CAPE TOWN, South Africa (BRAIN) — Leatt Corporation posted its fourth consecutive period of growth with revenue increasing 61% in the second quarter led by double-digit expansion in all major product categories.
Revenue for the quarter ending June 30 was $16.18 million, compared with $10.08 million at the same time last year. Helmet revenue increased by 117%, while other products, parts, and accessory sales increased by 65%.
Consumer-direct sales rose 35% year-over-year, while U.S. dealer-direct mountain bike and moto sales jumped 45%.
"Although U.S. moto and MTB brick-and-mortar dealers continue to manage some areas of elevated inventory levels and industry turmoil that is stabilizing, participation and demand for our products remains strong," said CEO Sean Macdonald.
Net income was $1.14 million, up 208% compared with a net income loss of $1.05 million, and earnings per share for the quarter was $1.18, compared with a minus-$0.17 year-over-year.
"Although there are still some challenging geo-political and economic headwinds globally — particularly in the U.S., where tariffs could impact inflation, uncertainty, and demand, inventory continues to be digested — our domestic sales outreach and capabilities are gaining traction, and participation remains strong," Macdonald said. "We continue to manage our costs of sales actively and are working closely with suppliers and customers to mitigate tariff risks and costs as possible."
Leatt is traded on the OTCQB markets under the LEAT symbol.
