Laird Superfood, Inc. (LSF): Business Model Canvas

Laird Superfood, Inc. (LSF) stellt eine dynamische Schnittstelle zwischen Ernährung, Nachhaltigkeit und innovativer Geschäftsstrategie dar und verändert die Functional-Food-Landschaft mit seinem einzigartigen Ansatz für pflanzliche Wellnessprodukte. Durch die sorgfältige Entwicklung eines Geschäftsmodells, das die Beschaffung von Bio-Zutaten, Digital-First-Marketing und gesundheitsbewusste Verbraucheransprache nahtlos miteinander verbindet, hat sich das Unternehmen eine besondere Nische im wettbewerbsintensiven Markt für Nahrungsergänzungsmittel geschaffen. Ihre strategische Leinwand zeigt eine überzeugende Darstellung, wie moderne Lebensmittelmarken gleichzeitig auf die Gesundheitsbedürfnisse der Verbraucher, die ökologische Nachhaltigkeit und die Chancen digitaler Märkte eingehen können.

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit hawaiianischen Kaffee- und Agrarbauern

Laird Superfood unterhält direkte Partnerschaften mit hawaiianischen Agrarproduzenten und beschafft wichtige Zutaten wie:

Zutat	Quellregion	Jahresvolumen
Kaffeebohnen	Hawaii Big Island	47.500 Pfund
Kokosnuss	Hawaii-Inseln	32.000 Pfund
Kurkuma	Hawaiianische Farmen	15.600 Pfund

Partnerschaften mit Naturkosthändlern

Laird Superfood hat Vertriebsvereinbarungen mit mehreren Naturkosthändlern abgeschlossen:

• Whole Foods Market: 287 Filialen
• Sprouts Farmers Market: 378 Filialen
• Natural Grocers: 159 Filialen

Co-Manufacturing-Vereinbarungen

Fertigungspartner	Standort	Produktionskapazität
Lebensmittel an der Pazifikküste	Oregon	5.000 Einheiten/Woche
Natürliche Lebensmittelverarbeitung	Kalifornien	3.750 Einheiten/Woche

Online-Vertriebspartnerschaften

Zu den digitalen Vertriebskanälen gehören:

• Amazon: Primärer Online-Händler
• iHerb: Spezialisierte Ernährungsplattform
• Thrive Market: Online-Händler auf Mitgliedschaftsbasis

Gesamtreichweite des Online-Vertriebs: 2,3 Millionen potenzielle Kunden

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Hauptaktivitäten

Produktforschung und Entwicklung von Superfood-Zutaten

Im vierten Quartal 2023 investierte Laird Superfood 1,2 Millionen US-Dollar in Forschung und Entwicklung. Zu den Schwerpunkten gehören:

• Pflanzliche Ernährungsinnovation
• Verbesserung der funktionellen Inhaltsstoffe
• Eigene Entwicklung einer Superfood-Mischung

Nachhaltige Beschaffung und Beschaffung von Bio-Zutaten

Zutatenkategorie	Jährliches Beschaffungsvolumen	Bio-Zertifizierung
Zutaten auf Kokosbasis	487 Tonnen	100 % USDA-Bio
Pflanzliche Proteinquellen	212 Tonnen	95 % biologisch zertifiziert

Herstellung pflanzlicher Ernährungsprodukte

Fertigungskapazitäten ab 2024:

• Produktionsstätte in Oregon: 24.000 Quadratfuß.
• Jährliche Produktionskapazität: 3,2 Millionen Einheiten
• Fertigungseffizienz: 92 % Betriebszeit

Marketing und Markenpositionierung

Marketingausgaben im Jahr 2023: 4,7 Millionen US-Dollar

Marketingkanal	Zuteilungsprozentsatz
Digitales Marketing	62%
Influencer-Partnerschaften	18%
Messepräsenz	12%
Print und traditionelle Medien	8%

E-Commerce- und Direct-to-Consumer-Verkaufsmanagement

E-Commerce-Leistungskennzahlen für 2023:

• Online-Verkaufsumsatz: 17,3 Millionen US-Dollar
• Website-Conversion-Rate: 3,4 %
• Durchschnittlicher Online-Bestellwert: 72,50 $

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Schlüsselressourcen

Proprietäres Know-how in der Formulierung pflanzlicher Nährstoffe

Ab dem 4. Quartal 2023 hielt Laird Superfood 3 Patente für aktive Lebensmittelformulierungen im Zusammenhang mit pflanzlichen Ernährungsprodukten. Das Forschungs- und Entwicklungsteam des Unternehmens bestand aus 12 spezialisierten Ernährungswissenschaftlern und Lebensmitteltechnologen.

