Latest news with #MOTO
Yahoo
6 days ago
- Automotive
- Yahoo
Leatt Corp Announces Share Repurchase Program
CAPE TOWN, South Africa, Aug. 12, 2025 /PRNewswire/ -- Leatt Corporation (OTCQB: LEAT), a leading developer and marketer of head-to-toe protective equipment for MOTO, MTB, and a wide range of extreme and high-velocity sports, today announced that its Board of Directors has authorized a share repurchase program of up to $750,000 of the Company's outstanding common stock. "This share repurchase program reflects our confidence in the future outlook of our business, the soundness of our balance sheet, and the overall strength of the Leatt organization," said Sean Macdonald, Chief Executive Officer. "We believe that this program provides an opportunity to enhance long-term shareholder value, while delivering on our mission of developing and manufacturing cutting-edge protective products for participants in extreme sports." Repurchases may be made from time to time at the discretion of the Board of Directors through open-market transactions in accordance with applicable securities laws. The repurchase program expires on December 31, 2025, and can be suspended or discontinued at any time prior to the expiration date. No shares have been repurchased under the program to date. There can be no assurance as to the timing or number of shares of any repurchases, if any. About Leatt Corp Driven by the science of thrill, Leatt Corporation develops head-to-toe personal protective gear for various sports, with a focus on mountain biking and extreme motorsports. This includes the award-winning Leatt-Brace®, a neck brace system considered the gold standard for neck protection when worn in conjunction with a helmet. Leatt products are designed for participants in extreme sports that use motorcycles, bicycles, mountain bikes, all-terrain vehicles, snowmobiles, and other open-air vehicles. For more information, visit Follow Leatt® on Facebook, Twitter, and Instagram. Forward-looking Statements This press release may contain forward-looking statements regarding Leatt Corporation (the "Company") within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the significance of the Company's share repurchase plan and its ability to enhance the long-term value of the Company's securities; the general ability of the Company to achieve its commercial objectives, including its continued development and manufacturing of cutting-edge protective products; the business strategy, plans and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "seeks," "should," "could," "intends," or "projects" or similar expressions, and involve known and unknown risks and uncertainties. These statements are based upon the Company's current expectations and speak only as of the date hereof. Any indication of the merits of a claim does not necessarily mean the claim will prevail at trial or otherwise. Financial performance in one period does not necessarily mean continued or better performance in the future. The Company's actual results in any endeavor may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, which factors or uncertainties may be beyond our ability to foresee or control. Other risk factors include the status of the Company's common stock as a "penny stock" and those listed in other reports posted on The OTC Markets Group, Inc. View original content: SOURCE Leatt Corporation
USA Today
08-07-2025
- Automotive
- USA Today
Jeff Bezos-backed Slate electric truck draws crowds at Midwest showcase
The first question Lauren Gregory's 7-year-old son, James, had about the Slate pickup parked inside the MOTO gathering space in Ferndale, Michigan, spoke volumes about what the electric truck is not. 'He said when he got in, 'Where's the TVs?'' Gregory said, standing beside the truck as intrigued guests filtered through the room. 'It's very simple on the inside.' The truck, the creation of a Jeff Bezos-backed electric vehicle startup with an office in Troy, Michigan, is not a typical pickup. The version shown on June 29 was a prototype, so not ready for production, but the model potential customers hope to see next year won't include many of the accoutrements — infotainment systems being a notable absence — that modern-day car buyers have come to expect. Those additions, the folks at Slate noted, also help drive up the cost of new cars, a key gripe of many consumers and something that this vehicle is designed to address, with a price tag expected to be in the mid-$20,000s. Gregory, 41, of Beverly Hills, unlike some other folks who spoke to a Free Press reporter — part of the USA TODAY Network — has not placed a $50 refundable reservation for the truck, but she indicated she's intrigued because it's billed as highly customizable. In fact, the vehicles would start as two-seater trucks but offer kits to transform them, with seating for five possible. The options include a squareback or fastback SUV, open air or cargo. Gregory said her son 'loves the idea it's a Mr. Potato Head,' one of the best-known customizable children's toys. Some consumers, she noted, might find the hand-cranked windows to be 'non-negotiable,' but not Gregory. 'I feel like everything's done for us these days,' she said, noting that a hand-cranked window would be 'perfectly fine.' In case you missed it: Is the Slate electric pickup truck a Tesla killer? What the Bezos-backed truck could mean for the EV race That was the assessment from a number of folks, remembering with some nostalgia the cars of past eras before electronics took over. One man sounded genuinely surprised that the crank actually worked on this model. Craig Woods, 65, of Allendale, near Grand Rapids, drove from western Michigan specifically to see and touch the two-seater truck. It reminded Woods of his old Ford Ranger, a smaller truck than the version on the roads today. 'I was always looking for a small pickup,' not 'beastly' like other available models, Woods said. 