Stran & Company (SWAG) Q4 2025 earnings summary

Executive summary

• Achieved $116.2 million in revenue for 2025, up 40.6% year-over-year, driven by both organic growth and acquisitions, with 12.9% organic growth in the core business.

• Positive EBITDA of $184,000, a turnaround from negative $3.6 million in 2024, and net loss narrowed to $747,000 from $4.1 million.

• Expanded customer base to over 2,000 active clients, including more than 30 Fortune 500 companies.

• Launched a new client-branded gifting platform, enhancing recurring revenue streams and digital capabilities.

• Enhanced programmatic relationships and deeper client engagement supported growth.

Financial highlights

• Revenue grew to $116.2 million in 2025 from $82.7 million in 2024, a 40.6% increase, driven by new/existing customer spend and Gander Group asset acquisition.

• Gross profit rose 32.6% to $34.2 million, though gross margin declined to 29.5% from 31.2% due to segment mix and lower-margin acquisition.

• Operating expenses increased 17.8% to $36.2 million, but as a percentage of sales, fell to 31.1% from 37.2%.

• Cash and investments totaled $11.6 million at year-end.

• Stock repurchase and payment of contingent earn-out and installment liabilities reduced cash position.

Outlook and guidance

• Expecting meaningful improvement in first quarter profitability for 2026, driven by customer demand and operating leverage.

• No formal guidance provided, but management is confident in sustained momentum and margin expansion.

• Continued focus on deepening enterprise relationships, expanding programmatic revenue, and selective acquisitions.