Leatt Q2 2023 revenue $12.35M, down 31% YoY; net income down 72%

Leatt Corp

2023-Q2 EPS reported $0.29 revenue$25,429,567

Revenue $12.35M, down 31% from $17.94M in Q2 2022.
Net income $776,139 ($0.13 basic EPS), down 72% from $2.73M.
Helmet sales up 48% to $3.52M, driven by MTB 3.0 and MOTO redesign.
Gross profit margin improved to 44% YTD from 41%; cash and equivalents $12M, up 69%.
CEO cites post-Covid inventory digestion as headwind; expects moderate recovery.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Leatt Corp reported second quarter ended June 30, 2023 results: revenue $12.35 million, net income $776,139, EPS $0.13 per basic and $0.12 per diluted share.

Period: second quarter ended June 30, 2023
Revenue: $12.35 million
Net income: $776,139
EPS: $0.13 per basic and $0.12 per diluted share
Result: reported results

Exact text from the filing

today announced financial results for the second quarter ending June 30, 2023. All financial numbers are in U.S. dollars. Second Quarter 2023 Snapshot • Global revenues were $12.35 million, down 31%, compared to the second quarter of 2022. • Gross profit margins increased from 41% to 44% for the first six months of 2023, compared to same period of 2022. • Net

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Source: SEC EDGAR

accession 0001062993-23-016122

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