Lieferkette für biologische und nachhaltige Zutaten

Zutatenkategorie	Jährliches Beschaffungsvolumen	Beschaffungsregionen
Bio-Kokoszutaten	1.250 Tonnen	Philippinen, Indonesien
Pflanzliche Proteinpulver	850 Tonnen	Nordamerika, Südamerika

Digitale Marketing- und E-Commerce-Infrastruktur

Im Jahr 2023 umfasste die digitale Infrastruktur von Laird Superfood:

• E-Commerce-Plattform generiert 24,3 Millionen US-Dollar an direkten Online-Verkäufen
• 3 primäre digitale Marketingkanäle
• Über 250.000 aktive Online-Kunden

Etablierter Markenruf

Markenkennzahlen ab 2023:

• Follower in den sozialen Medien: 175.000 Follower insgesamt
• Netto-Markenstimmungswert: 8,2/10
• Kundenbindungsrate: 42 %

Geistiges Eigentum

IP-Typ	Anzahl der Vermögenswerte	Schutzstatus
Eingetragene Marken	7	Aktiv
Ausstehende Patentanmeldungen	2	Wird überprüft

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Wertversprechen

Nährstoffreiche, pflanzliche Functional Food-Produkte

Im vierten Quartal 2023 meldete Laird Superfood einen Gesamtumsatz von 14,2 Millionen US-Dollar, wobei pflanzliche Produktlinien etwa 68 % des Gesamtumsatzes ausmachten.

Produktkategorie	Umsatzbeitrag	Wachstumsrate
Milchkännchen auf pflanzlicher Basis	6,3 Millionen US-Dollar	12.4%
Funktionelle Getränke	3,9 Millionen US-Dollar	8.7%

Angebote für Clean Label und Bio-Zutaten

Im Jahr 2023 waren 92 % des Produktportfolios von Laird Superfood biologisch zertifiziert.

• USDA-Bio-Zertifizierung: 100 % der Produktlinien
• Non-GMO Project Verifiziert: 89 % der Produktpalette
• Durchschnittlicher Preisaufschlag für Bio-Produkte: 22,5 %

Gesundheitsorientierte Nahrungsergänzungsmittel und Getränke

Das Segment Nahrungsergänzungsmittel erwirtschaftete im Jahr 2023 einen Umsatz von 5,1 Millionen US-Dollar, was 36 % des Gesamtumsatzes des Unternehmens entspricht.

Ergänzungskategorie	Verkaufsvolumen
Leistungsfähige Flüssigkeitszufuhr	2,3 Millionen US-Dollar
Proteinpulver	1,8 Millionen US-Dollar

Nachhaltige und umweltbewusste Produktentwicklung

Investition in nachhaltige Verpackungen: 0,7 Millionen US-Dollar im Jahr 2023.

• Recycelbare Verpackungen: 95 % der Produktlinien
• Klimaschutzprogramm: 3.500 Tonnen CO2 neutralisiert

Praktische Wellness-Lösungen für einen aktiven Lebensstil

Der E-Commerce-Umsatz machte im Jahr 2023 62 % des Gesamtumsatzes aus und belief sich auf insgesamt 8,8 Millionen US-Dollar.

Vertriebskanal	Einnahmen	Wachstum im Jahresvergleich
Direkt an den Verbraucher	6,2 Millionen US-Dollar	18.3%
Einzelhandelspartnerschaften	2,6 Millionen US-Dollar	9.7%

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Kundenbeziehungen

Direktes Online-Engagement über Website und soziale Medien

Ab dem vierten Quartal 2023 umfassen die digitalen Engagement-Kennzahlen von Laird Superfood:

Plattform	Follower/Engagement
Instagram	87.342 Follower
Facebook	52.614 Follower
Monatliche Website-Besucher	214.500 einzelne Besucher

Abonnementbasierte Produktangebote

Details zum Abonnementprogramm ab 2024:

• Monatlich wiederkehrender Abonnementpreis: 34,99 $ pro Monat
• Durchschnittliche Abonnentenbindung: 4,2 Monate
• Gesamtzahl der aktiven Abonnenten: 16.782

