Stran & Company reported preliminary selected unaudited results for the nine months ended September 30, 2024, on December 23, 2024. The company expects revenue to grow approximately 7.8% to $57 million compared to the same period in 2023.
The company confirmed the completion of its acquisition of the strategic assets of Gander Group, a leader in casino continuity and loyalty programs, which generated over $34 million in revenue in 2023. This acquisition is expected to create significant cross-selling opportunities and operational efficiencies.
As of September 30, 2024, Stran maintained a strong balance sheet with approximately $17 million in cash equivalents and investments and no long-term debt. The reduction in cash reflects the strategic investment in the Gander acquisition, with no plans to raise capital for operations or growth initiatives.
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