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Leatt (LEAT) investor relations material
Leatt Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Achieved fourth consecutive quarter of double-digit revenue and profitability growth, with Q3 2025 revenues up 18% year-over-year to $14.34 million and net income up 366% to $539,000.
All major product categories and core markets (Moto, MTB, ADV) posted double-digit year-to-date growth, with strong international distributor and direct-to-consumer sales up 61% in Q3.
For the first nine months of 2025, revenues rose 40% to $45.89 million and net income increased 259% to $2.8 million.
Continued investment in team expansion, digital platforms, and brand marketing, including hiring Nick Larsen as Head of Brand Marketing and Creative.
Cash flow from operations reached $1.45 million for the first nine months, with cash and equivalents at $12.39 million as of September 30, 2025.
Financial highlights
Q3 2025 revenues: $14.34 million, up 18% year-over-year; net income: $539,000, up 366%.
Gross profit margin improved to 44% from 43% in Q3 2024; nine-month gross margin rose to 43% from 40% year-over-year.
Income from operations: $650,000, up 2,353% from Q3 2024.
EPS for Q3: $0.09 basic, $0.08 diluted; for nine months: $0.45 basic, $0.43 diluted.
Cash and cash equivalents at September 30, 2025, were $12.39 million, with positive operating cash flow of $1.45 million for the nine months.
Outlook and guidance
Management expects continued strong growth across all product categories, with international distributor deliveries anticipated to be strong in Q4 due to timing shifts.
Ongoing investment in product development, marketing, and digital initiatives to drive future growth.
Inflation and tariffs are being managed with 8-10% price increases, not expected to significantly impact margins or demand.
No major capital expenditures are planned for the next twelve months; current cash and cash flow are expected to meet operating needs.
Cautious optimism due to geopolitical and economic risks, but confident in future growth and shareholder value.
D2C growth drivers and future margin impact
International sales deceleration vs. positive outlook?
Marketing spend plans with new Head of Brand
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Frequently asked questions
Leatt Corporation specializes in the design, development, marketing, and distribution of personal protective and performance equipment. Catering to enthusiasts of various motor sports and leisure activities, the company's product range extends to protective gear for motorcycle, bicycle, snowmobile, and ATV riders. Among its notable innovations is the Leatt-Brace system, an injection-molded neck protection system engineered to safeguard the cervical spine and neck from injuries. The company is headquartered in Cape Town, South Africa, and its shares are listed on the OTCQB.
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