Stran & Company reports Q4 2024 revenue of approximately $27 million, marking a 17.8% increase from Q4 2023.
Quiver AI Summary
Stran & Company, Inc. announced its preliminary unaudited results for the fourth quarter and full year of 2024, projecting revenue of approximately $27 million for Q4, a 17.8% increase from the prior year's fourth quarter, and around $83 million for the full year, a 9.3% rise from 2023. The company reported having about $18 million in cash equivalents and investments with no long-term debt as of December 31, 2024. CEO Andy Shape highlighted the successful execution of the company's expansion strategy and the benefits of integrating Gander Group assets, particularly in the gaming and entertainment sectors. Looking forward, Stran remains optimistic about its growth prospects and plans to continue investing in strategic initiatives to enhance shareholder value. The results are preliminary and subject to adjustments following standard accounting audits.
Potential Positives
- Company reports a fourth-quarter revenue increase of 17.8%, reaching approximately $27 million, compared to the previous year's fourth quarter.
- Full year 2024 revenue projected to be approximately $83 million, marking a 9.3% increase from 2023.
- Stran demonstrates strong financial health with approximately $18 million in cash equivalents and investments, and no long-term debt as of December 31, 2024.
- Management expresses optimism about long-term growth prospects and ongoing investment in strategic initiatives to maximize shareholder value.
Potential Negatives
- The preliminary unaudited results are subject to adjustment, indicating potential volatility in financial reporting that could affect stakeholder confidence.
- The forward-looking statements highlight inherent uncertainties and risks, suggesting that future performance may not meet expectations, which could impact investor sentiment.
- The need for ongoing preparation and completion of interim and annual financial statements suggests potential delays or issues in financial reporting, which could raise concerns among investors and stakeholders.
FAQ
What are Stran's preliminary revenue results for Q4 2024?
Stran expects Q4 2024 revenue to be around $27 million, a 17.8% increase from Q4 2023.
How did Stran's revenue perform in 2024 compared to 2023?
For 2024, Stran projected revenue of approximately $83 million, representing a 9.3% increase from 2023.
What financial position does Stran hold as of December 31, 2024?
Stran reported approximately $18 million in cash equivalents and investments with no long-term debt.
What sectors is Stran focusing on for growth?
Stran is expanding its capabilities in the gaming, casino, and entertainment sectors to drive growth.
How does Stran support its clients in promotional marketing?
Stran helps clients execute promotional marketing and loyalty programs, enhancing brand recognition and sales impact.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SWAG Hedge Fund Activity
We have seen 4 institutional investors add shares of $SWAG stock to their portfolio, and 10 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WILMINGTON SAVINGS FUND SOCIETY, FSB removed 42,412 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $38,175
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 35,397 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $43,184
- KANEN WEALTH MANAGEMENT LLC removed 16,206 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $19,771
- GEODE CAPITAL MANAGEMENT, LLC removed 13,801 shares (-14.9%) from their portfolio in Q3 2024, for an estimated $16,837
- CITADEL ADVISORS LLC added 10,892 shares (+inf%) to their portfolio in Q3 2024, for an estimated $13,288
- RENAISSANCE TECHNOLOGIES LLC added 8,600 shares (+34.4%) to their portfolio in Q3 2024, for an estimated $10,492
- VANGUARD GROUP INC added 8,497 shares (+4.2%) to their portfolio in Q3 2024, for an estimated $10,366
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Quincy, MA , Feb. 03, 2025 (GLOBE NEWSWIRE) -- Stran & Company, Inc. ("Stran" or the "Company") (NASDAQ: SWAG) (NASDAQ: SWAGW), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today reported preliminary selected unaudited results for the fourth quarter and full year ended December 31, 2024.
For the fourth quarter of 2024, revenue is expected to be approximately $27 million, reflecting a 17.8% increase compared to approximately $23 million expected to be reported for the fourth quarter of 2023 on a restated basis. For the full year 2024, revenue is projected to reach approximately $83 million, representing a 9.3% increase from $76 million in 2023. The Company expects to report that it had approximately $18 million in cash equivalents and investments and no long-term debt as of December 31, 2024.
“We are pleased to report another strong quarter and full year of revenue growth, reflecting the successful execution of our expansion strategy, including the ongoing integration of the assets of Gander Group™,” commented Andy Shape, President and CEO of Stran. “With our enhanced capabilities and expanded customer base in the gaming, casino, and entertainment sectors, we continue to identify new cross-selling opportunities and drive operational efficiencies. Looking ahead, we remain optimistic about our long-term growth prospects and will continue to invest in strategic initiatives to maximize value for our shareholders. Lastly, our focus remains on the preparation and subsequent completion of our interim and annual 2024 financial statements.”
The selected unaudited results in this press release are preliminary and subject to the completion of accounting and year-end audit procedures and are therefore subject to adjustment.
About Stran
For over 30 years, Stran has grown to become a leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products, branded merchandise, and loyalty incentive programs as a tool to drive awareness, build brands and impact sales. Stran is the chosen promotional programs manager of many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive, sponsorship activation, recruitment, retention, and wellness campaigns. Stran provides world-class customer service and utilizes cutting-edge technology, including efficient ordering and logistics technology to provide order processing, warehousing and fulfillment functions. The Company’s mission is to develop long-term relationships with its clients, enabling them to connect with both their customers and employees in order to build lasting brand loyalty. Additional information about the Company is available at: www.stran.com .
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Contacts:
Investor Relations Contact:
Crescendo Communications, LLC
Tel: (212) 671-1021
[email protected]
Press Contact:
Howie Turkenkopf
[email protected]