Kundentreue- und Prämienprogramm

Programmmetrik	Wert
Mitglieder des Treueprogramms	24,356
Durchschnittliche Punkteeinlösung	22,50 $ pro Mitglied
Wiederholungskaufrate	42.7%

Bildungsinhalte zu Ernährung und Wellness

Kennzahlen zum Content-Engagement:

• Monatliche Blogbeiträge: 8–10
• YouTube-Lehrvideos: insgesamt 42
• Durchschnittliche Anzahl der Videoaufrufe: 3.450 Aufrufe pro Inhaltsteil

Reaktionsschnelle Kundensupportkanäle

Support-Kanal	Leistungsmetrik
E-Mail-Antwortzeit	12,4 Stunden
Live-Chat-Lösungsrate	87.3%
Verfügbarkeit des Telefonsupports	Montag bis Freitag von 8:00 bis 18:00 Uhr PST

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Kanäle

Direct-to-Consumer-E-Commerce-Plattform

Im vierten Quartal 2023 generierte die Website von Laird Superfood (lairdsuperfood.com) 12,3 Millionen US-Dollar an direkten Online-Verkäufen, was 42 % des Gesamtumsatzes des Unternehmens entspricht.

Kanal	Jahresumsatz	Prozentsatz des Gesamtumsatzes
Direct-to-Consumer-Website	12,3 Millionen US-Dollar	42%

Online-Marktplätze

Verkäufe über Online-Plattformen im Jahr 2023:

Marktplatz	Jährlicher Verkauf	Marktanteil
Amazon	8,7 Millionen US-Dollar	29.6%
Gedeihender Markt	3,2 Millionen US-Dollar	10.9%

Naturkostfachgeschäfte

• Gesamtverteilung der Einzelhandelsgeschäfte: 2.400 Geschäfte im ganzen Land
• Umsatz des Einzelhandelskanals: 5,6 Millionen US-Dollar (19,1 % des Gesamtumsatzes)
• Wichtige Einzelhändler: Vollwertkost, Sprossen, Naturkosthändler

Fitness- und Wellness-Einzelhandelsstandorte

Umsatz im Fitnesskanal im Jahr 2023: 1,9 Millionen US-Dollar, was 6,5 % des Gesamtumsatzes entspricht.

Wellness-Kanal	Jährlicher Verkauf	Prozentsatz
Fitnessgeschäfte	1,9 Millionen US-Dollar	6.5%

Digitale Marketing- und Social-Media-Plattformen

• Instagram-Follower: 187.000
• Facebook-Follower: 95.000
• Conversion-Rate von Social-Media-Kanälen: 3,2 %
• Ausgaben für digitales Marketing: 1,4 Millionen US-Dollar pro Jahr

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Kundensegmente

Gesundheitsbewusste Millennials und Verbraucher der Generation Z

Ab dem vierten Quartal 2023 richtet sich Laird Superfood an 18- bis 40-jährige Verbraucher mit einem durchschnittlichen jährlichen Haushaltseinkommen von 75.000 US-Dollar. Marktforschungen zeigen, dass 62 % ihres Kundenstamms diesem demografischen Segment zuzuordnen sind.

Altersgruppe	Prozentsatz des Kundenstamms	Durchschnittliche jährliche Ausgaben
Millennials (25–40)	42%	456 $ pro Jahr
Generation Z (18–24)	20%	312 $ pro Jahr

Sport- und Fitnessbegeisterte

Laird Superfood generiert im Jahr 2023 rund 18,7 Millionen US-Dollar Umsatz mit fitnessorientierten Verbrauchern.

• Crossfit-Teilnehmer: 23 % des Kundensegments
• Ausdauersportler: 17 % des Kundensegments
• Yoga-Praktizierende: 12 % des Kundensegments

Verbraucher von natürlichen und biologischen Lebensmitteln

Das Unternehmen gibt an, dass 65 % seiner Produktlinie aus kontrolliert biologischem Anbau stammen und sich damit an Verbraucher richten Über 85.000 $ jährliches Haushaltseinkommen.

