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Leatt Corporation develops and markets head-to-toe protective equipment for Moto, MTB, ADV and other extreme or high-velocity sports. Its product categories include the Leatt-Brace neck brace system, helmets, body armor, footwear, apparel, goggles, parts and accessories for riders of motorcycles, bicycles, mountain bikes, all-terrain vehicles, snowmobiles and other open-air vehicles.
Recurring company news centers on quarterly and annual financial results, conference calls, product-category revenue trends, brand and product-development updates, and capital actions such as share repurchase authorizations. Updates also discuss demand across global rider markets and the company’s multi-channel sales organization.
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Leatt Corporation (OTCQB: LEAT) reported record annual revenues of $76.3 million for 2022, marking a 5% increase from 2021. International sales rose by 13% to $59.02 million. However, the fourth quarter saw a 53% decline in revenues, totaling $10.9 million, resulting in a net loss of $1.1 million. Net income for 2022 was $9.96 million, down 21% year-over-year. Key highlights included a 60% increase in helmet sales and the recent Design & Innovation Award for the Mono Suit MTB HydraDri 5.0. CEO Sean Macdonald emphasized the company's resilience amid challenging market conditions and anticipated future growth despite inventory digesting challenges.
Leatt Corporation (OTCQB: LEAT) announces a scheduled release of its financial results for Q4 and the full year 2022 on March 28, 2023, prior to market opening. A conference call will follow at 10:00 am ET on the same day to discuss the results. Interested participants can join by calling 1-877-407-9716 (USA) or 1-201-493-6779 (international). An audio webcast will also be available on the company's website, providing options for those who cannot attend live. Leatt is recognized for its protective gear in extreme sports, particularly its renowned Leatt-Brace® neck protection system.
Leatt Corporation (OTCQB: LEAT) has announced a partnership with the Orbea Leatt Speed Company Racing Team, featuring 2022 Absa Cape Epic winners Lukas Baum and Georg Egger. This collaboration aims to enhance performance and innovation in mountain biking. The athletes will compete in Leatt gear at major events, including the Epic Series and UCI MTB World Cup. CEO Sean Macdonald expressed pride in this partnership, emphasizing shared values of excellence and growth. The collaboration will also focus on product development to improve rider safety and comfort during demanding races.
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Leatt Corporation (OTCQB: LEAT) reported financial results for Q3 2022, showcasing a 5% increase in global revenues to $23.3 million. Year-to-date revenues surged 33% to $65.4 million, with a net income of $11 million, reflecting a 26% rise. Earnings per share (EPS) reached $1.90. Despite challenges in the market, sales of helmets and accessories drove growth, while body armor and neck brace sales experienced declines. The company maintains strong operational efficiency, with a current ratio of 3.1:1 and cash equivalents of $4.8 million.