false000176725800017672582024-08-082024-08-08
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
August 8, 2024
Date of Report (date of earliest event reported)
XPEL, INC.
(Exact name of registrant as specified in its charter)
| | | | | | | | | | | |
Nevada | 001-38858 | 20-1117381 |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| | | |
711 Broadway, Suite 320 | 78215 |
San Antonio | Texas | | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant's telephone number, including area code: (210) 678-3700
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock, par value $0.001 per share | XPEL | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On August 8, 2024, XPEL, Inc. (“XPEL”) announced its consolidated financial results for the three and six months ended June 30, 2024. A copy of the press release is attached as Exhibit 99.1 to this current report on Form 8-K, and the information set forth therein is incorporated herein by reference and constitutes a part of this report.
The information contained in Item 2.02 of this report and Exhibit 99.1 to this report shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any filings made by XPEL under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
The following exhibit is to be filed as part of this Form 8-K:
| | | | | | | | |
EXHIBIT NO. | | IDENTIFICATION OF EXHIBIT |
99.1 | | |
104 | | Cover Page Interactive Data File (embedded within the Inline XBRL Document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | | | |
| XPEL, Inc. |
| |
Dated: August 8, 2024 | By: /s/ Barry R. Wood |
| Barry R. Wood |
| Senior Vice President and Chief Financial Officer |
XPEL Reports Record Revenue of $109.9 million in Second Quarter 2024
San Antonio, TX – August 8, 2024 – XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of protective films and coatings, announced consolidated results1 for the second quarter of 2024.
Second Quarter 2024 Overview:
•Revenue increased 7.5% to $109.9 million in the second quarter of 2024.
•Gross margin of 43.5% in the second quarter of 2024.
•Net income of $15.0 million, or $0.54 per basic and diluted share, versus net income of $15.7 million, or $0.57 per basic and diluted share in the second quarter of 2023.
•EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $21.8 million, or 19.9% of revenue, compared to $22.4 million, or 21.9% of revenue in the second quarter of 2023. 2
First Six Months 2024 Overview:
•Revenue increased 6.4% to $200.0 million in the first six months of 2024.
•Gross margin of 42.9% in the first six months of 2024.
•Net income of $21.7 million, or $0.79 per basic and diluted share, versus net income of $27.2 million, or $0.98 per basic and diluted share in the first six months of 2023.
•EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $33.5 million, or 16.8% of revenue, compared to $39.5 million, or 21.0% of revenue in the first six months of 2023.2
Ryan Pape, President and Chief Executive Officer of XPEL, commented, "We saw record revenue, record operating cash flow and solid gross margin performance in the second quarter. We are off to a great start in Q3 and we remain well positioned to capitalize on growth opportunities wherever they may exist."
Financial Highlights for the Second Quarter 2024:
Summary consolidated financial information for the three months ended June 30, 2024 and 2023 (unaudited, dollars in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended June 30, | % Change |
| 2024 | | % of Total Revenue | | 2023 | | % of Total Revenue | | 2024 vs. 2023 |
Total revenue | $ | 109,917 | | | 100.0 | % | | $ | 102,237 | | | 100.0 | % | | 7.5 | % |
Gross margin | 47,865 | | | 43.5 | % | | 43,994 | | | 43.0 | % | | 8.8 | % |
Operating Expenses | 28,679 | | | 26.1 | % | | 23,803 | | | 23.3 | % | | 20.5 | % |
Operating income | 19,186 | | | 17.5 | % | | 20,191 | | | 19.7 | % | | (5.0) | % |
Net income | 15,033 | | | 13.7 | % | | 15,741 | | | 15.4 | % | | (4.5) | % |
EBITDA2 | 21,824 | | | 19.9 | % | | 22,428 | | | 21.9 | % | | (2.7) | % |
Net cash provided by operating activities | $ | 26,896 | | | n/a | | $ | 26,680 | | | n/a | | n/a |
Geographical Revenue Summary
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended June 30, | | % Change | | % of Total Revenue |
| 2024 | | 2023 | | Inc (Dec) | | 2024 | | 2023 |
United States | $ | 64,902 | | | $ | 59,149 | | | 9.7 | % | | 59.0 | % | | 57.9 | % |
China | 4,401 | | | 8,103 | | | (45.7) | % | | 4.0 | % | | 7.9 | % |
Canada | 13,274 | | | 11,851 | | | 12.0 | % | | 12.1 | % | | 11.6 | % |
Continental Europe | 11,355 | | | 9,689 | | | 17.2 | % | | 10.3 | % | | 9.5 | % |
United Kingdom | 3,689 | | | 3,630 | | | 1.6 | % | | 3.4 | % | | 3.6 | % |
Middle East/Africa | 4,803 | | | 4,109 | | | 16.9 | % | | 4.4 | % | | 4.0 | % |
Asia Pacific | 4,334 | | | 3,314 | | | 30.8 | % | | 3.9 | % | | 3.2 | % |
Latin America | 3,159 | | | 2,119 | | | 49.1 | % | | 2.9 | % | | 2.1 | % |
Other | — | | | 273 | | | (100.0) | % | | 0.0 | % | | 0.2 | % |
Total | $ | 109,917 | | | $ | 102,237 | | | 7.5 | % | | 100.0 | % | | 100.0 | % |
Overall Revenue
•Total revenue grew 7.5% compared to second quarter 2023 ("YoY") and 22.0% over the first quarter 2024 ("QoQ"). Excluding China, total revenue grew 12.1% YoY.
