Leatt Corporation reported significant financial growth in its latest quarterly filing, with revenues for the three months ending September 30, 2025, reaching $14.34 million, an 18% increase from $12.14 million in the same period last year. For the nine-month period, revenues surged to $45.89 million, a 40% increase compared to $32.83 million in 2024. The company attributed this growth primarily to increased sales across various product lines, including body armor, helmets, and other accessories, with notable increases in both domestic and international markets.
The company's gross profit for the third quarter was $6.32 million, up from $5.17 million a year earlier, reflecting a gross margin of 44%. This improvement was driven by better shipping and logistics efficiencies, which helped reduce costs relative to revenues. However, product royalty income saw a decline of 59% in the third quarter, totaling $51,300, down from $123,706 in 2024, due to decreased sales of licensed products.
Leatt's operating expenses increased to $5.74 million in the third quarter, a 9% rise from $5.27 million in the previous year. This increase was largely due to higher salaries and wages, which rose by 13% as the company expanded its marketing and sales teams. The net income for the quarter was $539,256, a substantial increase of 366% compared to $115,837 in the prior year, reflecting the company's improved operational efficiency and revenue growth.
In terms of operational metrics, Leatt reported a significant increase in consumer direct sales, which rose by 61%, and dealer direct sales, which increased by 11%. The company also noted a 52% increase in sales to global distributors, indicating strong demand for its products. As of September 30, 2025, Leatt had cash and cash equivalents of $12.39 million, slightly down from $12.47 million at the end of 2024, but still sufficient to meet its operational needs.
Looking ahead, Leatt Corporation remains optimistic about its growth trajectory, driven by increasing demand for protective gear in the motorsports and bicycle markets. The company plans to continue expanding its product offerings and enhancing its market presence, while also navigating potential challenges related to global economic conditions and trade policies. The management believes that the current cash reserves and operational cash flow will support its strategic initiatives over the next twelve months.
About Leatt Corp
Leatt designs, develops, and markets protective gear for motor sports and cycling, including neck braces, helmets, body armor, and accessories. Its innovative products focus on safety, leveraging proprietary technology and extensive certifications worldwide. The company serves global markets through a network of distributors and direct channels, emphasizing quality, brand recognition, and strategic growth in recreational and competitive sports segments.
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