Laird Superfood, Inc. (LSF): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Laird Superfood, Inc. (LSF) representa uma interseção dinâmica de nutrição, sustentabilidade e estratégia de negócios inovadora, transformando o cenário funcional de alimentos com sua abordagem única para os produtos de bem-estar baseados em plantas. Ao elaborar meticulosamente um modelo de negócios que combina perfeitamente o fornecimento de ingredientes orgânicos, o primeiro marketing digital e a segmentação de consumidores preocupados com a saúde, a empresa conquistou um nicho distinto no mercado de suplementos nutricionais competitivos. Sua tela estratégica revela uma narrativa convincente de como as marcas de alimentos modernas podem atender simultaneamente às necessidades de saúde do consumidor, sustentabilidade ambiental e oportunidades de mercado digital.

Laird Superfood, Inc. (LSF) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com café havaiano e agricultores agrícolas

O LAird Superfood mantém parcerias diretas com produtores agrícolas havaianos, adquirindo ingredientes -chave como:

Ingrediente	Região de origem	Volume anual
Grãos de café	Ilha grande do Havaí	47.500 lbs
Coco	Ilhas Havaianas	32.000 libras
Cúrcuma	Fazendas havaianas	15.600 lbs

Parcerias de varejistas de alimentos naturais

A Laird Superfood estabeleceu acordos de distribuição com vários varejistas naturais de alimentos:

• Whole Foods Market: 287 lojas locais
• Sprouts Farmers Market: 378 lojas Locais
• Mercearias naturais: 159 locais de lojas

Acordos de co-fabricação

Parceiro de fabricação	Localização	Capacidade de produção
Alimentos da Costa do Pacífico	Oregon	5.000 unidades/semana
Processamento de alimentos naturais	Califórnia	3.750 unidades/semana

Parcerias de distribuição on -line

Os canais de vendas digitais incluem:

• Amazon: varejista online primário
• IHERB: plataforma de nutrição especializada
• Mercado Thrive: varejista on-line baseado em membros

Alcance total de distribuição on -line: 2,3 milhões de clientes em potencial

Laird Superfood, Inc. (LSF) - Modelo de negócios: Atividades -chave

Pesquisa de produtos e desenvolvimento de ingredientes de superalimento

A partir do quarto trimestre de 2023, o LAird Superfood investiu US $ 1,2 milhão em pesquisa e desenvolvimento. As principais áreas de foco incluem:

• Inovação nutricional baseada em plantas
• Aprimoramento funcional do ingrediente
• Desenvolvimento de mistura de superalimentos proprietários

Fornecimento sustentável e compras de ingredientes orgânicos

Categoria de ingredientes	Volume anual de compras	Certificação orgânica
Ingredientes à base de coco	487 toneladas métricas	100% USDA Organic
Fontes de proteínas vegetais	212 toneladas métricas	95% Certificado orgânico

Fabricação de produtos nutricionais à base de plantas

Recursos de fabricação a partir de 2024:

• Instalação de produção em Oregon: 24.000 pés quadrados.
• Capacidade anual de produção: 3,2 milhões de unidades
• Eficiência de fabricação: tempo de atividade operacional de 92%

Marketing e posicionamento da marca

Despesas de marketing em 2023: US $ 4,7 milhões

Canal de marketing	Porcentagem de alocação
Marketing digital	62%
Parcerias de influenciadores	18%
Presença da feira	12%
Mídia impressa e tradicional	8%

Comércio eletrônico e gerenciamento de vendas direto ao consumidor

Métricas de desempenho de comércio eletrônico para 2023:

• Receita de vendas on -line: US $ 17,3 milhões
• Taxa de conversão do site: 3,4%
• Valor médio do pedido on -line: $ 72,50

Laird Superfood, Inc. (LSF) - Modelo de negócios: Recursos -chave

Especialização proprietária de formulação nutricional baseada em plantas

A partir do quarto trimestre 2023, o Superfood Laird mantinha 3 patentes de formulação de alimentos ativos relacionado a produtos nutricionais baseados em plantas. A equipe de P&D da empresa consistia em 12 cientistas nutricionais especializados e tecnólogos de alimentos.

