Stran & Company Reports Preliminary Selected Unaudited Results for the First Quarter of 2024

Core Viewpoint - Stran & Company, Inc. is projecting strong growth in the first quarter of 2024, with a year-over-year revenue increase of approximately 17% compared to the same period in 2023, despite a challenging market environment [3]. Company Overview - Stran has been a leader in the promotional products industry for over 29 years, specializing in complex marketing programs that enhance brand awareness and drive sales [2]. - The company serves many Fortune 500 clients across various industries, managing promotional marketing, loyalty, and incentive programs [2]. - Stran emphasizes building long-term relationships with clients to foster brand loyalty [2]. Financial Performance - Revenue is expected to grow by 17% year-over-year for the first quarter of 2024 [3]. - Gross margin is projected to improve by over 100 basis points compared to the first quarter of 2023 [3][7]. - Cash, cash equivalents, and investments are anticipated to increase to $20.2 million as of March 31, 2024, up from $18.5 million at the end of 2023 [3][6]. Audit and Reporting - Stran has engaged Marcum LLP as its new independent public accounting firm after dismissing its previous firm, aiming to complete quarterly reporting procedures efficiently [3].