Laird SuperFood, Inc. (LSF): Business Model Canvas [Jan-2025 Mis à jour]

Laird SuperFood, Inc. (LSF) représente une intersection dynamique de la nutrition, de la durabilité et de la stratégie commerciale innovante, transformant le paysage alimentaire fonctionnel avec son approche unique des produits de bien-être à base de plantes. En fabriquant méticuleusement un modèle commercial qui mélange de manière transparente l'approvisionnement en ingrédients biologiques, le marketing numérique et le ciblage des consommateurs soucieux de la santé, la société a creusé un créneau distinctif sur le marché compétitif des suppléments nutritionnels. Leur toile stratégique révèle un récit convaincant de la façon dont les marques alimentaires modernes peuvent répondre simultanément aux besoins de santé des consommateurs, à la durabilité environnementale et aux opportunités du marché numérique.

Laird SuperFood, Inc. (LSF) - Modèle commercial: partenariats clés

Collaboration stratégique avec le café hawaïen et les agriculteurs agricoles

Laird Superfood entretient des partenariats directs avec les producteurs agricoles hawaïens, en approvisionnement des ingrédients clés tels que:

Ingrédient	Région source	Volume annuel
Café en grains	Hawaii Big Island	47 500 lbs
Noix de coco	Îles hawaïennes	32 000 livres
Curcuma	Fermes hawaïennes	15 600 lbs

Partenariats des détaillants d'aliments naturels

Laird SuperFood a établi des accords de distribution avec plusieurs détaillants d'aliments naturels:

• Marché des aliments entiers: 287 emplacements de magasins
• Sprouts Farmers Market: 378 lieux de magasin
• Épiciers naturels: 159 lieux de magasin

Accords de co-fabrication

Partenaire de fabrication	Emplacement	Capacité de production
Pacific Coast Foods	Oregon	5 000 unités / semaine
Transformation des aliments naturels	Californie	3 750 unités / semaine

Partenariats de distribution en ligne

Les canaux de vente numériques comprennent:

• Amazon: détaillant en ligne principal
• Iherb: plateforme de nutrition spécialisée
• Market Thrive: détaillant en ligne basé sur les membres

Réalisation totale de distribution en ligne: 2,3 millions de clients potentiels

Laird SuperFood, Inc. (LSF) - Modèle d'entreprise: Activités clés

Recherche de produits et développement d'ingrédients superaliments

Au quatrième trimestre 2023, Laird Superfood a investi 1,2 million de dollars dans la recherche et le développement. Les principaux domaines d'intérêt comprennent:

• Innovation nutritionnelle à base de plantes
• Amélioration des ingrédients fonctionnels
• Développement de mélange de superaliments propriétaires

Approvisionnement durable et ingrédient biologique

Catégorie d'ingrédient	Volume de l'approvisionnement annuel	Certification biologique
Ingrédients à base de noix de coco	487 tonnes métriques	100% USDA bio
Sources de protéines végétales	212 tonnes métriques	95% certifié biologique

Fabrication de produits nutritionnels à base de plantes

Capacités de fabrication à partir de 2024:

• Installation de production en Oregon: 24 000 pieds carrés.
• Capacité de production annuelle: 3,2 millions d'unités
• Efficacité de fabrication: 92% de disponibilité opérationnelle

Marketing et positionnement de la marque

Dépenses de marketing en 2023: 4,7 millions de dollars

Canal de marketing	Pourcentage d'allocation
Marketing numérique	62%
Partenariats d'influence	18%
Présence de salon	12%
Impression et médias traditionnels	8%

E-commerce et gestion des ventes directes aux consommateurs

Mesures de performance du commerce électronique pour 2023:

• Revenus de vente en ligne: 17,3 millions de dollars
• Taux de conversion du site Web: 3,4%
• Valeur de commande en ligne moyenne: 72,50 $

Laird SuperFood, Inc. (LSF) - Modèle d'entreprise: Ressources clés

Expertise de formulation nutritionnelle propriétaire propriétaire

Depuis le quatrième trimestre 2023, Laird Superfood a tenu 3 brevets de formulation de nourriture active liés aux produits nutritionnels à base de plantes. L'équipe de R&D de l'entreprise était composée de 12 scientifiques nutritionnels spécialisés et technologues alimentaires.

