The following is a summary of the Leatt Corporation (LEAT) Q4 2023 Earnings Call Transcript:

Financial Performance:

• In 2023, Leatt Corporation reported a total global revenue of $47.24 million, marking a 38% decrease from 2022.

• The Q4 2023 revenues were 10% less than the same period in 2022, reaching $9.8 million.

• The net income for the full year of 2023 was significantly lower than the previous year, decreasing by 92% to $803,000 or $0.13 per share.

• Despite the lower revenues, the operating cash flows in 2023 had grown by $3.57 million, leading to a total of $6.66 million.

• At the end of 2023, the company held a total cash and cash equivalent amount of $11.35 million.

Business Progress:

• There have been promising signs of recovery in specific regions, as MOTO dealer sales in the U.S. and emerging markets in Europe showed progress in Q4 2023, marked by a double-digit growth in Leatt's e-commerce revenues.

• Leatt has expanded into the broader crossover motorcycle market with the successful launch of their new line of Adventure Gear, designed for all weather and terrain conditions.

• In a bid to maintain brand strength, the focus remains on efficient multi-channel distribution strategies and controlled promotional activity.

• The company was recognized with its 10th Design and Innovation Award for the MTB All Mountain 5.0 jersey and All Mountain 4.0 pants.

• Leatt's management is optimistic about future growth prospects, with plans to continue the development of innovative products, channel expansion, and effective management of industry turbulence.

More details: LEATT CORPORATION IR

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