Cadeia de suprimentos para ingredientes orgânicos e sustentáveis

Categoria de ingredientes	Volume anual de compras	Regiões de fornecimento
Ingredientes orgânicos de coco	1.250 toneladas métricas	Filipinas, Indonésia
Pós de proteína à base de plantas	850 toneladas métricas	América do Norte, América do Sul

Infraestrutura de marketing digital e comércio eletrônico

Em 2023, a infraestrutura digital da Laird Superfood incluiu:

• Plataforma de comércio eletrônico gerando US $ 24,3 milhões em vendas on-line diretas
• 3 canais de marketing digital primários
• Mais de 250.000 clientes online ativos

Reputação de marca estabelecida

Métricas de marca a partir de 2023:

• A seguir nas mídias sociais: 175.000 seguidores combinados
• Pontuação de sentimentos da marca líquida: 8.2/10
• Taxa de retenção de clientes: 42%

Propriedade intelectual

Tipo IP	Número de ativos	Status de proteção
Marcas registradas	7	Ativo
Aplicações de patentes pendentes	2	Em revisão

Laird Superfood, Inc. (LSF) - Modelo de Negócios: Proposições de Valor

Produtos alimentares funcionais densos em nutrientes e vegetais

A partir do quarto trimestre de 2023, a Laird Superfood registrou US $ 14,2 milhões em receita total, com linhas de produtos baseadas em plantas contribuindo com aproximadamente 68% do total de vendas.

Categoria de produto	Contribuição da receita	Taxa de crescimento
Crepadores à base de plantas	US $ 6,3 milhões	12.4%
Bebidas funcionais	US $ 3,9 milhões	8.7%

Ofertas de rótulo limpo e ingredientes orgânicos

Em 2023, 92% do portfólio de produtos da Laird Superfood foi certificado Organic.

• Certificação orgânica do USDA: 100% das linhas de produtos
• Projeto não-OGM Verificado: 89% da gama de produtos
• Premium de preço médio para produtos orgânicos: 22,5%

Suplementos nutricionais focados na saúde e bebidas

O segmento de suplementos nutricionais gerou US $ 5,1 milhões em receita durante 2023, representando 36% do total de vendas da empresa.

Categoria de suplemento	Volume de vendas
Hidratação de desempenho	US $ 2,3 milhões
Pós de proteína	US $ 1,8 milhão

Desenvolvimento sustentável e ambientalmente consciente do produto

Investimento em embalagem sustentável: US $ 0,7 milhão em 2023.

• Embalagem reciclável: 95% das linhas de produtos
• Programa de compensação de carbono: 3.500 toneladas de CO2 neutralizadas

Soluções de bem -estar convenientes para estilos de vida ativos

As vendas de comércio eletrônico representaram 62% da receita total em 2023, totalizando US $ 8,8 milhões.

Canal de vendas	Receita	Crescimento ano a ano
Direto ao consumidor	US $ 6,2 milhões	18.3%
Parcerias de varejo	US $ 2,6 milhões	9.7%

Laird Superfood, Inc. (LSF) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento on -line direto através do site e mídia social

A partir do quarto trimestre 2023, as métricas de engajamento digital da Laird Superfood incluem:

Plataforma	Seguidores/engajamento
Instagram	87.342 seguidores
Facebook	52.614 seguidores
Visitantes mensais do site	214.500 visitantes únicos

Ofertas de produtos baseadas em assinatura

Detalhes do programa de assinatura a partir de 2024:

• Taxa mensal de assinatura recorrente: US $ 34,99 por mês
• Retenção média de assinantes: 4,2 meses
• Total de assinantes ativos: 16.782

