Laird Superfood, Inc. reports news about its functional coffee, creamers, and superfood products made with simple, minimally processed ingredients. Company updates commonly cover product launches and reformulations, including organic prebiotic greens, protein coffee, plant-based creamers, instant lattes, hydration products, beverage enhancers, teas, hot chocolate, and snacks.
LSF news also includes financial results, channel activity across wholesale and retail outlets, acquisitions in the superfoods category, and capital-structure developments tied to preferred equity financing. Corporate updates may address governance matters, shareholder votes, and investor presentations alongside operating performance.
Laird Superfood (NYSE American: LSF) announced that Paul Hodge, Jr. will transition to a non-executive role and step down as President and CEO following the appointment of his successor. The Board has initiated a search for a candidate with extensive CPG experience to drive future growth. Hodge expressed pride in the company’s accomplishments over six years, emphasizing its commitment to high-quality, natural ingredients and sustainability. He will remain a board member post-transition. The company is poised for further growth as it seeks to become a multi-billion-dollar business.
Laird Superfood reported a 64% increase in net sales for Q2 2021, totaling $9.2 million, driven by strong online and wholesale performances. Online sales surged 94%, while wholesale grew 77%. Gross profit rose to $2.2 million, with a gross margin of 23.9%. However, the company experienced a net loss of $6.3 million, widening from a loss of $4.0 million year-over-year. The acquisition of Picky Bars contributed positively, though operating expenses doubled, leading to operational losses.
Laird Superfood (NYSE American: LSF) announced the seasonal relaunch of its popular Pumpkin Spice coffee creamer, available in three dairy-free options: Pumpkin Spice Superfood Creamer, Aloha OatMac Creamer, and Liquid Creamer. The products combine real pumpkin powder and spices, offering a guilt-free alternative to traditional sweeteners. Prices range from $4.95 to $9.95. Co-founder Laird Hamilton emphasized that these creamers enhance morning beverages without excessive sweetness, making them appealing to health-conscious consumers.
Laird Superfood (NYSE American: LSF) has launched its new Soothe Coffee, enhancing its functional coffee lineup. This blend includes stomach-friendly botanicals like Marshmallow Root, Cardamon, and Blueberries, aiming to provide a gentler coffee experience. Soothe Coffee follows the introduction of Boost Coffee and Focus Coffee, which feature health benefits such as Vitamin D and functional mushroom extracts, respectively. Priced at $17.95 for a 12 oz. bag, Soothe Coffee aims to meet the needs of coffee lovers seeking a more harmonious beverage.
Laird Superfood (NYSE American: LSF) has launched its first functional powdered milk product, Aloha Oat & Macadamia Nut Milk, available in Original and Unsweetened flavors. This innovative product aims to meet the rising consumer interest in plant-based foods, which represent 35% of the total plant-based market. The milk powder is made without additives commonly found in competitor products and features sustainable, high-quality ingredients like Aquamin and Agaricus Mushroom Powder for added nutritional benefits. Each 8-ounce bag produces four quarts of milk, reducing environmental impact and waste.
Laird Superfood (NYSE American: LSF) has launched its new Aloha Oat & Macadamia Nut Superfood Creamer, expanding its popular line of powdered superfood creamers. This marks the company’s first non-coconut based creamer, catering to the growing demand for plant-based products. With the plant-based creamer market growing 77% over the past two years, Laird Superfood aims to innovate within this space. The Aloha OatMac Creamer is offered in various flavors and sizes, priced between $9.95 and $19.95, with all ingredients being all-natural and plant-based.
Laird Superfood, Inc. (NYSE American: LSF) has launched its new product Renew Rest & Recover, designed to enhance sleep naturally. Following the introduction of Daily Ritual customizable bundles, this sleep aid features a blend of plant-based ingredients. Additionally, Laird Superfood plans to launch the Activate Immune Support formula, aimed at boosting the immune system. Both products are priced at $19.95 and are made from natural ingredients, promoting a healthier lifestyle.
Laird Superfood, Inc. (NYSE American: LSF) announced participation in the BMO Capital Markets 16th Annual Farm to Market Conference on May 19, 2021, at 3:20 p.m. ET. Key executives, including Co-Founder Paul Hodge and Laird Hamilton, will present and engage in Q&A moderated by Ken Zaslow. Investors can access a live webcast on Laird Superfood's Investor Relations website, with a replay available for three months. Established in 2015, Laird Superfood specializes in plant-based products aimed at enhancing daily rituals and fueling consumers with real ingredients.
Laird Superfood reported a 35% year-over-year increase in net sales, reaching $7.4 million for Q1 2021, driven largely by online sales which rose 65%. Despite the revenue growth, gross profit declined to $1.9 million with a gross margin of 25.1%, down from 38.6% in Q1 2020. The net loss attributable to common stockholders was $5.3 million, translating to $0.60 per diluted share. The company aims to focus on expanding market share and optimizing margins, highlighted by their recent acquisition of Picky Bars.
Laird Superfood, Inc. (NYSE American: LSF) has launched the Ohana Cares program, focused on providing plant-based food to support communities facing food insecurity, frontline workers, and athletes. This initiative reinforces the company's mission to make superfood products accessible and highlights three inaugural projects: 1) a Carbon Neutral Last-Mile shipping program, 2) a partnership with Feeding America to donate meals, and 3) a commitment to donate over $150,000 in product to frontline responders. The brand aims to address environmental impact and support those in need through its new program.