The South Africa-based maker of protective gear for MOTO, MTB, and a wide range of extreme and high-velocity sports reported profits in the first quarter rose 58 percent on a 27 percent sales gain. The gains were driven by strong gains in helmet and body armor categories.

All financial numbers are in U.S. dollars.

First Quarter 2026 and Recent Highlights

  • First quarter 2026 revenues were $19.51 million, up 27 percent, compared to the 2025 first quarter.
  • First quarter 2026 net income was $1.77 million, up 58 percent, compared to the 2025 first quarter.
  • Revenue growth in all major product categories.
  • Consumer direct sales increased 49 percent, compared to the first quarter of 2025.
  • Cash flow generated by operations was $4.55 million.
  • Cash, cash equivalents and restricted cash increased 30 percent, to $17.19 million.

Leatt Chief Executive Officer Sean Macdonald commented, “The first quarter of 2026 was a great start to the year for our Company. Revenues continue to grow strongly, global demand for our products fueled robust re-ordering patterns, and domestic sales showed very encouraging traction at the dealer and consumer level. We continue to accelerate our investments in developing emerging markets, as well as in developing Leatt as a global consumer brand that compels riders to engage with us.

“Global revenues for the first quarter were $19.51 million, an increase of 27 percent, compared to the 2025 first quarter. Consumer direct sales increased by 49 percent, which we believe is a testament to the tremendous momentum of the Leatt brand’s attraction at the consumer level. International sales to our distribution partners increased by 24 percent, and dealer direct sales increased by 30 percent, as our re-organized and re-energized

“MOTO and MTB domestic sales force continues to develop and build a strong, sustainable and committed dealer network and gain substantial traction with our head-to-toe product offerings.

“We grew revenues year-over-year in all of our major product categories: helmet revenues increased by 59 percent; other products, parts and accessories increased by 9 percent; neck brace revenues increased by 7 percent; and body armor revenues increased by 25 percent.

“Net income for the first quarter of 2026 was $1.77 million, an increase of 58 percent, over the 2025 first quarter, and income before tax was $2.39 million, an increase of $0.88 million. Gross profit as a percentage of sales remained stable at 44 percent, as domestic sales continued to grow and we continue to ship our newer products and improve our global logistics efficiencies.

“Cash increased by $3.96 million, to $17.19 million, despite strong investment in our marketing and selling capabilities, and in our product and brand development that will fuel future growth.

“We expect working capital investments to grow in the coming periods as ordering patterns continue to signal growth, and we have sufficient liquidity to fuel this growth.”

Financial Summary
Revenues for the three months ended March 31, 2026 were $19.51 million, a 27 percent increase, compared to revenues of $15.37 million for the first quarter of 2025. This increase in worldwide revenues is primarily attributable to a $1.99 million increase in helmet sales, a $1.72 million increase in body armor sales, a $0.38 million increase in sales of other products, parts and accessories, and a $0.05 million increase in neck brace sales.

Net income for the three months ended March 31, 2026 was $1.77 million, or $0.28 per basic and $0.27 per diluted share, a 58 percent increase compared to $1.12 million for the first quarter of 2025.

Leatt continued to meet its working capital needs from cash on hand and internally generated cash flow from operations. Cash, cash equivalents and restricted cash increased by $3.96 million or 30 percent, for the three months ended March 31, 2026, when compared to $13.23 million in cash, cash equivalents and restricted cash on hand at December 31, 2025, and a current ratio of 8.2:1.

Founder and Chairman Dr. Christopher Leatt remarked, “The continued growth in worldwide sales of our exceptional product categories and the popularity of our brand with consumers validates the exceptional ability of our team of developers and engineers to continuously develop an exciting pipeline of innovative products designed for a wide range of consumers.”

Business Outlook
Macdonald added, “Our entire team is very excited about the future of Leatt. While there are still some potentially challenging global geo-political headwinds, domestic sales are gaining promising traction, participation remains strong, and international ordering patterns remain robust, driven by strong demand for our products around the world.

“There is real excitement about the Leatt brand, both in the U.S. and abroad. We are accelerating our drive to elevate the brand globally to reach a much wider audience across our core markets, and I look forward to sharing the results of this shift in campaign focus in the coming quarters.

“With a focus on investing in our innovative product portfolio, a drive to accelerate and amplify our brand to meet a much wider rider audience and a robust balance sheet to fuel growth, we remain confident that we are well positioned for future growth and increased shareholder value.”

Image courtesy Leatt Corp.