Leatt Business Summary

Leatt Corporation (LEAT) operates an asset-light business model focused on the design, development, and global distribution of high-performance personal protective equipment (PPE) for the powersports and mountain biking (MTB) industries. The company generates revenue through three primary segments: Body Armor (including footwear and limb protection), Helmets, and its flagship Neck Braces, supplemented by a growing "Other" category encompassing technical apparel, goggles, and hydration systems. Distribution is diversified across international distributors (accounting for approximately 69% of sales), a U.S. dealer-direct network, and a rapidly expanding direct-to-consumer (DTC) digital platform which saw 61% year-over-year growth as of late 2025. Leatt competes directly with premium gear manufacturers such as Fox Racing, Alpinestars, Troy Lee Designs, and Giro Sport Design, positioning itself as a safety-centric innovator that leverages proprietary technologies like the 360° Turbine system to maintain a specialized "head-to-toe" market presence. The company was founded in 2001 by Dr. Christopher Leatt, a medical practitioner whose clinical insights into motorcycle trauma led to the development of the patented Leatt-Brace. Dr. Leatt continues to lead the company’s innovation pipeline as Chairman and Head of Research and Development (acting as the technical lead). The executive team is anchored by Sean Macdonald, who has served as Chief Executive Officer and President since 2010 and Chief Financial Officer since 2009, bringing a background in large-scale retail strategy from his tenure at Cyclelab. Other key leadership includes Lara-Jane Pretorius as Chief Legal and Compliance Officer and industry veteran Nick Larsen, who joined in late 2025 as Head of Brand, Marketing, and Creative. The company maintains strong insider alignment, with Dr. Leatt and Mr. Macdonald collectively holding approximately 37% of common stock, while the board is supported by independent director Jeffrey J. Guzy and notable institutional interest from Astoria Investments.