XPEL Q2 revenue hits record $102.2M, up 21.9%; EPS $0.57 vs $0.43 YoY

XPEL, Inc.

2023-Q2 EPS reported $0.98 revenue$188,078,000

Revenue $102.2M (+21.9% YoY); gross margin 43.0% all-time high.
Net income $15.7M ($0.57/diluted share) vs $11.9M ($0.43) in Q2 2022.
EBITDA $22.4M (21.9% of revenue), up 30.5% from $17.2M.
First-half revenue $188.1M (+20.8%); net income $27.2M ($0.98/share).
CEO notes protective film demand expanding beyond enthusiast market to broader auto buyers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

XPEL, Inc. reported the six months ended June 30, 2023 results: revenue $188.1 million, net income $27.2 million, EPS $0.98 per basic and diluted share.

Period: the six months ended June 30, 2023
Revenue: $188.1 million
Net income: $27.2 million
EPS: $0.98 per basic and diluted share
Result: reported results

Exact text from the filing

For the Six Months Ended June 30, 2023: Revenues. Revenues increased approximately $32.3 million or 20.8% to $188.1 million as compared to $155.8 million in the first half of the prior year. Gross Margin. Gross margin was 42.5% compared to 39.0% in the first half of 2022. Expenses. Operating expenses increased to $44.8 million, or 23.8% of sales, compared to $34.9 million, or 22.4% of sales in the prior year period. Net income. Net income was $27.2 million, or $0.98 per basic and diluted share, versus net income of $19.7 million, or $0.71 per basic and diluted share in the first half of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

XPEL, Inc. reported the quarter ended June 30, 2023 results: revenue $102.2 million, net income $15.7 million, EPS $0.57 per basic and diluted share.

Period: the quarter ended June 30, 2023
Revenue: $102.2 million
Net income: $15.7 million
EPS: $0.57 per basic and diluted share
Result: reported results

Exact text from the filing

For the Quarter Ended June 30, 2023: Revenues. Revenues increased approximately $18.3 million or 21.9% to $102.2 million as compared to $83.9 million in the second quarter of the prior year. Gross Margin. Gross margin was 43.0% compared to 39.3% in the second quarter of 2022. Expenses. Operating expenses increased to $23.8 million, or 23.3% of sales, compared to $17.2 million, or 20.5% of sales in the prior year period. Net income. Net income was $15.7 million, or $0.57 per basic and diluted share, versus net income of $11.9 million, or $0.43 per basic and diluted share in the second quarter of 2022.

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Source: SEC EDGAR

accession 0001767258-23-000052

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