Laird sales boosted by Navitas acquisition

BOULDER — Laird Superfood Inc. (NYSE: LSF) reported first-quarter net sales of $13.9 million and 20% year-over-year growth Wednesday, propelled by its acquisition of Navitas Organics in March.

“The first quarter of 2026 marked a transformative period for Laird Superfood,” CEO Jason Vieth said in a prepared statement, noting that with Navitas, the company added “one of the most trusted names in the superfood category to our platform, and followed that shortly after quarter-end with the acquisition of Terrasoul Superfoods in April — establishing Laird Superfood as a scaled, multi-brand superfood platform.

“Our combined business continued to deliver strong top-line momentum, with net sales growing 20% vs. last year, driven by wholesale growth, continued strength on Amazon, and the inclusion of Navitas Organics,” Vieth said. “We are now focused on executing our integration playbook across all three businesses, capturing synergies, and building the infrastructure to support long-term profitable growth. While near-term results will reflect the costs and complexity of integrating two acquisitions in quick succession, we are confident in our strategic position and ability to create lasting value for our customers, partners, and shareholders.”

Laird’s first-quarter net sales of $13.9 million were up from $11.7 million in the same quarter last year and included $1.6 million from Navitas. E-commerce sales increased by 4% year-over-year and contributed 46% of total met sales, led by the addition of Navitas sales and strong sales growth on Amazon but offset in part by softness in the direct-to-consumer channel.

Wholesale sales increased by 37% year-over-year and contributed 54% of total net sales, again driven by the addition of Navitas sales, distribution and product assortment expansion, as well as velocity improvement in grocery and club outlets.

Gross margin was 33.3% compared with 41.9% in the same quarter last year. The company attributed about 5.4 percentage points of that to “unfavorable channel and product mix, inflationary commodity costs, as well as the impact of import tariffs on certain input costs.” Also, “approximately 3.2 percentage points of this contraction was driven by a timing-related inventory costing benefit in the prior year period that did not recur.”

Net income was $1.8 million, or 12 cents per basic share, compared with a net loss of $2 million in the same quarter last year.

Laird Superfood shares closed Friday at $2.96, down 20 cents, or 6.33%.

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