Headset sales mark another record revenue quarter for Leatt

CAPE TOWN, South Africa (BRAIN) – Leatt Corporation reported its seventh consecutive quarter of record sales, with an 88% increase in first quarter revenue year-over-year, driven by sales of ATV and motorcycle helmets.

Revenue for the quarter ending March 31 was $24.2 million, compared to $12.8 million for the same period last year. Net income was $4.2 million, up 105% from $2 million. Earnings per share for the quarter increased to $0.73 from $0.38 in 2021.

“Sales of headphones, an increasingly important product for us, were up 269% from the first quarter of 2021,” CEO Sean Macdonald said. “Helmets accounted for 23% of our revenue in the first quarter and remain an area in which we are investing heavily.”

Leatt also announced that its Reno, Nevada warehouse is now fully operational and positioned to deliver more inventory faster to the United States.

“We continue to build and invest heavily in our sales and distribution facilities in the United States, a region that offers tremendous growth potential,” Macdonald said. “We are also actively growing our team of inside sales reps to reach a wider dealer base of motorcycle and ATV dealers.”

Leatt is listed on the OTCQB markets under the LEATHER symbol.

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