Laird Superfood Inc Financials

LSF

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Laird Superfood Inc (LSF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 61/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Laird Superfood Inc has an operating margin of -5.0%, meaning the company retains $-5 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -31.3% the prior year.

Growth

100

Laird Superfood Inc's revenue surged 26.5% year-over-year to $43.3M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Laird Superfood Inc carries a low D/E ratio of 0.46, meaning only $0.46 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 3.03, Laird Superfood Inc holds $3.03 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

Laird Superfood Inc's free cash flow margin of 1.9% results in a low score of 10/100. Capital expenditures of $25K absorb a large share of operating cash flow.

Piotroski F-Score Neutral

5/9

Laird Superfood Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.69x

For every $1 of reported earnings, Laird Superfood Inc generates $-0.69 in operating cash flow ($866K OCF vs -$1.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$43.3M

YoY+26.5%

5Y CAGR+27.0%

Laird Superfood Inc generated $43.3M in revenue in fiscal year 2024. This represents an increase of 26.5% from the prior year.

EBITDA

-$1.9M

YoY+81.7%

Laird Superfood Inc's EBITDA was -$1.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 81.7% from the prior year.

Free Cash Flow

$841K

YoY+107.7%

Laird Superfood Inc generated $841K in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 107.7% from the prior year.

Net Income

-$1.3M

YoY+87.6%

Laird Superfood Inc reported -$1.3M in net income in fiscal year 2024. This represents an increase of 87.6% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$8.3M

YoY+10.2%

5Y CAGR+52.7%

Laird Superfood Inc held $8.3M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

10M

YoY+9.7%

5Y CAGR+19.7%

Laird Superfood Inc had 10M shares outstanding in fiscal year 2024. This represents an increase of 9.7% from the prior year.

Gross Margin

40.8%

YoY+10.7pp

5Y CAGR+2.0pp

Laird Superfood Inc's gross margin was 40.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 10.7 percentage points from the prior year.

Operating Margin

-5.0%

YoY+26.2pp

5Y CAGR+61.8pp

Laird Superfood Inc's operating margin was -5.0% in fiscal year 2024, reflecting core business profitability. This is up 26.2 percentage points from the prior year.

Net Margin

-2.9%

YoY+26.8pp

5Y CAGR+62.0pp

Laird Superfood Inc's net profit margin was -2.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 26.8 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$114K

YoY-48.1%

5Y CAGR-18.8%

Laird Superfood Inc invested $114K in research and development in fiscal year 2024. This represents a decrease of 48.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$25K

YoY-82.8%

5Y CAGR-60.0%

Laird Superfood Inc invested $25K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 82.8% from the prior year.

LSF Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$43.3M+26.5%	$34.2M-4.5%	$35.8M-2.7%	$36.8M+42.8%	$25.8M+96.8%	$13.1M
Cost of Revenue	$25.6M+7.1%	$23.9M-22.0%	$30.6M+11.9%	$27.4M+42.6%	$19.2M+139.5%	$8.0M
Gross Profit	$17.7M+71.5%	$10.3M+98.8%	$5.2M-45.0%	$9.4M+43.4%	$6.6M+29.4%	$5.1M
R&D Expenses	$114K-48.1%	$220K-48.6%	$428K-58.5%	$1.0M+102.7%	$508K+56.7%	$324K
SG&A Expenses	$9.3M-5.0%	$9.8M-68.0%	$30.6M+85.9%	$16.5M+86.4%	$8.8M+69.7%	$5.2M
Operating Income	-$2.2M+79.7%	-$10.7M+73.5%	-$40.4M-68.5%	-$24.0M-85.3%	-$12.9M-47.7%	-$8.8M
Interest Expense	N/A	N/A	N/A	N/A	$0-100.0%	$49K
Income Tax	$42K+179.6%	$15K-25.0%	$20K+13.7%	$18K	$0	N/A
Net Income	-$1.3M+87.6%	-$10.2M+74.8%	-$40.3M-69.0%	-$23.9M-85.8%	-$12.9M-51.1%	-$8.5M
EPS (Diluted)	N/A	$-1.09+75.3%	$-4.41-65.8%	$-2.66-1.9%	$-2.61-800.0%	$-0.29