•US revenue grew 9.7% YoY and 24.8% QoQ.
•All other revenue (excluding US and China) grew 16.1% YoY and 11.0% QoQ.
Product and Service Revenue
•Total product revenue increased 2.8% YoY and 24.5% QoQ. This increase was due to growth in most geographical regions, offset by a decline in sales to our distributor in China. Excluding China, total product revenue increased 8.2% YoY.
•Total window film increased 8.4% YoY and 51.3% QoQ and represented 20.0% of total revenue. Excluding China, total window film revenue grew 18.6% YoY.
•Total service revenue increased 25.2% YoY and 14.9% QoQ. The increase was mainly due to increases in the Company's dealership services and OEM businesses.
•Total installation revenue (labor and product combined) grew 33.9% YoY and 16.5% QoQ and represented 21.1% of total revenue. This increase was due primarily to increased demand in XPEL's dealership services and OEM businesses.
•Adjusted product revenue (combining cutbank credits revenue and product revenue) increased 2.8% YoY and 24.1% QoQ. Excluding China, adjusted product revenue increased 7.8% YoY.
Other Financial Information
•Gross margin percentage was 43.5% and 43.0% in the second quarter, 2024 and 2023, respectively.
•Total operating expenses grew 20.5% YoY and essentially flat QoQ.
•Sales and marketing expenses grew 26.2% YoY and declined 1.1% QoQ and represented 9.4% of revenue.
•General and administrative expenses grew 17.5% YoY and 0.8% QoQ and represented 16.7% of revenue.
•Net income declined 4.5% YoY and increased 125.5% QoQ.
•EBITDA declined 2.7% YoY2 and increased 86.5% QoQ.
•Cash flows provided by operations increased $0.2 million YoY and $31.9 million QoQ to a record $26.9 million in the second quarter 2024.
2024 Outlook
•Annual revenue growth projection remains 8-10%.
Please see the information under "Forward-looking Statements" below regarding certain cautionary statements relating to our 2024 Outlook.
Conference Call Information
The Company will host a conference call and webcast today, August 8, 2024 at 11:00 a.m. Eastern Time to discuss the Company’s second quarter 2024 results.
To access the live webcast, please visit the XPEL, Inc. website at www.xpel.com/events-presentations.
To participate in the call by phone, dial 888-506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 871439.
A replay of the teleconference will be available until September 1, 2024 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 50361.
About XPEL, Inc.
XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films, and ceramic coatings. With a global footprint, a network of trained installers and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support and world-class training. XPEL, Inc. is publicly traded on Nasdaq under the symbol “XPEL”.
1 The results summarized above for 2024 are preliminary and unaudited. As the Company completes its quarter-end financial close processes and finalizes its financial statements for the second quarter of 2024, it is possible that the Company may identify items that require it to make adjustments to the preliminary information set forth above, and those adjustments could be material. Full second quarter 2024 financial information will be included in the filing of the Company’s Quarterly Report on Form 10-Q with the Securities and Exchange Commission which is anticipated on or prior to August 9, 2024.
2 See "Non-GAAP Financial Measure" and "Reconciliation of Non-GAAP Financial Measure" below.
Forward-looking Statements
This release includes forward-looking statements (within the meaning of Section 27A of the Securities act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding XPEL,
Inc. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, execution of the company's growth strategy and outlook. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "is expected," "expects," "scheduled," "intends," "contemplates," "anticipates," "believes," "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and assumptions of the management of XPEL. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors relate to, among others: competition, a prolonged or material contraction in automotive sales and production volumes, disruption in our supply chain, technology that could render our products obsolete, changes in the way vehicles are sold, our brand and reputation, cyber events and other legal and regulatory developments. There are several risks, uncertainties, and other important factors, many of which are beyond the Company’s control, that could cause its actual results to differ materially from the forward-looking statements contained in this press release, including those described in the “Risk Factors” section of Annual Report on Form 10-K. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Non-GAAP Financial Measure
To aid in the understanding of XPEL's ongoing business performance, XPEL uses EBITDA, a non-GAAP financial measure. EBITDA is defined as net income (loss) plus interest expense, net, plus income tax expense plus depreciation and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. It is not a measurement of XPEL's financial performance under GAAP and should not be considered as an alternative to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly title measures. For a full reconciliation of EBITDA to comparable GAAP measure, refer to the reconciliation titled "Reconciliation of Non-GAAP Financial Measure."
| | |
For more information, contact: |
Investor Relations: John Nesbett/Jennifer Belodeau IMS Investor Relations Phone: (203) 972-9200 Email: xpel@imsinvestorrelations.com |
XPEL, Inc.
