While much of the bike industry is still navigating post-COVID turbulence, two major players just posted real growth—and that’s good news for everyone. If you’ve been reading bike industry headlines lately, you’d be forgiven for thinking it’s all layoffs and liquidations. But the Q2 results from Fox Factory tell a different story.
Fox’s Specialty Sports Group, which includes Fox Racing Shox, Marzocchi, Race Face, Easton and Ride Concepts, posted $137.2 million in sales this quarter. That’s an 11 per cent jump from Q2 last year. It’s the second consecutive quarter of growth in a row.
That’s not just a bounce. That’s a sign of stabilization in bike sales, according to CEO Mike Dennison. Despite getting hit with an expected $50 million in tariffs this year, Fox has revised its full-year sales guidance upward, now forecasting up to $1.51 billion in revenue by year-end.
Earnings per share came in slightly below expectations, but investors didn’t flinch. Fox’s stock climbed over 3 per cent in aftermarket trading following the earnings call. When a company can shrug off $50 million in tariffs and still increase guidance, it’s a reminder: there’s real resilience behind the scenes.
Leatt is on a tear
Over in Cape Town, South Africa, Leatt Corporation just delivered an impressive quarter. The head-to-toe protection brand—best known for its helmets, body armour and neck braces—reported $16.18 million in Q2 revenue, up 61 per cent year-over-year. Net income? Up an impressive 208 per cent.
This marks Leatt’s fourth straight quarter of growth, and their third in a row with double-digit expansion. Proof that post-COVID inventory bloat is finally easing? Every major product category saw a bump: helmets led the way with 117 per cent growth, body armour rose 48 per cent and accessories climbed 65 per cent. The neck brace grew 19 per cent.
Direct-to-consumer sales were up 35 per cent, and U.S. dealer-direct MTB and moto sales climbed 45 per cent, despite some remaining inventory overhang at the shop level.
“We remain passionate about our future,” said CEO Sean Macdonald. “We’re investing in innovation, expanding our team and building Leatt into a global consumer-facing brand. Participation remains strong. Demand is strong. And we’re growing.”
Optimism, with a dose of reality
No one’s denying that the bike industry still has work to do. Inventory levels are still high in spots. Tariffs are a very real threat. And not…
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