Laird Superfood, Inc. (LSF): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

Laird Superfood, Inc. (LSF) representa una intersección dinámica de nutrición, sostenibilidad y estrategia comercial innovadora, transformando el panorama alimentario funcional con su enfoque único para los productos de bienestar a base de plantas. Al crear meticulosamente un modelo de negocio que combina perfectamente el abastecimiento de ingredientes orgánicos, el marketing digital primero y la orientación de los consumidores conscientes de la salud, la compañía ha forjado un nicho distintivo en el mercado de suplementos nutricionales competitivos. Su lienzo estratégico revela una narración convincente de cómo las marcas de alimentos modernos pueden abordar simultáneamente las necesidades de salud del consumidor, la sostenibilidad ambiental y las oportunidades de mercado digital.

Laird Superfood, Inc. (LSF) - Modelo de negocios: asociaciones clave

Colaboración estratégica con café hawaiano y agricultores agrícolas

Laird Superfood mantiene asociaciones directas con productores agrícolas hawaianos, obteniendo ingredientes clave como:

Ingrediente	Región fuente	Volumen anual
Granos de café	Isla de Hawái Big	47,500 libras
Coco	Islas hawaianas	32,000 libras
Cúrcuma	Granjas hawaianas	15,600 libras

Asociaciones minoristas de alimentos naturales

Laird Superfood ha establecido acuerdos de distribución con múltiples minoristas de alimentos naturales:

• Whole Foods Market: 287 ubicaciones de las tiendas
• Sprouts Farmers Market: 378 ubicaciones de las tiendas
• Tendros naturales: 159 ubicaciones de tiendas

Acuerdos de fabricación

Socio de fabricación	Ubicación	Capacidad de producción
Alimentos de la costa del Pacífico	Oregón	5,000 unidades/semana
Procesamiento de alimentos naturales	California	3.750 unidades/semana

Asociaciones de distribución en línea

Los canales de ventas digitales incluyen:

• Amazon: minorista principal en línea
• IHERB: plataforma de nutrición especializada
• Mercado de Thrive: minorista en línea basado en membresía

Alcance total de distribución en línea: 2.3 millones de clientes potenciales

Laird Superfood, Inc. (LSF) - Modelo de negocio: actividades clave

Investigación de productos y desarrollo de ingredientes de superalimento

A partir del cuarto trimestre de 2023, Laird Superfood invirtió $ 1.2 millones en investigación y desarrollo. Las áreas de enfoque clave incluyen:

• Innovación nutricional a base de plantas
• Mejora de ingredientes funcionales
• Desarrollo de mezcla de superalimentos de propiedad

Abastecimiento sostenible y adquisición de ingredientes orgánicos

Categoría de ingredientes	Volumen de adquisición anual	Certificación orgánica
Ingredientes a base de coco	487 toneladas métricas	100% USDA orgánico
Fuentes de proteínas vegetales	212 toneladas métricas	95% de certificación orgánica

Fabricación de productos nutricionales a base de plantas

Capacidades de fabricación a partir de 2024:

• Instalación de producción en Oregon: 24,000 pies cuadrados.
• Capacidad de producción anual: 3.2 millones de unidades
• Eficiencia de fabricación: 92% de tiempo de actividad operativo

Marketing y posicionamiento de la marca

Gastos de marketing en 2023: $ 4.7 millones

Canal de marketing	Porcentaje de asignación
Marketing digital	62%
Asociaciones de influencia	18%
Presencia de la feria comercial	12%
Impresión y medios tradicionales	8%

Comercio electrónico y gestión de ventas directas a consumidores

Métricas de rendimiento de comercio electrónico para 2023:

• Ingresos de ventas en línea: $ 17.3 millones
• Tasa de conversión del sitio web: 3.4%
• Valor promedio de pedido en línea: $ 72.50

Laird Superfood, Inc. (LSF) - Modelo de negocio: recursos clave

Experiencia de formulación nutricional basada en plantas

A partir del cuarto trimestre de 2023, Laird Superfood sostuvo 3 patentes activas de formulación de alimentos relacionado con productos nutricionales basados ​​en plantas. El equipo de I + D de la compañía estaba formado por 12 científicos nutricionales especializados y tecnólogos alimentarios.

