Stran & Company acquires assets of Gander Group™, projecting 7.8% revenue growth for 2024.
Quiver AI Summary
Stran & Company, Inc. has completed the acquisition of strategic assets from Gander Group™, which specializes in casino continuity and loyalty programs, generating over $34 million in revenue in 2023. This acquisition is expected to provide cross-selling opportunities and operational efficiencies that will contribute to Stran's revenue growth, projected to increase by approximately 7.8% to $57 million for the nine months ending September 30, 2024, compared to the previous year. Stran's President and CEO, Andy Shape, emphasized their ongoing growth strategy and prudent expense management, noting that the company retains a strong balance sheet with $17 million in cash equivalents and no long-term debt. The company plans to continue integrating Gander's operations into its existing framework while maintaining a focus on client relationships and brand loyalty. Further financial updates are expected in the coming weeks.
Potential Positives
- Completed the acquisition of strategic assets from Gander Group™, a recognized leader in casino continuity and loyalty programs, which had generated over $34 million in revenue in 2023.
- Revenue for the first nine months of 2024 is expected to grow approximately 7.8%, reaching an anticipated $57 million compared to the same period in 2023.
- Maintained a strong balance sheet with approximately $17 million in cash equivalents and no long-term debt, indicating financial stability.
- Integration of Gander Group’s assets is expected to create significant cross-selling opportunities and operational efficiencies, enhancing revenue growth and margin improvement.
Potential Negatives
- Acquisition of Gander Group™ may indicate a reliance on external growth strategies rather than organic growth, raising questions about the company's long-term sustainability.
- Projected revenue increase of 7.8% may not be strong enough to alleviate investor concerns about the overall growth trajectory, given it's only a modest gain.
- The preliminary and unaudited status of the financial results introduces uncertainty, potentially undermining investor confidence until final audited results are released.
FAQ
What strategic assets has Stran acquired recently?
Stran has completed the acquisition of assets from Gander Group™, enhancing its capabilities in casino continuity and loyalty programs.
What is the expected revenue growth for Stran in 2024?
Stran projects an approximate revenue increase of 7.8%, reaching $57 million for the first nine months of 2024.
How does the Gander acquisition affect Stran's operations?
The Gander acquisition is expected to create significant cross-selling opportunities and operational efficiencies, driving revenue growth and improved margins.
What is Stran's financial status following the acquisition?
Stran maintains a strong balance sheet with approximately $17 million in cash equivalents and no long-term debt as of September 30, 2024.
Where can I find more information about Stran?
Additional information about Stran and its services is available on their official website at www.stran.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SWAG Hedge Fund Activity
We have seen 5 institutional investors add shares of $SWAG stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 35,397 shares (-100.0%) from their portfolio in Q3 2024
- KANEN WEALTH MANAGEMENT LLC removed 16,206 shares (-100.0%) from their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC removed 13,801 shares (-14.9%) from their portfolio in Q3 2024
- CITADEL ADVISORS LLC added 10,892 shares (+inf%) to their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 8,600 shares (+34.4%) to their portfolio in Q3 2024
- VANGUARD GROUP INC added 8,497 shares (+4.2%) to their portfolio in Q3 2024
- TOWER RESEARCH CAPITAL LLC (TRC) removed 5,365 shares (-62.8%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Completed acquisition of strategic assets of Gander Group™
Revenue expected to grow approximately 7.8% compared to the first nine months of 2023
Quincy, MA, Dec. 23, 2024 (GLOBE NEWSWIRE) --
Stran & Company, Inc.
("Stran" or the "Company") (NASDAQ: SWAG) (NASDAQ: SWAGW), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today reported preliminary selected unaudited results for the nine months ended September 30, 2024.
“During the quarter, we continued to execute on our growth strategy, including securing significant contracts with leading customers as well as acquiring strategic assets that complement and improve our operations,” commented Andy Shape, President and CEO of Stran. “Specifically, we completed the acquisition of assets of Gander Group™, a recognized leader in casino continuity and loyalty programs, generating over $34 million in revenue in 2023. By integrating Gander Group’s assets in the gaming, casino, and entertainment sectors with our established operational infrastructure and customer base, we anticipate significant cross-selling opportunities and operational efficiencies that will drive revenue growth and improve margins. While we are working to fully integrate Gander into Stran, we project our revenue to increase by approximately 7.8% to $57 million for the nine months ended September 30, 2024 compared to the same period in 2023. Importantly, we have continued to prioritize prudent expense management, maintaining a strong balance sheet with approximately $17 million in cash equivalents and investments and no long-term debt as of September 30, 2024. The reduction in cash reflects our strategic investment in the Gander acquisition and we have no need or plan to raise capital to support our operations or ongoing growth initiatives. Lastly, we are finalizing our financial statements and look forward to sharing further updates in the coming weeks.”
The selected unaudited results in this press release are preliminary and subject to the completion of accounting and interim review procedures and are therefore subject to adjustment.
About Stran
For over 29 years, Stran has grown to become a leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products, branded merchandise, and loyalty incentive programs as a tool to drive awareness, build brands and impact sales. Stran is the chosen promotional programs manager of many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive, sponsorship activation, recruitment, retention, and wellness campaigns. Stran provides world-class customer service and utilizes cutting-edge technology, including efficient ordering and logistics technology to provide order processing, warehousing and fulfillment functions. The Company’s mission is to develop long-term relationships with its clients, enabling them to connect with both their customers and employees in order to build lasting brand loyalty.
Additional information about the Company is available at:
www.stran.com
.
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Contacts:
Investor Relations Contact:
Crescendo Communications, LLC
Tel: (212) 671-1021
SWAG@crescendo-ir.com
Press Contact:
Howie Turkenkopf
press@stran.com
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