Leatt designs and sells personal protective equipment (PPE) for off-road motorcycle and mountain bike riders. The company started with the Leatt-Brace, a patented neck brace invented to prevent cervical spine injuries, and has since expanded into a head-to-toe gear brand. Leatt sells body armor (its largest category, including knee braces, boots, and chest protectors), helmets, apparel and accessories, and neck braces. Leatt targets three markets: Moto (off-road motorcycle), MTB (mountain biking), and ADV (adventure/dual-sport motorcycle riding), with ADV the newest and fastest-growing segment. Leatt sells through a global network of roughly 61 third-party distributors, who then sell to retailers and dealers. In the U.S. and South Africa, Leatt owns its distribution subsidiaries and also sells directly to consumers via e-commerce. International customers account for roughly 72% of revenue. Manufacturing is entirely outsourced, primarily to factories in China, with growing capacity in Southeast Asia — an asset-light model that avoids capital-intensive facilities but exposes Leatt to tariff and supply chain risk. Gross margins run around 43-44%, and Leatt is actively growing its direct-to-consumer channel, which carries higher margins than distributor sales. Key growth initiatives include expanding the ADV product line, building out DTC digital infrastructure, deepening U.S. dealer penetration, and entering Asian markets.