Cadena de suministro para ingredientes orgánicos y sostenibles

Categoría de ingredientes	Volumen de adquisición anual	Regiones de abastecimiento
Ingredientes de coco orgánicos	1.250 toneladas métricas	Filipinas, Indonesia
Polvos proteicos a base de plantas	850 toneladas métricas	América del Norte, América del Sur

Marketing digital e infraestructura de comercio electrónico

En 2023, la infraestructura digital de Laird Superfood incluyó:

• Plataforma de comercio electrónico que genera $ 24.3 millones en ventas directas en línea
• 3 canales de marketing digital primarios
• Más de 250,000 clientes en línea activos

Reputación de marca establecida

Métricas de marca a partir de 2023:

• A continuación de las redes sociales: 175,000 seguidores combinados
• Puntuación de sentimiento de marca neta: 8.2/10
• Tasa de retención de clientes: 42%

Propiedad intelectual

Tipo de IP	Número de activos	Estado de protección
Marcas registradas	7	Activo
Aplicaciones de patentes pendientes	2	Bajo revisión

Laird Superfood, Inc. (LSF) - Modelo de negocio: propuestas de valor

Productos alimenticios funcionales de origen nutriente, denso en nutrientes

A partir del cuarto trimestre de 2023, Laird Superfood reportó $ 14.2 millones en ingresos totales, con líneas de productos basadas en plantas que contribuyen con aproximadamente el 68% de las ventas totales.

Categoría de productos	Contribución de ingresos	Índice de crecimiento
Cremas a base de plantas	$ 6.3 millones	12.4%
Bebidas funcionales	$ 3.9 millones	8.7%

Etiqueta limpia y ofertas de ingredientes orgánicos

En 2023, el 92% de la cartera de productos de Laird Superfood fue certificada orgánica.

• Certificación orgánica del USDA: 100% de las líneas de productos
• Proyecto no OGM verificado: 89% del rango de productos
• Precio promedio de precio para productos orgánicos: 22.5%

Suplementos y bebidas nutricionales centrados en la salud

El segmento de suplementos nutricionales generó $ 5.1 millones en ingresos durante 2023, lo que representa el 36% de las ventas totales de la compañía.

Categoría de suplemento	Volumen de ventas
Hidratación de rendimiento	$ 2.3 millones
Polvos proteicos	$ 1.8 millones

Desarrollo de productos sostenibles y ambientalmente conscientes

Inversión en envases sostenibles: $ 0.7 millones en 2023.

• Embalaje reciclable: 95% de las líneas de productos
• Programa de compensación de carbono: 3.500 toneladas métricas de CO2 neutralizado

Soluciones de bienestar convenientes para estilos de vida activos

Las ventas de comercio electrónico representaron el 62% de los ingresos totales en 2023, por un total de $ 8.8 millones.

Canal de ventas	Ganancia	Crecimiento año tras año
Directo a consumidor	$ 6.2 millones	18.3%
Asociaciones minoristas	$ 2.6 millones	9.7%

Laird Superfood, Inc. (LSF) - Modelo de negocios: relaciones con los clientes

Compromiso en línea directo a través del sitio web y las redes sociales

A partir del cuarto trimestre de 2023, las métricas de participación digital de Laird Superfood incluyen:

Plataforma	Seguidores/compromiso
Instagram	87,342 seguidores
Facebook	52,614 seguidores
Sitio web Visitantes mensuales	214,500 visitantes únicos

Ofertas de productos basadas en suscripción

Detalles del programa de suscripción a partir de 2024:

• Tasa de suscripción recurrente mensual: $ 34.99 por mes
• Retención promedio de suscriptores: 4.2 meses
• Suscriptores activos totales: 16,782

