Laird Superfood, Inc. · AMEX:LSF
Laird Superfood — Q1 2021 Earnings Presentation
25 slides from Laird Superfood's earnings presentation, May 13, 2021
Slide 1: First Quarter Financial Highlights
L AIRD SUPERFOOD First Quarter Financial Highlights
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 1Q21 Financial Performance P3
Slide 4: Intro to Laird Superfood
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 INTRO TO LAIRD SUPERFOOD Laird Superfood is an emerging consumer products platform focused on manufacturing and marketing highly differentiated plant-based and functional foods. Our Catalysts Coffee Creamer Online Sales Engine Recurr
Slide 5: 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. P5
Slide 6: 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 7: Board of Directors
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 BOARD OF DIRECTORS PAUL HODGE JR. (CEO/CO- Mr. Hodge co-founded Laird Superfood and has served as our President and Chief FOUNDER) Executive Officer since inception. LAIRD HAMILTON (CO-FOUNDER) Mr. Hamilton co-founded Laird Superfood
Slide 8: 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 9: 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 P9
Slide 10: The Laird Superfood Platform
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THE LAIRD SUPERFOOD PLATFORM 2021 | 60 SKUs Powdered Creamers Coffee & Instant Beverages Liquid Creamers InstaFuel Beverage Enhancing Supplements Hydrate Plant-Based Protein Pili Nuts Harvest Dates Picky Bars Picky Bars Oats, Granola
Slide 11: The Platform – Functional Superfood Creamers
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THE PLATFORM – FUNCTIONAL SUPERFOOD CREAMERS At-a-Glance • $4B Creamer TAM • Gross Sales 2021 – YTD1Q21: $5.0M, 68% of total • YoY Growth 2020 – YTD1Q21: 25% • Approximate cost per serving: $0.35 Product Coffee Creamers: Coconut-base
Slide 12: 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 2021 – YTD1Q21: $1.1M, 14% of total • YoY Growth 2020 – YTD1Q21: 24% • Approximate cost per serving: $0.70 Product • All-natura
Slide 13: 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 Coffee TAM • Gross Sales 2021 – YTD1Q21: $1.9M, 26% of total • YoY Growth 2020 – YTD1Q21: 157% • Approximate cost per serving: $0.50 Product • Leading the 4th wav
Slide 14: The Platform – Healthy Snacks
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 THE PLATFORM – HEALTHY SNACKS Picky Bar Acquisition • Deal closed 5/3/21 • $12M purchase price, ~1.2x 2022E Revs • Supportive of path to an improving gross margin profile • Closely aligned with LSF vision and mission • Founded in 201
Slide 15: 1Q21 Financial Performance
1Q21 Financial Performance P15
Slide 16: For the Three Months Ended March 31, 2021
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 FOR THE THREE MONTHS ENDED MARCH 31, 2021 Three Months Ended March 31, 1Q21 $7.4M • Net Sales increased to $7.4M, an increase of Net Sales 35% YoY. 4Q20 $7.3M 1Q20 $5.5M • Online sales contributed 59% of net sales, with lairdsuperfoo
Slide 17: At-a-Glance – Financial Highlights
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 LAIRD SUPERFOOD AT-A-GLANCE – FINANCIAL HIGHLIGHTS 1Q21 Net Sales $7.4M YoY Sales Growth 35% Gross Margin 25.1% 1Q20 Net Sales $5.5M YoY Sales Growth 120% Gross Margin 38.6% P17
Slide 18: Recent Sales Performance
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 RECENT SALES PERFORMANCE Quarterly Net Sales Performance ($USD in millions) $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 $1.0 $- Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20
Slide 19: Product Overview
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 LAIRD SUPERFOOD PRODUCT OVERVIEW Hydration and Beverage Coffee, Tea and Coffee Creamers Enhancing Supplements Hot Chocolate Products Q1’21 Q1‘20 Q1’21 Q1‘20 Q1’21 Q1’20 Gross $5.0M $4.0M $1.1M $0.9M $1.9M $0.7M Revenue FY FY FY FY FY
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 • In 2021, the Company partnered with First Environment, a third-party independent agency, that will help monitor the greenhouse gas impact of its DTC order shipments, with the ultimate
Slide 22: First Quarter Highlights
LAIRD SUPERFOOD THIRD QUARTER 2020 FINANCIAL RESULTS NOVEMBER 2020 FIRST QUARTER HIGHLIGHTS Revenue Trends Gross Profit Net Loss Net Sales increased to $7.4M, an Gross profit was $1.9M and gross Net loss attributable to common increase of 35% YoY. margin was 25.1%, compared to stockholders was $5.3
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 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