Laird Superfood, Inc. (LSF) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 45%. A quarter ago, it was expected that this company would post a loss of $0.21 per share when it actually produced break-even earnings, delivering a surprise of 100%.Over the last four quarters, the company has surp ...

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, 2024 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) ...

Exhibit 99.1 Laird Superfood Reports First Quarter 2024 Financial Results Net Sales grew 22%. Achieved 40% Gross Margin for the second consecutive quarter. Boulder, Colorado – May 8, 2024 – Laird Superfood, Inc. (NYSE American: LSF) ("Laird Superfood," the "Company", "we", and "our"), today reported financial results for the first quarter ended March 31, 2024. Jason Vieth, Chief Executive Officer, commented, "After more than 18 months of executing a turnaround on our business, I am pleased to announce first ...

Financial Performance - Net sales for 2023 were $34,224,198, down from $35,828,392 in 2022, representing a decrease of about 4.5%[271] - Gross profit increased significantly from $5,187,267 in 2022 to $10,313,277 in 2023, reflecting an increase of approximately 98%[271] - Net loss for 2023 was $(10,163,117), compared to $(40,337,318) in 2022, indicating a 75% improvement[274] - Operating loss improved from $(40,364,137) in 2022 to $(10,698,986) in 2023, a reduction of about 73%[271] - The net loss for 2023 was $10,163,117, resulting in a basic and diluted loss per share of $1.09, compared to a net loss of $40,337,318 and a loss per share of $4.41 in 2022[379] Assets and Liabilities - Total assets decreased from $30,039,340 in 2022 to $18,031,959 in 2023, a decline of approximately 40%[268] - Total liabilities decreased from $7,528,328 in 2022 to $4,619,340 in 2023, a reduction of approximately 39%[268] - Stockholders' equity fell from $22,511,012 in 2022 to $13,412,619 in 2023, a decline of about 40%[268] - Cash flows from operating activities resulted in a net cash outflow of $10,765,881 for 2023, compared to an outflow of $14,312,439 in 2022, indicating a 24.5% improvement[280] - Total cash, cash equivalents, and restricted cash decreased to $7,706,806 as of December 31, 2023, down from $17,809,802 in 2022, reflecting a decline of 56.7%[292] Expenses - Research and product development expenses decreased from $427,537 in 2022 to $219,723 in 2023, a reduction of approximately 48%[271] - Advertising expenses decreased from $6,914,706 in 2022 to $3,825,969 in 2023, a decline of about 45%[271] - The Company recorded total rent expense of $519,498 for the year ended December 31, 2023, a decrease of 64.6% from $1,466,222 in 2022[359] - Operating lease expense for 2023 was $181,914, down 84.9% from $1,204,334 in 2022[359] - The total stock-based compensation expense for 2023 was $1,092,146, a decrease from $1,788,566 in 2022, with unrecognized compensation cost related to non-vested awards amounting to $654,313[378] Inventory and Receivables - Inventory reserves as of December 31, 2023, totaled $1,029,657, a decrease from $1,545,033 in 2022, indicating a reduction of approximately 33.3%[296] - Accounts receivable allowances for credit losses increased to $243,416 in 2023 from $77,436 in 2022, reflecting a significant rise of 213.5%[294] - Accounts receivable, net, as of December 31, 2023, was $1,022,372, a decrease from $1,494,469 at the end of 2022[385] Revenue Recognition and Sales - The company recognizes revenue when control of the promised good is transferred to the customer, considering various shipping terms and performance obligations[384] - Coffee creamers generated $20,381,166 in sales, accounting for 60% of total sales in 2023, up from 55% in 2022[385] - E-commerce sales decreased to $19,443,885, representing 57% of total sales, down from 62% in 2022[385] - Returns and discounts increased to $7,709,115, representing 23% of gross sales in 2023, compared to 16% in 2022[385] Stock and Equity - The weighted-average shares of common stock outstanding increased from 9,146,008 in 2022 to 9,297,226 in 2023[271] - The Company issued 1,430,500 stock options to employees on February 23, 2024, with an exercise price of $0.73[329] - The Company granted 700,000 stock options in 2023, with a weighted average exercise price of $0.89[372] - The balance of Restricted Stock Units (RSUs) at December 31, 2023, was 771,885, with a weighted average grant date fair value of $1.77 per share[374] Tax and Deferred Assets - The Company reported a tax benefit at statutory rates of $2,131,064 for 2023, down from $8,430,127 in 2022[362] - The Company recorded a total of $25,701,128 in deferred tax assets as of December 31, 2023, compared to $23,928,265 in 2022[363] - The Company has a valuation allowance for deferred tax assets of $25,701,128 as of December 31, 2023, unchanged from 2022[363] Quality and Compliance - The company implemented a new sensory testing program to prevent future quality issues following a product withdrawal in 2023[322] - The company incurred costs of $0.5 million in Q4 2022 and $0.4 million in Q1 2023 due to a product quality issue, with recoveries of $0.3 million recognized in 2023[322] - The company recorded $1,273,171 in costs related to the disposal of and reserve for obsolete inventory in 2023, down from $2,761,476 in 2022, representing a decrease of 53.8%[295]

Laird Superfood, Inc. (NYSE:LSF) Q4 2023 Results Conference Call March 12, 2024 5:00 PM ET Company Participants Steven Richie - General Counsel Jason Vieth - President and Chief Executive Officer Anya Hamill - Chief Financial Officer Conference Call Participants Bobby Burleson - Canaccord Genuity Alex Fuhrman - Craig Hallum JP Wollam - ROTH Capital Partners Operator Good afternoon. Thank you for attending the Laird Superfood, Inc. Fourth Quarter 2023 Financial Results Call. My name is Matt, and I'll be your ...

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 ...