The strong Q1 results confirm the growth trajectory from FY2025, though the pace of revenue growth slowed from 41% in FY2025 to 27% in Q1. With no specific forward guidance, the market should focus on the sustained profitability and cash generation. Watch for any margin pressure from tariff uncertainties or inventory buildup. The stock may gap up on the print but could consolidate without a raised outlook.
Price Chart
Executive Summary
Leatt Corp reported Q1 2026 revenue of $19.51M (up 27% YoY) and net income of $1.77M (up 58% YoY), with EPS of $0.28 basic. Growth was broad-based across all product categories, driven by strong consumer demand and robust ordering patterns. Operating cash flow improved to $4.55M, and cash balance rose 30% to $17.19M.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $19.51M vs $15.37M YoY, +27%
- Net income $1.77M vs $1.12M YoY, +58%
- EPS $0.28 basic, $0.27 diluted vs $0.18/$0.17 YoY
- Revenue growth across all categories: helmets +59%, body armor +25%, neck braces +7%, other +9%
- Consumer direct sales +49% YoY
- Operating cash flow $4.55M vs $0.77M YoY
- Cash and equivalents increased to $17.19M from $13.23M at year-end
- Current ratio improved to 8.2:1 from 4.9:1
Financial Impact
Positive. Revenue up 27% and net income up 58% YoY with stable gross margins at 44%. Cash flow generation strong.
Risk Factors
- Geopolitical headwinds and global trade tariffs could impact supply chain and costs
- Working capital investments may increase, though liquidity appears sufficient
- Inventory levels remained high at $16.4M, though down from $20.9M at year-end
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001062993-26-002511 |
| Document: form8k.htm | 0001062993-26-002511 |
| Document: 0001062993-26-002511-index-headers.html | 0001062993-26-002511 |
| Document: 0001062993-26-002511-index.html | 0001062993-26-002511 |
| Document: 0001062993-26-002511.txt | 0001062993-26-002511 |
| 8-K Data (Synthetic) | 0001062993-26-002511 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 18d ago | SC 13G/A | $11.43 $11.00 | ▲ +3.76% | ▲ +2.27% | $10.33 (+9.62%) |
Oct 8, 2026 19d ago | DEFA14A | $11.50 $10.90 | ▼ −5.22% | ▼ −3.25% | $10.33 (−10.17%) |
Oct 8, 2026 19d ago | DEF 14A | $11.50 $10.90 | ▼ −5.22% | ▼ −3.25% | $10.33 (−10.17%) |
Aug 17, 2026 10w ago | 8-K | $11.90 $12.90 | ▲ +8.40% | ▲ +8.60% | $10.33 (−13.19%) |
Aug 14, 2026 10w ago | 8-K | $11.98 $11.77 | ▼ −1.75% | ▼ −0.39% | $10.33 (−13.77%) |
May 13, 2026 23w ago | 8-K | $12.20 $12.05 | ▼ −1.23% | ▼ −0.07% | $10.33 (−15.33%) |
May 12, 2026 24w ago | 8-K | $11.67 $12.10 | ▲ +3.68% | ▲ +3.61% | $10.33 (−11.48%) |
US Market Status
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