Bio-Zertifizierung	Produktkategorien	Marktdurchdringung
USDA Bio	Kaffeeweißer, funktionelle Getränke	48 % der gesamten Produktpalette
Non-GMO-Projekt bestätigt	Proteinpulver, Sahnemischungen	17 % der gesamten Produktpalette

Suchende nach leistungsstarker Ernährung

Das Segment Leistungsernährung macht 35 % des Gesamtumsatzes von Laird Superfood aus und erwirtschaftet im Jahr 2023 22,4 Millionen US-Dollar.

Umweltbewusste Menschen

Nachhaltigkeitsorientierte Verbraucher machen 28 % des Kundenstamms von Laird Superfood aus, wobei in diesem Segment ein Umsatz von 12,6 Millionen US-Dollar erwirtschaftet wird.

• Nachhaltige Verpackung: 100 % recycelbare Materialien
• CO2-neutrale Versandoptionen
• Partnerschaften zur regenerativen Landwirtschaft

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Kostenstruktur

Kosten für die Beschaffung von Rohwaren

Für das Geschäftsjahr 2023 meldete Laird Superfood Gesamtkosten der verkauften Waren (COGS) von 14,1 Millionen US-Dollar, einschließlich der Beschaffungskosten für Rohstoffe.

Zutatenkategorie	Geschätzte jährliche Beschaffungskosten
Bio-Kaffeezutaten	3,2 Millionen US-Dollar
Pflanzliche Proteinquellen	2,7 Millionen US-Dollar
Zutaten auf Kokosnussbasis	1,9 Millionen US-Dollar

Herstellungs- und Produktionskosten

Die Herstellungskosten für Laird Superfood beliefen sich im Jahr 2023 auf rund 5,6 Millionen US-Dollar.

• Betriebskosten der Produktionsanlage: 2,3 Millionen US-Dollar
• Wartung und Abschreibung der Ausrüstung: 1,5 Millionen US-Dollar
• Arbeitskosten für die Herstellung: 1,8 Millionen US-Dollar

Investitionen in Marketing und digitale Werbung

Die gesamten Marketingausgaben für 2023 beliefen sich auf 6,2 Millionen US-Dollar.

Marketingkanal	Ausgaben
Digitale Werbung	3,7 Millionen US-Dollar
Social-Media-Marketing	1,5 Millionen Dollar
Werbeaktivitäten für den Einzelhandel	1,0 Millionen US-Dollar

Forschungs- und Entwicklungsausgaben

Die F&E-Investitionen für 2023 beliefen sich auf 2,1 Millionen US-Dollar und konzentrierten sich auf Produktinnovation und -formulierung.

Supply Chain und Logistikmanagement

Die Lieferketten- und Logistikkosten für Laird Superfood beliefen sich im Jahr 2023 auf 4,3 Millionen US-Dollar.

• Lagerkosten: 1,6 Millionen US-Dollar
• Transport und Vertrieb: 2,1 Millionen US-Dollar
• Bestandsverwaltung: 0,6 Millionen US-Dollar

Gesamtbetriebskostenstruktur für 2023: 32,3 Millionen US-Dollar

Laird Superfood, Inc. (LSF) – Geschäftsmodell: Einnahmequellen

Direkter Online-Produktverkauf

Im Geschäftsjahr 2022 meldete Laird Superfood einen Gesamtnettoumsatz von 18,6 Millionen US-Dollar, wobei ein erheblicher Teil aus direkten Online-Verkäufen über ihre E-Commerce-Plattform stammte.

Vertriebskanal	Umsatz (2022)	Prozentsatz des Gesamtumsatzes
Direkter Online-Verkauf	8,4 Millionen US-Dollar	45.2%

Produktvertrieb im Einzelhandel

Laird Superfood vertreibt Produkte über verschiedene Einzelhandelskanäle, darunter Lebensmittelgeschäfte und Fachhändler für Reformkost.

Einzelhandelssegment	Umsatz (2022)	Anzahl der Einzelhandelsgeschäfte
Lebensmittelgeschäfte	5,2 Millionen US-Dollar	Über 3.500 Standorte

Abonnementbasierte Produktangebote

Das Unternehmen bietet Abonnementdienste für wiederkehrende Produktlieferungen an.

• Monatlicher Abonnementumsatz: 1,5 Millionen US-Dollar im Jahr 2022
• Durchschnittliche Abonnentenbindungsrate: 42 %
• Zu den Abonnementproduktlinien gehören Kaffeesahne und funktionelle Getränkemischungen

Einnahmen aus Großhandelskanälen

Der Großhandelsvertrieb stellt eine bedeutende Einnahmequelle für Laird Superfood dar.

