Exhibit 99.1 Laird Superfood Reports Fourth Quarter and Fiscal Year 2023 Financial Results Positive Net Income and Operating Cash Flows for the first time in the Company's history. Boulder, Colorado – March 12, 2024 – Laird Superfood, Inc. (NYSE American: LSF) ("Laird Superfood," the "Company", "we", and "our"), today reported financial results for its fourth quarter and year ended December 31, 2023. Jason Vieth, Chief Executive Officer, commented, "I am delighted to share that our Q4 results are by far the ...

Laird Superfood, Inc. (NYSE:LSF) Q3 2023 Earnings Call Transcript November 8, 2023 5:00 PM ET Company Participants Trevor Rousseau - IR Jason Vieth - President and CEO Anya Hamil - CFO Conference Call Participants Bobby Burleson - Bobby Burleson Alex Fuhrman - Craig-Hallum Operator Good afternoon. Thank you for attending today's Laird Superfood Third Quarter 2023 Financial Results Conference Call. My name is Cole, and I'll be the moderator for today's call. [Operator Instructions] I would now like to pass t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39537 Laird Superfood, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 81-1589788 (State or other jurisdiction of incorp ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39537 Laird Superfood, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) ...

Laird Superfood, Inc. (NYSE:LSF) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET Company Participants Trevor Rousseau - Investor Relations Jason Vieth - President and Chief Executive Officer Anya Hamil - Chief Financial Officer Conference Call Participants Alex Fuhrman - Craig-Hallum Operator Good afternoon and thank you for joining the Laird Superfood Incorporated Second Quarter 2023 Financial Results Conference Call. My name is Kate and I will be the moderator for today’s call. [Operator Instru ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39537 https://reportify- 1252068037.cos.a beijing myqcloud Laird Superfood, Inc. (Exact Name of Registrant as Specified in its Charter) (State or ...

