Laird Superfood Inc 2025年季度报告

ACT OF 1934For the transition period from _________ to_________ Part I. Financial InformationItem 1. Financial Statements Unaudited Consolidated Condensed Statements of Stockholders’Equity Notes to Unaudited Consolidated Condensed Financial Statements Item 2. Management’s Discussion and Analysis of Financial Conditions and Results of Operations Item 1A. Risk Factors Forward-looking statements convey our current expectations or forecasts of future events and are not guarantees of futureperformance. Such forward-looking statements are based on numerous assumptions that we believe are reasonable, but they are open to a wide range of uncertainties and business risks. Our ability to predict results or the actual effect of future plans orstrategies is inherently uncertain. Any statements contained in this Quarterly Report on Form 10-Q that are not statements of historical fact may be forward-looking statements. When we use the words “anticipates,” “believes,” “continues,” “could,”“estimates,”“expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “seeks,” “should,” “will,” “would,”or the negative of these terms or other comparable terminology, we are identifying forward-looking statements.Forward-looking statements involve risks and uncertainties, which may cause our actual results, performance, or achievements tobe materially different from those expressed or implied by forward-looking statements. Key factors that could cause actual resultsto be different than expected or anticipated include, but are not limited to: ●our ability to manage our growth, including our human resource requirements; ●our reliance on independent distributors for a substantial portionof our sales; ●our ability to evaluate and measure our business, prospects, and performance metrics;●our ability to compete and succeed in a highly competitive and evolving industry;●the health of the premium organic and natural food industry as a whole; ●regulatory risks; ●tariffs and trade-related policies; and ●the other risks described herein and in our Annual Report on Form 10-K for the year ended December 31, 2024. In light of these risks, uncertainties and assumptions, you are cautioned not to place undue reliance on forward-looking statements, Quarterly Report on Form 10-Q and the documents that we reference in this report with the understanding that our actual futureresults, levels of activity, performance and achievements may be materially different from what we expect. When considering forward-looking statements, you should keep in mind the cautionary statements in this report. We qualify all our forward-lookingstatements by these cautionary statements. We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 3 LAIRD SUPERFOOD, INC.CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) Current assets Cash, cash equivalents, and restricted cashAccounts receivable, net Prepaid expenses and other current assets Total current assetsNoncurrent assets Intangible assets, net851,068Related party license agreements132,100Right-of-use assets187,127Total noncurrent assets1,279,4901,292,373Total assets$21,493,031$19,259,001Liabilities and Stockholders’ Equity Stockholders’ EquityCommon StockAdditionalAccumulated (Unaudited)Three Months Ended March 31,20252024Cash flows from operating activities$(156,182)$(1,016,522)Adjustments to reconcile net loss to net cash from operating activities:Depreciation and amortization66,521Stock-based compensation508,410279,565Provision for inventory obsolescence101,715Other operating activities, net24,575Changes in operating assets and liabilities:Accounts receivable(556,239)(1,069,238)Inventory(3,638,003)646,231Prepaid expenses and other current assets576,688217,889Operating lease liability(26,492)(32,254)Accounts payable1,032,391Accrued expenses751,038276,051 Taxes withheld to cover net issuances of incentive stock awards included in accrued Financial Statement PreparationTheaccompanying unaudited consolidated condensed financial statements(the“balance sheet(s),”“statement(s)ofoperations,”“statement(s) of stockholders' equity,” and “statement(s) of cash flows,”collectively, the “financial statements”)includethe accounts of Laird Superfood,Inc.,a Nevada corporation,and its wholly owned subsidiary,Picky Bars,LLC(collectively, the “Company,” or “Laird Superfood”). In management's opinion, the financial statements contain all Segment information is prepared on the same basis that the Company's Chief Executive Officer, who is deemed to be theCompany's Chief Operating Decision Maker (the “CODM”), reviews financial information for operational decision-makingpurposes. The Company hasonereportable segment. See Note15for information on the Company's segment. The financial statements and related financial information should be read in conjun