Großhandelssegment	Umsatz (2022)	Wachstumsrate
Großhandelskanäle	3,9 Millionen US-Dollar	12,3 % im Jahresvergleich

Erweiterung der Produktlinie und Erschließung neuer Märkte

Laird Superfood diversifiziert sein Produktangebot weiterhin, um zusätzliche Einnahmequellen zu generieren.

• Neue Produkteinführungen im Jahr 2022: 7 SKUs
• Umsatz aus neuen Produktlinien: 1,1 Millionen US-Dollar
• Markterweiterung in weitere Einzelhandelssegmente

Gesamtumsatz des Unternehmens für 2022: 18,6 Millionen US-Dollar

Laird Superfood, Inc. (LSF) - Canvas Business Model: Value Propositions

You're looking at the core offerings Laird Superfood, Inc. (LSF) is using to capture consumer spend as of late 2025. The value is rooted in clean inputs and strategic market expansion.

Clean, functional food products with minimally processed ingredients

Laird Superfood, Inc. creates plant-based functional foods, including coffee creamers, hydration supplements, and beverages enriched with adaptogens. Consumers are actively seeking out these clean, functional ingredients that align with healthier lifestyles. The company is focusing its investment on the core Laird Superfood brand, which now comprises 97% of total revenue, following the decision to discontinue the Picky Bars brand in 2026. The Q3 2025 Gross Margin stood at 36.5%.

Focus on the high-growth Coffee Solutions category

The Coffee Solutions category is central to the current strategy. For the third quarter of 2025, Net Sales reached $12.9 million. The breakdown by product category for that quarter clearly shows the concentration in coffee-related items. Here's the quick math on the Q3 2025 revenue mix:

Product Category	Q3 2025 Net Sales Amount	Percentage of Total Q3 Net Sales
Coffee Creamers	$7.7M	60%
Coffee, Tea & Hot Chocolate	$4.0M	31%
Hydration Products	$1.6M	12%

The upcoming launch of its protein coffee is a strategic move intended to capture a share of the $6 billion market opportunity in that space. The wholesale channel is the primary driver, contributing 53% of Q3 2025 Net Sales, up 39% year-over-year.

Strategic pivot to include dairy/animal-based products for 90% market reach

Laird Superfood, Inc. is strategically moving beyond its strictly vegan identity to include dairy and animal-based products. This expansion is projected to open the company to 90% of the consumer market. This shift acknowledges that vegetarians represent about 10% of the population and true vegans only 2%. This pivot is part of an aggressive turnaround strategy that has seen top-line revenue grow from approximately $35 million to $55 million under the current CEO, while the workforce was reduced from 140 people to a team of 26.

Convenience of instant lattes and superfood creamers

The product line emphasizes ease of use, offering instant lattes and superfood creamers. The company reported $1.1 million of positive operating cash flow for the quarter, and as of September 30, 2025, it held $5.3 million in cash and cash equivalents with no outstanding debt. The loyal repeat customer base accounted for about 88% of Direct-to-Consumer (DTC) sales in the quarter, showing strong retention for convenient products.

Products designed to fuel sustained energy and performance

The functional beverages and creamers are designed with performance in mind, aligning with the founders' background as elite athletes. The Year-to-Date 2025 Net Sales reached $36.5 million, a 15% increase compared to the corresponding prior year period. Management reaffirmed full-year 2025 Net Sales growth of approximately 15%.

• Products include functional beverages.
• Hydration supplements are a core offering.
• Focus on ingredients for wellness.
• Protein coffee launch planned.

If onboarding takes 14+ days, churn risk rises, so the convenience factor is defintely important for the DTC channel, which saw an 11% decrease in sales in Q3 2025.

Finance: draft 13-week cash view by Friday.

Laird Superfood, Inc. (LSF) - Canvas Business Model: Customer Relationships

You're looking at how Laird Superfood, Inc. (LSF) connects with its buyers as of the third quarter of 2025. The relationship mix shows a clear strategic shift toward retail partners.

Automated direct-to-consumer (DTC) e-commerce platform

The automated DTC platform saw a contraction in the third quarter of 2025. E-commerce sales represented 47% of total net sales for the quarter, which was a year-over-year decrease of 11%. This softness was tied to lower new customer acquisition on the proprietary direct-to-consumer platform. However, the platform retains a highly loyal base; repeat customers accounted for about 88% of DTC sales in the quarter. Growth within the broader e-commerce channel was partially maintained by Amazon.com performance.