Consolidated Statements of Income (Unaudited)
(In thousands except per share data)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended June 30, | | Six Months Ended June 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 | |
XPEL, Inc.
Consolidated Balance Sheets
(In thousands except share and per share data)
| | | | | | | | | | | |
| (Unaudited) | | (Audited) |
| June 30, 2024 | | December 31, 2023 |
Assets | | | |
Current | | | |
Cash and cash equivalents | $ | 14,984 | | | $ | 11,609 | |
Accounts receivable, net | 29,466 | | | 24,111 | |
Inventory, net | 97,591 | | | 106,509 | |
Prepaid expenses and other current assets | 4,641 | | | 3,529 | |
Income tax receivable | 1,224 | | | 696 | |
Total current assets | 147,906 | | | 146,454 | |
Property and equipment, net | 17,998 | | | 16,980 | |
Right-of-use lease assets | 18,464 | | | 15,459 | |
Intangible assets, net | 33,241 | | | 34,905 | |
Other non-current assets | 1,127 | | | 782 | |
Goodwill | 43,094 | | | 37,461 | |
Total assets | $ | 261,830 | | | $ | 252,041 | |
Liabilities | | | |
Current | | | |
Current portion of notes payable | $ | 64 | | | $ | 62 | |
Current portion lease liabilities | 4,723 | | | 3,966 | |
Accounts payable and accrued liabilities | 26,244 | | | 32,444 | |
Total current liabilities | 31,031 | | | 36,472 | |
Deferred tax liability, net | 1,742 | | | 2,658 | |
Other long-term liabilities | 515 | | | 890 | |
Borrowings on line of credit | 11,000 | | | 19,000 | |
Non-current portion of lease liabilities | 15,359 | | | 12,715 | |
Non-current portion of notes payable | 272 | | | 317 | |
Total liabilities | 59,919 | | | 72,052 | |
Commitments and Contingencies (Note 11) | | | |
Stockholders’ equity | | | |
Preferred stock, $0.001 par value; authorized 10,000,000; none issued and outstanding | — | | | — | |
Common stock, $0.001 par value; 100,000,000 shares authorized; 27,638,219 and 27,630,025 issued and outstanding, respectively | 28 | | | 28 | |
Additional paid-in-capital | 13,926 | | | 12,546 | |
Accumulated other comprehensive loss | (2,366) | | | (1,209) | |
Retained earnings | 190,323 | | | 168,624 | |
Total stockholders’ equity | 201,911 | | | 179,989 | |
Total liabilities and stockholders’ equity | $ | 261,830 | | | $ | 252,041 | |
XPEL, Inc.
Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended June 30, | | Six Months Ended June 30, |
| 2024 | | 2023 | | 2024 | | 2023 |
Cash flows from operating activities | | | | | | | |
Net income | $ | 15,033 | | | $ | 15,741 | | | $ | 21,699 | | | $ | 27,174 | |
Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | |
Depreciation of property, plant and equipment | 1,471 | | | 1,058 | | | 2,804 | | | 2,030 | |
Amortization of intangible assets | 1,442 | | | 1,211 | | | 2,852 | | | 2,372 | |
Gain on sale of property and equipment | (10) | | | (1) | | | (28) | | | (10) | |
Stock compensation | 837 | | | 355 | | | 1,467 | | | 657 | |
Provision for credit losses | 100 | | | 82 | | | 189 | | | 156 | |
Deferred income tax | (705) | | | (479) | | | (862) | | | (594) | |
| | | | | | | |
Changes in assets and liabilities: | | | | | | | |
Accounts receivable, net | (991) | | | (2,415) | | | (5,754) | | | (9,021) | |
Inventory, net | 12,644 | | | 2,304 | | | 8,766 | | | (1,583) | |
Prepaid expenses and other current assets | 1,016 | | | 1,537 | | | (1,309) | | | (975) | |
Income taxes receivable and payable | (1,491) | | | (2,496) | | | (587) | | | (136) | |
Accounts payable and accrued liabilities | (2,450) | | | 9,783 | | | (7,299) | | | 7,303 | |
Net cash provided by operating activities | 26,896 | | | 26,680 | | | 21,938 | | | 27,373 | |
Cash flows used in investing activities | | | | | | | |
Purchase of property, plant and equipment | (1,811) | | | (1,251) | | | (3,828) | | | (3,306) | |
Proceeds from sale of property and equipment | — | | | 12 | | | — | | | 24 | |
Acquisition of a businesses, net of cash acquired | (5,171) | | | (4,457) | | | (5,928) | | | (4,457) | |
