XPEL reports record Q4 revenue of $70.1M (+44.3% YoY); full-year revenue $259.3M (+63.1%)

XPEL, Inc.

2021-FY EPS reported $1.14 revenue$259,263,077

Full-year net income $31.6M ($1.14/sh) vs $18.3M ($0.66/sh) in 2020; EBITDA grew 74.5% to $44.1M.
Organic revenue growth of 27.0% in Q4 and 52.9% for full year 2021.
Q4 EBITDA $10.0M (14.2% of revenue) down from 16.6% in Q4 2020; adjusted for $1.8M labor costs and $0.8M inventory move costs, EBITDA would have been $12.6M (18% of revenue).
Gross margin improved to 35.2% in Q4 vs 32.8% in prior year quarter; full year 35.7% vs 34.0%.
Closed and integrated seven acquisitions during the year; expects benefit from rebuild of new car inventory in 2022.

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