Laird Superfood (LSF)
Market Price (6/22/2026): $4.72 | Market Cap: $50.9 MilSector: Consumer Staples | Industry: Packaged Foods & Meats
Laird Superfood (LSF)
Market Price (6/22/2026): $4.72Market Cap: $50.9 MilSector: Consumer StaplesIndustry: Packaged Foods & Meats
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16% Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Nutritional Supplements, Functional Foods & Beverages, Show more. | Weak multi-year price returns2Y Excs Rtn is -20% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -6.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12% Stock price has recently run up significantly6M Rtn6 month market price return is 113% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -10%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -10% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 104% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.0% Key risksLSF key risks include [1] persistent net losses with an unclear path to profitability, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16% |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Nutritional Supplements, Functional Foods & Beverages, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -20% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -6.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12% |
| Stock price has recently run up significantly6M Rtn6 month market price return is 113% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -10%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -10% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 104% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.0% |
| Key risksLSF key risks include [1] persistent net losses with an unclear path to profitability, Show more. |
Qualitative Assessment
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Laird Superfood (LSF) stock has gained about 70% since 2/28/2026 because of the following key factors:
1. Transformative Acquisitions and Expanded Market Presence.
Laird Superfood executed two significant acquisitions during the period, considerably expanding its scale and market position. The company completed the acquisition of Navitas Organics on March 12, 2026, for $38.5 million. This was followed by the acquisition of Terrasoul Superfoods on April 21, 2026, for $48.0 million in cash plus an earnout of up to $5.0 million. The Terrasoul acquisition alone added approximately $65.8 million in unaudited net sales for fiscal year 2025, nearly doubling Laird Superfood's existing revenue base and establishing it as a scaled, multi-brand superfood platform.
2. Substantial Capital Injections and Optimistic Fiscal Year 2026 Outlook.
The acquisitions were critically supported by two significant convertible preferred equity investments from affiliates of Nexus Capital Management, totaling $110 million. These included $50 million in March 2026 for the Navitas acquisition and an additional $60 million in April 2026 for the Terrasoul acquisition. Following these strategic expansions, Laird Superfood provided an encouraging fiscal year 2026 guidance, projecting consolidated net sales between $138 million and $148 million and Adjusted EBITDA ranging from $8 million to $12 million, driven by anticipated top-line growth and the realization of synergies.
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Laird Superfood (LSF) stock has gained about 70% since 2/28/2026 because of the following key factors:
1. Transformative Acquisitions and Expanded Market Presence.
Laird Superfood executed two significant acquisitions during the period, considerably expanding its scale and market position. The company completed the acquisition of Navitas Organics on March 12, 2026, for $38.5 million. This was followed by the acquisition of Terrasoul Superfoods on April 21, 2026, for $48.0 million in cash plus an earnout of up to $5.0 million. The Terrasoul acquisition alone added approximately $65.8 million in unaudited net sales for fiscal year 2025, nearly doubling Laird Superfood's existing revenue base and establishing it as a scaled, multi-brand superfood platform.
2. Substantial Capital Injections and Optimistic Fiscal Year 2026 Outlook.
The acquisitions were critically supported by two significant convertible preferred equity investments from affiliates of Nexus Capital Management, totaling $110 million. These included $50 million in March 2026 for the Navitas acquisition and an additional $60 million in April 2026 for the Terrasoul acquisition. Following these strategic expansions, Laird Superfood provided an encouraging fiscal year 2026 guidance, projecting consolidated net sales between $138 million and $148 million and Adjusted EBITDA ranging from $8 million to $12 million, driven by anticipated top-line growth and the realization of synergies.
3. Strong Q1 Fiscal Year 2026 Sales Growth Driven by Wholesale Expansion.
Laird Superfood reported robust financial performance in its fiscal Q1 2026 (ended March 31, 2026), with net sales increasing 20% year-over-year to $13.9 million. Navitas Organics contributed $1.6 million to these net sales in its first partial quarter. A significant portion of this growth was fueled by a 37% year-over-year increase in wholesale sales, demonstrating successful execution of a wholesale-led growth strategy, expanded distribution, and improved product velocities in grocery and club outlets. The company also achieved a net income of $1.8 million in Q1 2026, or $0.11 diluted EPS, a notable improvement from a prior loss, primarily due to a discrete income tax benefit related to the Navitas acquisition.
