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Stran & Company Inc (SWAG) delivers specialized marketing solutions through branded merchandise and promotional strategies. This news hub provides investors and professionals with essential updates on corporate developments, financial performance, and industry leadership in outsourced marketing services.
Access real-time announcements including quarterly earnings, strategic partnerships, product innovations, and market expansion initiatives. Our curated collection ensures transparent tracking of SWAG's operational milestones and competitive positioning within the promotional products sector.
Key updates on custom sourcing programs, e-commerce platform enhancements, and client success stories demonstrate the company's evolving capabilities. Bookmark this page to monitor how SWAG continues to streamline brand exposure campaigns for diverse industries through integrated marketing solutions.
Stran & Company (NASDAQ: SWAG) reported its fiscal year 2024 results with sales increasing 8.8% to $82.7 million. The company achieved a gross profit of $25.8 million with a 31.2% margin, though it recorded a net loss of $4.1 million.
Key highlights include the successful acquisition of Gander Group assets, contributing $9.9 million in sales, and expansion into hospitality and entertainment verticals. The company secured multiple new multi-year contracts across various industries and completed a re-audit of 2023/2022 financial statements.
The company maintains a strong financial position with $18.2 million in cash, cash equivalents, and investments as of December 31, 2024. Management expressed optimism about reaching $100 million in annual sales in 2025, despite facing increased operating expenses and lower spending from existing clients in the core Stran segment.
Stran & Company (NASDAQ: SWAG) reported Q3 2024 financial results and received a Nasdaq listing extension. Sales grew 2.4% to $20.1 million in Q3 2024, while gross profit decreased 7.0% to $6.0 million. The company reported a net loss of $2.0 million compared to a $1.3 million profit in Q3 2023.
For the nine months ended September 30, 2024, sales increased 4.9% to $55.7 million, while gross profit slightly decreased 0.1% to $17.0 million. The company maintained a strong financial position with $17.0 million in cash and investments.
Notable developments include the strategic acquisition of Gander Group's assets in August 2024, enhancing the company's casino continuity and loyalty programs offerings. The company has met two of three Nasdaq compliance conditions and plans to hold its 2024 annual shareholder meeting to achieve full compliance.
Stran & Company (NASDAQ: SWAG) reported financial results for Q1 and Q2 2024. Q1 sales increased 17.9% to $18.8 million, while Q2 sales decreased 4.1% to $16.7 million. For the six months ended June 30, 2024, sales grew 6.4% to $35.5 million.
The company maintained a strong cash position of $21.5 million as of June 30, 2024. Gross profit for H1 2024 increased 4.0% to $11.1 million, though margin decreased to 31.2% from 31.9%. The company reported a net loss of $1.5 million for H1 2024, compared to $1.4 million in H1 2023.
The company's growth was attributed to higher spending from existing clients and new customer acquisition, supported by the T R Miller assets acquisition in June 2023. Stran also acquired strategic assets from Gander Group to enhance technology and product offerings.
Stran & Company (NASDAQ: SWAG) has reported preliminary unaudited results showing strong revenue growth for Q4 and full year 2024. The company expects Q4 2024 revenue of approximately $27 million, representing a 17.8% increase from Q4 2023's expected $23 million. Full-year 2024 revenue is projected at $83 million, up 9.3% from $76 million in 2023.
The company maintained a strong financial position with approximately $18 million in cash equivalents and investments, with no long-term debt as of December 31, 2024. The growth reflects successful expansion strategies, including the integration of Gander Group™ assets, which has enhanced capabilities in the gaming, casino, and entertainment sectors.
Stran & Company (NASDAQ: SWAG) has completed restating financial results for 2022 and 2023. The company reported significant growth with sales increasing 31.3% to $76.0 million in 2023, up from $57.9 million in 2022. Gross profit saw a 61.5% increase to $24.9 million (32.7% margin) in 2023, compared to $15.4 million (26.6% margin) in 2022.
The company reduced its net loss to $0.4 million in 2023 from $3.5 million in 2022. Growth was driven by higher spending from existing clients, new customers, and contributions from acquisitions including G.A.P. Promotions, Trend Brand Solutions, Premier NYC, and T R Miller, which accounted for $15.1 million (19.9%) of 2023 sales. In November 2024, Stran acquired Gander Group to strengthen its casino continuity and loyalty sector presence.
Stran & Company (NASDAQ: SWAG) has reported preliminary unaudited results for the nine months ended September 30, 2024. The company projects a 7.8% revenue increase to $57 million compared to the same period in 2023. A key highlight is the completion of the Gander Group™ asset acquisition, a casino loyalty program leader that generated over $34 million in revenue in 2023.
The company maintains a strong financial position with $17 million in cash equivalents and investments with no long-term debt. The cash reduction is attributed to the Gander acquisition, and management confirms no plans to raise additional capital for operations or growth initiatives.
Stran & Company (NASDAQ: SWAG) has received a Staff delisting determination from Nasdaq on December 17, 2024, due to non-compliance with the Filing Rule. The company failed to file its Quarterly Reports on Form 10-Q for March 31, June 30, and September 30, 2024. Despite being granted an exception until December 16, 2024, Stran did not meet compliance requirements.
The delisting determination does not immediately affect trading or result in suspension. Stran can request a hearing before a Hearings Panel, which typically occurs 30-45 days after the request. A hearing request automatically stays the suspension for 15 days, with the possibility of extension through the hearing period. The company intends to request both a hearing and an extended stay.
Stran & Company (NASDAQ: SWAG) has received a notification from Nasdaq due to its failure to file the Q3 2024 Form 10-Q on time. This follows previous delays in filing Q1 and Q2 2024 reports. Nasdaq had granted an exception until December 16, 2024 for the previous delinquent filings. The company must submit an updated compliance plan by December 6, 2024. While the notification doesn't immediately affect SWAG's Nasdaq listing, there's no guarantee the company will regain or maintain compliance with listing requirements.
Stran & Company (NASDAQ: SWAG) has secured multiple six-figure agreements expected to generate over $2 million in annual sales with three major customers. The contracts include partnerships with: a national rental communities developer, a molecular diagnostics company focusing on cancer solutions, and a global public transportation services provider.
The company was selected for its advanced technology platform, extensive product offerings, warehousing capabilities, and creative expertise in promotional merchandise branding services. These agreements highlight Stran's position as a trusted marketing solutions provider.
Stran & Company (NASDAQ: SWAG) has received a notification from Nasdaq regarding its failure to file the Q2 2024 10-Q report on time. This non-compliance stems from the dismissal of BF Borgers CPA PC as the company's independent auditor on May 13, 2024, following an SEC order barring the firm from practicing before the SEC. Stran needs additional time to assess the impact of this situation on its previous financial statements.
Nasdaq has granted Stran until December 16, 2024, to file its delinquent Q1 2024 10-Q. The company must submit an updated compliance plan to Nasdaq by September 24, 2024. While this notification doesn't immediately affect Stran's listing on the Nasdaq Capital Market, the company is working to file the Q2 2024 10-Q as soon as possible to regain compliance.
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