Leatt Corp ( (LEAT) ) has released its Q4 earnings. Here is a breakdown of the information Leatt Corp presented to its investors.
Leatt Corporation is a prominent developer and marketer of comprehensive protective gear for extreme sports, focusing on mountain biking and motorsports, known for its innovative Leatt-Brace® neck protection system.
In its latest earnings report, Leatt Corp announced a notable 14% increase in fourth-quarter revenues for 2024, despite a 7% decline in total annual revenues compared to the previous year. The company highlighted a significant improvement in its net loss for the quarter and an increase in cash and cash equivalents.
Key financial metrics revealed a fourth-quarter revenue of $11.20 million, with a net loss of $446,459, marking a 69% improvement from the prior year. The full-year revenue was $44.03 million, with a net loss of $2.20 million. Despite the annual revenue decline, the company saw growth in international distributor sales and consumer direct sales, alongside a 9% increase in cash reserves. Strategic highlights included the appointment of Rob Ramlose as U.S. VP of MOTO and ADV sales and winning two prestigious design awards.
Looking forward, Leatt Corp remains optimistic about its growth prospects, driven by a strong product pipeline and expanding distribution partnerships. The management anticipates continued revenue growth as inventory levels stabilize and new market opportunities are pursued, particularly in the ADV segment. The company is confident in its liquidity and strategic investments to support future expansion and shareholder value.