Leatt Corp
leatt-corp.comWhat Do They Do?
Sells protective gear, helmets and riding apparel to motorcycle, bicycle and other recreational riders.
10-K for FY2025, filed Mar 24, 2026We were incorporated in the State of Nevada on March 11, 2005, under the name Treadzone, Inc. We were a shell company with little or no…View ↗
We design and sell neck braces, helmets, protective gear, shoes and clothing for the downhill and a wider cycling market. We entered this…View ↗
We design and sell technical apparel including jackets, pants, boots, and gloves for the off-road adventure segment of the motorcycle…View ↗
The Company designs, develops, distributes, and markets protective gear, parts and accessories. The Company currently mainly markets its…View ↗
How Do They Make Money?
Leatt sells products to distributors, dealers and direct consumers. Distributors may pay in advance or within 60 days after shipment, while online consumer orders are paid by the buyer and product royalties arise when the underlying sale occurs.
10-K for FY2025, filed Mar 24, 2026Revenue and Cost Recognition - The Company's products are sold worldwide to a global network of distributors and dealers, and directly to…View ↗
Revenues are recognized when performance obligations are satisfied as evidenced by transfer of control of promised goods to our customers…View ↗
The Company's standard distributor payment terms range from pre-payment in full to 60 days after shipment and subsequent sales of product…View ↗
Revenue and Cost Recognition (continued) - or to the consumer where the consumer chooses to purchase directly from the Company's e-commerce…View ↗
International sales (other than in the United States and South Africa) are generally drop-shipped directly from the Company's consolidation…View ↗
$61.9M
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10-K for FY2025, filed Mar 24, 2026
$61.9M ↗
Who Are Their Customers?
Distributors and e-commerce partners sell products to retailers; the company also sells directly to dealers and consumers in the United States and South Africa, including through online stores. It also makes protective equipment for other international brands.
10-K for FY2025, filed Mar 24, 2026
Do Revenues Turn Into Profits?
Yes. It kept 5 cents of every revenue dollar as net income in FY2025 and turned 1 cent into free cash flow.
10-K for FY2025, filed Mar 24, 2026
$4MView ↗
10-K for FY2025, filed Mar 24, 2026
$3.3MView ↗
10-K for FY2025, filed Mar 24, 2026
$725.9KView ↗
How Are They Changing?
Shrinking. Revenue fell 15% in 4 years, from $72.5M in FY2021 to $61.9M in FY2025, about 4% a year.
Adventure riding apparel
The latest report describes technical jackets, pants, boots and gloves for off-road adventure motorcyclists, an added product area beyond the bicycle and powersports categories described in the older report.
10-K for FY2022, filed Mar 28, 2023 10-K for FY2025, filed Mar 24, 2026
Online sales channels
The latest report includes e-commerce partners and direct online sales to consumers alongside distributors and dealer sales; the older report described the distributor and dealer network.
10-K for FY2022, filed Mar 28, 2023 10-K for FY2025, filed Mar 24, 2026Leatt earns revenues through the sale of its products through approximately 56 distributors worldwide, who in turn sell its products to…View ↗
Broader OEM products
The older report described original equipment manufacturing of neck braces for other brands; the latest report describes protective equipment sold by other international brands.
10-K for FY2022, filed Mar 28, 2023 10-K for FY2025, filed Mar 24, 2026Leatt designs, develops, markets and distributes personal protective equipment for participants in all forms of motor sports and leisure…View ↗
We were incorporated in the State of Nevada on March 11, 2005, under the name Treadzone, Inc. We were a shell company with little or no…View ↗
Who Do They Compete With?
Competes with Alpinestars, Fox Head, Bell Sports, EVS Sports, and Fox Racing
10-K for FY2025, filed Mar 24, 2026We compete with a small number of dominant competitors in the protective gear and apparel market, some of whom have substantially greater…View ↗
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