XPEL Inc

For the period ended Jun 30, 2024. Filed Aug 9, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 9, 2024

XPEL$40.03+5.3%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

Condensed Consolidated Statements of Income (Unaudited)

(In thousands, except per share data)

	Three Months EndedJune 30,		Six Months EndedJune 30,
	2024	2023	2024	2023
Revenue
Product revenue	$83,200	$80,906	$150,052	$148,214
Service revenue	26,717	21,331	49,969	39,864
Total revenue	109,917	102,237	200,021	188,078
Cost of Sales
Cost of product sales	51,274	49,557	93,409	91,737
Cost of service	10,778	8,686	20,871	16,388
Total cost of sales	62,052	58,243	114,280	108,125
Gross Margin	47,865	43,994	85,741	79,953
Operating Expenses
Sales and marketing	10,280	8,147	20,671	14,824
General and administrative	18,399	15,656	36,655	30,010
Total operating expenses	28,679	23,803	57,326	44,834
Operating Income	19,186	20,191	28,415	35,119
Interest expense	392	338	865	860
Foreign currency exchange loss	275	32	548	21
Income before income taxes	18,519	19,821	27,002	34,238
Income tax expense	3,486	4,080	5,303	7,064
Net income	$15,033	$15,741	$21,699	$27,174
Earnings per share
Basic	$0.54	$0.57	$0.79	$0.98
Diluted	$0.54	$0.57	$0.79	$0.98
Weighted Average Number of Common Shares
Basic	27,635	27,619	27,633	27,617
Diluted	27,637	27,631	27,637	27,629

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.