Q4 2024 Leatt Corp Earnings Call Transcript
Key Points
- Leatt Corp (LEAT) experienced a return to double-digit revenue growth in the fourth quarter, with a 14% increase compared to the same period in 2023.
- International distributor sales grew by 24% in the fourth quarter, indicating strong global demand.
- Gross profit as a percentage of sales improved from 36% to 41% year-over-year in the fourth quarter.
- The company has been recognized with two prestigious design and innovation awards for 2025, highlighting its commitment to innovation and quality.
- Leatt Corp (LEAT) has strengthened its sales and marketing team, including the addition of a new VP of MOTO and ADV sales, to enhance its market presence and performance.
- Total revenues for the full year 2024 decreased by 7% compared to 2023, primarily due to declines in helmet and neck brace sales.
- Net loss for the full year 2024 was $2.2 million, a significant increase from the $803,000 loss in 2023.
- International distributor sales decreased by 11.5% for the full year 2024 as distributors adjusted elevated inventory levels.
- US MOTO dealer direct sales at the brick-and-mortar level contracted by 8%, impacting overall dealer direct sales growth.
- The company faces challenges from geopolitical trading and economic headwinds, which could impact future demand.
Greetings, and welcome to the Leatt Corporation fourth-quarter 2024 results call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Mr. Michael Mason, Investor Relations for Leatt Corporation. Thank you. You may begin.
Thanks, Melissa. Good morning, and welcome to the Leatt Corporation investor conference call to discuss the financial results for the fourth-quarter and full-year 2024. The company issued a press release today, Friday, March 28, 2025, and at 8:00 AM Eastern, and filed its report with the SEC. The press release is posted on our Leatt's website at leatt-corp.com.
This call is being broadcast live and may be accessed on the company's website. An audio replay of this call will be available for 7 days and may be accessed from North America by calling 1-844-512-2921 or 1-412-317-6671 for international callers. The replay PIN number is 13752688. A replay of the webcast will be available immediately
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