Chaîne d'approvisionnement pour les ingrédients biologiques et durables

Catégorie d'ingrédient	Volume de l'approvisionnement annuel	Régions d'approvisionnement
Ingrédients de noix de coco biologique	1 250 tonnes métriques	Philippines, Indonésie
Poudres de protéines à base de plantes	850 tonnes métriques	Amérique du Nord, Amérique du Sud

Infrastructure de marketing numérique et de commerce électronique

En 2023, l'infrastructure numérique de Laird Superfood comprenait:

• Plateforme de commerce électronique générant 24,3 millions de dollars de ventes en ligne directes
• 3 canaux de marketing numérique primaires
• Plus de 250 000 clients en ligne actifs

Réputation de la marque établie

Métriques de la marque à partir de 2023:

• Médias sociaux Suivant: 175 000 abonnés combinés
• Score de sentiment de marque nette: 8.2 / 10
• Taux de rétention de la clientèle: 42%

Propriété intellectuelle

Type IP	Nombre d'actifs	Statut de protection
Marques enregistrées	7	Actif
Demandes de brevet en instance	2	En cours d'examen

Laird SuperFood, Inc. (LSF) - Modèle d'entreprise: propositions de valeur

Produits alimentaires fonctionnels à base de nutriments et à base de plantes

Au quatrième trimestre 2023, Laird Superfood a déclaré 14,2 millions de dollars de revenus totaux, les gammes de produits à base d'usine contribuant environ 68% des ventes totales.

Catégorie de produits	Contribution des revenus	Taux de croissance
Crémières à base de plantes	6,3 millions de dollars	12.4%
Boissons fonctionnelles	3,9 millions de dollars	8.7%

Étiquette propre et offres d'ingrédients biologiques

En 2023, 92% du portefeuille de produits de Laird Superfood était certifié biologique.

• Certification biologique USDA: 100% des gammes de produits
• Projet sans OGM vérifié: 89% de la gamme de produits
• Prime de prix moyen pour les produits biologiques: 22,5%

Suppléments nutritionnels axés sur la santé

Le segment des suppléments nutritionnels a généré 5,1 millions de dollars de revenus au cours de 2023, ce qui représente 36% du total des ventes d'entreprises.

Catégorie de compléments	Volume des ventes
Hydratation de performance	2,3 millions de dollars
Poudres de protéines	1,8 million de dollars

Développement de produits durable et soucieux de l'environnement

Investissement dans l'emballage durable: 0,7 million de dollars en 2023.

• Emballage recyclable: 95% des gammes de produits
• Programme de décalage en carbone: 3 500 tonnes métriques de CO2 neutralisées

Solutions de bien-être pratiques pour les modes de vie actifs

Les ventes de commerce électronique représentaient 62% du total des revenus en 2023, totalisant 8,8 millions de dollars.

Canal de vente	Revenu	Croissance d'une année à l'autre
Direct à consommateur	6,2 millions de dollars	18.3%
Partenariats de vente au détail	2,6 millions de dollars	9.7%

Laird SuperFood, Inc. (LSF) - Modèle d'entreprise: relations avec les clients

Engagement en ligne direct via le site Web et les médias sociaux

Depuis le quatrième trimestre 2023, les mesures d'engagement numérique de Laird Superfood incluent:

Plate-forme	Abonnés / engagement
Instagram	87 342 abonnés
Facebook	52 614 abonnés
Visiteurs mensuels du site Web	214 500 visiteurs uniques

Offres de produits basés sur l'abonnement

Détails du programme d'abonnement à partir de 2024:

• Taux d'abonnement récurrent mensuel: 34,99 $ par mois
• Rétention moyenne des abonnés: 4,2 mois
• Abonnés actifs totaux: 16 782

