Stran & Company, Inc. (STRN) Q1 2022 Earnings Conference Call May 13, 2022 10:00 AM ET

Company Participants

David Waldman - IR

Andy Shape - CEO

Chris Rollins - CFO

Conference Call Participants

Edward Reilly - EF Hutton

Operator

Good morning, ladies and gentlemen. Thank you for standing by. And welcome to the Stran & Company First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After management’s prepared remarks, there will be a question-and-answer session.

I would now like to turn the floor over to the host, David Waldman, Investor Relations. Please go ahead.

David Waldman

Good morning, everyone. And thank you for joining Stran & Company's 2022 first quarter financial results conference call. On the call with us today are Andy Shape, Chief Executive Officer and Chris Rollins, Chief Financial Officer.

The company issued a press release today, Friday, May 13, 2022 containing first quarter financial results which is also posted on the company's website. If you have any questions after the call, or would like any additional information about the company, please contact Crescendo Communications at 212-671-1020. The company's management will now provide prepared remarks reviewing the financial and operational results for the three months ended March 31, 2022.

Before we get started, we would like to remind everyone that during this conference call, we may make forward-looking statements regarding timing and financial impact of Stran's ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Stran's control.

With that, I will now turn the call over to Andy Shape, Chief Executive Officer. Please go ahead, Andy.

Andy Shape

Thank you, David. And thank you everyone else for joining today, as we discuss our significant progress made during the first quarter. First, I’d like to highlight that we achieved a record revenue of $12.3 million for the first quarter of 2022, an increase of 62.5% when compared to Q1, 2021. Even more important, excluding the G.A.P. Promotions acquisition, our organic revenue increased 50.8% over the same period last year. And we have maintained a solid balance sheet with $30 million in cash reserves and long-term debt as of March 31, 2022.