Laird Superfood, Inc. reported a net revenue of $12.9 million for the third quarter of 2025, marking a 10% increase from $11.8 million in the same period last year. For the nine months ending September 30, 2025, total revenue reached $36.5 million, a 15% rise compared to $31.7 million for the same period in 2024. The growth in revenue was primarily driven by a 39% increase in wholesale sales, attributed to distribution expansion, although e-commerce sales saw an 11% decline due to lower new customer acquisition on the direct-to-consumer platform.
Despite the increase in revenue, the company reported a net loss of $975,066 for Q3 2025, a significant increase from a loss of $166,120 in Q3 2024. The nine-month net loss also widened to $1.5 million from $1.4 million year-over-year. The increase in losses was influenced by rising costs of goods sold, which surged by 22% in Q3 2025, driven by commodity cost inflation and the absence of a supplier settlement benefit that had positively impacted the previous year’s results.
Operationally, Laird Superfood has made strategic decisions to enhance its market position, including the planned discontinuation of the Picky Bars brand by the second quarter of 2026. This decision is aimed at reallocating resources to strengthen the Laird Superfood brand. The company recognized impairment charges of $661,103 related to this decision in the third quarter. Additionally, Laird Superfood has increased its inventory to $10 million, up from $6 million at the end of 2024, to meet anticipated demand and mitigate potential supply chain disruptions due to tariffs on imported raw materials.
As of September 30, 2025, Laird Superfood had $5.3 million in cash and cash equivalents, a decrease from $8.5 million at the end of 2024. The company reported a total of 11,049,489 shares outstanding, with an accumulated deficit of $109.6 million. The company continues to focus on expanding its customer base and product lines while managing costs effectively. Looking ahead, Laird Superfood anticipates that existing cash balances and projected cash flow from operations will be sufficient to meet its operational needs for at least the next twelve months, although it may seek additional funding through equity or debt financing in the future.
About Laird Superfood, Inc.
Laird Superfood specializes in creating clean, functional, and sustainability-focused food and beverage products, including coffee creamers, hydration drinks, snacks, and hot beverages. The company targets health-conscious consumers in the U.S. natural and organic market, emphasizing transparency, adaptogens, and plant-based ingredients. Its business model combines e-commerce and wholesale channels, leveraging brand trust, product innovation, and distribution expansion to drive long-term growth and recurring revenue.
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