Stran & Company Inc Stock Price, News & Analysis

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.

Stran & Company, Inc. (NASDAQ: SWAG) has acquired strategic assets of Gander Group through a secured party sale. Gander Group, a leader in casino continuity and loyalty programs, generated over $34 million in revenue in 2023. The acquisition, conducted by Stran's newly-formed subsidiary Stran Loyalty Solutions, , aims to strengthen Stran's position in the gaming and entertainment industries.

Key points:

• Stran expects significant cross-selling opportunities and operational efficiencies
• Josh Blake (CEO) and Bruce Batcheller (COO) of Gander Group will join Stran Loyalty Solutions
• Stran projects an annualized revenue run rate exceeding $100 million post-acquisition
• The acquisition is expected to contribute positive cash flow and be accretive for stockholders

Stran & Company (NASDAQ: SWAG) has reported preliminary unaudited results for the first half of 2024, showing strong performance. Revenue is expected to grow by approximately 10% compared to the same period in 2023. The company's gross margin is projected to increase to 31.7%, up from 29.4% in the first half of 2023. Notably, cash, cash equivalents, and investments are expected to rise to $21.5 million as of June 30, 2024, compared to $18.5 million at the end of 2023.

CEO Andy Shape attributes this growth to the company's successful strategy execution, including onboarding new customers, increasing penetration within existing customers, implementing innovative technologies, and expanding nationwide. The strong financial position provides Stran with resources for potential M&A opportunities to complement organic growth.

Stran & Company (NASDAQ: SWAG) reported a preliminary, unaudited 17% year-over-year revenue growth for Q1 2024. Gross margin is projected to increase by over 100 basis points compared to Q1 2023. The company's cash, cash equivalents, and investments are expected to rise to $20.2 million as of March 31, 2024, up from $18.5 million at the end of 2023. CEO Andy Shape attributed the performance to new customer acquisitions and expanded contracts despite a challenging market. Stran also noted the engagement of Marcum LLP as their new independent public accounting firm. Complete financial results will follow upon final audit completion.

On June 24, 2024, Stran & Company (NASDAQ: SWAG) announced it received a notification from Nasdaq regarding non-compliance with the financial report filing requirement. The company has not filed its Quarterly Report on Form 10-Q for the period ended March 31, 2024. Stran has until August 20, 2024, to submit a compliance plan to Nasdaq. If accepted, Stran could have until December 16, 2024, to regain compliance. Otherwise, they can appeal to a Nasdaq Hearings Panel. The delay was due to the dismissal of BF Borgers CPA PC and the subsequent engagement of a new accounting firm, Marcum LLP. Stran intends to file the Form 10-Q by August 20, 2024. Non-compliance does not currently affect the company's Nasdaq listing, but Stran will be listed as non-compliant on Nasdaq's website.

Stran & Company, a leading outsourced marketing solutions provider, has engaged Marcum LLP as its new independent public accounting firm. Marcum is among the top-ranked and largest PCAOB-registered audit and accounting firms in the U.S. Stran's CEO, Andy Shape, expressed confidence in a swift transition to Marcum, enabling the company to resume scheduled financial reporting.

On June 10, 2024, Stran & Company (NASDAQ: SWAG; SWAGW), a leading provider of outsourced marketing solutions, announced the expansion of contracts with multiple high-profile customers. These agreements, each expected to generate six-figure annual revenues, span various sectors including automotive, engineering, and oil and gas. The customers chose Stran for its reputation for quality and reliability. CEO Andy Shape highlighted the company's ability to scale operations and manage international inventory as key factors in securing these contracts. The expanded partnerships aim to enhance brand awareness and operational efficiency.

Stran & Company (NASDAQ: SWAG) has secured six-figure, multi-year agreements with two major industry players: a leading manufacturer of recreational watercrafts and a national pet supply retailer. These agreements demonstrate Stran's ability to provide cost-effective, technologically advanced promotional marketing solutions. Stran's selection was influenced by its strong track record, scalable warehousing, and creative abilities. The company aims to leverage these contracts to drive market awareness, customer loyalty, and sustained organic revenue growth.