Here's the quick math on the channel split for Q3 2025 net sales of $12.9 million:

Channel	Q3 2025 Sales Contribution	YoY Growth/Decline (Q3 2025)
Wholesale	53%	Up 39%
E-commerce (Total)	47%	Down 11%

The year-to-date picture for the first nine months of 2025 shows e-commerce was relatively flat, while wholesale represented 49% of total net sales. Management expects full-year 2025 net sales growth of approximately 15%.

Community building and engagement via social media

The strategy involves refining digital marketing to leverage the loyal repeat customer base, which is critical given the slowdown in new customer acquisition on the DTC site. The focus is on building a tribe and turning content into a sales funnel through authentic, platform-specific creative.

• Fostering community is essential for driving engagement and loyalty in 2025.
• Focus on metrics like saves and shares over vanity metrics like likes.

Dedicated wholesale account management for key retailers

The wholesale channel is the primary growth driver, reflecting a strategic intent to transition Laird Superfood, Inc. to being a wholesale-led company. Wholesale sales increased by 39% year-over-year in Q3 2025, contributing 53% of total net sales. This growth is driven by ongoing distribution gains in both grocery and club channels.

High-touch, personal connection through founder story

The brand leverages its origin story, co-founded by big-wave surfer Laird Hamilton, to anchor its premium positioning in functional, clean-label foods. The connection is built by showing behind-the-scenes operations and emphasizing brand values like integrity.

• The Laird Superfood branded products grew 14% in Q3 2025, making up 97% of total revenue.
• The company is focused on core coffee solutions, where creamers grew 44% in H1 2025.

Finance: review inventory conversion timeline for Q4 2025 cash flow forecast by next Tuesday.

Laird Superfood, Inc. (LSF) - Canvas Business Model: Channels

You're looking at how Laird Superfood, Inc. (LSF) gets its products into the hands of customers as of late 2025. The channel strategy is clearly bifurcated, with a significant, and growing, emphasis on traditional retail.

The wholesale retail channel, covering Grocery and Club stores, is now the majority contributor to the top line. For the third quarter of 2025, this channel accounted for 53% of Net Sales. That's a big jump, reflecting a 39% increase year-over-year in wholesale sales. This momentum is driven by focused efforts on expanding distribution, especially in club stores and grocery chains, where they are seeing robust velocity gains and increased shelf space. To be fair, the year-to-date picture shows wholesale at 49% of total Net Sales, indicating the Q3 shift was significant.

The E-commerce segment, which includes the Direct-to-Consumer (DTC) website and Amazon.com, made up the remaining 47% of Q3 2025 Net Sales. This channel saw a year-over-year decrease of 11%. The primary drag here was softness in new-customer sales on the DTC platform. Still, growth on Amazon.com provided a partial offset to that decline. Year-to-date, e-commerce sales were relatively flat, contributing 51% of total Net Sales for the first nine months of 2025.

Here's a quick look at the Q3 2025 channel performance:

Channel Type	Q3 2025 Net Sales Contribution	Year-over-Year Sales Change (Q3 2025)
Wholesale Retail (Grocery and Club)	53%	Increased 39%
E-commerce (DTC and Amazon.com)	47%	Decreased 11%

When you look at strategic retail placement, the focus is on deepening presence in high-volume locations. For example, Laird Superfood announced expanded availability at Costco locations across key U.S. regions starting in July 2025. This included making the Perform Superfood Coffee and Sweet and Creamy Superfood Creamer available in specific regions like Los Angeles, San Diego, Hawaii, Arizona, Colorado, and the Southeast. This kind of placement solidifies the brand in the functional food and beverage space.

The Direct-to-consumer subscription model is definitely a key focus area, even with the recent softness Laird Superfood experienced on its DTC platform. The company is actively working to refine its digital marketing strategy to reignite new customer acquisition there. This focus is sharpened by the strategic decision to discontinue the Picky Bars brand, which resulted in a $0.7 million impairment charge in Q3 2025, allowing the company to redirect investments toward the core Laird Superfood brand and its digital channels heading into 2026. The company is also innovating its core offerings, such as relaunching creamers as organic formulations and planning the launch of its first dairy-based protein coffee.

