$LEAT
Leatt Corp

2023 Q4 Form 10-Q Financial Statement

#000106299323020129 Filed on November 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $9.803M $12.01M
YoY Change -10.15% -48.37%
Cost Of Revenue $6.230M $6.891M
YoY Change -13.29% -47.49%
Gross Profit $3.573M $5.118M
YoY Change -4.1% -49.51%
Gross Profit Margin 36.44% 42.62%
Selling, General & Admin $4.543M $3.589M
YoY Change -2.16% -9.64%
% of Gross Profit 127.16% 70.13%
Research & Development $698.0K $610.6K
YoY Change 5.14% 21.73%
% of Gross Profit 19.54% 11.93%
Depreciation & Amortization $302.9K $299.6K
YoY Change 12.76% 13.08%
% of Gross Profit 8.48% 5.85%
Operating Expenses $5.475M $4.499M
YoY Change -1.09% -5.05%
Operating Profit -$1.903M $620.4K
YoY Change 5.1% -88.66%
Interest Expense -$190.00 -$1.150K
YoY Change -99.01% -114.78%
% of Operating Profit -0.19%
Other Income/Expense, Net -$1.150K
YoY Change -114.77%
Pretax Income -$1.903M $619.2K
YoY Change 4.01% -88.7%
Income Tax -$446.2K $158.8K
% Of Pretax Income 25.64%
Net Earnings -$1.457M $460.5K
YoY Change 35.21% -88.74%
Net Earnings / Revenue -14.86% 3.83%
Basic Earnings Per Share $0.08
Diluted Earnings Per Share -$0.24 $0.07
COMMON SHARES
Basic Shares Outstanding 5.971M shares 5.971M shares
Diluted Shares Outstanding 6.271M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.35M $10.78M
YoY Change 59.76% 120.37%
Cash & Equivalents $11.35M $10.78M
Short-Term Investments
Other Short-Term Assets $2.972M $3.064M
YoY Change -39.86% 20.92%
Inventory $20.39M $18.70M
Prepaid Expenses
Receivables $6.970M $10.67M
Other Receivables $623.1K $340.5K
Total Short-Term Assets $42.30M $43.56M
YoY Change -11.29% -20.73%
LONG-TERM ASSETS
Property, Plant & Equipment $4.027M $3.571M
YoY Change 29.72% 16.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $120.4K $40.00K
YoY Change 195.12% -0.35%
Total Long-Term Assets $5.302M $4.528M
YoY Change 25.14% 6.04%
TOTAL ASSETS
Total Short-Term Assets $42.30M $43.56M
Total Long-Term Assets $5.302M $4.528M
Total Assets $47.61M $48.09M
YoY Change -8.32% -18.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.202M $5.444M
YoY Change -13.46% -56.38%
Accrued Expenses $299.4K $281.6K
YoY Change -56.01% -1.73%
Deferred Revenue
YoY Change
Short-Term Debt $1.136M $5.247K
YoY Change 10.25% -96.33%
Long-Term Debt Due $112.9K $111.7K
YoY Change 4.11% 24.43%
Total Short-Term Liabilities $6.750M $5.842M
YoY Change -39.8% -67.2%
LONG-TERM LIABILITIES
Long-Term Debt $30.65K $59.35K
YoY Change -78.41% -52.4%
Other Long-Term Liabilities $545.8K $635.3K
YoY Change -32.74% -49.47%
Total Long-Term Liabilities $576.4K $694.7K
YoY Change -39.54% -49.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.750M $5.842M
Total Long-Term Liabilities $576.4K $694.7K
Total Liabilities $7.327M $6.603M
YoY Change -40.11% -66.0%
SHAREHOLDERS EQUITY
Retained Earnings $30.80M $32.26M
YoY Change 2.68% 3.81%
Common Stock $130.6K $130.3K
YoY Change 0.19% 0.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.28M $41.49M
YoY Change
Total Liabilities & Shareholders Equity $47.61M $48.09M
YoY Change -8.32% -18.8%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.457M $460.5K
YoY Change 35.21% -88.74%
Depreciation, Depletion And Amortization $302.9K $299.6K
YoY Change 12.76% 13.08%
Cash From Operating Activities $71.22K -$232.2K
YoY Change -94.68% -129.2%
INVESTING ACTIVITIES
Capital Expenditures $586.9K $1.147M
YoY Change 110.4% -366.89%
Acquisitions
YoY Change
Other Investing Activities $460.00 $2.790K
YoY Change -99.21% 304.35%
Cash From Investing Activities -$586.5K -$1.144M
YoY Change 165.74% 166.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.103M -313.9K
YoY Change 19.48% 195.63%
NET CHANGE
Cash From Operating Activities 71.22K -232.2K
Cash From Investing Activities -586.5K -1.144M
Cash From Financing Activities 1.103M -313.9K
Net Change In Cash 587.8K -1.690M
YoY Change -71.2% -749.92%
FREE CASH FLOW
Cash From Operating Activities $71.22K -$232.2K
Capital Expenditures $586.9K $1.147M
Free Cash Flow -$515.7K -$1.379M
YoY Change -148.68% -212.58%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Security12b Title
Security12bTitle
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<div> <div> <div> <div> <div> <div> <div> <div> <p style="text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><b>Note 1 - Basis of presentation</b></span></span></p> <p style="text-align: justify; margin-bottom: 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;">The consolidated balance sheet as of December 31, 2022 was audited and appears in the Form 10-K filed by the Company with the Securities and Exchange Commission on March 28, 2023. The consolidated balance sheet as of September 30, 2023 and the consolidated statements of operations and comprehensive income for the three and nine months ended September 30, 2023 and 2022, changes in stockholders' equity for the nine months ended September 30, 2023, cash flows for the nine months ended September 30, 2023 and 2022, and the related information contained in these notes have been prepared by management without audit. In the opinion of management, all adjustments (which include only normal recurring items) necessary to present fairly the financial position, results of operations and cash flows in conformity with generally accepted accounting principles as of September 30, 2023 and for all periods presented have been made. Interim operating results are not necessarily indicative of operating results for a full year. Certain information and note disclosures normally included in the Company's annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. While management of the Company believes that the disclosures presented are adequate to make the information not misleading, it is suggested that these condensed consolidated financial statements be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2022 as filed with the Securities and Exchange Commission in the Company's Form 10-K.</span></span></p> </div> </div> </div> </div> </div> </div> </div> </div>

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