secwatch.observer — SEC 8-K summary
======================================

Issuer:     Leatt Corp (LEAT)
CIK:        0001456189
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0001062993-23-010715
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leatt Q1 2023 revenue down 46% to $13.1M; net income falls 76% to $1.02M
------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1456189/000106299323010715/0001062993-23-010715-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1456189/000106299323010715/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001062993-23-010715

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer