Leatt Stock Earnings Reports

Leatt reported a strong Q3 2025 with revenues of $14.34M (up 18% YoY) and net income of $539k (up 366% YoY). This marks the fourth consecutive quarter of double-digit revenue growth and continued margin improvement (gross margin ~44%). Year-to-date (9 months) revenue rose 40% to $45.9M and net income rose 259% to $2.8M. All product categories and core markets (MOTO, MTB, ADV) showed double-digit year-to-date growth; notable category performance included helmets (+60% YTD), body armor (+30% YTD), other products/parts/accessories (+49% YTD) and neck braces (+18% YTD). Consumer-direct sales are a major growth driver (Q3 consumer-direct +61% YoY; 9M +37%), supported by a new web platform, a dedicated digital team, and expanded customer service in the U.S. and South Africa. Cash and equivalents stood at $12.39M with a 5:1 current ratio. Management is investing in brand, product development and marketing (recent hire: Head of Brand, Marketing and Creative), while monitoring geopolitical/tariff and inflation risks. The company has an ongoing share repurchase program (initiated buys in the quarter) and has taken modest price increases (8–10%) across the portfolio. Management expects continued inventory digestion, stronger Q4 international shipments (timing effects in Q3), and continued margin/profitability improvement driven in part by DTC growth.