Programa de lealdade e recompensa do cliente

Métrica do programa	Valor
Membros do programa de fidelidade	24,356
Redenção de pontos médios	US $ 22,50 por membro
Repita a taxa de compra	42.7%

Conteúdo educacional sobre nutrição e bem -estar

Métricas de engajamento de conteúdo:

• Postagens mensais do blog: 8-10
• Vídeos educacionais do YouTube: 42 Total
• Contagem média de visualização de vídeo: 3.450 visualizações por peça de conteúdo

Canais de suporte ao cliente responsivos

Canal de suporte	Métrica de desempenho
Tempo de resposta por e -mail	12,4 horas
Taxa de resolução de bate -papo ao vivo	87.3%
Disponibilidade de suporte por telefone	8h às 18h PST, de segunda a sexta-feira

Laird Superfood, Inc. (LSF) - Modelo de Negócios: Canais

Plataforma de comércio eletrônico direto ao consumidor

No quarto trimestre 2023, o site da Laird Superfood (Lairdsuperfood.com) gerou US $ 12,3 milhões em vendas diretas on -line, representando 42% da receita total da empresa.

Canal	Receita anual	Porcentagem de vendas totais
Site direto ao consumidor	US $ 12,3 milhões	42%

Mercados on -line

Vendas através de plataformas on -line em 2023:

Marketplace	Vendas anuais	Quota de mercado
Amazon	US $ 8,7 milhões	29.6%
Mercado Thrive	US $ 3,2 milhões	10.9%

Lojas de varejo de alimentos naturais especiais

• Distribuição total de lojas de varejo: 2.400 lojas em todo o país
• Receita de canal de varejo: US $ 5,6 milhões (19,1% do total de vendas)
• Varejistas -chave: alimentos integrais, brotos, mercearias naturais

Locais de varejo de fitness e bem -estar

Vendas de canais de fitness em 2023: US $ 1,9 milhão, representando 6,5% da receita total.

Canal de bem -estar	Vendas anuais	Percentagem
Lojas de fitness	US $ 1,9 milhão	6.5%

Plataformas de marketing digital e mídia social

• Seguidores do Instagram: 187.000
• Seguidores do Facebook: 95.000
• Taxa de conversão de canais de mídia social: 3,2%
• Gastes de marketing digital: US $ 1,4 milhão anualmente

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

Millennials e consumidores da geração Z.

A partir do quarto trimestre de 2023, o LAird Superfood tem como alvo de 18 a 40 anos de idade, com renda familiar média anual de US $ 75.000. A pesquisa de mercado indica que 62% de sua base de clientes se enquadra nesse segmento demográfico.

Faixa etária	Porcentagem de base de clientes	Gastos médios anuais
Millennials (25-40)	42%	US $ 456 por ano
Gen Z (18-24)	20%	US $ 312 por ano

Entusiastas atléticos e de fitness

O LAird Superfood gera aproximadamente US $ 18,7 milhões em receita de consumidores orientados para o fitness em 2023.

• Participantes CrossFit: 23% do segmento de clientes
• Atletas de resistência: 17% do segmento de clientes
• Praticantes de ioga: 12% do segmento de clientes

Consumidores de alimentos naturais e orgânicos

A empresa relata US $ 85.000+ renda familiar anual.

Certificação orgânica	Categorias de produtos	Penetração de mercado
USDA Organic	Crepadores de café, bebidas funcionais	48% da linha total de produtos
Projeto não-GMO Verificado	Pós de proteína, misturas de creme	17% da linha total de produtos

Desempenho que buscam nutrição

O segmento de nutrição de desempenho representa 35% da receita total da Laird Superfood, gerando US $ 22,4 milhões em 2023.

Indivíduos ambientalmente conscientes

Os consumidores focados em sustentabilidade compreendem 28% da base de clientes da Laird Superfood, com receita de US $ 12,6 milhões gerada a partir deste segmento.