Programme de fidélité et de récompenses de la clientèle

Métrique du programme	Valeur
Membres du programme de fidélité	24,356
Points moyens rachat	22,50 $ par membre
Taux d'achat répété	42.7%

Contenu éducatif sur la nutrition et le bien-être

Métriques d'engagement du contenu:

• Articles de blog mensuels: 8-10
• Vidéos éducatives YouTube: 42 total
• Nombre moyen de vue vidéo: 3 450 vues par pièce de contenu

Canaux de support client réactifs

Canal de support	Métrique de performance
Temps de réponse par e-mail	12,4 heures
Taux de résolution de chat en direct	87.3%
Disponibilité du support téléphonique	8 h à 18 h PST, du lundi au vendredi

Laird SuperFood, Inc. (LSF) - Modèle d'entreprise: canaux

Plate-forme de commerce électronique directement au consommateur

Au quatrième trimestre 2023, le site Web de Laird SuperFood (LairdsuperFood.com) a généré 12,3 millions de dollars en ventes en ligne directes, représentant 42% du total des revenus de l'entreprise.

Canal	Revenus annuels	Pourcentage des ventes totales
Site Web directement aux consommateurs	12,3 millions de dollars	42%

Marchés en ligne

Ventes via des plateformes en ligne en 2023:

Marché	Ventes annuelles	Part de marché
Amazone	8,7 millions de dollars	29.6%
Marché prospéré	3,2 millions de dollars	10.9%

Magasins de vente au détail d'aliments naturels spécialisés

• Distribution totale des magasins de détail: 2 400 magasins à l'échelle nationale
• Revenus de canal de vente au détail: 5,6 millions de dollars (19,1% du total des ventes)
• Détaillants clés: aliments entiers, germes, épiciers naturels

Emplacements de vente au détail de fitness et de bien-être

Ventes de canaux de fitness en 2023: 1,9 million de dollars, ce qui représente 6,5% des revenus totaux.

Canal de bien-être	Ventes annuelles	Pourcentage
Magasins de fitness	1,9 million de dollars	6.5%

MARKETING DIGULE ET PLADES DE MÉDAISE SOCIAL

• Followers Instagram: 187 000
• Fonds Facebook: 95 000
• Taux de conversion à partir des réseaux sociaux: 3,2%
• Dépenses en marketing numérique: 1,4 million de dollars par an

Laird SuperFood, Inc. (LSF) - Modèle d'entreprise: segments de clientèle

Les milléniaux soucieux de la santé et les consommateurs de la génération Z

Au quatrième trimestre 2023, Laird Superfood cible les consommateurs de 18 à 40 ans avec un revenu annuel moyen de 75 000 $. Les études de marché indiquent que 62% de leur clientèle relève de ce segment démographique.

Groupe d'âge	Pourcentage de clientèle	Dépenses annuelles moyennes
Milléniaux (25-40)	42%	456 $ par an
Gen Z (18-24)	20%	312 $ par an

Antactifs sportifs et de fitness

Laird Superfood génère environ 18,7 millions de dollars de revenus des consommateurs axés sur le fitness en 2023.

• Participants de CrossFit: 23% du segment de la clientèle
• Athlètes d'endurance: 17% du segment de la clientèle
• Praticiens de yoga: 12% du segment de la clientèle

Consommateurs d'aliments naturels et biologiques

La société rapporte que 65% de leur gamme de produits est certifiée biologique, ciblant les consommateurs avec 85 000 $ + revenu annuel des ménages.

Certification biologique	Catégories de produits	Pénétration du marché
USDA bio	Crésideurs de café, boissons fonctionnelles	48% de la gamme totale de produits
Projet sans OGM vérifié	Poudres de protéines, mélanges de crémier	17% de la gamme totale de produits

Performance Nutrition Seekers

Le segment de la nutrition des performances représente 35% des revenus totaux de Laird Superfood, générant 22,4 millions de dollars en 2023.

Individus conscients de l'environnement

Les consommateurs axés sur la durabilité représentent 28% de la clientèle de Laird Superfood, avec des revenus de 12,6 millions de dollars générés par ce segment.