Part I [Business](index=6&type=section&id=Item%201.%20Business) Laird Superfood is a plant-based and functional food company utilizing an omnichannel strategy and third-party manufacturing - The company's core product pillars are Coffee creamers, Hydration products, Harvest snacks, and Coffee, tea, and hot chocolate products[19](index=19&type=chunk) Net Sales by Distribution Channel (2022 vs 2021) | Channel | 2022 Net Sales | % of Total | 2021 Net Sales | % of Total | | :--- | :--- | :--- | :--- | :--- | | E-commerce | $22,313,241 | 62% | $22,687,736 | 62% | | Wholesale | $13,515,151 | 38% | $14,123,217 | 38% | | **Total Sales, net** | **$35,828,392** | **100%** | **$36,810,953** | **100%** | Gross Sales by Product Category (2022 vs 2021) | Product Category | 2022 Gross Sales | % of Total | 2021 Gross Sales | % of Total | | :--- | :--- | :--- | :--- | :--- | | Coffee creamers | $19,800,429 | 55% | $21,767,409 | 59% | | Hydration and beverage enhancing supplements | $4,877,067 | 14% | $5,814,629 | 16% | | Harvest snacks and other food items | $7,191,316 | 20% | $7,108,361 | 19% | | Coffee, tea, and hot chocolate products | $6,648,576 | 19% | $5,228,888 | 14% | | Other | $1,805,914 | 5% | $808,352 | 2% | - The company relies on a few key suppliers, purchasing substantial portions of its roasted coffee from **one supplier**, coconut milk powder from **two suppliers**, and coconut water powder from **one supplier**[73](index=73&type=chunk) - As of **December 31, 2022**, the company had **35 full-time employees** and **two part-time employees**[95](index=95&type=chunk) [Risk Factors](index=16&type=section&id=Item%201A.%20Risk%20Factors) The company faces risks from ongoing losses, reliance on third-party manufacturers, brand dependence, and supply chain issues - The company has incurred significant losses since its inception in **2015** and may continue to do so for the foreseeable future[109](index=109&type=chunk) - A majority of raw materials are purchased from non-US suppliers, exposing the company to international business risks such as tariffs, currency fluctuations, and political instability[133](index=133&type=chunk) - The company is reliant on the positive image and public popularity of its founders, Laird Hamilton and Gabrielle Reece. Any adverse effect on their reputation could negatively impact sales[162](index=162&type=chunk) - A product quality issue traced to **one supplier** of coconut milk powder resulted in a product withdrawal, leading to a **$0.6 million** inventory obsolescence charge in **Q4 2022**[158](index=158&type=chunk) - The company is an "emerging growth company" and relies on certain reduced disclosure exemptions, which may make its common stock less attractive to some investors[202](index=202&type=chunk) [Unresolved Staff Comments](index=31&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments - None[211](index=211&type=chunk) [Properties](index=31&type=section&id=Item%202.%20Properties) The company terminated Sisters, Oregon leases in January 2023 for co-manufacturing, relocating headquarters to Boulder - The company terminated its manufacturing and distribution leases in Sisters, Oregon, effective **January 31, 2023**, as it transitioned to a co-manufacturing business model[212](index=212&type=chunk) - The company's corporate headquarters are now located at **5303 Spine Road, Suite 204, Boulder, Colorado, 80301**[213](index=213&type=chunk) [Legal Proceedings](index=31&type=section&id=Item%203.%20Legal%20Proceedings) The company is not subject to any material legal proceedings - The company is not currently subject to any material legal proceedings[214](index=214&type=chunk) [Mine Safety Disclosures](index=31&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[215](index=215&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=32&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Common stock trades on NYSE American under "LSF" since September 2020, with no anticipated cash dividends - Common stock began trading on the NYSE American Market under the symbol "**LSF**" on **September 23, 2020**[218](index=218&type=chunk) - The company does not anticipate paying cash dividends in the foreseeable future[220](index=220&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) **FY2022** net sales **decreased 3%**, gross margin fell to **14.5%**, and operating loss widened to **$40.4 million** due to manufacturing transition costs Comparison of Results of Operations (FY2022 vs FY2021) | Metric | 2022 | 2021 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Sales, net | $35,828,392 | $36,810,953 | $(982,561) | (3)% | | Gross profit | $5,187,267 | $9,431,871 | $(4,244,604) | (45.0)% | | Gross margin | 14.5% | 25.6% | - | - | | Operating loss | $(40,364,137) | $(23,952,416) | $(16,411,721) | 69% | | Net loss | $(40,337,318) | $(23,870,546) | $(16,466,772) | 69% | - The company ceased in-house manufacturing and fulfillment at the end of **2022**, transitioning to a co-manufacturer and third-party logistics model to create a variable cost structure and reduce overhead[228](index=228&type=chunk) - General and administrative expenses **increased by 86%** to **$30.6 million**, primarily due to impairment of goodwill and intangible assets (**$9.6 million**), lease termination losses (**$3.6 million**), and other exit and disposal costs (**$3.2 million**)[249](index=249&type=chunk) - Cash used in operating activities **decreased** to **$14.3 million** in **FY2022** from **$22.1 million** in **FY2021**, primarily due to decreasing inventory levels despite a larger net loss[257](index=257&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not required for smaller reporting companies - Not required for smaller reporting companies[274](index=274&type=chunk) [Financial Statements and Supplementary Data](index=41&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) The financial statements show a **$40.3 million** net loss in **2022**, total assets **decreased** to **$30.0 million**, with significant impairment and exit costs Consolidated Balance Sheet Highlights (As of Dec 31) | Account | 2022 | 2021 | | :--- | :--- | :--- | | Cash, cash equivalents, and restricted cash | $17,809,802 | $23,049,234 | | Total current assets | $27,530,911 | $47,681,834 | | Goodwill | $0 | $6,486,000 | | Total assets | $30,039,340 | $65,847,375 | | Total liabilities | $7,528,328 | $3,793,555 | | Total stockholders' equity | $22,511,012 | $62,053,820 | Consolidated Statement of Operations Highlights (Year Ended Dec 31) | Account | 2022 | 2021 | | :--- | :--- | :--- | | Sales, net | $35,828,392 | $36,810,953 | | Gross profit | $5,187,267 | $9,431,871 | | Impairment of goodwill and long-lived assets | $12,814,441 | $8,317 | | Operating loss | $(40,364,137) | $(23,952,416) | | Net loss | $(40,337,318) | $(23,870,546) | | Net loss per share (basic and diluted) | $(4.41) | $(2.66) | - The company recorded a full impairment of goodwill of **$6,486,000** in **2022** related to the Picky Bars acquisition, triggered by a sustained decline in stock price and changes in market conditions[369](index=369&type=chunk) - The company recorded **total exit and disposal costs** of **$8.7 million** in **2022** related to the closure of its Sisters, Oregon manufacturing facilities. This included a **$3.6 million loss** on lease termination and **$3.2 million** in asset impairment charges[339](index=339&type=chunk)[340](index=340&type=chunk) - As of **December 31, 2022**, **two customers** accounted for **68%** of trade accounts receivable, and **one supplier** accounted for **48%** of product purchases for the year[407](index=407&type=chunk)[410](index=410&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=73&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[427](index=427&type=chunk) [Controls and Procedures](index=73&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of **December 31, 2022**, after remediating a **Q1 2022** material weakness in net loss per share calculation - A material weakness in internal control over financial reporting was identified in **Q1 2022** related to a miscalculation of net loss per share, which was subsequently remediated[430](index=430&type=chunk) - Management concluded that as of **December 31, 2022**, the company's internal control over financial reporting was effective[433](index=433&type=chunk) [Other Information](index=74&type=section&id=Item%209B.%20Other%20Information) The company reports no other information - None[436](index=436&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=74&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This section is not applicable to the company - Not applicable[215](index=215&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=75&type=section&id=Item%2010.%20Directors,%20Executive%20Officers%20and%20Corporate%20Governance) The Board has **seven members**, including co-founder and CEO, with an executive team and an independent audit committee - The Board of Directors consists of **seven members**: Geoffrey T. Barker (Chairman), Patrick Gaston, Greg Graves, Laird Hamilton, Grant LaMontagne, Maile Naylor, and Jason Vieth[438](index=438&type=chunk) - The executive officer team includes Jason Vieth (CEO), Laird Hamilton (Co-Founder & Chief Innovator), Anya Hamill (CFO), Andy Judd (CCO), and Steve Richie (General Counsel)[450](index=450&type=chunk) - The Board has determined that Gregory B. Graves and Maile Naylor qualify as audit committee financial experts[456](index=456&type=chunk) [Executive Compensation](index=78&type=section&id=Item%2011.%20Executive%20Compensation) NEO compensation in **2022** included salary, bonuses, and equity, with CEO Jason Vieth's **total compensation** at **$2.33 million** 2022 Summary Compensation Table | Name and Principal Position | Salary ($) | Bonus ($) | Option Awards ($) | Stock Awards ($) | Total ($) | | :--- | :--- | :--- | :--- | :--- | :--- | | Jason Vieth, CEO | 368,182 | 287,833 | 676,115 | 996,250 | 2,328,380 | | Anya Hamill, CFO | 155,152 | 107,688 | 78,105 | 101,499 | 442,443 | | Andy Judd, CCO | 261,174 | 206,253 | 197,260 | 374,000 | 1,038,687 | - Non-employee directors receive an annual cash retainer of **$45,000**, plus additional retainers for committee and chair service, and an annual equity award valued at **$55,000**[485](index=485&type=chunk) - The company's compensation peer group consists of **17 publicly traded companies** in the food, beverage, and tobacco industry with revenues generally ranging from **0.2x to 5x** the company's annual revenue[470](index=470&type=chunk)[472](index=472&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=86&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) As of **December 31, 2022**, co-founder Laird Hamilton and Danone Manifesto Ventures were largest beneficial owners, with directors and officers owning **13.5%** of common stock Security Ownership of Major Shareholders and Management (as of Dec 31, 2022) | Name of Beneficial Owner | Number of Shares Beneficially Owned | Percent of Class | | :--- | :--- | :--- | | Laird Hamilton | 904,963 | 9.8% | | Danone Manifesto Ventures, PBC | 857,194 | 9.3% | | All current directors and executive officers as a group (10 persons) | 1,239,996 | 13.5% | - As of **December 31, 2022**, there were **788,960 shares** available for future issuance under the company's equity compensation plans[498](index=498&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=88&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) The company has a related person transaction policy, with no material transactions since **January 2021**, and **five of seven directors** deemed independent - There have been no reportable related person transactions since **January 1, 2021**, other than executive and director compensation[501](index=501&type=chunk) - The Board has determined that directors Barker, Gaston, Graves, LaMontagne, and Naylor are independent. CEO Vieth and Chief Innovator Hamilton are not considered independent[502](index=502&type=chunk) [Principal Accounting Fees and Services](index=88&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) The company paid Moss Adams LLP **$269,175** in **2022** and **$372,902** in **2021** for audit and other services, all pre-approved by the audit committee Fees Paid to Moss Adams LLP | Fee Category | 2022 | 2021 | | :--- | :--- | :--- | | Audit Fees | $269,175 | $319,302 | | Audit-Related Fees | $0 | $0 | | Tax Fees | $0 | $0 | | All Other Fees | $0 | $53,600 | | **Total Fees** | **$269,175** | **$372,902** | - The audit committee pre-approves all audit and non-audit services provided by the independent accounting firm to ensure independence is not impaired[508](index=508&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=90&type=section&id=Item%2015.%20Exhibits,%20Financial%20Statement%20Schedules) This section lists all exhibits filed with the report, including governing documents, material contracts, and required certifications - Lists all exhibits filed with the report, including governing documents, material contracts, and required certifications[511](index=511&type=chunk) - Financial statement schedules were omitted because the required information is either not applicable or already included in the consolidated financial statements or notes[510](index=510&type=chunk) [Form 10-K Summary](index=93&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company provides no summary in this section - None[515](index=515&type=chunk)

