Laird Superfood Inc. 2025年季度报告

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ TABLE OF CONTENTS Part I. Financial Information Item 1. Financial Statements Unaudited Consolidated Condensed Balance SheetsUnaudited Consolidated Condensed Statements of OperationsUnaudited Consolidated Condensed Statements of Stockholders’EquityUnaudited Consolidated Condensed Statements of Cash FlowsNotes to Unaudited Consolidated Condensed Financial Statements Item 2. Management’s Discussion and Analysis of Financial Conditions and Results of Operations24 Item 3. Quantitative and Qualitative Disclosures About Market Risk Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Signatures Laird, our logo and other trademarks or service marks appearing in this report are the property of Laird Superfood, Inc. Tradenames, trademarks and service marks of other companies appearing in this report are the property of their respective owners.Solely for convenience, the trademarks, service marks and trade names included in this report are without the ®, or other Unless the context otherwise indicates, references to “Laird Superfood,” “we,” “our,” “us” and the “Company” refer to LairdSuperfood, Inc.and its subsidiary on a consolidated basis. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws.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 areopen 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 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 results ●our limited operating history and ability to become profitable; ●our ability to manage our growth, including our human resource requirements; ●our reliance on third parties for raw materials and production of our products; ●our future capital resources and needs; ●our ability to retain and grow our customer base; ●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; ●risks related to our intellectual property rights and developing a strong brand; ●our reliance on key personnel, including Laird Hamilton and Gabrielle Reece; ●regulatory risks; ●the risk of substantial dilution from future issuances of our equity securities; ●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,which are inherently unreliable and speak only as of the date of this Quarterly Report on Form 10-Q. You should read thisQuarterly 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 LAIRD SUPERFOOD, INC.Notes to Unaudited Consolidated Condensed Financial Statements 1.Summary of Significant Accounting Policies and Estimates Financial Statement Preparation Theaccompanying 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 w