Counselor Top 40 distributor Stran Promotional Solutions (asi/337725) posted a 95.2% year-over-year increase in sales for Q2, reaching approximately $32.6 million, the publicly traded company reported in an earnings release.

Combined with its earnings increase in Q1, the Quincy, MA-based distributor has generated sales of $61.3 million in the first half of 2025 – an increase of 72.5%.

CEO Andy Shape, a Counselor Power 50 member and 2023 Counselor Person of the Year, stated that the firm’s gross profit was also up by 80% in the second quarter, and that organic sales grew by over 30%.

The company said its Stran Loyalty Solutions (SLS) segment, designed around its clients with casino continuity and loyalty incentives and stemmed from its acquisition of Gander Group a year ago in August, created about $3.1 million in new costs in 2024 but generated $10.8 million in sales for the quarter. Its Stran segment (not including SLS business) grew over 30% to $21.8 million.

Margins were impacted, decreasing to 30.3% from 32.8%, but the company attributed the decline to its SLS business, which it says operates at a lower margin than its Stran segment. Also, operating expenses increased 44% but declined as a percentage of sales to 29% from just under 40%.

“As we look ahead, our enhanced board, industry recognition and disciplined financial strategy have set the stage for continued growth and success.” Andy Shape, Stran Promotional Solutions (asi/337725)

In the financial release, Shape explained that following the firm’s 2024/25 annual stockholders meeting, Stran is fully compliant with Nasdaq continued listing requirements, and primed for continued growth.

“With a robust balance sheet featuring approximately $18.1 million in cash, cash equivalents and investments, we remain well-positioned to pursue strategic growth opportunities and invest in long-term value creation,” he said. “As we look ahead, our enhanced board, industry recognition and disciplined financial strategy have set the stage for continued growth and success. Stran is excited to build on this momentum and deliver even greater value to our clients, team members and shareholders.”

Stran placed 23rd on Counselor’s 2025 Top 40 distributors list with 2024 revenue reaching $114.1 million – a 39% year-over-year increase from the previous year.