Leatt's Q1 2026 revenue rose 27% to $19.51 million, driven mainly by higher helmet and body armor sales and strong demand from international distributors and consumer-direct channels. The company is capitalizing on direct-to-consumer momentum, which increased 49% in Q1 2026, while expanding product categories and global brand visibility.
Cyborg Score Rationale
Leatt demonstrates accelerating revenue and profit growth with 27% revenue increase and 58% net income jump in Q1 2026 (May 12, 2026). Strong cash generation of $4.55M in operating cash flow and a fortress balance sheet with $17.19M in cash support continued investment in brand and product development. Risks include OTC trading liquidity, FX exposure, and dependence on manufacturing in Asia.
Top Insights
Strong consumer momentum: Direct-to-consumer sales jumped 49% in Q1 2026 (May 12, 2026), indicating powerful brand traction and pricing power at the retail level.
Robust product momentum: Helmet revenues surged 69% and body armor grew 25% in Q1 2026, with eyewear sales up 132%, demonstrating successful category expansion beyond core neck braces.
Healthy unit economics: Gross margins stable at 44% with net margins expanding to 5.3% trailing twelve months, reflecting operational leverage as revenue scales.
Strategic partnership expansion: Announced Cardo Systems partnership on helmets with wireless communication in July 2026 (July 1, 2026), broadening product ecosystem.
Named Competitors
Fox Racing Shox — Protective gear and suspension components for motorsports
Troy Lee Designs — Head-to-toe protective equipment for motorsports and action sports
O'Neal Racing — Motocross and off-road protective gear
Bell Sports — Helmets and protective equipment across multiple sports
Recent Developments
(July 2026) Leatt Corp and Cardo Systems partner on Cardo Venture Helmet with wireless communication system
(May 2026) Leatt Corp announces share repurchase program
(May 2026) Q1 2026 results: $19.51M revenue (27% growth), $1.77M net income (58% growth), 44% gross margins, $17.19M cash
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