Laird Superfood, Inc. (NYSE:LSF) Q4 2022 Earnings Conference Call March 14, 2023 5:00 PM ET Company Participants Steve Richie - IR Jason Vieth - President and CEO Anya Hamil - CFO Andrew Judd - CCO Conference Call Participants Alex Fuhrman - Craig Hallum Bobby Burleson - Canaccord Operator Thank you for standing by, and welcome to the Fourth Quarter and Full Year 2022 Earnings Conference Call and Webcast for Laird Superfood, Inc. I would now like to turn the call over to Mr. Steve Richie of Laird Superfood ...

Laird Superfood, Inc. (NYSE:LSF) Q3 2022 Earnings Conference Call November 10, 2022 5:00 PM ET Company Participants Reed Anderson - Managing Director, ICR Jason Vieth - President and CEO Andrew Judd - CCO Anya Hamil - CFO Conference Call Participants Bobby Burleson - Canaccord Alex Fuhrman - Craig-Hallum Operator Good afternoon. Thank you for attending today's Laird Superfood, Inc. Third Quarter 2022 Financial Results Call. My name is Hana and I will be your moderator for today's call. All lines will be mut ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Title of each class | Symbol | on which registered | | --- | --- | --- | | Common Stock | Trading LSF | Name of each exchange NYSE American | Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the pr ...