• Emballage durable: matériaux 100% recyclables
• Options d'expédition neutres en carbone
• Partenariats d'agriculture régénérative

Laird SuperFood, Inc. (LSF) - Modèle d'entreprise: Structure des coûts

Frais d'achat d'ingrédients bruts

Pour l'exercice 2023, Laird Superfood a déclaré le coût total des marchandises vendues (COG) de 14,1 millions de dollars, ce qui comprend les coûts d'achat d'ingrédients bruts.

Catégorie d'ingrédient	Coût d'achat annuel estimé
Ingrédients du café biologique	3,2 millions de dollars
Sources de protéines à base de plantes	2,7 millions de dollars
Ingrédients à base de noix de coco	1,9 million de dollars

Coûts de fabrication et de production

Les dépenses de fabrication de Laird Superfood en 2023 ont totalisé environ 5,6 millions de dollars.

• Coût opérationnel des installations de production: 2,3 millions de dollars
• Entretien et dépréciation de l'équipement: 1,5 million de dollars
• Coûts de main-d'œuvre pour la fabrication: 1,8 million de dollars

Investissements marketing et publicitaire numérique

Les dépenses de marketing totales pour 2023 étaient de 6,2 millions de dollars.

Canal de marketing	Dépenses
Publicité numérique	3,7 millions de dollars
Marketing des médias sociaux	1,5 million de dollars
Activités promotionnelles au détail	1,0 million de dollars

Dépenses de recherche et développement

Les investissements en R&D pour 2023 étaient de 2,1 millions de dollars, en se concentrant sur l'innovation et la formulation des produits.

Gestion de la chaîne d'approvisionnement et de la logistique

Les coûts de la chaîne d'approvisionnement et de la logistique de Laird Superfood en 2023 s'élevaient à 4,3 millions de dollars.

• Dépenses d'entreposage: 1,6 million de dollars
• Transport et distribution: 2,1 millions de dollars
• Gestion des stocks: 0,6 million de dollars

Structure totale des coûts opérationnels pour 2023: 32,3 millions de dollars

Laird SuperFood, Inc. (LSF) - Modèle d'entreprise: Strots de revenus

Ventes de produits en ligne directes

Au cours de l'exercice 2022, Laird Superfood a déclaré que des ventes nettes totales de 18,6 millions de dollars, avec une partie importante, dérivée des ventes en ligne directes via leur plateforme de commerce électronique.

Canal de vente	Revenus (2022)	Pourcentage des ventes totales
Ventes en ligne directes	8,4 millions de dollars	45.2%

Distribution des produits de magasin de détail

Laird Superfood distribue des produits à travers divers canaux de vente au détail, y compris les épiceries et les détaillants spécialisés d'aliments naturels.

Segment de vente au détail	Revenus (2022)	Nombre de points de vente au détail
Épiceries	5,2 millions de dollars	Plus de 3 500 emplacements

Offres de produits basés sur l'abonnement

La société propose des services d'abonnement aux livraisons de produits récurrentes.

• Revenus d'abonnement mensuels: 1,5 million de dollars en 2022
• Taux de rétention moyen de l'abonné: 42%
• Les gammes de produits d'abonnement comprennent des crémiers de café et des mélanges de boissons fonctionnelles

Revenus des canaux en gros

La distribution de gros représente une source de revenus importante pour le superaliment Laird.

Segment de gros	Revenus (2022)	Taux de croissance
Canaux en gros	3,9 millions de dollars	12,3% en glissement annuel

Expansion de la gamme de produits et pénétration du nouveau marché

Laird Superfood continue de diversifier ses offres de produits pour générer des sources de revenus supplémentaires.

• Les nouveaux produits lancent en 2022: 7 SKUS
• Revenus des nouvelles gammes de produits: 1,1 million de dollars
• Expansion du marché dans des segments de vente au détail supplémentaires

Revenus totaux de l'entreprise pour 2022: 18,6 millions de dollars

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.