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Leatt cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$2.6M in Q2 2026 · $3.9M over twelve months

Operating cash flow$2.9M
Capital spending−$324K
Free cash flow+$2.6M
Cash / net income3.2×
Cash conversion cycle137 days

Analysis

In Q2 2026, Leatt generated $2.9M of operating cash flow and spent $324K on capital projects, leaving free cash flow of $2.6M. That is $628K less than in Q2 2025 ($3.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was $5.1M; the largest uses were capital spending ($1.2M), buybacks ($357K), net borrowing (+) / repaid (−) ($12K); besides operations, cash came from other financing ($39K), asset & business sales ($10K); the cash balance rose by $3.8M.

Operating cash flow was $2.9M against net income of $909K — 3.2× profit, cash ran ahead of reported earnings. The largest differences: inventory +$2.4M, payables +$1.3M, receivables −$701K.

Its cash conversion cycle was 137 days (receivables 37 + inventory 154 − payables 54).

Free cash flow

Leatt: free cash flow by quarterLeatt: free cash flow by quarter−$640KQ3 2024−$552KQ4 2024$572KQ1 2025$3.2MQ2 2025−$3.1MQ3 2025$51KQ4 2025$4.4MQ1 2026$2.6MQ2 2026
Operating cash flow less capital spending.
Leatt: operating cash flow against capital spendingLeatt: operating cash flow against capital spendingOperating cash flowCapital spending−$18K$622KQ3 2024−$183K$368KQ4 2024$768K$196KQ1 2025$3.3M$153KQ2 2025−$2.7M$423KQ3 2025$361K$310KQ4 2025$4.6M$167KQ1 2026$2.9M$324KQ2 2026
Latest (Q2 2026): Operating cash flow $2.9M, Capital spending $324K.

Capital allocation, year by year

Leatt: where the cash came from (up) and went (down), by fiscal yearLeatt: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $2.8MFY2021: Net borrowing $297KFY2021: Shares issued $26KFY2021: Asset sales $2KFY2021: Capital spending −$1.1M$3.1MFY2021FY2022: Operating cash flow $3.1MFY2022: Net borrowing $88KFY2022: Shares issued $256KFY2022: Asset sales $43KFY2022: Capital spending −$1.1M$3.5MFY2022FY2023: Operating cash flow $6.7MFY2023: Net borrowing −$1KFY2023: Asset sales $3KFY2023: Capital spending −$2.0M$6.7MFY2023FY2024: Operating cash flow $2.8MFY2024: Net borrowing −$917KFY2024: Asset sales $1KFY2024: Capital spending −$1.2M$2.8MFY2024FY2025: Operating cash flow $1.8MFY2025: Net borrowing $37KFY2025: Asset sales $29KFY2025: Capital spending −$1.1MFY2025: Buybacks −$255K$1.9MFY2025
Over these 5 years operating cash flow totalled $17.1M; the largest uses were capital spending ($6.6M) and net borrowing ($918K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$19.4M
Debt$226K
Net cash$19.2M

Leatt funds itself: free cash flow was $3.9M over the last twelve months, and $19.4M of cash and investments stands against $226K of debt.

Where the cash came from and went

Leatt: sources (+) and uses (−) of cash, Q2 2026Leatt: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$2.9MCash drawn (+) / kept (−)−$2.3MCapital spending−$324KNet borrowing (+) / repaid (−)−$317KExchange rates$122KBuybacks−$33K
Leatt: sources (+) and uses (−) of cash, TTM to Q2 2026Leatt: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$5.1MCash drawn (+) / kept (−)−$3.8MCapital spending−$1.2MBuybacks−$357KExchange rates$213KOther financing$39KNet borrowing (+) / repaid (−)−$12KAsset & business sales$10K

From profit to cash

Leatt: net income to operating cash flow, Q2 2026Leatt: net income to operating cash flow, Q2 2026Net income$909KDepreciation & amortization$284KStock-based pay$140KReceivables−$701KInventory$2.4MPayables$1.3MPrepaid and other assets−$672KOther liabilities$30KOperating cash flow$2.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20263715454137
Q1 20263315355131
Q4 20255420187168
Q3 20256117371163
Q2 20254114645142
Q1 20253718261158
Q4 20245923689205
Q3 20245220160193

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$2.9M−$324K−$33K−$317K−$2.3M$2.6M
Q1 2026$4.6M−$167K−$69K−$261K−$4.0M$4.4M
Q4 2025$361K−$310K−$118K−$5K−$842K$51K
Q3 2025−$2.7M−$423K−$137K−$185K$3.3M−$3.1M
Q2 2025$3.3M−$153K—−$265K−$3.0M$3.2M
Q1 2025$768K−$196K—−$301K−$331K$572K
Q4 2024−$183K−$368K—−$29K$102K−$552K
Q3 2024−$18K−$622K—−$423K$860K−$640K

Leatt: income statement and cash flow

Leatt, Q2 2026: revenue $16.4M (+1% year over year), operating margin 7.0%. The chart follows the revenue to costs, profit and cash.

Leatt: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.