Leatt Corp Announces Results for First Quarter 2026

Total revenues increase 27%; net income increases 58%; continued revenue growth in all major product categories

CAPE TOWN, South Africa, May 12, 2026 /PRNewswire/ -- Leatt Corporation (OTCQB: LEAT), a leading developer and marketer of head-to-toe protective equipment for Moto, MTB, ADV, and a wide range of extreme and high-velocity sports, today announced financial results for the first quarter ended March 31, 2026. All financial numbers are in U.S. dollars.

First Quarter 2026 and Recent Highlights

• First quarter 2026 revenues were $19.51 million, up 27%, compared to the 2025 first quarter.
• First quarter 2026 net income was $1.77 million, up 58%, compared to the 2025 first quarter.
• Revenue growth in all major product categories.
• Consumer direct sales increased 49%, compared to the first quarter of 2025.
• Cash flow generated by operations was $4.55 million.
• Cash, cash equivalents and restricted cash increased 30%, 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%, compared to the 2025 first quarter. Consumer direct sales increased by 49%, 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%, and dealer direct sales increased by 30%, 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%; other products, parts and accessories increased by 9%; neck brace revenues increased by 7%; and body armor revenues increased by 25%.

"Net income for the first quarter of 2026 was $1.77 million, an increase of 58%, 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%, 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% 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% 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%, 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

Mr. 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."

Conference Call

The Company will host a conference call at 10:00 AM ET on Tuesday, May 12, 2026, to discuss the 2026 first quarter results.

Participants should dial in to the call ten minutes before the scheduled time, using the following numbers: 1-800-579-2543 (U.S.A) or 1-785-424-1789 (international) to access the call.

Audio Webcast

There will also be a simultaneous live webcast through the Company's website, www.leatt-corp.com. Participants should register on the website approximately ten minutes prior to the start of the webcast.

Replay

An audio replay of the conference call will be available for seven days and can be accessed by dialing 1-844-512-2921 (U.S.A) or 1-412-317-6671 (international) and using passcode 11161813.

For those unable to attend the call, a recording of the live webcast will be archived shortly following the event for 30 days on the Company's website.

About Leatt Corp

Driven by the science of thrill, Leatt Corporation develops head-to-toe personal protective gear for extreme and action sports. This includes the award-winning Leatt-Brace®, a neck brace system considered the gold standard for neck protection when worn in conjunction with a helmet. Leatt products are designed for participants in extreme sports that use motorcycles, bicycles, mountain bikes, all-terrain vehicles, snowmobiles, and other open-air vehicles. For more information, visit www.leatt.com.

Follow Leatt® on Facebook and Instagram.

Forward-looking Statements

This press release may contain forward-looking statements regarding Leatt Corporation (the "Company") within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the Company's ability to maintain sufficient liquidity to continue investing in its product portfolio and elevating the brand to reach a wider audience and fuel growth; the Company's ability to continue developing a pipeline of innovative products that connect with consumers; the general ability of the Company to achieve its commercial objectives,; the business strategy, plans and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "seeks," "should," "could," "intends," or "projects" or similar expressions, and involve known and unknown risks and uncertainties. These statements are based upon the Company's current expectations and speak only as of the date hereof. Any indication of the merits of a claim does not necessarily mean the claim will prevail at trial or otherwise. Financial performance in one period does not necessarily mean continued or better performance in the future. The Company's actual results in any endeavor may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, which factors or uncertainties may be beyond our ability to foresee or control. Other risk factors include the status of the Company's common stock as a "penny stock" and those listed in other reports posted on The OTC Markets Group, Inc.

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SOURCE Leatt Corporation