Filing Flows › Leatt (LEAT) › Q1 2025
Leatt (LEAT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 14, 2025
Leatt (LEAT) reported revenue of $15.4M for the first quarter 2025 (Q1 2025), +45% from a year earlier and +37% from the quarter before. Operating margin was 9.3%, net earnings $1.1M (7.3% of revenue).
Leatt, Q1 2025: revenue $15.4M (+45% year over year), operating margin 9.3%, net earnings $1.1M, operating cash flow $768K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.4M | +37% | +45% |
| Gross profit | $6.7M | +46% | +68% |
| Operating profit | $1.4M | — | — |
| Net earnings | $1.1M | — | — |
| Operating cash flow | $768K | — | -73% |
| Free cash flow | $572K | — | -79% |
What changed
Revenue was $15.4M in Q1 2025, up 45% year over year and up 37% from the previous quarter.
Gross margin was 43.7%, up 6.0 points from a year earlier. Operating profit was $1.4M, a 9.3% margin (up 16.7 points year over year). Operating expenses grew 10% against revenue growth of 45%. The fastest-growing cost line was Research & development (+20%). Net earnings were $1.1M. The effective tax rate was 25.8%.
Operating cash flow was $768K (down 73% year over year), 69% of net earnings. Non-cash charges added back $327K of depreciation and amortization and $121K of share-based compensation. Working capital and other items used $801K. Capital expenditures of $196K left free cash flow of $572K.
Questions
What was Leatt's revenue in the first quarter 2025?
Leatt (LEAT) reported revenue of $15.4M for the first quarter 2025 (Q1 2025), +45% from a year earlier and +37% from the quarter before.
Was Leatt profitable in the first quarter 2025?
Operating profit was $1.4M (9.3% of revenue) and net earnings $1.1M.
Source: Leatt 10-Q on SEC EDGAR.