{"schema_version":"secwatch.filing_event.v1","accession":"0001062993-23-010715","form_type":"8-K","ticker":"LEAT","cik":"0001456189","company_name":"Leatt Corp","filed_at":"2023-05-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.927272+00:00","generated_at":"2026-06-15T03:57:20.862903+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Leatt Q1 2023 revenue down 46% to $13.1M; net income falls 76% to $1.02M","bullets":["Global revenues of $13.1M, down 46% from record $24.2M in Q1 2022; international sales fell 52% to $9.2M.","Net income of $1.02M ($0.17 basic EPS) vs $4.2M ($0.73) in prior year; operating income down 75% to $1.4M.","Gross profit margin improved to 44% from supply-chain improvements; cash and equivalents rose 60% to $11.4M.","Body armor sales fell $6.1M, helmet sales $2.6M; consumer direct sales (Leatt.com) grew 10%.","CEO cites post-Covid industry inventory digestion; expects return to double-digit growth in H2 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001062993-23-010715","json":"https://secwatch.observer/filing/0001062993-23-010715.json","markdown":"https://secwatch.observer/filing/0001062993-23-010715.md","text":"https://secwatch.observer/filing/0001062993-23-010715.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1456189/000106299323010715/0001062993-23-010715-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1456189/000106299323010715/form8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T03:57:20.862903+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"002dc1f2a90f3a8999c81b85203aa2d417831200","claim":"Leatt Corp reported first quarter ended March 31, 2023 results: revenue $13.1 million, net income $1.02 million, EPS $0.17 per basic and $0.16 per diluted share.","evidence_excerpt":"Total revenues for the first quarter of 2023 were $13.1 million, down 46%, compared to $24.2 million for the first quarter of 2022 which was an exceptional quarter for the Company. Revenues for the first quarter of 2022 increased by 88% when compared to the prior year period. The decrease in global revenues is attributable to a $6.1 million decrease in body armor sales, a $2.6 million decrease in helmet sales, a $1.7 million decrease in other products, parts, and accessories sales, and a $0.8 million decrease in neck brace sales. The impact of an exceptionally strong comparative quarter was compounded by industry-wide stocking dynamics that continue to affect distributor and dealer ordering levels. Income from operations for the first quarter of 2023 was $1.4 million, down 75%, compared to $5.6 million for the first quarter of 2022. Net income for the first quarter of 2023 was $1.02 million or $0.17 per basic and $0.16 per diluted share, down 76%, as compared to net income of $4.2 mi","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1456189/000106299323010715/0001062993-23-010715-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Revenue","value":"$13.1 million"},{"label":"Net income","value":"$1.02 million"},{"label":"EPS","value":"$0.17 per basic and $0.16 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}