Filing Flows › Stran & Company (SWAGW) › Q2 2026 › vs Q2 2025
Stran & Company (SWAGW) Q2 2026 vs Q2 2025 (year over year)
Stran & Company's revenue rose $781K (+2%) from $32.6M in Q2 2025 to $33.4M in Q2 2026. The biggest changes: Promotional products - dropshipping +$1.7M (+14%); Promotional products – bulk dropshipping −$1.0M (-29%); Promotional products – Company owned inventory +$376K (+9%). Gross margin 30.0% against 30.3% (-0.3 pts).
Stran & Company, Q2 2026: revenue $33.4M (+2% year over year), operating margin 0.3%, net earnings $309K, operating cash flow $375K. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 30.0% | 30.3% | -0.3 pts |
| Operating margin | 0.3% | 1.2% | -1.0 pts |
| Net margin | 0.9% | 2.0% | -1.0 pts |
| Free cash flow margin | 1.1% | 19.5% | -18.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Promotional products - dropshipping | $13.7M | $12.0M | $1.7M | +14% |
| Casino continuity program | $10.1M | $10.2M | −$101K | -1% |
| Promotional products – Company owned inventory | $4.7M | $4.3M | $376K | +9% |
| Promotional products – bulk dropshipping | $2.5M | $3.6M | −$1.0M | -29% |
| Promotional products – third-party distributor | $1.9M | $2.1M | −$241K | -11% |
| Rewards program | $266K | $365K | −$99K | -27% |
| Additional services | $253K | $80K | $173K | +216% |
| Revenue | $33.4M | $32.6M | $781K | +2% |
| Gross profit | $10.0M | $9.9M | $153K | +2% |
| Cost of revenue | $23.3M | $22.7M | $628K | +3% |
| Other income, net | $242K | $362K | −$120K | -33% |
| Operating profit | $86K | $395K | −$309K | -78% |
| Operating expenses | $9.9M | $9.5M | $462K | +5% |
| Pre-tax earnings | $328K | $757K | −$429K | -57% |
| Net earnings | $309K | $643K | −$334K | -52% |
| Income tax | $19K | $114K | −$95K | -83% |
| Depreciation & amortization | $290K | $249K | $41K | +16% |
| Share-based compensation | $35K | $31K | $4K | +13% |
| Working capital & other | $259K | −$5.5M | $5.8M | — |
| Operating cash flow | $375K | $6.4M | −$6.0M | -94% |
| Free cash flow (OCF − capex) | $358K | $6.3M | −$6.0M | -94% |
| Capital expenditures | $17K | $78K | −$61K | -78% |
Questions
How much did Stran & Company's revenue grow year over year in Q2 2026?
Stran & Company's revenue rose $781K (+2%) from $32.6M in Q2 2025 to $33.4M in Q2 2026.
What drove Stran & Company's revenue change in Q2 2026?
Promotional products - dropshipping +$1.7M (+14%); Promotional products – bulk dropshipping −$1.0M (-29%); Promotional products – Company owned inventory +$376K (+9%).