Olivier Colombo joins Adam Wilk to have a conversation with CEO Jason Vieth and CFO Anya Hamill of Laird Superfood (LSF). This MicroCap Business Breakdowns discussion took place live on April 2nd, 2025, on the MicroCapClub Community. https://microcapclub.com/join-now/

Laird Superfood is an emerging consumer products platform focused on manufacturing and marketing highly differentiated plant-based and functional foods. The Laird Superfood brand is increasingly recognized and trusted by a growing number of consumers. The core pillars of the Laird Superfood platform are currently Superfood Creamer coffee creamers, Hydrate hydration products and beverage enhancing supplements, and roasted and instant coffees, teas and hot chocolate. All products are plant-based, clean, with functional ingredients that are on trend with consumers.

LSF IPO’d on the Nasdaq in late 2020 at $22 per share, and quickly ascended to $60 per share. It was a prime example of the “growth at all costs” boom at that time. In 2022, LSF produced $35 million in sales and lost $24 million. The stock fell from $60 per share to $2 per share.

In 2022, CEO Jason Vieth and CFO Anya Hamill stepped in to turn the company around. Both executives came from WhiteWave which was acquired by Danone in 2017. Ironically Danone also invested $10 million in the LSF IPO. The duo has produced a remarkable turnaround. In two years, the company has gone from losing $24 million on $35 million in sales, to producing positive cash flow on $43 million in sales.

A category leading, authentic consumer products company that makes money is rare to find in a sub-$100 million public company. The peer group trades at 1-3x sales, with the higher multiples going to companies that are growing double digits and profitable. Management gave guidance for 20-25% growth in 2025. https://lairdsuperfood.com

MicroCap Business Breakdowns (MCBB), powered by MicroCapClub, is a monthly program where we invite leaders of unique microcap businesses to have in depth conversations with the MicroCapClub member/investor that knows the business best. In each conversation we look to drill down into the history, business, strategy, vision, and bull/bear case. The MicroCapClub community can tune in live and ask questions. We publicize each episode 1-2 weeks after the live discussion. https://microcapclub.com

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