4. Favorable Analyst Sentiment and Price Targets.
The investment community reacted positively to these developments, with analysts maintaining a "Strong Buy" or "Moderate Buy" consensus rating for Laird Superfood. Average price targets for the stock range from $6.00 to $9.00, with some analysts setting a high estimate of $12.00. These price targets suggest a significant potential upside from recent trading prices, indicating confidence in the company's enhanced scale and future profitability driven by the strategic acquisitions and positive fiscal year 2026 outlook.
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Stock Movement Drivers
Fundamental Drivers
The 72.1% change in LSF stock from 2/28/2026 to 6/21/2026 was primarily driven by a 60.6% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.72 | 4.68 | 72.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 48 | 52 | 8.4% |
| P/S Multiple | 0.6 | 1.0 | 60.6% |
| Shares Outstanding (Mil) | 11 | 11 | -1.1% |
| Cumulative Contribution | 72.1% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| LSF | 72.1% | |
| Market (SPY) | 9.2% | 31.2% |
| Sector (XLP) | -6.9% | -1.2% |
Fundamental Drivers
The 70.8% change in LSF stock from 11/30/2025 to 6/21/2026 was primarily driven by a 59.4% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.74 | 4.68 | 70.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 48 | 52 | 8.4% |
| P/S Multiple | 0.6 | 1.0 | 59.4% |
| Shares Outstanding (Mil) | 11 | 11 | -1.1% |
| Cumulative Contribution | 70.8% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| LSF | 70.8% | |
| Market (SPY) | 9.9% | 28.3% |
| Sector (XLP) | 6.4% | -6.6% |
Fundamental Drivers
The -27.2% change in LSF stock from 5/31/2025 to 6/21/2026 was primarily driven by a -34.5% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.43 | 4.68 | -27.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 45 | 52 | 15.8% |
| P/S Multiple | 1.5 | 1.0 | -34.5% |
| Shares Outstanding (Mil) | 10 | 11 | -4.1% |
| Cumulative Contribution | -27.2% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| LSF | -27.2% | |
| Market (SPY) | 28.1% | 25.2% |
| Sector (XLP) | 3.3% | -6.0% |
Fundamental Drivers
The 620.0% change in LSF stock from 5/31/2023 to 6/21/2026 was primarily driven by a 458.9% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.65 | 4.68 | 620.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 35 | 52 | 50.8% |
| P/S Multiple | 0.2 | 1.0 | 458.9% |
| Shares Outstanding (Mil) | 9 | 11 | -14.6% |
| Cumulative Contribution | 620.0% |
Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| LSF | 620.0% | |
| Market (SPY) | 85.7% | 13.8% |
| Sector (XLP) | 24.4% | 0.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LSF Return | -72% | -94% | 8% | 766% | -72% | 114% | -90% |
| Peers Return | -6% | -35% | 13% | 15% | -58% | -47% | -82% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| LSF Win Rate | 0% | 25% | 50% | 58% | 17% | 67% | |
| Peers Win Rate | 47% | 32% | 55% | 43% | 28% | 27% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| LSF Max Drawdown | -80% | -94% | -52% | -40% | -75% | -41% | |
| Peers Max Drawdown | -36% | -53% | -40% | -41% | -67% | -59% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HAIN, BYND, VITL, SMPL, BRBR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | LSF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.5% | -18.8% |
| % Gain to Breakeven | 52.7% | 23.1% |
| Time to Breakeven | 57 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.8% | -9.5% |
| % Gain to Breakeven | 66.2% | 10.5% |
| Time to Breakeven | 121 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -44.4% | -6.7% |
| % Gain to Breakeven | 80.0% | 7.1% |
| Time to Breakeven | 40 days | 31 days |
In The Past
Laird Superfood's stock fell -34.5% during the 2025 US Tariff Shock. Such a loss loss requires a 52.7% gain to breakeven.
