XPEL Inc
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
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.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net income | $45,489 | $52,800 | $41,381 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation of property, plant and equipment | 5,820 | 4,534 | 3,433 |
| Amortization of intangible assets | 5,877 | 5,059 | 4,401 |
| Gain on sale of property and equipment | (49) | (13) | (8) |
| Stock compensation | 3,197 | 1,640 | 522 |
| Provision for credit losses | 390 | 243 | 467 |
| Deferred income tax | (2,745) | (921) | (471) |
| Accretion on notes payable | — | — | 7 |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | (5,604) | (7,000) | (2,631) |
| Inventory, net | (4,785) | (24,843) | (28,565) |
| Prepaid expenses and other assets | (2,154) | 604 | 259 |
| Income tax receivable or payable | (267) | (1,197) | 1,160 |
| Accounts payable and accrued liabilities | 2,655 | 6,478 | (7,898) |
| Net cash provided by operating activities | 47,824 | 37,384 | 12,057 |
| Cash flows used in investing activities | |||
| Purchase of property, plant and equipment | (6,713) | (6,356) | (7,936) |
| Proceeds from sale of property and equipment | 40 | 29 | 73 |
| Acquisitions, net of cash acquired, payment holdbacks, and notes payable | (9,855) | (18,735) | (4,673) |
| Development or purchase of intangible assets | (1,876) | (1,291) | (1,620) |
| Net cash used in investing activities | (18,404) | (26,353) | (14,156) |
| Cash flows from financing activities | |||
| Net (payments) borrowings on revolving credit agreements | (19,000) | (7,000) | 1,000 |
| Restricted stock withholding taxes paid in lieu of issued shares | (193) | (167) | (30) |
| Repayments of notes payable | (60) | (92) | (368) |
| Net cash (used in) provided by financing activities | (19,253) | (7,259) | 602 |
| Net change in cash and cash equivalents | 10,167 | 3,772 | (1,497) |
| Foreign exchange impact on cash and cash equivalents | 311 | (219) | (91) |
| Increase (Decrease) in cash and cash equivalents during the period | 10,478 | 3,553 | (1,588) |
| Cash and cash equivalents at beginning of year | 11,609 | 8,056 | 9,644 |
| Cash and cash equivalents at end of year | $22,087 | $11,609 | $8,056 |
| Supplemental schedule of non-cash activities | |||
| Contingent consideration | $1,600 | $— | $— |
| Non-cash lease financing | $8,701 | $4,231 | $6,094 |
| Issuance of common stock for vested restricted stock units | $1,110 | $1,038 | $222 |
| Supplemental cash flow information | |||
| Cash paid for income taxes | $13,617 | $15,293 | $9,897 |
| Cash paid for interest | $1,026 | $1,240 | $1,306 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.