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Revenue	$12.9M+7.5%	$12.0M+2.9%	$11.7M+26.6%	$9.2M+0.3%	$9.2M+18.8%	$7.7M-4.8%	$8.1M-9.6%	$9.0M
Cost of Revenue	$8.2M+13.6%	$7.2M+6.5%	$6.8M+23.3%	$5.5M-13.3%	$6.3M+8.3%	$5.8M-6.3%	$6.2M-33.5%	$9.4M
Gross Profit	$4.7M-1.6%	$4.8M-2.1%	$4.9M+31.4%	$3.7M+30.5%	$2.8M+51.8%	$1.9M+0.1%	$1.9M+554.5%	-$412K
R&D Expenses	N/A	N/A	N/A	$13K-66.6%	$40K-51.3%	$82K-1.8%	$84K-9.0%	$92K
SG&A Expenses	$2.7M+22.6%	$2.2M-1.8%	$2.2M+27.2%	$1.8M-21.5%	$2.2M-16.7%	$2.7M-12.5%	$3.1M-73.8%	$11.7M
Operating Income	-$996K-149.2%	-$399K-83.2%	-$218K-572.2%	$46K+101.7%	-$2.8M+23.8%	-$3.7M+15.0%	-$4.3M+72.5%	-$15.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$7K-13.7%	$8K-34.5%	$13K+523.4%	$2K	$0-100.0%	$750-94.0%	$12K+185.7%	-$14K
Net Income	-$975K-169.2%	-$362K-131.9%	-$156K-209.3%	$143K+105.4%	-$2.7M+24.3%	-$3.5M+15.4%	-$4.1M+73.4%	-$15.6M
EPS (Diluted)	N/A	N/A	N/A	$0.02+107.1%	$-0.28+26.3%	$-0.38+15.6%	$-0.45+73.4%	$-1.69

LSF Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$19.3M+6.8%	$18.0M-40.0%	$30.0M-54.4%	$65.8M-20.0%	$82.3M+402.0%	$16.4M
Current Assets	$18.0M+10.0%	$16.3M-40.7%	$27.5M-42.3%	$47.7M-37.3%	$76.0M+656.6%	$10.0M
Cash & Equivalents	$8.3M+10.2%	$7.6M-56.2%	$17.3M-24.6%	$22.9M-59.7%	$57.0M+5574.1%	$1.0M
Inventory	$6.0M-5.5%	$6.3M+11.0%	$5.7M-44.3%	$10.2M+62.3%	$6.3M+158.5%	$2.4M
Accounts Receivable	$1.8M+72.4%	$1.0M-31.6%	$1.5M+17.8%	$1.3M+51.1%	$840K+118.2%	$385K
Goodwill	N/A	$0	$0-100.0%	$6.5M	$0	N/A
Total Liabilities	$6.1M+31.2%	$4.6M-38.6%	$7.5M+98.5%	$3.8M+35.8%	$2.8M-66.3%	$8.3M
Current Liabilities	$5.9M+35.3%	$4.4M-41.3%	$7.5M+96.8%	$3.8M+38.0%	$2.7M+80.9%	$1.5M
Long-Term Debt	N/A	N/A	N/A	N/A	$51K	N/A
Total Equity	$13.2M-1.6%	$13.4M-40.4%	$22.5M-63.7%	$62.1M-22.0%	$79.5M+880.7%	$8.1M
Retained Earnings	-$108.1M-1.7%	-$106.3M-10.6%	-$96.1M-72.3%	-$55.8M-74.8%	-$31.9M-67.4%	-$19.1M