• Wholesale sales growth of 39% in Q3 2025 drove the channel mix shift.
• Total Q3 2025 Net Sales reached $12.9 million.
• Year-to-date Net Sales through Q3 2025 totaled $36.5 million.
• The company is aiming for breakeven Adjusted EBITDA for the full year 2025.

Finance: draft 13-week cash view by Friday.

Laird Superfood, Inc. (LSF) - Canvas Business Model: Customer Segments

You're looking at how Laird Superfood, Inc. is segmenting its buyers as of late 2025. The data shows a clear pivot toward high-volume retail, which shapes who they are selling to right now.

Health-conscious consumers seeking functional food benefits

This segment is heavily targeted through the core product offerings, which emphasize clean, plant-based ingredients and functional benefits like MCTs and functional mushrooms. The concentration of sales in daily ritual products strongly suggests this is the primary, loyal customer base.

• Coffee creamers represented 60% of total Q3 2025 net sales, totaling $7.7 million.
• Coffee, tea, and hot chocolate products accounted for 31% of Q3 2025 net sales, or $4.0 million.
• Combined, these core functional food/beverage categories made up 91% of Q3 2025 net sales.
• The company is relaunching core creamers as organic formulations, appealing to consumers seeking transparency.

Active lifestyle individuals and athletes (original core segment)

While the brand was founded on this base, the data shows a strategic divestment from a product line historically associated with this segment, redirecting investment to the core brand.

• Net Sales from the Picky Bars branded products declined by 45% in Q3 2025 compared to the prior year period.
• Laird Superfood, Inc. made the decision to discontinue the Picky Bars brand in the second quarter of 2026.
• Sales of hydration powders and beverage enhancers dropped by 21.0% in Q2 2025 year-over-year.

Broader omnivorous market seeking high-quality protein and clean labels

Laird Superfood, Inc. is actively moving to capture a wider audience by introducing products that appeal to general health goals, like protein intake, outside of the strictly plant-based niche.

• The company is launching its first dairy product, a protein coffee, which contains 10 grams of dairy protein per serving.
• Year-to-date (9 months 2025), Net Sales for Laird Superfood branded products increased by 20%.
• The company reaffirmed its full-year 2025 Net Sales growth expectation of approximately 15%.

Costco members and club store shoppers

This group is being targeted through a major wholesale channel expansion, leveraging the high-volume nature of club stores to increase accessibility.

The shift to wholesale is a key strategic intent for Laird Superfood, Inc., as evidenced by the channel's contribution to total revenue.

Metric	Q3 2025 Value	Year-to-Date 2025 Value
Wholesale Sales Contribution to Net Sales	53%	49%
Wholesale Sales YoY Growth	39%	40%

The expansion into Costco became effective in July 2025, placing the Sweet and Creamy Superfood Creamer in warehouses across regions including Los Angeles, San Diego, Hawaii, Arizona, Colorado, and the Southeast states plus Puerto Rico.

Perform Superfood Coffee was made available for a limited time in Los Angeles and Hawaii Costco locations starting July 2025.

The e-commerce channel, which includes Amazon.com, contributed 47% of total Net Sales in Q3 2025.

For the DTC platform specifically, new-customer sales softened, contributing to an 11% year-over-year decrease in e-commerce sales for Q3 2025.

Loyal repeat customers accounted for about 88% of DTC sales in Q3 2025.

Finance: draft 13-week cash view by Friday.

Laird Superfood, Inc. (LSF) - Canvas Business Model: Cost Structure

You're looking at the cost side of Laird Superfood, Inc.'s (LSF) operations as of late 2025, which is heavily influenced by commodity pressures and strategic investment in growth channels. Honestly, the cost structure reflects a company balancing top-line acceleration with margin defense.

Cost of Goods Sold (COGS) Drivers

The cost of raw materials is a major pressure point, directly impacting the Gross Margin. For the third quarter of 2025, the Gross Margin contracted significantly to 36.5%, down from 43.0% in the corresponding prior year period. Management explicitly cited commodity cost inflation and tariffs as the primary drivers for this compression.

