XPEL, Inc.

Annual Trend FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash and cash equivalents $4.0m $11.5m $29.0m $9.6m $8.1m $11.6m $22.1m $50.9m
Accounts receivable, net $5.6m $7.2m $9.9m $13.2m $14.7m $24.1m $29.1m $49.8m
Inventory, net $10.8m $15.1m $22.4m $51.9m $80.6m $106.5m $110.9m $122.8m
Prepaid expenses and other current assets $707k $2.4m $1.4m $3.7m $3.5m $3.5m $5.3m $6.7m
Income tax receivable $0 $93k $0 $617k $0 $696k $893k $581k
Total current assets $21.0m $36.3m $62.8m $79.0m $106.8m $146.5m $168.3m $230.7m
Property and equipment, net $3.4m $4.0m $4.7m $9.9m $14.2m $17.0m $17.7m $15.8m
Intangible assets, net $3.8m $3.8m $5.4m $32.7m $29.3m $34.9m $34.6m $49.6m
Goodwill $2.3m $2.4m $4.5m $25.7m $26.8m $37.5m $44.1m $59.3m
Right-of-use lease assets $5.1m $6.0m $12.9m $15.3m $15.5m $19.5m $21.6m
Stockholders’ equity
Other non-current assets $0 $486k $790k $972k $782k $1.4m $5.6m
Current portion of notes payable $853k $462k $2.6m $375k $77k $62k $63k $59k
Current portion of lease liabilities $1.1m $1.7m $3.0m $3.9m $4.0m $4.7m $6.1m
Other short-term liabilities $651k $10.6m
Non-current portion of lease liabilities $4.0m $4.3m $9.8m $12.1m $12.7m $16.1m $16.7m
Non-current portion of notes payable $968k $307k $3.6m $76k $0 $317k $229k $0
Non-controlling interest ($190k) ($169k) $0 $0 $4.9m
Total stockholders’ equity $20.6m $34.9m $53.4m $84.5m $124.7m $180.0m $225.5m $285.2m
Total assets $30.5m $51.6m $83.8m $161.0m $193.4m $252.0m $285.6m $382.5m
Total liabilities and stockholders’ equity $30.5m $51.6m $83.8m $161.0m $193.4m $252.0m $285.6m $382.5m
Accounts payable and accrued liabilities $6.3m $10.2m $16.8m $32.9m $23.0m $32.4m $36.8m $54.3m
Total current liabilities $8.5m $11.8m $21.2m $36.3m $27.4m $36.5m $41.5m $71.0m
Deferred tax liability, net $479k $605k $628k $2.7m $2.0m $2.7m $469k $120k
Other long-term liabilities $0 $729k $2.6m $1.1m $890k $1.8m $9.5m
Total liabilities $9.9m $16.7m $30.5m $76.6m $68.6m $72.1m $60.2m $97.3m
Preferred stock, $0.001 par value; authorized 10,000,000; none issued and outstanding $0 $0 $0 $0 $0 $0 $0 $0
Common stock, $0.001 par value; 100,000,000 shares authorized; 27,682,807 and 27,651,773 issued, respectively $28k $28k $28k $28k $28k $28k $28k $28k
Additional paid-in-capital $11.3m $11.3m $10.4m $10.6m $11.1m $12.5m $15.6m $18.0m
Accumulated other comprehensive loss ($1.2m) ($909k) $66k ($590k) ($2.2m) ($1.2m) ($4.2m) ($135k)
Retained earnings $10.6m $24.6m $42.9m $74.4m $115.8m $168.6m $214.1m $265.3m
Treasury stock, 78,624 shares at cost $0 ($3.0m)