Quarterly report [Sections 13 or 15(d)]

Segments

v3.25.0.1
Segments
 9 Months Ended
Sep. 30, 2024
Segments [Abstract]  
SEGMENTS
Q. SEGMENTS:

 

The company has two reportable segments, Stran & Company, Inc. (“Stran”) and Stran Loyalty Solutions (“SLS”). The segment Stran operates as an outsourced marketing solutions provider that sells branded products to customers. It purchases products and branding through various third-party manufacturers and decorators and resells the finished goods to customers. The segment earns the majority of its revenue from the sale of unique, quality promotional products for a wide variety of industries primarily to support marketing efforts. The segment SLS specializes in creating high-quality, branded merchandise for casinos, sourced through various third-party manufacturers, focusing on promotional products that enhance customer loyalty and engagement. It partners with nationally recognized brands to create high-quality, custom products that resonate with casino patrons, helping casinos drive redemption rates and ROI through tailored merchandise and marketing solutions.

As of September 30, 2024, Stran and SLS had total assets of $38,868 and $9,943, respectively. Revenue and costs are directly attributed to the Company’s segments and there is no allocation of revenue and costs between the Company’s two segments.

 

The table below presents information about reported segments for the three and nine months ended September 30, 2024. The Company was one reportable segment for the three and nine months ended September 30, 2023.

 

    For the Three Months Ended
September 30, 2024		     For the Nine Months Ended
September 30, 2024		  
    Stran     SLS     Total     Stran     SLS     Total  
Sales   $ 16,656     $ 3,488     $ 20,144     $ 52,176     $ 3,488     $ 55,664  
Gross profit   $ 5,294     $ 658     $ 5,952     $ 16,374     $ 658     $ 17,032  
Operating loss   $ (2,025 )   $ (159 )   $ (2,184 )   $ (3,802 )   $ (159 )   $ (3,961 )