Leatt Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 delivered 27% revenue growth and a 58% increase in net income, with strong gains across all product categories and robust international and domestic demand. Cash position and liquidity improved, supporting continued investments and share repurchases.
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.