Key insights
- Laird Superfood (LSF) shares fell 10% after reporting a wider-than-expected Q4 loss, driven by higher professional fees and procurement costs. While revenue beat estimates, gross margin contracted due to commodity inflation and tariffs. Wholesale sales surged, but e-commerce declined. The company expects high single-digit sales growth for fiscal 2026, including the recently acquired Navitas Organics. This news has a slightly negative impact as it reflects company-specific challenges rather than broad market trends.
BOULDER, Colo. - Laird Superfood, Inc. (NYSE American:LSF) reported fourth quarter results that missed earnings expectations despite topping revenue estimates, with shares falling 10.3% following the announcement.
The company posted a net loss of -$0.16 per share for the fourth quarter, significantly wider than the analyst estimate of -$0.07. Revenue reached $13.3 million, slightly above the consensus estimate of $13.14 million and representing 15% growth compared to $11.6 million in the prior year period. The increased loss was driven primarily by higher professional fees related to the Navitas Organics acquisition and elevated procurement costs from commodity inflation and tariffs.
Gross margin contracted to 34.1% from 38.6% in the year-ago quarter, pressured by increased product costs from commodity prices and tariffs. Wholesale sales surged 44% YoY and contributed 52% of total revenue, driven by distribution expansion in grocery and club outlets. E-commerce sales declined 6% YoY, representing 48% of revenue, as weakness in the direct-to-consumer channel was partially offset by growth on Amazon.com.
"Fiscal 2025 was a pivotal year for Laird Superfood," said Jason Vieth, Chief Executive Officer. "We delivered 15% net sales growth driven by strong momentum in our wholesale channel and continued expansion across grocery and club."
For fiscal year 2025, the company reported net sales of $49.9 million, up 15% from $43.3 million in the prior year. Net loss for the full year was -$0.31 per share compared to -$0.18 per share in fiscal 2024.
The company expects fiscal 2026 net sales for the combined business with recently acquired Navitas Organics to grow at least in the high single digits compared to aggregate 2025 combined sales of $95.2 million. Laird Superfood completed the $38.5 million acquisition of Navitas on March 12, 2026, funded by a $50 million investment from Nexus Capital Management.
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