XPEL Inc

For the period ended Sep 30, 2024. Filed Nov 8, 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.

Sep 30, 2024 · Filed Nov 8, 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 EndedSeptember 30,		Nine Months EndedSeptember 30,
	2024	2023	2024	2023
Revenue
Product revenue	$86,950	$81,125	$237,002	$229,339
Service revenue	25,902	21,552	75,871	61,416
Total revenue	112,852	102,677	312,873	290,755
Cost of Sales
Cost of product sales	53,967	51,876	147,376	143,613
Cost of service	10,969	9,272	31,840	25,660
Total cost of sales	64,936	61,148	179,216	169,273
Gross Margin	47,916	41,529	133,657	121,482
Operating Expenses
Sales and marketing	10,637	7,730	31,308	22,554
General and administrative	18,892	16,170	55,547	46,180
Total operating expenses	29,529	23,900	86,855	68,734
Operating Income	18,387	17,629	46,802	52,748
Interest expense	97	85	962	946
Foreign currency exchange (gain)/loss	(332)	398	216	419
Income before income taxes	18,622	17,146	45,624	51,383
Income tax expense	3,730	3,490	9,033	10,553
Net income	$14,892	$13,656	$36,591	$40,830
Earnings per share
Basic	$0.54	$0.49	$1.32	$1.48
Diluted	$0.54	$0.49	$1.32	$1.48
Weighted Average Number of Common Shares
Basic	27,642	27,623	27,636	27,620
Diluted	27,644	27,644	27,639	27,634

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.