Laird Superfood, Inc. (LSF) Income Statement
LSF 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLSF revenue and net income
Where LSF's revenue goes
2025Each bar shows an amount and its share of revenue. LSF kept −6.5% of revenue as net income.
LSF profit margins
LSF growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +15.2% | +11.7% | +14.1% | — |
| Gross profit | +6.9% | +53.9% | +23.5% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LSF quarterly EPS vs estimates
Laird Superfood beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 9, 2026 (estimate $0.00).
LSF income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $49.9M | $43.3M | $34.2M | $35.8M | $36.8M | $25.8M | $13.1M | $8.3M |
| Cost of revenue | $31.0M | $25.6M | $23.9M | $30.6M | $27.4M | $19.2M | $8.0M | $5.6M |
| Gross profit | $18.9M | $17.7M | $10.3M | $5.2M | $9.4M | $6.6M | $5.1M | $2.7M |
| Research & development | — | — | $219,723 | $427,537 | $1.0M | $508,170 | $324,284 | $119,487 |
| Sales, general & admin | $13.2M | $15.5M | $20.8M | $28.7M | $32.3M | $19.0M | $13.5M | $11.0M |
| Total operating expenses | $22.3M | $19.9M | $21.0M | $45.6M | $33.4M | $19.5M | $13.8M | $11.1M |
| Operating income | −$3.4M | −$2.2M | −$10.7M | −$40.4M | −$24.0M | −$12.9M | −$8.8M | −$8.4M |
| Interest income | — | — | — | — | $48,700 | $64,943 | $198,020 | $29,940 |
| Interest expense | — | — | — | $32.8M | $48,704 | $64,943 | $48,816 | $48,228 |
| Income before taxes | −$3.2M | −$1.8M | −$10.1M | −$40.3M | −$23.9M | −$12.9M | −$8.5M | −$8.5M |
| Income taxes | $20,746 | $60,324 | $15,195 | $20,269 | $17,834 | $1.7M | $48,816 | $18,288 |
| Net income | −$3.3M | −$1.8M | −$10.2M | −$40.3M | −$23.9M | −$12.9M | −$8.5M | −$8.5M |
| EBITDA | −$3.0M | −$1.5M | −$9.8M | −$22.8M | −$23.0M | −$12.4M | −$8.2M | −$8.3M |
| EPS (diluted) | −$0.31 | −$0.18 | −$1.09 | −$3.21 | −$2.65 | −$1.20 | −$1.52 | −$0.96 |
| Gross margin | 37.9% | 40.9% | 30.1% | 14.5% | 25.6% | 25.5% | 38.8% | 32.1% |
| Operating margin | −6.8% | −5.0% | −31.3% | −112.7% | −65.1% | −50.1% | −66.8% | −101.7% |
| Net margin | −6.5% | −4.2% | −29.7% | −112.6% | −64.8% | −49.8% | −64.9% | −102.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.3M | $13.9M | $13.3M | $3.0M | $12.0M | $11.7M | $11.6M | $11.8M | $10.0M | $9.9M | $9.2M | $9.2M |
| Cost of revenue | $28.8M | $9.3M | $8.8M | −$1.7M | $7.2M | $6.8M | $7.1M | $6.7M | $5.8M | $5.9M | $5.5M | $6.3M |
| Gross profit | $12.5M | $4.6M | $4.5M | $4.7M | $4.7M | $4.9M | $4.5M | $5.1M | $4.2M | $4.0M | $3.7M | $2.8M |
| Research & development | — | — | — | — | — | — | — | — | — | — | $13,410 | $40,123 |
| Sales, general & admin | $14.4M | $7.7M | $606,722 | $3.5M | $5.2M | $5.1M | $3.7M | $5.3M | $4.5M | $5.1M | $2.8M | $5.6M |
| Total operating expenses | $14.4M | $7.7M | $6.3M | $7.4M | $5.1M | $5.1M | $5.0M | $5.3M | $4.5M | $5.1M | $3.7M | $5.6M |
| Operating income | −$1.9M | −$3.0M | −$1.8M | −$2.7M | −$399,477 | −$218,019 | −$477,319 | −$268,590 | −$338,621 | −$1.1M | $46,170 | −$2.8M |
| Interest expense | — | — | — | — | — | — | $91,298 | — | — | — | $170,994 | — |
| Income before taxes | −$1.8M | −$3.0M | −$1.8M | −$967,935 | −$353,916 | −$143,571 | −$386,021 | −$160,699 | −$235,552 | −$977,565 | $144,946 | −$2.7M |
| Income taxes | −$2,250 | −$4.7M | −$7,258 | $7,131 | $8,262 | $12,611 | $12,422 | $5,421 | $3,524 | $38,957 | $2,023 | $111,079 |
| Net income | −$1.8M | $1.8M | −$1.8M | −$975,066 | −$362,178 | −$156,182 | −$398,443 | −$166,120 | −$239,076 | −$1.0M | $142,923 | −$2.7M |
| EBITDA | −$810,548 | −$2.8M | −$1.7M | −$907,798 | −$294,541 | −$77,050 | −$320,169 | −$94,859 | −$168,408 | −$906,130 | $216,097 | −$2.6M |
| EPS (diluted) | $0.06 | $0.11 | −$0.17 | −$0.09 | −$0.03 | −$0.02 | −$0.03 | −$0.02 | −$0.02 | −$0.11 | $0.02 | −$0.28 |
| Gross margin | 30.3% | 33.3% | 34.1% | 156.8% | 39.6% | 41.9% | 38.6% | 43.0% | 41.8% | 40.0% | 40.4% | 31.0% |
| Operating margin | −4.5% | −21.7% | −13.5% | −90.0% | −3.3% | −1.9% | −4.1% | −2.3% | −3.4% | −11.0% | 0.5% | −30.4% |
| Net margin | −4.4% | 12.6% | −13.2% | −32.5% | −3.0% | −1.3% | −3.4% | −1.4% | −2.4% | −10.3% | 1.6% | −28.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LSF's financial statements (latest annual report filed March 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LSF financial results
In fiscal year 2025 (ended December 31, 2025), Laird Superfood reported revenue of $49.9 million, up 15.2% from the year before. It had a net loss of $3.3 million, a net profit margin of −6.5%. Diluted earnings per share came to −$0.31. Over five years revenue grew at an average rate of 14.1% a year.
See the LSF stock overview for the latest quote and news, or the LSF chart for price history and technical indicators.
LSF income statement FAQ
What is Laird Superfood's annual revenue?
Laird Superfood reported total revenue of $49.9 million for fiscal year 2025, which ended on December 31, 2025. That was up 15.2% from $43.3 million the previous year.
Is Laird Superfood profitable?
No. Laird Superfood reported a net loss of $3.3 million in fiscal 2025, a net profit margin of −6.5%; its operating margin was −6.8%.
What is Laird Superfood's gross margin?
Laird Superfood's gross margin was 37.9% in fiscal 2025: for every $100 of revenue, Laird Superfood kept $38 after the direct cost of its products and services.
How fast is Laird Superfood growing?
Revenue grew 14.1% a year on average over the last five fiscal years, from $25.8 million to $49.9 million.
What are Laird Superfood's earnings per share?
Laird Superfood earned $-0.31 per diluted share in fiscal 2025, compared with $-0.18 a year earlier.
When will Laird Superfood report its next earnings?
Laird Superfood is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Laird Superfood's fiscal year end?
Laird Superfood's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 30, 2026.