Laird Superfood, Inc. · AMEX:LSF
Laird Superfood — Q3 2020 Earnings Presentation
25 slides from Laird Superfood's earnings presentation, Nov 12, 2020
Slide 1: Laird Superfood Third Quarter 2020 Financial Results
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020
Slide 2: Cautionary Statement
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 CAUTIONARY STATEMENT Cautionary “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This presentation and the accompanying oral presentation contain “forward- looking” statements that are based on the
Slide 3: Agenda
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 AGENDA 1 Who We Are 2 Mission & Vision 3 Our Platforms 4 3Q20 Financial Performance P3
Slide 4: Intro to Laird Superfoods
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 INTRO TO LAIRD SUPERFOODS Laird Superfood is an emerging consumer products platform focused in manufacturing and marketing highly differentiated plant-based and functional foods. Our Catalysts Coffee Creamer Online Sales Engine Recur
Slide 5: For the Three Months Ended September 30, 2020
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2020 Three Months Ended Sept. 30, 3Q20 $7.6M • Net Sales increased to $7.6M, an increase of Net Sales 118% YoY. 3Q19 $3.5M 2Q20 $5.4M • Online sales contributed 49% of net sales, with lairdsup
Slide 6: Vision & Mission
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 VISION & MISSION Vision We believe better food leads to a better world. Mission To provide great tasting, high-quality, plant-based products that are healthy, convenient, affordable and available to all. P6
Slide 7: Founder-Led Management Team
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 FOUNDER-LED MANAGEMENT TEAM Laird Hamilton Gabrielle Reece Paul Hodge Valerie Ells Scott McGuire Chief Innovator | Chief Brand CEO | Co-Founder CFO COO Co-Founder Ambassador | Co-Founder • Board of Directors member • Laird Superfood
Slide 8: Board of Directors
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 BOARD OF DIRECTORS Mr. Hodge co-founded Laird Superfood and has served as our PAUL HODGE JR. (CEO/CO-FOUNDER) President and Chief Executive Officer since inception. LAIRD HAMILTON (CO-FOUNDER) Mr. Hamilton co-founded Laird Superfood.
Slide 9: Strategic Investment from Danone Manifesto Ventures
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 STRATEGIC INVESTMENT FROM DANONE MANIFESTO VENTURES Minority investment provides Laird Superfood with access to valuable CPG guidance, best practices and industry-specific expertise to help us GLOBAL EXPANSION capitalize on our growt
Slide 10: Investment Highlights
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 INVESTMENT HIGHLIGHTS PLATFORM AUTHENTIC PLANT-BASED OPEN-ENDED GROWTH OMNICHANNEL RECURRING REVENUE VERTICAL INTEGRATION P10
Slide 11: The Laird Superfood Platform
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THE LAIRD SUPERFOOD PLATFORM 2020 | 34 SKUs Powdered Creamers Hydrate InstaFuel * Beverage Enhancing Supplements Coffee & Instant Beverages Pili Nuts Liquid Creamers * * Release Pending P11
Slide 12: The Platform – New Products for 2020
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THE PLATFORM–NEW PRODUCTS FOR 2020 Liquid Creamers Pili Nuts Beverage Enhancing Supplements Organic Peruvian Coffee P12
Slide 13: The Platform – Functional Superfood Creamers
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THE PLATFORM – FUNCTIONAL SUPERFOOD CREAMERS At-a-Glance • $3B TAM • Gross Sales 2020 – YTD3Q20: $13.24M, 71% of total • YoY Growth 2019 – YTD3Q20: 123% • Approximate cost per serving: $0.35 Product Coffee Creamers: Coconut-based cre
Slide 14: The Platform – Hydration & Beverage Enhancing Supplements
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THE PLATFORM – HYDRATION & BEVERAGE ENHANCING SUPPLEMENTS At-a-Glance • $6.6B Hydration TAM • Gross Sales – YTD3Q20: $2.88M, 15% of total • YoY Growth – YTD3Q20: 95% • Approximate cost per serving: $0.70 Product • All-natural, coconu
Slide 15: The Platform – Coffee, Tea & Hot Chocolate Products
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THE PLATFORM – COFFEE, TEA & HOT CHOCOLATE PRODUCTS At-a-Glance • $89B TAM • Gross Sales – YTD3Q20: $4.17M, 22% of total • YoY Growth – YTD3Q20: 218% • Approximate cost per serving: $0.50 Product • Instafuel line of products offers c
Slide 16: 3Q20 Financial Performance
3Q20 Financial Performance LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 P16
Slide 17: Laird Superfood At-a-Glance – Financial Highlights
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 LAIRD SUPERFOOD AT-A-GLANCE – FINANCIAL HIGHLIGHTS YTD3Q20 YTD Sales $18.7M YTD Sales Growth 109.0% YTD Gross Margin 28.4% TTM3Q20 TTM 3Q ’20 Sales $22.9M TTM 3Q Sales Growth 106.0% TTM 3Q GM% 29.6% P17
Slide 18: Recent Sales Performance
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 RECENT SALES PERFORMANCE Quarterly Net Sales Performance ($USD in millions) $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 $1.0 $- Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20 Series 1 % 2018 2019 2020 Q1’18 Q2’18
Slide 19: Laird Superfoods Product Overview
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 LAIRD SUPERFOODS PRODUCT OVERVIEW Hydration and Beverage Coffee, Tea and Coffee Creamers Enhancing Supplements Hot Chocolate Products Q3'20 Q3’19 Q3‘20 Q3‘19 Q3’20 Q3’19 Gross $5.2M $2.2M $1.0M $0.6M $2.2M $0.6M Revenue YTD Q3 YTD Q3
Slide 20: Growth Drivers
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 GROWTH DRIVERS • Recurring online and wholesale sales. • Continued expansion of distribution footprint across online, wholesale and food service. Revenue • Increase brand awareness. • Maximize market penetration of existing products.
Slide 21: Sustainability and Eco-Consciousness Commitment
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 SUSTAINABILITY AND ECO-CONSCIOUSNESS COMMITMENT • Powder based products are dried at the source, which means water is not shipped across the ocean, resulting in a smaller overall carbon footprint. • This lowers per unit costs relativ
Slide 22: Third Quarter Highlights
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THIRD QUARTER HIGHLIGHTS Revenue Trends New Distributors Gross Profit Net Loss Net Sales increased to $7.6M, an Liquid creamer rolled out to more Gross profit was $1.9M and gross Net loss attributable to common increase of 118% YoY.
Slide 23: Long-Term Goals
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 LONG-TERM GOALS Gross Margin Mid 40.0%+ General & Administrative Margin Low Double Digits Sales & Marketing Margin Upper Teens Research & Development Margin Low Single Digits EBITDA Margin Mid-Teens P23
Slide 24: Conclusion and Q&A
Conclusion and Q&A LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 P24
Slide 25: Investment Summary
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 INVESTMENT SUMMARY PLATFORM AUTHENTIC PLANT-BASED OPEN-ENDED GROWTH OMNICHANNEL RECURRING REVENUE VERTICAL INTEGRATION P25