Filing Flows › Leatt (LEAT) › Q1 2026
Leatt (LEAT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
Leatt (LEAT) reported revenue of $19.5M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +22% from the quarter before. Operating margin was 11.9%, net earnings $1.8M (9.1% of revenue).
Leatt, Q1 2026: revenue $19.5M (+27% year over year), operating margin 11.9%, net earnings $1.8M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.5M | +22% | +27% |
| Gross profit | $8.6M | +18% | +28% |
| Operating profit | $2.3M | +322% | +62% |
| Net earnings | $1.8M | +281% | +58% |
| Operating cash flow | $4.6M | 13× | +492% |
| Free cash flow | $4.4M | 86× | +666% |
What changed
Revenue was $19.5M in Q1 2026, up 27% year over year and up 22% from the previous quarter.
Gross margin was 44.0%, up 0.2 points from Q1 2025. Operating profit was $2.3M, a 11.9% margin (up 2.6 points year over year). Of the extra revenue versus Q1 2025, 21% reached operating profit, above the 9% margin then. Operating expenses grew 18% against revenue growth of 27%. The fastest-growing cost line was Research & development (+20%). Net earnings were $1.8M, up 58% year over year. The effective tax rate was 26.0%.
Operating cash flow was $4.6M (up 492% year over year), 257% of net earnings. Non-cash charges added back $515K of depreciation and amortization and $184K of share-based compensation. Working capital and other items added $2.1M. Capital expenditures of $167K left free cash flow of $4.4M.
Questions
What was Leatt's revenue in the first quarter 2026?
Leatt (LEAT) reported revenue of $19.5M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +22% from the quarter before.
Was Leatt profitable in the first quarter 2026?
Operating profit was $2.3M (11.9% of revenue) and net earnings $1.8M.
Source: Leatt 10-Q on SEC EDGAR.