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| Event | LSF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.5% | -18.8% |
| % Gain to Breakeven | 52.7% | 23.1% |
| Time to Breakeven | 57 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.8% | -9.5% |
| % Gain to Breakeven | 66.2% | 10.5% |
| Time to Breakeven | 121 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -44.4% | -6.7% |
| % Gain to Breakeven | 80.0% | 7.1% |
| Time to Breakeven | 40 days | 31 days |
In The Past
Laird Superfood's stock fell -34.5% during the 2025 US Tariff Shock. Such a loss loss requires a 52.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Laird Superfood (LSF)
Laird Superfood, Inc. is a U.S.-based company specializing in the manufacturing and marketing of plant-based, natural, and functional food products. The company focuses on developing a range of "superfood" items designed to support wellness, hydration, and performance for health-conscious consumers.
The company's product line is diverse, featuring powdered and liquid plant-based coffee creamers, along with a variety of hydration and beverage-enhancing supplements like coconut water, prebiotic greens, and daily jumpstart mixes. Laird Superfood also offers plant-based protein powders, performance mushroom supplements, and ready-to-brew beverages such as coffee, tea, and hot chocolate. Completing its offerings are whole-food snacks, including Pili nuts and Harvest dates.
Laird Superfood primarily serves consumers within the United States who are looking for natural, functional, and plant-based options to integrate into their diet. The company distributes its products through multiple channels, including direct sales via its own website, wholesale partnerships, and various third-party online retailers, making its items accessible to its target market.
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Here are 1-3 brief analogies for Laird Superfood (LSF):
- A plant-based functional food and supplement brand, similar to Garden of Life.
- A premium plant-based functional food and supplement brand that you'd expect to find at a store like Whole Foods Market.
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- Coffee Creamers: Plant-based creamers offered in both powdered and liquid varieties.
- Hydration and Beverage Enhancing Supplements: A range of products designed to support hydration and boost the nutritional value of beverages.
- Activate Supplements: Includes products like daily jumpstart, prebiotic daily greens, and performance mushroom supplements aimed at overall wellness.
- Renew Plant-Based Proteins: Protein supplements derived entirely from plant sources for muscle support and recovery.
- Hot Beverages: A selection of coffee, tea, and hot chocolate products.
- Pili Nuts and Harvest Dates: Natural, whole-food snacks.
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Laird Superfood (LSF) utilizes "wholesale channels" and "third-party online channels" for product distribution, in addition to selling directly through "its own website." This indicates that the company primarily sells its products to other businesses (B2B) for resale to individual consumers.
However, the provided background description does not explicitly identify the names of Laird Superfood's specific major customer companies. While its products are likely distributed through various grocery retailers and online marketplaces, the background text does not provide details regarding which particular companies serve as its major customers.
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Jason Vieth, President, Chief Executive Officer, and Director
Mr. Vieth joined Laird Superfood on January 31, 2022. He has extensive experience in the food and beverage industry, including his previous role as Executive Vice President of Sovos Brands from January 2021, where he managed the Breakfast and Snacks Group. Prior to that, he spent nearly a decade at WhiteWave Foods (January 2008 to April 2017), where he was Senior Vice President and General Manager of the yogurt business, which included brands like Horizon Organic, Wallaby Organic, Silk, and So Delicious. He also led other food and beverage businesses, such as Poppi (a prebiotic soda producer) from April 2019 to January 2020, and Lifetime Fitness' Life Café from April 2017 to April 2020. Mr. Vieth also has nearly a decade of management consulting experience with The Boston Consulting Group and Accenture.
Anya Hamill, Chief Financial Officer and Corporate Secretary
Ms. Hamill was appointed permanent Chief Financial Officer on November 4, 2022, after serving as interim CFO from July 1, 2022. She joined Laird Superfood as Vice President, Financial Planning and Analysis in April 2022. Ms. Hamill possesses over 20 years of strategic finance experience in public consumer packaged goods and private equity-backed emerging companies in the natural food and beverage space. Previously, she served as CFO of Little Secrets Chocolate from September 2018. Her prior roles include Senior Director of Finance, Premium Yogurt at Danone North America (May 2017 to March 2018) and various finance positions, including Senior Director of Finance, Plant-based beverage and food, at WhiteWave Foods (March 2003 to May 2017).
