Revenue expected to grow approximately 10% compared to the first six months of 2023 Gross margin expected to increase to 31.7% for the first six months of 2024 vs. 29.4% for the first six months of 2023 Cash, cash equivalents and investments expected to increase to $21.5 million as of June 30, 2024, compared to $18.5 million at December 31, 2023 Quincy, MA, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Stran & Company, Inc. ("Stran" or the "Company") (NASDAQ: SWAG) (NASDAQ: SWAGW), a leading outsourced marketing soluti ...

FORM 8-K CURRENT REPORT | --- | --- | |----------------------------------------------------------------------------------------------------------------|---------------------------------------| | STRAN & COMPANY, INC. (Exact name of registrant as specified in its \nNevada 001-41038 | charter) \n04-3297200 | | (State or other jurisdiction (Commission File Number) of incorporation) | (IRS Employer Identification No.) | | | | | 2 Heritage Drive, Suite 600, Quincy, MA | 02171 | | (Address of principal executive ...

Quincy, MA, June 28, 2024 (GLOBE NEWSWIRE) -- Stran & Company, Inc. ("Stran" or the "Company") (NASDAQ:SWAG) (NASDAQ:SWAGW), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today reported preliminary selected unaudited results for the first quarter of 2024. For over 29 years, Stran has grown to become a leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional p ...

Gross margin expected to increase by over 100 basis points versus first quarter of 2023 Quincy, MA, June 28, 2024 (GLOBE NEWSWIRE) -- Stran & Company, Inc. ("Stran" or the "Company") (NASDAQ: SWAG) (NASDAQ: SWAGW), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today reported preliminary selected unaudited results for the first quarter of 2024. The selected unaudited results in this press release are preliminary and subject to the c ...

"We are pleased to engage Marcum as they are one of the top-ranked by market share and among the largest PCAOB-registered audit and accounting firms in the U.S.," commented Andy Shape, President and CEO of Stran. "We believe it will be a swift transition to Marcum, at which time we look forward to resuming our scheduled reporting on our financial information as the information can be made available." About Stran Marcum offers its clients a full spectrum of traditional tax, accounting, and assurance services ...

"We are very proud to expand these meaningful contracts with leading organizations," commented Andy Shape, CEO of Stran. "These customers selected us based on our performance, trusted relationship, and consistent reliability of products and services. Our products management technology is designed for each customer to increase brand awareness, streamline operations, and enhance efficiency. In the case of one customer, their sales had doubled over a short period and they needed quick scaling of products, whic ...

Quincy, MA, June 04, 2024 (GLOBE NEWSWIRE) -- Stran & Company, Inc. ("Stran" or the "Company") (NASDAQ:SWAG, SWAGW))), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today announced that it has secured six-figure agreements with two industry-leading customers. First, Stran signed an agreement with one of the world's largest manufacturers of recreational watercrafts, which selected Stran to manage its promotional marketing based in p ...