Programa de lealtad y recompensas del cliente

Métrico de programa	Valor
Miembros del programa de fidelización	24,356
Redención de puntos promedio	$ 22.50 por miembro
Repita la tasa de compra	42.7%

Contenido educativo sobre nutrición y bienestar

Métricas de compromiso de contenido:

• Publicaciones mensuales de blog: 8-10
• Videos educativos de YouTube: 42 Total
• Vista promedio de videos Recuento: 3,450 vistas por pieza de contenido

Canales de atención al cliente receptivos

Canal de soporte	Métrico de rendimiento
Tiempo de respuesta por correo electrónico	12.4 horas
Tasa de resolución de chat en vivo	87.3%
Disponibilidad de soporte telefónico	8 am-6pm PST, de lunes a viernes

Laird Superfood, Inc. (LSF) - Modelo de negocios: canales

Plataforma de comercio electrónico directo al consumidor

A partir del cuarto trimestre de 2023, el sitio web de Laird Superfood (Lairdsuperfood.com) generó $ 12.3 millones en ventas directas en línea, lo que representa el 42% de los ingresos totales de la compañía.

Canal	Ingresos anuales	Porcentaje de ventas totales
Sitio web directo al consumidor	$ 12.3 millones	42%

Mercados en línea

Ventas a través de plataformas en línea en 2023:

Mercado	Venta anual	Cuota de mercado
Amazonas	$ 8.7 millones	29.6%
Mercado	$ 3.2 millones	10.9%

Especialidades tiendas minoristas de alimentos naturales

• Distribución total de tiendas minoristas: 2.400 tiendas en todo el país
• Ingresos del canal minorista: $ 5.6 millones (19.1% de las ventas totales)
• Minoristas clave: alimentos integrales, brotes, supermercados naturales

Ubicaciones minoristas de fitness y bienestar

Ventas de canales de fitness en 2023: $ 1.9 millones, lo que representa el 6.5% de los ingresos totales.

Canal de bienestar	Venta anual	Porcentaje
Tiendas de fitness	$ 1.9 millones	6.5%

Plataformas de marketing digital y redes sociales

• Seguidores de Instagram: 187,000
• Seguidores de Facebook: 95,000
• Tasa de conversión de los canales de redes sociales: 3.2%
• Gasto de marketing digital: $ 1.4 millones anualmente

Laird Superfood, Inc. (LSF) - Modelo de negocio: segmentos de clientes

Millennials conscientes de la salud y consumidores de la Generación Z

A partir del cuarto trimestre de 2023, Laird Superfood se dirige a consumidores de 18 a 40 años con $ 75,000 de ingresos familiares promedio anuales. La investigación de mercado indica que el 62% de su base de clientes cae dentro de este segmento demográfico.

Grupo de edad	Porcentaje de la base de clientes	Gasto anual promedio
Millennials (25-40)	42%	$ 456 por año
Gen Z (18-24)	20%	$ 312 por año

Entusiastas del atletismo y del fitness

Laird Superfood genera aproximadamente $ 18.7 millones de ingresos de los consumidores orientados al estado físico en 2023.

• Participantes de CrossFit: 23% del segmento de clientes
• Atletas de resistencia: 17% del segmento de clientes
• Practicantes de yoga: 12% del segmento de clientes

Consumidores de alimentos naturales y orgánicos

La compañía informa que el 65% de su línea de productos está certificada orgánica, dirigida a los consumidores con $ 85,000+ ingresos familiares anuales.

Certificación orgánica	Categorías de productos	Penetración del mercado
USDA orgánico	Camé de café, bebidas funcionales	48% de la línea total de productos
Proyecto no transgénico verificado	Powders de proteínas, mezclas de crema	17% de la línea total de productos

Buscadores de nutrición de rendimiento

El segmento de nutrición de rendimiento representa el 35% de los ingresos totales de Laird Superfood, generando $ 22.4 millones en 2023.

