XPEL reports record Q1 revenue of $71.9M, up 38.6% YoY; net income grows 14%

XPEL, Inc.

2022-Q1 EPS reported $0.28 revenue$71,863,767

Revenue of $71.9M (record) vs $51.9M in Q1 2021, up 38.6%.
Gross margin improved to 38.6% from 35.3%, a new company high.
Net income $7.8M ($0.28 per share) vs $6.8M ($0.25) in prior year.
EBITDA grew 29.6% to $11.9M; adjusting for dealer conference, EBITDA would have been $12.7M.
CEO cites strong retail demand despite new car inventory constraints and China COVID lockdowns.

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