Continued Retail Expansion and Supply Chain Improvements Drive Positive Adjusted EBITDA and Margin Gains
SISTERS, OR – May 2025 – Laird Superfood, Inc. (NYSE American: LSF), a leader in plant-based superfood products, announced its financial results for the first quarter ended March 31, 2025. The company reported another quarter of robust sales growth, bolstered by strategic retail distribution efforts and operational improvements.
Jason Vieth, Chief Executive Officer of Laird Superfood, expressed confidence in the company’s continued growth trajectory, stating, “I am pleased to report another strong quarter of Net Sales growth for Laird Superfood. This marks our fifth consecutive quarter delivering double-digit year-over-year sales growth, driven by our strategic expansion into brick-and-mortar retail and increased sales through Amazon.”
Vieth acknowledged that the momentum in Q1 2025 comes on the heels of a supply challenge that emerged late last year, saying, “While we faced some out-of-stock issues in Q4 2024 due to higher-than-expected demand for our creamers and lattes, I’m happy to share that we’ve resolved those inventory constraints. Moreover, we’ve taken meaningful steps to build a more agile and responsive supply chain to mitigate such disruptions in the future.”
First Quarter 2025 Financial Highlights
Net Sales Growth:
Laird Superfood reported Net Sales of $11.7 million for the first quarter of 2025, representing an 18% increase from $9.9 million in Q1 2024. This also slightly exceeded the $11.6 million recorded in the fourth quarter of 2024. The sales performance continues to reflect the effectiveness of the company’s dual-channel strategy across e-commerce and wholesale distribution.
E-Commerce Performance:
Online sales, which include direct-to-consumer and Amazon.com purchases, grew by 6% year-over-year and contributed 53% of total Net Sales. The growth was supported by enhanced media efficiency, improved digital marketing execution, and higher customer conversion rates on key platforms. Amazon, in particular, delivered strong performance as Laird Superfood continued to optimize its product listings and promotional strategies.
Wholesale Channel Acceleration:
Wholesale sales surged by 35% year-over-year and accounted for 47% of the company’s Net Sales. This expansion was primarily driven by new distribution wins in grocery and club store channels. While the company did invest more heavily in promotional trade spending to support its retail footprint, the volume growth in these channels outweighed the increased promotional costs.
Improved Gross Margin:
Gross Margin for the first quarter was 41.9%, a notable improvement from 40.0% in Q1 2024 and 38.6% in the previous quarter. Management attributed the margin improvement primarily to better absorption of overhead costs related to inbound freight, which contributed approximately 3.3 percentage points. This was a result of increased inventory purchases made to replenish stock levels after Q4 shortages. The company expects Gross Margin to normalize in the high 30s percentage range for the remainder of 2025, in line with previously issued guidance.
Narrowing Net Loss:
Laird Superfood significantly reduced its Net Loss to $0.2 million, or $0.02 per diluted share, in Q1 2025. This compares to a Net Loss of $1.0 million, or $0.11 per diluted share, in the same period last year, and $0.4 million, or $0.04 per diluted share, in Q4 2024. The improvement reflects both top-line growth and effective cost control in marketing and general and administrative (G&A) expenses.
Positive Adjusted EBITDA:
For the quarter, Laird Superfood achieved positive Adjusted EBITDA of $0.4 million, or $0.03 per diluted share. This marks a turnaround from negative Adjusted EBITDA of ($0.7) million, or ($0.08) per diluted share, in Q1 2024, and is up from $0.2 million, or $0.01 per diluted share, in the fourth quarter of 2024. Adjusted EBITDA excludes certain non-recurring items, stock-based compensation, and other adjustments, and is used by management as a measure of core operational performance.
“This is a strong validation of the leverage we gain as we scale,” said Vieth. “Not only are we growing sales and reaching new customers, but we’re also demonstrating meaningful margin improvement and financial discipline. This quarter is a clear signal that the Laird Superfood turnaround story is gaining traction.”
Operational and Strategic Developments
Supply Chain Resilience:
Following the supply shortfalls experienced at the end of 2024, Laird Superfood has made significant progress in strengthening its operational infrastructure. Investments in supply chain agility and inventory management have created a more resilient network, enabling the company to respond more effectively to spikes in demand and reduce the risk of future stockouts.
Brand and Retail Expansion:
Laird Superfood continues to invest in brand visibility and strategic retail partnerships. The company’s products are increasingly found in both national grocery chains and specialty food retailers. New product placements, endcap displays, and promotional activities have contributed to the wholesale channel’s accelerated growth.
Innovation Pipeline:
While not detailed in the Q1 report, the company hinted at a robust innovation pipeline for the remainder of 2025. Laird Superfood has historically introduced new products across functional beverage and pantry categories, and management expects this trend to continue as the brand strengthens its positioning in the plant-based wellness space.
