Leatt Corporation reported significant financial growth in its latest 10-K filing for the fiscal year ending December 31, 2025, with total revenues reaching $61.91 million, a 41% increase from $44.03 million in 2024. The company also achieved a net income of $3.26 million, a substantial turnaround from a net loss of $2.20 million the previous year. This improvement in profitability is attributed to increased sales across various product lines, particularly in body armor, helmets, and other accessories, which collectively contributed to a gross profit of $27.22 million, representing 44% of total revenues.
The filing highlights a notable increase in international sales, which accounted for 72% of total revenues, up from 69% in the prior year. The company reported a 48% increase in sales to global distributors and a 44% rise in direct consumer sales. The growth in revenue was driven by a $6.52 million increase in body armor sales, a $4.92 million rise in helmet sales, and a $5.99 million increase in sales of other products, parts, and accessories. The flagship Leatt-Brace® neck brace saw an 18% increase in revenue, primarily due to a 35% rise in sales volume.
Operationally, Leatt has expanded its workforce to 88 full-time employees and 47 independent contractors, reflecting its growth strategy and increased demand for its products. The company continues to invest in research and development, with expenses rising to $2.70 million, up from $2.52 million in 2024. This investment is aimed at enhancing product offerings and maintaining competitive advantages in the personal protective equipment market.
Strategically, Leatt has focused on expanding its product portfolio, including the recent launch of a new range of adventure gear, which has been well received in the market. The company has also been actively pursuing international certifications and endorsements to bolster its market position. Looking ahead, Leatt anticipates continued growth driven by increasing demand for protective equipment in the motorsports and cycling markets, although it acknowledges potential risks related to global economic conditions and trade restrictions.
In summary, Leatt Corporation's financial performance for 2025 reflects a strong recovery and growth trajectory, supported by increased sales across its product lines and strategic investments in research and development. The company remains optimistic about its future prospects while navigating the challenges of a competitive and evolving market landscape.
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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