Laird Hamilton, Co-Founder, Chief Innovator, and Director
Mr. Hamilton co-founded Laird Superfood in 2015. He has focused on bringing his expertise and passion for fitness and nutrition to the masses by creating and co-founding several businesses. He also co-created XPT Extreme Performance Training, a performance lifestyle brand. Mr. Hamilton remains a significant individual shareholder in the company.
Trevor Rousseau, Controller
Mr. Rousseau handles the day-to-day financial operations and investor relations for Laird Superfood. He participated in the company's Q2 2025 earnings conference call.
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The most significant risk to Laird Superfood is its **ongoing financial challenges and struggle for profitability**. The company has reported net losses in previous periods and continues to anticipate a net loss on a GAAP basis for fiscal 2025, despite aiming for breakeven Adjusted EBITDA. The company's Altman Z-Score, a measure of financial health, is below the threshold indicating strong financial health and minimal bankruptcy risk. These financial pressures are compounded by gross margin compression due to factors such as increased commodity costs and tariffs.
A second key risk involves **potential damage to brand reputation and market share erosion**. As a consumer-facing brand, Laird Superfood is vulnerable to incidents that could harm its reputation, which in turn could lead to challenges in revenue growth and a loss of market share, particularly within its powdered creamer segment.
Finally, the company faces risks associated with its **reliance on third-party manufacturing and broader supply chain issues**. Dependence on external manufacturers can lead to concerns regarding product quality, as demonstrated by past contamination incidents. Furthermore, the company's ability to maintain relationships with and manage the costs and performance of its suppliers, distributors, and co-manufacturers is crucial, and commodity cost inflation can negatively impact gross margins.
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Addressable Markets for Laird Superfood's Products and Services
Laird Superfood, Inc. (LSF) operates in several growing market segments focused on plant-based, natural, and functional foods.
Plant-Based Coffee Creamers
The global plant-based creamer market was estimated at approximately USD 8.95 billion in 2024 and is projected to grow to USD 13.41 billion by 2034, with a compound annual growth rate (CAGR) of 4.1%. Another estimate places the global plant-based coffee whitener market at USD 3.8 billion in 2025, with a projected growth to USD 9.9 billion by 2035, exhibiting a CAGR of 9.2%. The non-dairy coffee creamer segment accounted for 55.16% of the overall global coffee creamer market, which was valued at USD 4.95 billion in 2024 and is projected to reach USD 7.88 billion in 2033.
In the United States, the plant-based creamer market is projected to reach USD 2.1 billion by 2034, growing at a CAGR of 4.6%. The U.S. is projected to hold a 75.6% share of the North American market by 2034.
Hydration and Beverage Enhancing Supplements (Functional Beverages & Plant-Based Proteins)
The global functional drinks market was estimated at approximately USD 249.19 billion in 2025 and is projected to reach around USD 439.21 billion by 2034, with a CAGR of 6.5%. Other reports estimate the global market at USD 168.32 billion in 2025, growing to USD 314.04 billion by 2035 (CAGR 6.44%), or USD 166.05 billion in 2025, growing to USD 372.43 billion by 2034 (CAGR 9.39%). North America dominated the functional drinks market with a 34.94% share in 2025.
The United States functional drinks market generated USD 48.47 billion in 2024 and is expected to reach USD 77.97 billion by 2030, growing at a CAGR of 8.3% from 2025 to 2030. Another report values the U.S. functional beverages market at USD 47.92 billion in 2025, expected to expand to USD 100.26 billion by 2034 with a CAGR of 8.54%.
Regarding plant-based proteins, the global market was valued at USD 27.48 billion in 2025 and is estimated to grow to USD 90.06 billion by 2034, at a CAGR of 14.1%. Another source indicates the global plant-based protein market was valued at USD 20.32 billion in 2025 and is estimated to reach USD 47.93 billion by 2036, growing at a CAGR of 8.1% from 2026 to 2036.
