Laird Superfood | 8-K: FY2025 Q3 Revenue Misses Estimate at USD 12.9 M

Revenue: As of FY2025 Q3, the actual value is USD 12.9 M, missing the estimate of USD 14.14 M.

EPS: As of FY2025 Q3, the actual value is USD -0.09.

EBIT: As of FY2025 Q3, the actual value is USD -1.023 M.

Segment Revenue

• Net Sales: $12.9 million for Q3 2025, a 10% increase from $11.8 million in Q3 2024. Laird Superfood branded products saw a 14% increase, while Picky Bars branded products declined by 45%.
• Wholesale Sales: Increased by 39% year-over-year, contributing 53% of total net sales.
• E-commerce Sales: Decreased by 11% year-over-year, contributing 47% of total net sales.

Operational Metrics

• Gross Margin: 36.5% in Q3 2025, down from 43.0% in Q3 2024, primarily due to the non-recurrence of a supplier settlement benefit and increased commodity cost inflation.
• Net Loss: $1.0 million, or $0.09 per diluted share, compared to a net loss of $0.2 million, or $0.02 per diluted share, in Q3 2024. The increase was driven by impairment of long-lived intangible assets and higher marketing costs.
• Adjusted EBITDA: $0.2 million, or $0.01 per diluted share, compared to -$11.4 thousand, or -$0.00 per diluted share, in Q3 2024.

Cash Flow

• Cash Flow from Operating Activities: -$2.9 million for the nine months ended September 30, 2025, compared to $0.5 million provided in the same period in 2024. The increase in cash used was due to strategic investments in inventory and raw materials.

Unique Metrics

• Cash and Cash Equivalents: $5.3 million as of September 30, 2025, with no outstanding debt.

Outlook / Guidance

• Net Sales Growth: Management expects full-year 2025 net sales growth of approximately 15%.
• Gross Margin: Expected to be in the upper 30% range for the full year, supported by productivity initiatives and cost-management actions.
• Adjusted EBITDA: The company reaffirms its expectation of achieving breakeven adjusted EBITDA for the full year, despite anticipating a net loss on a GAAP basis.