XPEL Inc
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
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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Consolidated Statements of Income
(In thousands except per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue | |||
| Product revenue | $318,849 | $311,406 | $258,174 |
| Service revenue | 101,551 | 84,887 | 65,819 |
| Total revenue | 420,400 | 396,293 | 323,993 |
| Cost of Sales | |||
| Cost of product sales | 199,791 | 198,008 | 169,905 |
| Cost of service | 43,249 | 35,871 | 26,576 |
| Total cost of sales | 243,040 | 233,879 | 196,481 |
| Gross Margin | 177,360 | 162,414 | 127,512 |
| Operating Expenses | |||
| Sales and marketing | 42,817 | 31,788 | 25,367 |
| General and administrative | 75,396 | 63,654 | 48,208 |
| Total operating expenses | 118,213 | 95,442 | 73,575 |
| Operating Income | 59,147 | 66,972 | 53,937 |
| Interest expense | 996 | 1,248 | 1,410 |
| Foreign currency exchange loss/(gain) | 1,373 | (307) | 562 |
| Income before income taxes | 56,778 | 66,031 | 51,965 |
| Income tax expense | 11,289 | 13,231 | 10,584 |
| Net income | $45,489 | $52,800 | $41,381 |
| Earnings per share | |||
| Basic | $1.65 | $1.91 | $1.50 |
| Diluted | $1.65 | $1.91 | $1.50 |
| Weighted Average Number of Common Shares | |||
| Basic | 27,639 | 27,622 | 27,614 |
| Diluted | 27,643 | 27,634 | 27,616 |
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