In the United States, the plant-based protein market was valued at approximately USD 4.5 billion in 2025 and is projected to reach USD 5.75 billion by 2032, with a CAGR of 3.56%. The U.S. plant-based protein supplements market specifically generated USD 883.1 million in 2023 and is expected to reach USD 1.52 billion by 2030, with a CAGR of 8.1%.
Coffee, Tea, and Hot Chocolate Products (Specialty Coffee)
The global specialty coffee market was estimated at USD 111.5 billion in 2025 and is projected to reach USD 251.70 billion by 2033, growing at a CAGR of 10.8% from 2026 to 2033. Other estimates place the global market at USD 80.47 billion in 2024, projected to reach USD 178.67 billion by 2032 with a CAGR of 9.77%.
The U.S. specialty coffee market was estimated at USD 47.8 billion in 2024 and is projected to grow at a CAGR of 9.5% from 2025 to 2030. Another report valued the U.S. specialty coffee market at USD 22 billion in 2024, expecting it to reach USD 68.32 billion by 2034 with a CAGR of 12% from 2025. North America accounted for a substantial share of the global specialty coffee market, at 50.7% in 2025.
Pili Nuts and Harvest Dates (Healthy Snacks)
The global healthy snacks market was estimated at USD 95.61 billion in 2023 and is projected to reach USD 144.64 billion by 2030, growing at a CAGR of 6.2% from 2024 to 2030. Another projection for the global healthy snacks market is USD 108.34 billion in 2025, increasing to approximately USD 195.20 billion by 2035 with a CAGR of 4.95% from 2025 to 2034. The fruit, nuts, and seeds segment of the healthy snacks market held a share of 37.8% in 2023 globally.
In the United States, the healthy snacks market was estimated at USD 31.90 billion in 2024 and is projected to reach USD 54.61 billion in 2033, with a CAGR of 6.2% from 2025. The fruit, nuts, and seeds segment of the U.S. healthy snacks market accounted for a revenue share of 39.3% in 2024. North America held a significant share of the global healthy snacks market, at 39.1% in 2023.
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Expected Drivers of Future Revenue Growth for Laird Superfood (LSF)
- Expansion of E-commerce Channels: Laird Superfood expects continued strong growth from its e-commerce segment, particularly through Amazon and its direct-to-consumer (DTC) platforms. This growth is anticipated to be fueled by enhanced inventory management, increased "buy box" win percentages on platforms like Amazon, and efficient media spending. Additionally, the DTC channel is seeing growth through a steady increase in subscribers, repeat orders, higher average order values, and strategic adjustments to promotional spending, with the subscription model becoming a significant contributor to DTC sales.
- Wholesale Channel Growth and Distribution Expansion: The company projects sustained revenue growth through the expansion of its wholesale channel. This involves securing new distribution agreements with major retailers such as Kroger and Safeway Albertsons, building on existing relationships with partners like Whole Foods and Sprouts, and improving product velocity within current accounts. Wholesale net sales have shown strong year-over-year increases, indicating successful strategies in club and grocery channels.
- Product Innovation and Portfolio Expansion: Continuous product innovation is a key component of Laird Superfood's growth strategy. A significant driver for future revenue will be the acquisition of Navitas Organics, expected to close in Q1 2026. This acquisition is projected to add nearly $36.4 million in annual revenues (based on 2024 figures) and will strengthen Laird Superfood's position in the superfoods and wellness markets by expanding its overall product portfolio. The growth of specific product categories, such as the hydration business, is also contributing to overall sales.
- Growth in Subscription Model for Direct-to-Consumer Sales: A strategic shift to a subscription-based model within the direct-to-consumer (DTC) segment is a vital driver. This approach fosters customer loyalty and recurring revenue, with the subscription model now accounting for nearly half of Laird Superfood's DTC sales.
