AcquisitionsMay 14, 2026, 04:53 PM
Laird Superfood Acquires Navitas for $40.9M; Q1 Net Income $1.75M
AI Summary
Laird Superfood, Inc. completed the acquisition of Navitas LLC for $40.9 million in cash on March 12, 2026, expanding its product portfolio and distribution. The acquisition was funded by a $50.0 million issuance of Series A Preferred Stock. For the three months ended March 31, 2026, the company reported a net income of $1.75 million, a significant improvement from a net loss of $0.16 million in the prior year, primarily due to a $4.7 million deferred income tax benefit related to the Navitas acquisition. Net sales increased to $13.94 million from $11.65 million year-over-year.
Key Highlights
- Acquired Navitas LLC for $40.9 million in cash on March 12, 2026.
- Issued 50,000 shares of Series A Preferred Stock for $50.0 million gross proceeds to fund the acquisition.
- Reported Q1 2026 net income of $1.75 million, compared to a net loss of $0.16 million in Q1 2025.
- Net sales for Q1 2026 increased to $13.94 million from $11.65 million in Q1 2025.
- Recognized a $4.7 million deferred income tax benefit due to the Navitas acquisition.
- Goodwill of $16.7 million and identifiable intangible assets of $20.0 million were recorded from the acquisition.
- Cash, cash equivalents, and restricted cash increased to $10.52 million as of March 31, 2026, from $5.32 million at December 31, 2025.
- Total assets increased to $74.88 million as of March 31, 2026, from $19.22 million at December 31, 2025.
Price Impact
More from LSF