Leatt Corporation reported that sales grew 43 percent in the fourth quarter and 41 percent year-over-year, supported by gains across the helmet, neck brace and body armor categories. The South Africa-based maker of protective gear for MOTO, MTB, and a wide range of extreme and high-velocity sports logged a profit against a loss in both periods.

Leatt Corporation reports in the U.S. dollar ($) currency.

For the Fourth Quarter:

  • Total revenues were $16.02 million, a 43 percent increase, compared to $11.2 million for the fourth quarter of 2024.
  • Gross profit, as a percentage of sales, increased to 46 percent as domestic sales continued to grow and Leatt shipped new products.
  • Net income was $464,808 or 7 cents per basic and diluted share, as compared to net loss of $446,459, or 7 cents per diluted share, for the fourth quarter of 2024.

Full Year Summary
Total revenues for the full year 2025 were $61.9 million, a 41 percent increase from $44.0 million in 2024. The increase in worldwide revenues was said to be attributable to:

  • Posting a $6.5 million increase in body armor sales.
  • Logging a $4.9 million increase in helmet sales.
  • A $6.0 million increase in other products, parts, and accessories sales.
  • Delivering a $0.45 million increase in neck brace sales.
  • Reporting $44.6 million in International sales, up 47 percent compared to 2024.

The company said it saw double-digit revenue growth in all major product categories and sales channels.

Distributors reportedly continue to re-order and re-stock, according to a management statement. Customer direct sales, an important focus area for Leatt, increased 44 percent year-over-year, and dealer-direct sales with the company’s reorganized and reenergized domestic sales force increased 22 percent year-over-year.

Gross profit, as a percentage of sales, for the year increased to 44 percent, as domestic trading conditions continued to improve and the company’s supply chain team “achieved logistical efficiencies, despite some uncertainty around global trade tariffs.”

For the full year 2025, income before tax was $4.4 million, an increase of $7.1 million, compared to the full year 2024.

Net income for the full year 2025 was $3.26 million, or 51 cents per diluted share, compared to a net loss of $2.20 million, or 34 cents, for 2024.

CEO Sean Macdonald commented, “2025 was a remarkable year for us, fueled by strong international demand for our innovative products, improved stocking dynamics and ordering patterns, and a surge in consumer direct sales. The growing global demand for our products and an expanding Leatt brand that reaches a much wider group of riders around the world are fueling tremendous traction and momentum.

Leatt said it continued to meet its working capital needs from cash on hand and internally generated cash flow from operations. At December 31, 2025, the company had cash, cash equivalents and restricted cash of $13.2 million, compared to $12.37 million at December 31, 2024, and a current ratio of 4.9:1.

Company Founder and Chairman Dr. Christopher Leatt remarked, “We are very proud of our design, engineering and innovation expertise that focused on rider safety and performance. These innovations are increasingly being recognized by riders at all levels all around the world as well as our peers.”

“We achieved double-digit revenue growth for the fifth consecutive quarter, and year-over-year growth for the sixth consecutive quarter following the post-COVID industry-wide inventory overhang.

“We closed the year with double-digit revenue growth in all of our major product categories in 2025, a testament to the expertise of our creative design and engineering team and continued strong brand momentum. Helmet sales grew by 59 percent year-over-year. Sales of our flagship neck brace increased by 18 percent, body armor revenues increased by 29 percent, including a 40 percent increase in footwear sales, and sales of our other products, parts and accessories category increased by 56 percent.”

Business Outlook
Macdonald added: “The momentum we are achieving at all levels of our business has our entire team energized and optimistic about the future of the company. Although there are some potentially challenging geo-political headwinds globally, domestic sales at the dealer level are gaining very promising traction, participation remains strong and international ordering patterns remain robust.

“Our Adventure motorcycle line-up of apparel, helmets and boot sales, backed by positive industry reviews and our proven ability to develop exciting and durable products, continues to exceed our expectations and contribute strongly to our revenue. We look forward to delivering a pipeline of new innovative products to the growing ADV market over the next several quarters.

“Total operating costs increased by 12 percent last year, and we do expect working capital investments to grow in the coming periods, reflecting our strong drive to build a global, multi-channel team of sales and marketing professionals in emerging and developed markets. The team is building and leveraging revenue opportunities by enabling our brand to reach a much wider group of riders of all levels around the world. We believe that we have sufficient liquidity to fuel this growth.

“Again, we are very enthusiastic about our future. With a growing portfolio of innovative products in the market and in the pipeline, a focus on elevating and amplifying our brand, and a robust balance sheet to fuel the growth, we remain confident that we are well-positioned for future growth and increasing shareholder value.”

Image courtesy Leatt Corporation