- Optimized Promotional Strategies and Improved Operational Efficiency: While not a direct generator of new revenue, improved operational efficiency and optimized promotional strategies contribute indirectly to revenue growth by enhancing profitability and allowing for more competitive pricing and reinvestment. The company has demonstrated significant improvements in gross margins through strategic sourcing, a shift to a variable cost manufacturing model, and disciplined trade spend management. These efficiencies enable more effective marketing and pricing, supporting customer acquisition and retention.
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Share Issuance
- In May 2024, Laird Superfood's stockholders approved an amendment to the incentive plan, reserving an additional 1,536,742 shares for future issuance under the 2020 Plan.
- As of June 30, 2025, the company had 1,193,862 authorized shares available for issuance or awards under the 2020 Plan, in addition to 2,168,061 shares issuable upon vesting and exercise of outstanding options and restricted stock units.
- The $50.0 million Series A Preferred Stock issued to Nexus affiliates is convertible into an aggregate of 30,812,325 common shares upon full conversion of initial and additional shares, at a conversion price of $3.57 per share, which is expected to result in a change of control in favor of Nexus.
Inbound Investments
- Laird Superfood secured a $50.0 million convertible preferred equity investment from Nexus Capital Management, agreed upon in December 2025 and completed in March 2026.
- This investment involved Nexus affiliates purchasing 50,000 shares of Series A preferred stock at $1,000 per share, with an option for up to an additional 60,000 shares for future strategic transactions.
- The Series A Preferred Stock carries a 5% cumulative dividend and converts into common stock, granting Nexus significant voting power on an as-converted basis and leading to a reconstitution of Laird Superfood's board with Nexus designees.
Outbound Investments
- Laird Superfood completed the acquisition of Navitas LLC and Global Superfoods Corp. for $38.5 million in cash in March 2026, following an agreement announced in December 2025.
- The acquisition of Navitas was a strategic move aimed at building a larger and more diversified platform within the functional nutrition sector.
- Navitas Organics, with annual revenues of nearly $36.4 million in 2024, was expected to be immediately accretive to Laird Superfood's business, creating a combined pro forma annual revenue base of approximately $80 million during 2024.
Capital Expenditures
- Laird Superfood reported capital expenditures of $15,000 in the fourth quarter of 2022.
- The company noted that capital expenditures of $25,000 absorbed a substantial portion of its operating cash flow, contributing to a low free cash flow margin in Q4 2022.
- During the nine months ended September 30, 2025, cash used in operating activities, partially due to strategic investments in working capital, led to an increase in inventory from $6.0 million at December 31, 2024, to $11.0 million at June 30, 2025, to meet demand, address out-of-stocks, and forward purchase inventory due to anticipated tariffs.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Laird Superfood Earnings Notes | 12/16/2025 | |
| Laird Superfood Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 7.07 |
| Mkt Cap | 0.4 |
| Rev LTM | 1,100 |
| Op Inc LTM | 46 |
| FCF LTM | 18 |
| FCF 3Y Avg | 26 |
| CFO LTM | 37 |
| CFO 3Y Avg | 62 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.4% |
| Rev Chg 3Y Avg | 10.6% |
| Rev Chg Q | -3.8% |