'Overall, the vehicle looks like it's going to be a good, solid, entry-level EV.' Woods, who put in his $50 reservation a couple of months ago, drives a Kia Soul with a trailer to handle his towing needs currently. If he's able to purchase a Slate, it would be his first EV, hitting a price point that makes going electric attractive. Woods said he wants to do his part for the environment, but even beyond that, he said he believes EVs represent the future direction of transportation. The rear-wheel-drive Slate will offer two battery options, of up to 150 miles or 240 miles of range. The vehicles will be built in Warsaw, Indiana, and Slate said it intends to sell directly to consumers. The truck is expected to have a towing capacity of 1,000 pounds, with a cargo bed that's 35.1 cubic feet and 5 feet long. The frunk (where the engine would normally sit in non-electric vehicles) is 7 cubic feet, according to the company. The vehicles will come in a basic gray, with color customization through wraps. The company said it will have wrap kits starting at about $500. The model on display on Sunday had a blue wrap with orangish-yellow striping along the lower sides, with a couple of palm tree silhouettes. Derek Ochodnicky, 38, of Berkley would probably be OK with the stock color (he loves gray). Michigan winters had him wondering about the longevity of a wrap. He'd brought his daughter, 2-year-old Dani, along to see the Slate. She loves cars, he noted. Ochodnicky, who likes to 'mod cars,' indicated he'd be looking at the SUV option, as a two-seater 'probably won't cut it' with Dani and an expected future sibling. If the price is in the $20,000-$25,000 range, that would appeal to him. Ochodnicky wasn't sold, however, on the exposed bolts on the sides of the vehicle, a possible invitation he thought for a passerby with nefarious plans. He said he'd be 'interested to see what the fit and finish is when it reaches production.' A Slate agent on site, Kylee Flake, indicated that the bolts would remain visible. Ochodnicky did note the conundrum that some buyers may face. 'Part of me' wants the back-to-basics vehicle, but Ochodnicky said he also likes his creature comforts. Contact Eric D. Lawrence: elawrence@ Become a subscriber. Submit a letter to the editor at
Yahoo
29-03-2025
- Business
- Yahoo
Leatt Corp (LEAT) Q4 2024 Earnings Call Highlights: Strong Q4 Growth Amidst Yearly Challenges
Total Revenue (Q4 2024): $11.19 million, up 14% from Q4 2023. Total Revenue (Full Year 2024): $44 million, a 7% decrease from 2023. Net Loss (Q4 2024): $446,000 or $0.07 per basic and diluted share. Net Loss (Full Year 2024): $2.2 million or $0.35 per basic share and $0.34 per diluted share. Gross Margin (Q4 2024): Increased to 41% from 36% in Q4 2023. Cash and Cash Equivalents (End of 2024): $12.37 million, up from $11.35 million at the end of 2023. Body Armor Revenue (2024): $22.46 million, a 1% decrease year-over-year. Helmet Revenue (2024): $8.39 million, a 25% decrease year-over-year. Other Products, Parts, and Accessories Revenue (2024): $10.74 million, a 1% decrease year-over-year. International Distributor Sales (Q4 2024): Grew by 24%. International Distributor Sales (Full Year 2024): Decreased by 11.5%. Cash Flow from Operations (Full Year 2024): $2.8 million. Warning! GuruFocus has detected 5 Warning Signs with LEAT. Release Date: March 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. 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. Q: Could you comment on the impact and any response to the escalating trade war and tariffs? What degree of flexibility do you have on the manufacturing side to mitigate this? A: We are closely monitoring the situation and have taken steps to increase flexibility. We have established supply channels outside of China, including Cambodia, Bangladesh, Thailand, Taiwan, and soon Vietnam. Our relationships with suppliers in Asia are strong, and we are working to maintain margins despite the trade war. Q: In the 10-K, you noted an increase in rent expenses related to warehousing costs for global shipping. Is this a reclassification of expenses previously under cost of goods, or are you doing something differently operationally? A: We are reclassifying some expenses that were previously under cost of goods to warehousing costs below the cost of sales line to manage them more carefully. Q: Regarding personnel changes in the US and new leadership on the MOTO side, does this signal a change in direction? How are you thinking about US sales and marketing priorities? A: It's an intensification of efforts, especially on the MOTO sales side. We see growth opportunities in the US, particularly in MTB and MOTO. The new VP of MOTO sales brings strong skills and industry contacts, which we believe will enhance our sales efforts and dealer relationships. Q: How are the financial difficulties and restructuring at KTM affecting you, and how does this relate to the softness in US MOTO dealer sales? A: The situation with KTM has impacted dealer sentiment and created uncertainty. Dealers with significant KTM stock are under stress, affecting their willingness to invest. We hope the uncertainty resolves quickly, as participation remains strong, and interest rate changes could positively impact dealer financing. Q: With the industry stabilizing, how do you plan to use cash, especially with nearly $2 a share now? A: We plan to reinvest cash into working capital and inventory, particularly as international distribution orders increase. We are also looking at opportunities to use cash efficiently, including marketing investments in new categories like ADV. Q: Is the goal of reaching $100 million in sales still feasible, and do you expect to earn profits as you grow? A: We believe reaching $100 million in sales is feasible and expect profitability along the way. Our current team and marketing levels are set up for future growth, and we aim for double-digit growth annually. We anticipate being strongly profitable as we approach $100 million in sales. Q: How do you view the normalized level of sales for the business, considering macro trends and industry conditions? A: The industry is still depressed, but we expect normalization with double-digit growth over the next one to two years. Different categories are at different recovery stages, but we see significant growth opportunities, especially given our current market share position. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