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Total Assets	$18.9M-7.7%	$20.4M-5.0%	$21.5M+19.2%	$18.0M-7.0%	$19.4M-11.0%	$21.8M-12.7%	$25.0M-16.9%	$30.0M
Current Assets	$18.4M-4.3%	$19.2M-4.9%	$20.2M+23.7%	$16.3M-7.2%	$17.6M-11.6%	$19.9M-13.1%	$22.9M-16.8%	$27.5M
Cash & Equivalents	$5.1M+29.4%	$3.9M-43.8%	$7.0M-7.7%	$7.6M+6.0%	$7.1M-31.9%	$10.5M-11.1%	$11.8M-31.8%	$17.3M
Inventory	$10.0M-9.5%	$11.0M+15.9%	$9.5M+50.4%	$6.3M-3.5%	$6.6M+11.9%	$5.9M+8.7%	$5.4M-5.4%	$5.7M
Accounts Receivable	$2.0M-27.9%	$2.8M+18.7%	$2.3M+126.7%	$1.0M-53.2%	$2.2M+20.5%	$1.8M-37.6%	$2.9M+94.6%	$1.5M
Goodwill	N/A	N/A	N/A	$0	$0	$0	$0	$0
Total Liabilities	$6.0M-14.2%	$7.1M-13.6%	$8.2M+76.7%	$4.6M-27.7%	$6.4M-1.6%	$6.5M+0.9%	$6.4M-14.4%	$7.5M
Current Liabilities	$6.0M-14.1%	$7.0M-13.5%	$8.0M+83.9%	$4.4M-28.4%	$6.1M-1.3%	$6.2M+1.3%	$6.1M-18.0%	$7.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$12.8M-4.2%	$13.4M+0.3%	$13.3M-0.6%	$13.4M+3.2%	$13.0M-15.0%	$15.3M-17.4%	$18.5M-17.8%	$22.5M
Retained Earnings	-$109.6M-0.9%	-$108.6M-0.3%	-$108.3M-1.9%	-$106.3M+0.1%	-$106.4M-2.6%	-$103.8M-3.5%	-$100.3M-4.3%	-$96.1M

LSF Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$866K+108.0%	-$10.8M+24.8%	-$14.3M+35.2%	-$22.1M-50.5%	-$14.7M-55.7%	-$9.4M
Capital Expenditures	$25K-82.8%	$144K-87.5%	$1.2M-25.8%	$1.6M+46.7%	$1.1M-56.3%	$2.4M
Free Cash Flow	$841K+107.7%	-$10.9M+29.5%	-$15.5M+34.6%	-$23.7M-50.2%	-$15.7M-32.8%	-$11.9M
Investing Cash Flow	-$25K-103.6%	$690K-92.3%	$9.0M+171.0%	-$12.6M-195.2%	-$4.3M+46.0%	-$7.9M
Financing Cash Flow	-$33K-21.7%	-$27K-126.8%	$102K-82.3%	$576K-99.2%	$75.2M+7204.5%	$1.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	$0-100.0%	$21K-98.2%	$1.1M

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Operating Cash Flow	$1.2M+144.2%	-$2.8M-121.8%	-$1.3M-880.8%	$163K+104.7%	-$3.5M-146.8%	-$1.4M+76.8%	-$6.1M-90.4%	-$3.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$15K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$3.2M
Investing Cash Flow	$4K+149.7%	-$8K+88.3%	-$72K-158.8%	$123K-61.8%	$322K+192.6%	$110K-19.0%	$136K+1403.2%	-$10K
Financing Cash Flow	-$155K-8.9%	-$143K-3619.8%	-$4K+12.0%	-$4K-10.9%	-$4K+73.3%	-$15K-233.9%	-$4K+76.6%	-$19K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LSF Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	40.8%+10.7pp	30.1%+15.7pp	14.5%-11.1pp	25.6%+0.1pp	25.5%-13.3pp	38.8%
Operating Margin	-5.0%+26.2pp	-31.3%+81.4pp	-112.7%-47.6pp	-65.1%-14.9pp	-50.1%+16.6pp	-66.8%
Net Margin	-2.9%+26.8pp	-29.7%+82.9pp	-112.6%-47.7pp	-64.8%-15.0pp	-49.8%+15.1pp	-64.9%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-6.5%+49.8pp	-56.4%+77.9pp	-134.3%-98.0pp	-36.3%-20.6pp	-15.6%+36.2pp	-51.8%
Current Ratio	3.03-0.7	3.73+0.0	3.69-8.9	12.59-15.1	27.70+21.1	6.62
Debt-to-Equity	0.46+0.1	0.34+0.0	0.33+0.3	0.06+0.1	0.00-1.0	1.02
FCF Margin	1.9%+33.8pp	-31.9%+11.3pp	-43.2%+21.1pp	-64.3%-3.2pp	-61.1%+29.4pp	-90.5%

