XPEL Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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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.
Sep 30, 2024 · Filed Nov 8, 2024
XPEL$40.03+5.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net income | $36,591 | $40,830 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation of property, plant and equipment | 4,308 | 3,229 |
| Amortization of intangible assets | 4,327 | 3,660 |
| Gain on sale of property and equipment | (35) | (11) |
| Stock compensation | 2,329 | 1,144 |
| Provision for credit losses | 279 | 216 |
| Deferred income tax | (1,414) | (844) |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | (5,475) | (9,483) |
| Inventory, net | 5,174 | (11,583) |
| Prepaid expenses and other current assets | (2,785) | (7,288) |
| Income taxes receivable and payable | 370 | 320 |
| Accounts payable and accrued liabilities | (2,172) | 18,311 |
| Net cash provided by operating activities | 41,497 | 38,501 |
| Cash flows used in investing activities | ||
| Purchase of property, plant and equipment | (5,085) | (4,741) |
| Proceeds from sale of property and equipment | 40 | 20 |
| Acquisition of businesses, net of cash acquired | (6,520) | (4,697) |
| Development of intangible assets | (1,421) | (798) |
| Net cash used in investing activities | (12,986) | (10,216) |
| Cash flows from financing activities | ||
| Net payments on revolving line of credit | (19,000) | (26,000) |
| RSUs withheld in lieu of payroll taxes | (175) | (167) |
| Repayments of notes payable | (44) | (77) |
| Net cash used in financing activities | (19,219) | (26,244) |
| Net change in cash and cash equivalents | 9,292 | 2,041 |
| Foreign exchange impact on cash and cash equivalents | 85 | 277 |
| Increase in cash and cash equivalents during the period | 9,377 | 2,318 |
| Cash and cash equivalents at beginning of period | 11,609 | 8,056 |
| Cash and cash equivalents at end of period | $20,986 | $10,374 |
| Supplemental schedule of non-cash activities | ||
| Non-cash lease financing | $6,210 | $1,847 |
| Issuance of common stock for vested restricted stock units | $900 | $874 |
| Supplemental cash flow information | ||
| Cash paid for income taxes | $10,256 | $11,144 |
| Cash paid for interest | $995 | $1,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.