Filing Flows › Leatt (LEAT) › Q2 2025
Leatt (LEAT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Leatt (LEAT) reported revenue of $16.2M for the second quarter 2025 (Q2 2025), +61% from a year earlier and +5% from the quarter before. Operating margin was 8.7%, net earnings $1.1M (7.0% of revenue).
Leatt, Q2 2025: revenue $16.2M (+60% year over year), operating margin 8.7%, net earnings $1.1M, operating cash flow $3.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.2M | +5% | +61% |
| Gross profit | $6.9M | +3% | +76% |
| Operating profit | $1.4M | -2% | — |
| Net earnings | $1.1M | +2% | — |
| Operating cash flow | $3.3M | +336% | 20× |
| Free cash flow | $3.2M | +458% | — |
What changed
Revenue was $16.2M in Q2 2025, up 61% year over year and up 5% from the previous quarter.
Gross margin was 42.6%, up 3.7 points from a year earlier. Operating profit was $1.4M, a 8.7% margin (up 19.9 points year over year). Operating expenses grew 9% against revenue growth of 61%. The fastest-growing cost line was Other operating costs (+16%). Net earnings were $1.1M. The effective tax rate was 25.0%.
Operating cash flow was $3.3M (up 1921% year over year), 294% of net earnings. Non-cash charges added back $333K of depreciation and amortization and $122K of share-based compensation. Working capital and other items added $1.8M. Capital expenditures of $153K left free cash flow of $3.2M.
Questions
What was Leatt's revenue in the second quarter 2025?
Leatt (LEAT) reported revenue of $16.2M for the second quarter 2025 (Q2 2025), +61% from a year earlier and +5% from the quarter before.
Was Leatt profitable in the second quarter 2025?
Operating profit was $1.4M (8.7% of revenue) and net earnings $1.1M.
Source: Leatt 10-Q on SEC EDGAR.