Development of intangible assets | (501) | | | (196) | | | (841) | | | (517) | |
Net cash used in investing activities | (7,483) | | | (5,892) | | | (10,597) | | | (8,256) | |
Cash flows from financing activities | | | | | | | |
Net payments on revolving line of credit | (13,000) | | | (15,000) | | | (8,000) | | | (13,000) | |
RSUs withheld in lieu of payroll taxes | (87) | | | (29) | | | (87) | | | (28) | |
Repayments of notes payable - acquisitions | (16) | | | — | | | (31) | | | (77) | |
Net cash used by financing activities | (13,103) | | | (15,029) | | | (8,118) | | | (13,105) | |
Net change in cash and cash equivalents | 6,310 | | | 5,759 | | | 3,223 | | | 6,012 | |
Foreign exchange impact on cash and cash equivalents | 60 | | | 210 | | | 152 | | | 230 | |
Increase in cash and cash equivalents during the period | 6,370 | | | 5,969 | | | 3,375 | | | 6,242 | |
Cash and cash equivalents at beginning of period | 8,614 | | | 8,329 | | | 11,609 | | | 8,056 | |
Cash and cash equivalents at end of period | $ | 14,984 | | | $ | 14,298 | | | $ | 14,984 | | | $ | 14,298 | |
| | | | | | | |
Supplemental schedule of non-cash activities | | | | | | | |
Non-cash lease financing | $ | 4,086 | | | $ | 573 | | | $ | 5,038 | | | $ | 1,810 | |
Issuance of common stock for vested restricted stock units | 405 | | | 134 | | | 462 | | | 134 | |
Supplemental cash flow information | | | | | | | |
Cash paid for income taxes | $ | 5,646 | | | $ | 7,062 | | | $ | 6,798 | | | $ | 7,810 | |
Cash paid for interest | $ | 414 | | | $ | 372 | | | $ | 844 | | | $ | 889 | |
Reconciliation of Non-GAAP Financial Measure
EBITDA is a non-GAAP financial measure. EBITDA is defined as net income (loss) plus interest expense, net, plus income tax expense plus depreciation expense and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. It is not a measurement of our financial performance under GAAP and should not be considered as alternatives to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly titled measures of other businesses. EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our operating results as reported under GAAP.
EBITDA does not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of ongoing operations and other companies in our industry may calculate EBITDA differently than we do, limiting its usefulness as a comparative measure.
EBITDA Reconciliation (in thousands)
| | | | | | | | | | | | | | | | | | | | | | | |
| (Unaudited) | | (Unaudited) |
| Three Months Ended June 30, | | Six Months Ended June 30, |
| 2024 | | 2023 | | 2024 | | 2023 |
Net Income | $ | 15,033 | | | $ | 15,741 | | | $ | 21,699 | | | $ | 27,174 | |
Interest | 392 | | | 338 | | | 865 | | | 860 | |
Taxes | 3,486 | | | 4,080 | | | 5,303 | | | 7,064 | |
Depreciation | 1,471 | | | 1,058 | | | 2,804 | | | 2,030 | |
Amortization | 1,442 | | | 1,211 | | | 2,852 | | | 2,372 | |
EBITDA | $ | 21,824 | | | $ | 22,428 | | | $ | 33,523 | | | $ | 39,500 | |
v3.24.2.u1
Cover
|
Aug. 08, 2024 |
Cover [Abstract] |
|
Document Type |
8-K
|
Document Period End Date |
Aug. 08, 2024
|
Entity Registrant Name |
XPEL, INC.
|
Amendment Flag |
false
|
Entity Central Index Key |
0001767258
|
Soliciting Material |
false
|
City Area Code |
(210)
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common Stock, par value $0.001 per share
|
Trading Symbol |
XPEL
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
false
|
Written Communications |
false
|
Local Phone Number |
678-3700
|
Entity Incorporation, State or Country Code |
NV
|
Entity File Number |
001-38858
|
Entity Tax Identification Number |
20-1117381
|
Entity Address, Postal Zip Code |
78215
|
Entity Address, Address Line One |
711 Broadway, Suite 320
|
Entity Address, State or Province |
TX
|
Entity Address, City or Town |
San Antonio
|
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14a -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Grafico Azioni XPEL (NASDAQ:XPEL)
Storico
Da Lug 2024 a Ago 2024
Grafico Azioni XPEL (NASDAQ:XPEL)
Storico
Da Ago 2023 a Ago 2024