Financial Performance - Annual revenues grew from approximately $240,000 in 1995 to approximately $75.9 million in 2023, reflecting a compound annual growth rate of approximately 22.8%[30] - Sales increased by 28.7% year-over-year in 2023 compared to 2022, driven by higher spending from existing clients and new customer acquisitions[32] - The promotional products market reached a record high of $26.1 billion in 2023, part of a total addressable market potentially up to $406 billion[35] - The company processed more than 50,000 customer orders per year, maintaining consistent gross margins of approximately 30% from 2018 to 2023[30] - The largest customer accounted for 13.2% of overall revenue in 2023, while the top 10 customers contributed 44.0% of revenue[44] - Program clients accounted for 77.2% of total revenue in 2023, down from 82.2% in 2022, indicating a focus on converting more transactional customers into program clients for greater revenue potential[49] Acquisitions and Growth Strategy - The company has made five acquisitions over the past three and a half years, including T R Miller Co., Inc. with sales of approximately $20.4 million for its fiscal year ended June 30, 2022[44] - The company plans to acquire businesses in the branded merchandise space with revenues between $5-10 million and smaller promotional companies with revenues of $2-5 million, targeting those with at least 30% gross margins[46] - Recent acquisitions include a 25,000-square-foot warehouse in Massachusetts and a 5,000-square-foot warehouse in Texas, enhancing in-house fulfillment capabilities[84] Operational Efficiency - The company plans to implement an internal commercial ERP system, Oracle/NetSuite's NetSuite ERP, in the second half of 2024 to enhance data organization[43] - The company is investing in an internal commercial ERP system, NetSuite ERP, expected to be implemented in the second half of 2024, aimed at enhancing data organization and reducing inefficiencies[61] - The company has developed a deep network of collaborator factories and service providers globally, enhancing its ability to meet customer needs efficiently[44] - The company has established a twelve-year relationship with Harte Hanks for warehousing and fulfillment, providing scalable solutions including real-time inventory reporting and climate-controlled facilities[58] - The company is expanding its in-house warehouse capabilities through acquisitions, including a 25,000-square-foot facility in Massachusetts and a 5,000-square-foot facility in Texas[59] Customer Engagement and Marketing - The company aims to enhance its digital marketing efforts, including SEO and social media platforms, to strengthen its marketing outreach and customer engagement[49] - The company has developed a custom e-commerce platform using Magento Open Source, allowing clients to manage marketing programs efficiently and access real-time data[60] - The company focuses on building custom loyalty and incentive programs, utilizing gamification tools and social media integration to drive customer engagement[53] - The company services approximately 2,000 active customers, including over 30 Fortune 500 companies, across various industries such as pharmaceutical, healthcare, and technology[72] Regulatory and Compliance Risks - The company is subject to various laws and regulations related to e-commerce, including privacy and data security, which are continually evolving[95] - Compliance with the Federal Food, Drug, and Cosmetic Act and other regulations is critical for the production and sale of products in the U.S.[96] - The company is subject to various federal, state, and local laws affecting labor, consumer safety, and environmental regulations[111] - The company must comply with evolving data protection laws, including the GDPR, which could impose significant penalties for violations[105] - The company is subject to various data privacy laws, including the California Consumer Privacy Act (CCPA) and the Colorado Privacy Act, which may impose substantial penalties for violations[137] Economic and Market Conditions - The company is affected by economic and political conditions, including import duties and tariffs, which could significantly disrupt operations[94] - The company’s revenues are impacted by overall economic conditions, including employment levels and potential economic slowdowns[153] - Rising inflation rates have driven up the costs of finished goods and raw materials, impacting profitability[125] - The company faces risks related to customer order cancellations, which could negatively impact operating results[128] - Changes in U.S. trade regulations and tariffs, particularly concerning China, may materially harm the company's revenue and operational results, potentially increasing costs and limiting product imports[156] Cybersecurity and Risk Management - The Chief Information Officer is responsible for assessing, monitoring, and managing cybersecurity risks, ensuring compliance with industry standards[224] - The company conducts thorough security assessments of all third-party providers before engagement and maintains ongoing monitoring for compliance with cybersecurity standards[221] - The company employs multi-factor authentication and a suite of security tools to protect sensitive data[218] - The board of directors oversees the management of risks associated with cybersecurity threats[223] - Significant cybersecurity matters and strategic risk management decisions are escalated to the board of directors[226] Financial Position and Capital Structure - The company had total assets of $61.6 million and total stockholder equity of $39.5 million as of December 31, 2023[31] - The company has a secured line of credit for borrowings of up to $7 million, which bears interest at the prime rate plus 0.5% per annum[183] - The company has authorized a stock repurchase program to buy back up to $10 million of its common stock, with repurchases scheduled to terminate as late as June 2024[192] - The company does not expect to declare or pay dividends in the foreseeable future, as it plans to invest future earnings into business development and growth[197] - The company is classified as a "smaller reporting company," allowing it to take advantage of certain reporting exemptions that may make its securities less attractive to investors[210]

Stran & Company, Inc. (NASDAQ:SWAG) Q4 2023 Earnings Conference Call March 28, 2024 10:00 AM ET Company Participants Alexandra Schilt - VP, Crescendo Communications Andy Shape - CEO David Browner - CFO Conference Call Participants Bill Jordan - Private Investor Operator Greetings, and welcome to the Stran & Company Fiscal 2023 Year-end Earnings Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Alexandra Schilt, Vice President of C ...

Exhibit 99.1 Stran & Company Reports 28.7% Increase in Sales and Achieves Profitability for the 2023 Fiscal Year Benefitting from Increased Operating Ef iciency and Economies of Scale, Evidenced by 156% Year-Over-Year Increase in Operating Income for the Fourth Quarter of 2023 Andy Shape, President and CEO of Stran, commented, "We made meaningful progress throughout 2023, resulting in record sales of approximately $75.9 million, a 28.7% increase over the prior year. Additionally, our gross profit increased ...