Leatt Earnings Call Transcripts
Fiscal Year 2025
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Double-digit revenue growth continued in 2025, with total revenues up 41% and net income rising 248% year-over-year. All major product categories saw strong gains, and robust international demand and new product innovation fueled optimism for future growth.
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Q3 2025 saw 18% revenue growth and a 366% net income increase, with all product categories and direct sales posting double-digit gains. Strong cash position enabled a share buyback, while investments in digital and marketing are fueling future growth.
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Q2 2025 saw 61% revenue growth and a 208% increase in net income, with strong gains across all product categories and channels. Gross margin improved to 43%, and cash position strengthened. Ongoing investments and global expansion support a positive outlook despite tariff and geopolitical risks.
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The meeting covered director elections and auditor ratification, with both proposals passing by overwhelming majorities. Quorum was established, and all formalities were observed, including a brief Q&A session.
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Q1 2025 saw a 45% revenue increase and a return to profitability, with all major product categories achieving double-digit growth. International distributor sales surged 79%, and the ADV line now accounts for up to 20% of sales, despite ongoing U.S.-China trade risks.
Fiscal Year 2024
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Q4 2024 saw a 14% revenue increase year-over-year, driven by international growth and strong ADV apparel sales, while full-year revenues declined 7% due to earlier inventory challenges. Gross margin improved in Q4, and liquidity remains strong, with management optimistic about continued double-digit growth and profitability as industry conditions normalize.
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Q3 2024 saw a return to growth with revenues up 1% year-over-year and sequential margin improvement. International sales and direct-to-consumer channels performed strongly, while strategic investments in talent and marketing are expected to drive future growth.
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Q2 2024 revenues fell 18% year-over-year to $10 million, with net loss at $1 million, as distributor sales declined but consumer and dealer direct channels grew. Inventory levels dropped 28%, and new product launches and distributor partnerships are expected to drive future growth.
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The meeting covered director elections and auditor ratification, with both proposals passing by overwhelming majorities. No shareholder questions were raised, and a quorum was established with over 73% of shares represented.