The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: George Kelly - Roth Capital Partners LLC - Analyst
: Hey everybody, thanks for taking my questions. First for you, I'm not sure how much you're wanting to give here, but just a couple of questions
on the financials. Can you be more specific on the growth. I think you said double digits. Just wondering, if you can give any more on that?
And is the business profitable?
Question: George Kelly - Roth Capital Partners LLC - Analyst
: Okay. And then second question for me just on the channel mix. Is there a channel mix quite a bit different than yours? Like how big is their
online business? And it sounds like they have a decent price club business. Just curious sort of how that contrasts with yours?
And is there a big opportunity, if that's the case for you to just to sort of better cross-sell into each other's respective customer bases.
Question: George Kelly - Roth Capital Partners LLC - Analyst
: Okay. And then maybe just 1 more back to Eric was asking questions. It was about your go-forward acquisition strategy. And maybe to ask
a slightly different version. And not to get too granular on kind of areas you're targeting or anything like that, but just high level, maybe
longer term, this is a big transaction and that second sort of slug of equity that you're contemplating these are big numbers.
And so I guess the question is, it seems like is this really sort of a central focus? Is this really sort of a management priority is just scaling up
quickly? How aggressive should we think like I guess maybe the direct question is just what is your medium kind of longer term or longer-term
goals with respect to size and how quickly you want to get there. Was that I don't know, if that's clear.
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DECEMBER 22, 2025 / 9:30PM, LSF.A - Laird Superfood Inc To Acquire Navitas LLC
Question: George Kelly - Roth Capital Partners LLC - Analyst
: I understand just trying to kind of set expectations, I guess, around how quickly you want to keep doing similar deals?
Question: George Kelly - Roth Capital Partners LLC - Analyst
: Thank you. Good to talk to you, George.
Question: Anthony Vendetti - Maxim Group LLC - Analyst
: Thank you. Yeah, Jason, maybe just following up on the M&A question, then I just have a couple of questions regarding Navitas. So when
you mentioned that, obviously, you're going to take a pause, obviously, makes sense, but are you going to wait until you fully integrate the
acquisition before pulling the trigger on another one? Or how long do you think this integration will take?
And maybe just talk about what the steps are, whether it's back office or warehousing to integrate that, maybe their HR or ER system,
whatever they have just maybe give a little bit of a time line there, if you could.
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DECEMBER 22, 2025 / 9:30PM, LSF.A - Laird Superfood Inc To Acquire Navitas LLC
Question: Anthony Vendetti - Maxim Group LLC - Analyst
: Okay. And then just in terms of the number of storefronts that Navitas is in and/or the number of SKUs that they currently have? And then
if in terms of the SKUs. Are there any that you think don't make sense going forward? Or you're like, hey, this is all additive and we'll look
to use that as a platform to grow.
Question: Anthony Vendetti - Maxim Group LLC - Analyst
: And maybe just last question, and then I'll jump back in the queue. Just in terms of your current customers, have you spoken to any of them
about what they would think about the combined companies and how they would view it. And just in terms of they would look at this as a
positive and if so, what do you think the business benefit other than, obviously, you're adding in a category that makes sense. What are
those cross-selling opportunities, if you've had those conversations with customers so far?
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DECEMBER 22, 2025 / 9:30PM, LSF.A - Laird Superfood Inc To Acquire Navitas LLC
Question: Anthony Vendetti - Maxim Group LLC - Analyst
: Okay, Excellent. Thanks so much. I appreciate all the color.
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