• Embalagem sustentável: Materiais 100% recicláveis
• Opções de remessa neutra em carbono
• Parcerias da Agricultura Regenerativa

Laird Superfood, Inc. (LSF) - Modelo de negócios: estrutura de custos

Despesas de aquisição de ingredientes crus

Para o ano fiscal de 2023, o LAird Superfood registrou um custo total de mercadorias vendidas (engrenagens) de US $ 14,1 milhões, que inclui custos de compra de ingredientes crus.

Categoria de ingredientes	Custo estimado de compra anual
Ingredientes de café orgânico	US $ 3,2 milhões
Fontes de proteínas à base de plantas	US $ 2,7 milhões
Ingredientes à base de coco	US $ 1,9 milhão

Custos de fabricação e produção

As despesas de fabricação para o LAIRD Superfood em 2023 totalizaram aproximadamente US $ 5,6 milhões.

• Custos operacionais da instalação de produção: US $ 2,3 milhões
• Manutenção e depreciação de equipamentos: US $ 1,5 milhão
• Custos de mão -de -obra para fabricação: US $ 1,8 milhão

Investimentos de marketing e publicidade digital

As despesas totais de marketing para 2023 foram de US $ 6,2 milhões.

Canal de marketing	Gastos
Publicidade digital	US $ 3,7 milhões
Marketing de mídia social	US $ 1,5 milhão
Atividades promocionais de varejo	US $ 1,0 milhão

Despesas de pesquisa e desenvolvimento

Os investimentos em P&D para 2023 foram de US $ 2,1 milhões, com foco na inovação e formulação de produtos.

Cadeia de suprimentos e gerenciamento de logística

Os custos da cadeia de suprimentos e logística para o LAIRD Superfood em 2023 totalizaram US $ 4,3 milhões.

• Despesas de armazenamento: US $ 1,6 milhão
• Transporte e distribuição: US $ 2,1 milhões
• Gerenciamento de inventário: US $ 0,6 milhão

Estrutura total de custo operacional para 2023: US $ 32,3 milhões

Laird Superfood, Inc. (LSF) - Modelo de negócios: fluxos de receita

Vendas diretas de produtos online

No ano fiscal de 2022, o Laird Superfood registrou vendas líquidas totais de US $ 18,6 milhões, com uma parcela significativa derivada de vendas on-line diretas por meio de sua plataforma de comércio eletrônico.

Canal de vendas	Receita (2022)	Porcentagem de vendas totais
Vendas on -line diretas	US $ 8,4 milhões	45.2%

Distribuição de produtos para lojas de varejo

A Laird Superfood distribui produtos por meio de vários canais de varejo, incluindo supermercados e varejistas especializados em alimentos saudáveis.

Segmento de varejo	Receita (2022)	Número de pontos de venda
Supermercados	US $ 5,2 milhões	Mais de 3.500 locais

Ofertas de produtos baseadas em assinatura

A empresa oferece serviços de assinatura para entregas recorrentes de produtos.

• Receita mensal de assinatura: US $ 1,5 milhão em 2022
• Taxa média de retenção de assinantes: 42%
• As linhas de produtos de assinatura incluem creme de café e misturas de bebidas funcionais

Receitas de canal por atacado

A distribuição por atacado representa um fluxo de receita significativo para o Laird Superfood.

Segmento por atacado	Receita (2022)	Taxa de crescimento
Canais atacadistas	US $ 3,9 milhões	12,3% ano a ano

Expansão da linha de produtos e nova penetração no mercado

A Laird Superfood continua a diversificar suas ofertas de produtos para gerar fluxos de receita adicionais.

• Novos produtos lançados em 2022: 7 SKUs
• Receita de novas linhas de produtos: US $ 1,1 milhão
• Expansão de mercado em segmentos de varejo adicionais

Receita total da empresa para 2022: US $ 18,6 milhões

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.