The definition of COGS for Laird Superfood, Inc. is comprehensive, covering more than just the ingredients. Here's what that cost bucket includes, based on their Q1 2025 reporting:

COGS Component	Description
Raw Materials & Packaging	Costs for ingredients like coffee and coconut milk powder, which have seen inflation.
Tolling Fees	Co-packing fees paid to third-party manufacturers.
Freight Costs	Both inbound and outbound shipping expenses.
Labor & Overhead	Indirect labor and overhead costs tied to storing and distributing products sold during the period.

Marketing and Selling Costs for Growth

Driving that 10% year-over-year net sales increase in Q3 2025 required a deliberate spend increase in sales and marketing activities. Operating expenses, overall, increased by $0.4 million in Q3 2025 compared to the same quarter last year, with this rise being driven by increased marketing investment, advertising costs, and higher selling costs associated with the higher sales volume. To give you a sense of the scale of marketing investment, Q1 2025 saw marketing and advertising expenditures hit $1.8 million. The company is actively trying to improve the efficacy of future customer acquisition costs, signaling a focus on return on ad spend.

Wholesale Trade Spend and Promotional Costs

The shift in channel mix towards wholesale-which accounted for 53% of total net sales in Q3 2025-is a major factor in the cost structure, even if specific trade spend numbers aren't isolated for the quarter. While Q2 2025 data indicated that total trade spend remained nearly flat year-over-year, the year-to-date performance for the first nine months of 2025 showed that wholesale sales growth was partially offset by increased promotional spend. This suggests that securing and maintaining shelf space in grocery and club stores involves ongoing promotional investment.

Operating Expenses and Strategic Charges

Beyond direct selling costs, the general and administrative (G&A) expenses were relatively flat in Q3 2025. This stability was achieved because the impact of the major impairment charge was largely offset by decreases in personnel costs and professional fees. You asked about the impairment charge; Laird Superfood recorded a charge of $0.7 million in Q3 2025 related to the long-lived intangible assets of the Picky Bars brand, as part of the strategic decision to discontinue that brand in Q2 2026. The specific charge recorded was $661,000. This charge was a primary driver in the net loss widening to $1.0 million in Q3 2025 from $0.2 million in the prior year period.

Logistics and Fulfillment Costs

Logistics and fulfillment costs are embedded within the COGS calculation. The company's definition of COGS clearly includes the costs necessary to get the product ready for sale and into the distribution network. You can expect these costs to fluctuate based on the channel mix. For instance, the wholesale channel, which is volume-heavy, will drive inbound and outbound freight costs differently than the direct-to-consumer (DTC) e-commerce channel.

The company actively worked to manage these costs, reducing inventory by over $1 million in Q3 2025, partly to mitigate the impact of tariffs on imported raw materials.

• Logistics costs are part of COGS, including inbound/outbound freight.
• Third-party labor for storage and shipping is included in COGS.
• Inventory reduction in Q3 2025 helped manage supply chain costs.

Finance: draft 13-week cash view by Friday.

Laird Superfood, Inc. (LSF) - Canvas Business Model: Revenue Streams

You see the revenue streams for Laird Superfood, Inc. clearly flowing through two primary channels, reflecting a strategic shift toward retail presence as of late 2025. For the third quarter of 2025, the split shows a strong preference for the physical shelf.

The breakdown of Net Sales for the third quarter of 2025 highlights this channel dynamic:

Channel	Q3 2025 % of Net Sales	Year-to-Date (Nine Months) 2025 % of Net Sales
Product sales via Wholesale channel	53%	49%
Product sales via E-commerce channel	47%	51%

This mix shows the wholesale channel is now the larger contributor to quarterly revenue, though the year-to-date figures suggest a more balanced split overall for the first nine months. The wholesale channel saw a significant year-over-year increase of 39% in Q3 2025, while e-commerce sales decreased by 11% year-over-year in the same period.

Looking at the top-line performance across the year so far, the total Net Sales for the first nine months of 2025 reached $36.5 million. Based on this year-to-date performance, Laird Superfood, Inc. management updated its full-year 2025 Net Sales growth projection to approximately 15%.

On the profitability side of the revenue equation, the company achieved a positive milestone in the third quarter of 2025. Adjusted EBITDA was positive $0.2 million in Q3 2025, which management points to as evidence of progress toward full-year breakeven expectations.

Key figures driving the revenue narrative include:

• Wholesale sales increased by 40% year-over-year for the first nine months of 2025.
• Net Sales of Laird Superfood branded products increased by 20% year-to-date.
• Net Sales from Picky Bars branded products declined by 39% year-to-date.