| QoQ Delta Rev Chg LTM | -0.9% |
| Op Inc Chg LTM | -31.8% |
| Op Inc Chg 3Y Avg | 0.5% |
| Op Mgn LTM | 5.0% |
| Op Mgn 3Y Avg | 6.5% |
| QoQ Delta Op Mgn LTM | -1.2% |
| CFO/Rev LTM | 2.8% |
| CFO/Rev 3Y Avg | 6.3% |
| FCF/Rev LTM | -3.7% |
| FCF/Rev 3Y Avg | 2.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Coffee creamers | 29 | 23 | 20 | 20 | 22 |
| Coffee, tea, and hot chocolate products | 15 | 11 | 8 | 7 | 5 |
| Hydration and beverage enhancing supplements | 7 | 9 | 5 | 5 | 6 |
| Snacks and other food items | 6 | 6 | 7 | 7 | 7 |
| Shipping income | 0 | 1 | 1 | 1 | 0 |
| Other | 0 | 0 | 0 | 2 | 1 |
| Discounts and promotional activity | -8 | -7 | -8 | -6 | -4 |
| Total | 50 | 43 | 34 | 36 | 37 |
Price Behavior
| Market Price | $4.68 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 09/23/2020 | |
| Distance from 52W High | -37.4% | |
| 50 Days | 200 Days | |
| DMA Price | $3.24 | $3.43 |
| DMA Trend | down | up |
| Distance from DMA | 44.4% | 36.5% |
| 3M | 1YR | |
| Volatility | 82.5% | 81.6% |
| Downside Capture | 26.75 | 199.87 |
| Upside Capture | 239.77 | 110.61 |
| Correlation (SPY) | 30.9% | 24.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.79 | 2.65 | 1.82 | 2.00 | 1.68 | 1.02 |
| Up Beta | 4.12 | 1.92 | 1.19 | 1.53 | 1.87 | 0.80 |
| Down Beta | 7.26 | 6.12 | 2.38 | 3.05 | 1.62 | 1.60 |
| Up Capture | 158% | 362% | 235% | 230% | 88% | 148% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 8 | 21 | 32 | 56 | 110 | 357 |
| Down Capture | 96% | 194% | 163% | 155% | 169% | 87% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 12 | 19 | 29 | 60 | 126 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LSF | |
|---|---|---|---|---|
| LSF | -27.2% | 81.5% | -0.02 | - |
| Sector ETF (XLP) | 6.3% | 13.0% | 0.21 | -6.5% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 24.9% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 7.5% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -13.6% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 17.3% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 26.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LSF | |
|---|---|---|---|---|
| LSF | -32.1% | 104.3% | 0.07 | - |
| Sector ETF (XLP) | 6.0% | 13.4% | 0.23 | 4.6% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 17.0% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 3.9% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 2.5% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 13.7% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 11.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LSF | |
|---|---|---|---|---|
| LSF | -19.6% | 101.2% | 0.05 | - |
| Sector ETF (XLP) | 7.2% | 14.8% | 0.36 | 4.8% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 17.2% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 3.9% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 2.5% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 13.0% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 10.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/14/2026 | -7.3% | 4.7% | 28.2% |
| 3/26/2026 | -8.9% | 9.8% | 48.0% |
| 11/10/2025 | -31.1% | -40.0% | -45.9% |
| 8/11/2025 | 0.9% | 0.0% | 2.5% |
| 5/7/2025 | 4.9% | 10.4% | -0.1% |
| 2/26/2025 | -16.6% | -27.1% | -2.6% |
| 11/6/2024 | 21.7% | 14.0% | 22.1% |
| 8/7/2024 | 0.0% | -3.1% | -20.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 11 | 11 |
| # Negative | 13 | 12 | 12 |
| Median Positive | 5.4% | 10.4% | 23.5% |
| Median Negative | -8.9% | -17.7% | -11.2% |
| Max Positive | 104.3% | 150.5% | 179.6% |
| Max Negative | -31.1% | -40.0% | -45.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/14/2026 | -7.3% | 4.7% | 28.2% |