Individuos ambientalmente conscientes

Los consumidores centrados en la sostenibilidad comprenden el 28% de la base de clientes de Laird Superfood, con $ 12.6 millones de ingresos generados a partir de este segmento.

• Embalaje sostenible: 100% de materiales reciclables
• Opciones de envío neutral en carbono
• Asociaciones de agricultura regenerativa

Laird Superfood, Inc. (LSF) - Modelo de negocio: Estructura de costos

Gastos de adquisición de ingredientes crudos

Para el año fiscal 2023, Laird Superfood informó un costo total de los bienes vendidos (COGS) de $ 14.1 millones, que incluye costos de adquisición de ingredientes crudos.

Categoría de ingredientes	Costo de adquisición anual estimado
Ingredientes de café orgánico	$ 3.2 millones
Fuentes de proteínas a base de plantas	$ 2.7 millones
Ingredientes a base de coco	$ 1.9 millones

Costos de fabricación y producción

Los gastos de fabricación para Laird Superfood en 2023 totalizaron aproximadamente $ 5.6 millones.

• Costos operativos de la instalación de producción: $ 2.3 millones
• Mantenimiento y depreciación del equipo: $ 1.5 millones
• Costos laborales para la fabricación: $ 1.8 millones

Inversiones de marketing y publicidad digital

Los gastos totales de marketing para 2023 fueron de $ 6.2 millones.

Canal de marketing	Gasto
Publicidad digital	$ 3.7 millones
Marketing en redes sociales	$ 1.5 millones
Actividades promocionales minoristas	$ 1.0 millones

Gastos de investigación y desarrollo

Las inversiones en I + D para 2023 fueron de $ 2.1 millones, centrándose en la innovación y la formulación de productos.

Gestión de la cadena de suministro y logística

La cadena de suministro y los costos de logística para Laird Superfood en 2023 ascendieron a $ 4.3 millones.

• Gastos de almacenamiento: $ 1.6 millones
• Transporte y distribución: $ 2.1 millones
• Gestión de inventario: $ 0.6 millones

Estructura de costos operativos totales para 2023: $ 32.3 millones

Laird Superfood, Inc. (LSF) - Modelo de negocios: Fleunas de ingresos

Ventas directas de productos en línea

En el año fiscal 2022, Laird Superfood reportó ventas netas totales de $ 18.6 millones, con una porción significativa derivada de las ventas directas en línea a través de su plataforma de comercio electrónico.

Canal de ventas	Ingresos (2022)	Porcentaje de ventas totales
Ventas directas en línea	$ 8.4 millones	45.2%

Distribución de productos de la tienda minorista

Laird Superfood distribuye productos a través de varios canales minoristas, incluidas tiendas de comestibles y minoristas especiales de alimentos saludables.

Segmento minorista	Ingresos (2022)	Número de puntos de venta minoristas
Tiendas de comestibles	$ 5.2 millones	Más de 3.500 ubicaciones

Ofertas de productos basadas en suscripción

La compañía ofrece servicios de suscripción para entregas de productos recurrentes.

• Ingresos de suscripción mensuales: $ 1.5 millones en 2022
• Tasa promedio de retención de suscriptores: 42%
• Las líneas de productos de suscripción incluyen cremas de café y mezclas de bebidas funcionales

Ingresos al por mayor de canales

La distribución al por mayor representa un flujo de ingresos significativo para el superalimento Laird.

Segmento al por mayor	Ingresos (2022)	Índice de crecimiento
Canales al por mayor	$ 3.9 millones	12.3% año tras año

Expansión de la línea de productos y nueva penetración del mercado

Laird Superfood continúa diversificando sus ofertas de productos para generar fuentes de ingresos adicionales.

• Los nuevos lanzamientos de productos en 2022: 7 SKUS
• Ingresos de nuevas líneas de productos: $ 1.1 millones
• Expansión del mercado en segmentos minoristas adicionales

Ingresos totales de la compañía para 2022: $ 18.6 millones

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.