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With closing of Navitas acquisition earlier this month, Laird Superfood is a transformed company, and it's armed and ready to do further deals. That was message from CEO Jason Vieth yesterday afternoon as Colo-based marketer of creamers and other superfood products reported Q4 and full year 2025 in which core biz navigated tariffs and supply chain snarls to score solid 15% gain, tho losses widened a bit. Acquired for $38.5 mil, Navitas will add roughly $50 mil to annual topline tally. While addition of deal-financing Nexus Capital as controlling shareholder with 56% stake left some shareholders disgruntled at dilution, Vieth was direct in saying their current pain is worth the future gain. "We are very transparent about that dilution because it is being exchanged for something that we believe is far more valuable: the immediate addition of a profit-accretive business that we believe will strengthen our overall earnings power and cash flow generation going forward," he said. "In short, we expect to be trading some ownership percentage today for a much larger, higher-quality earnings stream tomorrow." Recall that Nexus kicked in $50 mil via private placement to finance Navitas pickup and is prepared to contribute another $60 mil to foment further deals over coming year, should right opportunities present themselves. The vision, as Vieth put it, is to become "the leading superfood business in the country."Laird Superfood, of course, was launched out of Sisters, Ore, by big-wave surfer Laird Hamilton and his volleyball-star wife Gabrielle Reece as mushroom-based creamer that's gone on to considerable diversification - not without logistics snarls that sent their original CEO packing. Recruited as more seasoned leader, WhiteWave Foods vet Vieth shuttered self-production in Sisters, relocated co to his own Colo base and added more rigorous approach to everything from DTC spend to copacking network. LSF seemed to be gliding toward solid growth and profitable operation off modest sales base when he shocked investors with Navitas/Nexus deal.In Q4 net sales grew 15% to $13.3 mil, not including Navitas sales. Largest segment, coffee creamers, enjoyed 24.3% boost to $8.1 mil. Among key channels, ecomm was off 6% to $6.4 mil on weakness in DTC platform, where LSF has rationalized spending, but Amazon continued to grow and will be workhorse going forward, Vieth indicated. Wholesale arena that reps key growth vehicle enjoyed 44% sales gain to $7 mil on distribution expansion and velocity improvement in grocery and club channels. Addition of revamped refrigerated liquid creamer, after coupla years of fumbling with earlier versions, should provide key boost going forward. So should new Protein Coffee, so far ensconced in single natural chain but ripe for expansion. Gross margin contracted to 34.1% from 38.6% a year earlier on commodity inflation and tariffs. While Navitas brands have blended margin that's lower than that of Laird, Vieth and CFO Anya Hamill said they anticipated getting overall margin back into high 30s after coupla quarters of integration efforts. Adjusted EBITDA loss widened to $400K from $200K.For full year, again excluding Navitas, net sales rose 15% to $49.9 mil. Operating loss widened to $3.4 mil from $2.2 mil a year earlier.Challenging prior year "proved we can grow through turbulence, and 2026 is going to be the year that we show what a true, scaled superfood platform can achieve," Vieth assured investors. That scale could grow further if right acquisition targets are found.

With Navitas in Bag, Laird Superfood Ready to Do More Deals with Nexus' Backing, Declares CEO Vieth; Closes 2025 with 15% Growth in Q4 as Wholesale Push Advances

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