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Gross Margin	36.5%-3.4pp	39.9%-2.0pp	41.9%+1.5pp	40.4%+9.3pp	31.0%+6.7pp	24.3%+1.2pp	23.1%+27.7pp	-4.6%
Operating Margin	-7.7%-4.4pp	-3.3%-1.5pp	-1.9%-2.4pp	0.5%+30.9pp	-30.4%+17.0pp	-47.3%+5.7pp	-53.0%+121.6pp	-174.6%
Net Margin	-7.6%-4.5pp	-3.0%-1.7pp	-1.3%-2.9pp	1.6%+30.5pp	-28.9%+16.5pp	-45.4%+5.7pp	-51.1%+122.3pp	-173.4%
Return on Equity	1.3%	N/A	N/A	1.1%	N/A	N/A	N/A	N/A
Return on Assets	-5.2%-3.4pp	-1.8%-1.0pp	-0.7%-1.5pp	0.8%+14.5pp	-13.7%+2.4pp	-16.1%+0.5pp	-16.6%+35.2pp	-51.8%
Current Ratio	3.08+0.3	2.76+0.2	2.51-1.2	3.73+0.9	2.88-0.3	3.21-0.5	3.75+0.1	3.69
Debt-to-Equity	0.47-0.1	0.53-0.1	0.61+0.3	0.34-0.1	0.49+0.1	0.42+0.1	0.35+0.0	0.33
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-35.6%

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Frequently Asked Questions

What is Laird Superfood Inc's annual revenue?

Laird Superfood Inc (LSF) reported $43.3M in total revenue for fiscal year 2024. This represents a 26.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Laird Superfood Inc's revenue growing?

Laird Superfood Inc (LSF) revenue grew by 26.5% year-over-year, from $34.2M to $43.3M in fiscal year 2024.

Is Laird Superfood Inc profitable?

No, Laird Superfood Inc (LSF) reported a net income of -$1.3M in fiscal year 2024, with a net profit margin of -2.9%.

What is Laird Superfood Inc's EBITDA?

Laird Superfood Inc (LSF) had EBITDA of -$1.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Laird Superfood Inc's gross margin?

Laird Superfood Inc (LSF) had a gross margin of 40.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Laird Superfood Inc's operating margin?

Laird Superfood Inc (LSF) had an operating margin of -5.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Laird Superfood Inc's net profit margin?

Laird Superfood Inc (LSF) had a net profit margin of -2.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Laird Superfood Inc's free cash flow?

Laird Superfood Inc (LSF) generated $841K in free cash flow during fiscal year 2024. This represents a 107.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Laird Superfood Inc's operating cash flow?

Laird Superfood Inc (LSF) generated $866K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Laird Superfood Inc's total assets?

Laird Superfood Inc (LSF) had $19.3M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Laird Superfood Inc's capital expenditures?

Laird Superfood Inc (LSF) invested $25K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Laird Superfood Inc spend on research and development?

Laird Superfood Inc (LSF) invested $114K in research and development during fiscal year 2024.

How many shares does Laird Superfood Inc have outstanding?

Laird Superfood Inc (LSF) had 10M shares outstanding as of fiscal year 2024.

What is Laird Superfood Inc's current ratio?

Laird Superfood Inc (LSF) had a current ratio of 3.03 as of fiscal year 2024, which is generally considered healthy.

What is Laird Superfood Inc's debt-to-equity ratio?

Laird Superfood Inc (LSF) had a debt-to-equity ratio of 0.46 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Laird Superfood Inc's return on assets (ROA)?

Laird Superfood Inc (LSF) had a return on assets of -6.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Laird Superfood Inc's Piotroski F-Score?

Laird Superfood Inc (LSF) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Laird Superfood Inc's earnings high quality?

Laird Superfood Inc (LSF) has an earnings quality ratio of -0.69x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Laird Superfood Inc?

Laird Superfood Inc (LSF) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.