2% | -75.8% | -13.7% | -14.8% |
| ROA | -17.6% | -36.3% | -134.3% | -56.4% | -9.8% | -10.0% |
| Cash Flow | ||||||
| Op. Cash Flow | -15M | -22M | -14M | -11M | 866K | -2.5M |
| Free Cash Flow | -16M | -24M | -15M | -11M | 841K | 0 |
| Owner Earnings | -15M | -23M | -16M | -12M | -1.0M | -4.4M |
| CapEx | 1.1M | 1.6M | 1.2M | 144K | 25K | 0 |
| Maint. CapEx | 475K | 982K | 1.1M | 306K | 270K | 270K |
| Growth CapEx | 585K | 574K | 36K | 0 | 0 | 0 |
| D&A | 475K | 982K | 1.1M | 306K | 270K | 270K |
| CapEx/OCF | N/A | N/A | N/A | N/A | 2.9% | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 21K | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 0 | N/A | 631K | 1.1M | 1.6M | 1.6M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | -57M | N/A | N/A | N/A | N/A | -5.3M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 5.3M |
| Long-Term Debt | 51K | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | N/A | 0.06 | 0.33 | 0.34 | 0.46 | 0.00 |
| Interest Coverage | N/A | N/A | -4841.0 | -764.5 | -135.6 | -135.6 |
| Equity | N/A | 62M | 23M | 13M | 13M | 13M |
| Total Assets | 82M | 66M | 30M | 18M | 19M | 19M |
| Total Liabilities | N/A | 3.8M | 7.5M | 4.6M | 6.1M | 6.0M |
| Intangibles | 137K | 11M | 132K | 132K | 132K | 132K |
| Retained Earnings | -32M | -56M | -96M | -106M | -108M | -108M |
| Working Capital | 73M | 44M | 20M | 12M | 12M | 12M |
| Current Assets | 76M | 48M | 28M | 16M | 18M | 18M |
| Current Liabilities | 2.7M | 3.8M | 7.5M | 4.4M | 5.9M | 5.9M |
| Per Share Data | ||||||
| EPS | -2.61 | -2.66 | -4.41 | -0.99 | -0.18 | -0.18 |
| Owner EPS | -2.73 | -2.57 | -1.76 | -1.18 | -0.10 | -0.41 |
| Book Value | N/A | 6.91 | 2.46 | 1.30 | 1.28 | 1.20 |
| Cash Flow/Share | -2.64 | -2.46 | -1.56 | -1.05 | 0.08 | -0.15 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 5.6M | 9.0M | 9.1M | 10.3M | 10.3M | 10.7M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -12.6 |
| P/FCF | N/A | N/A | N/A | N/A | 101.1 | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 1.8 | 0.3 | 0.7 | 6.4 | 1.9 |
| Price/Sales | 10.1 | 7.1 | 0.9 | 0.3 | 1.0 | 0.5 |
| FCF Yield | -4.9% | -20.9% | -215.4% | -116.4% | 1.0% | N/A |
| Market Cap | 321M | 113M | 7.2M | 9.4M | 85M | 24M |
| Avg. Price | 46.67 | 29.04 | 3.45 | 0.97 | 4.01 | 2.26 |
| Year-End Price | 57.83 | 12.60 | 0.79 | 0.91 | 8.25 | 2.26 |
Laird Superfood, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 27.3%.
Laird Superfood, Inc. (LSF) has a 5-year average return on invested capital (ROIC) of -67.4%. This is below average and may indicate limited pricing power.
Laird Superfood, Inc. (LSF) has a market capitalization of $24M. It is classified as a small-cap stock.
Laird Superfood, Inc. (LSF) does not currently pay a regular dividend.
Laird Superfood, Inc. (LSF) operates in the Food And Kindred Products industry, within the Consumer Defensive sector.
Laird Superfood, Inc. (LSF) reported annual revenue of $43 million in its most recent fiscal year, based on SEC EDGAR filings.
Laird Superfood, Inc. (LSF) has a net profit margin of -4.2%. The company is currently unprofitable.
Laird Superfood, Inc. (LSF) generated $841 thousand in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Laird Superfood, Inc. (LSF) has a debt-to-equity ratio of 0.46. This indicates a conservatively financed balance sheet.
Laird Superfood, Inc. (LSF) reported earnings per share (EPS) of $-0.18 in its most recent fiscal year.
Laird Superfood, Inc. (LSF) has a return on equity (ROE) of -13.7%. A negative ROE may indicate losses or negative equity.
Laird Superfood, Inc. (LSF) has a 5-year average gross margin of 27.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 5 years of financial data for Laird Superfood, Inc. (LSF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Laird Superfood, Inc. (LSF) has a book value per share of $1.28, based on its most recent annual SEC filing.