| 3/26/2026 | -8.9% | 9.8% | 48.0% |
| 11/10/2025 | -31.1% | -40.0% | -45.9% |
| 8/11/2025 | 0.9% | 0.0% | 2.5% |
| 5/7/2025 | 4.9% | 10.4% | -0.1% |
| 2/26/2025 | -16.6% | -27.1% | -2.6% |
| 11/6/2024 | 21.7% | 14.0% | 22.1% |
| 8/7/2024 | 0.0% | -3.1% | -20.4% |
| 5/8/2024 | 4.9% | -1.5% | 64.8% |
| 3/12/2024 | 104.3% | 150.5% | 179.6% |
| 11/8/2023 | 5.8% | -2.4% | 23.5% |
| 8/9/2023 | -8.9% | 4.7% | -7.5% |
| 5/10/2023 | -15.9% | -20.1% | -1.6% |
| 3/14/2023 | -9.9% | -20.8% | -1.0% |
| 11/10/2022 | 3.9% | 1.9% | -31.0% |
| 8/10/2022 | -7.3% | 29.3% | 14.8% |
| 5/12/2022 | 18.6% | 47.7% | 24.5% |
| 3/8/2022 | -4.0% | -24.6% | -14.3% |
| 11/10/2021 | 11.8% | -15.2% | -30.3% |
| 8/11/2021 | -19.2% | -20.4% | -25.8% |
| 5/13/2021 | -6.8% | -3.2% | -8.0% |
| 3/12/2021 | -0.7% | -5.6% | 3.8% |
| 11/12/2020 | -7.9% | 12.4% | 2.4% |
| SUMMARY STATS | |||
| # Positive | 10 | 11 | 11 |
| # Negative | 13 | 12 | 12 |
| Median Positive | 5.4% | 10.4% | 23.5% |
| Median Negative | -8.9% | -17.7% | -11.2% |
| Max Positive | 104.3% | 150.5% | 179.6% |
| Max Negative | -31.1% | -40.0% | -45.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/30/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/30/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/08/2022 | 10-K |
| 09/30/2021 | 11/10/2021 | 10-Q |
| 06/30/2021 | 08/11/2021 | 10-Q |
| 03/31/2021 | 05/13/2021 | 10-Q |
| 12/31/2020 | 03/16/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 09/23/2020 | 424B4 |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/14/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 138.00 Mil | 143.00 Mil | 148.00 Mil | ||||
| 2026 Adjusted EBITDA | 8.00 Mil | 10.00 Mil | 12.00 Mil | ||||
Prior: Q4 2025 Earnings Reported 3/26/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales Growth | 7.0% | -53.3% | -8.0% | Lowered | Guidance: 15.0% for 2025 | ||
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Graves, Gregory B | Direct | Buy | 6122026 | 3.45 | 15,000 | 51,750 | 259,057 | Form | |
| 2 | Lamontagne, Grant J | Direct | Buy | 6092026 | 3.30 | 6,910 | 22,803 | 578,305 | Form | |
| 3 | Lamontagne, Grant J | Direct | Buy | 6092026 | 3.23 | 8,826 | 28,508 | 543,719 | Form | |
| 4 | Lamontagne, Grant J | Direct | Buy | 6092026 | 3.30 | 17,054 | 56,278 | 526,376 | Form | |
| 5 | Lamontagne, Grant J | Direct | Buy | 6092026 | 3.30 | 27,160 | 89,628 | 470,098 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Graves, Gregory B | Direct | Buy | 6122026 | 3.45 | 15,000 | 51,750 | 259,057 | Form | |
| 2 | Lamontagne, Grant J | Direct | Buy | 6092026 | 3.30 | 6,910 | 22,803 | 578,305 | Form | |
| 3 | Lamontagne, Grant J | Direct | Buy | 6092026 | 3.23 | 8,826 | 28,508 | 543,719 | Form | |
| 4 | Lamontagne, Grant J | Direct | Buy | 6092026 | 3.30 | 17,054 | 56,278 | 526,376 | Form | |
| 5 | Lamontagne, Grant J | Direct | Buy | 6092026 | 3.30 | 27,160 | 89,628 | 470,098 | Form | |
| 6 | Lamontagne, Grant J | Direct | Buy | 6012026 | 3.30 | 6,610 | 21,813 | 380,470 | Form | |
| 7 | Lamontagne, Grant J | Direct | Buy | 6012026 | 3.30 | 624 | 2,059 | 358,657 | Form | |
| 8 | Lamontagne, Grant J | Direct | Buy | 6012026 | 3.30 | 615 | 2,030 | 356,598 | Form | |
| 9 | Lamontagne, Grant J | Direct | Buy | 6012026 | 3.30 | 87 | 287 | 354,568 | Form | |
| 10 | Lamontagne, Grant J | Direct | Buy | 6012026 | 3.28 | 22,850 | 74,948 | 352,134 | Form |
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Packaged Foods & Meats Resources |
| USDA Data |
| Food Processing |
| Meat+Poultry |
| Just Food |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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