Laird Superfood Inc. (NYSE American: LSF) reported fourth-quarter and fiscal year ended Dec. 31, 2020. Fourth quarter net sales were $7.3 million, an increase of 75% year over year.
Online sales contributed 61% of net sales, with lairdsuperfood.com sales growing 170% year over year, and subscribers growing 184%.
Wholesale sales contributed 37% of net sales, increasing 45% year over year, as retail door expansion reached approximately 7,100 locations.
Laird reported a $4.5 million loss from operations in the fourth quarter of 2020, compared with a loss of $2.2 million in the prior year period.
For the year, net sales increased 98% to $26 million, compared with $13.1 million in 2019. Loss from operations in 2020 was $12.9 million, compared with $8.8 million in the prior year.
Laird Superfood makes plant-based superfood products, including nondairy creamers. The company was cofounded in 2015 by prolific big-wave surfer Laird Hamilton.