Strong Revenue Growth (Full Year 2025)
Total global revenues of $61.91 million, a 41% increase year-over-year (2025 vs 2024).
Robust Quarterly Performance (Q4 2025)
Fourth quarter revenues of $16.0 million, up 43% year-over-year; Q4 net income of $465,000 vs a Q4 2024 net loss of $447,000 (net income increase of 204%).
Profitability Turnaround (Full Year)
Net income for 2025 of $3.26 million (or $0.53 basic / $0.51 diluted), up 248% from a $2.2 million net loss in 2024; income before tax of $4.41 million, up $7.1 million vs prior year.
Improved Margins
Gross profit as a percentage of sales increased to 44% for the full year and to 46% in Q4, reflecting improved domestic trading conditions and supply-chain efficiencies.
Strong International and Direct Channel Growth
International revenues of $44.64 million, up 47% year-over-year; customer direct sales increased 44% and reorganized dealer direct sales rose 22%.
Product Category Momentum
Body armor revenues $28.98 million (+29%), helmets $13.31 million (+59%), neck braces $2.89 million (+18% with 35% increase in volume), other products/parts/accessories $16.73 million (+56%); footwear within body armor up 40%.
Healthy Liquidity and Balance Sheet
Cash, cash equivalents and restricted cash of $13.23 million (up from $12.37 million year-over-year) and a strong current ratio of 4.9:1; management states sufficient liquidity to fuel growth.
Corporate and Brand Strength Indicators
Board extended share repurchase program up to $750,000; product recognition with two Eurobike 2025 awards (5.0 Gravity Helmet and 6.0 HydraDri jacket); new marketing and U.S. sales leadership in place.