XPEL(XPEL) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenue increased by 15.2% to $103.8 million in Q1 2025 compared to $90.1 million in Q1 2024[3] - Net income rose by 28.8% to $8.6 million, or $0.31 per share, compared to $6.7 million, or $0.24 per share in the same quarter last year[4] - EBITDA increased by 23.2% to $14.4 million, representing 13.9% of total revenue, up from 13.0% in Q1 2024[4] - Gross margin improved to 42.3% in Q1 2025 from 42.0% in Q1 2024[9] - Total product revenue increased by 17.7% year-over-year, representing 75.8% of total revenue[9] Revenue Sources - Revenue from the United States grew by 11.6% year-over-year, contributing 56.0% of total revenue[5] - Revenue from China surged by 459.1% year-over-year, accounting for 7.8% of total revenue[5] Future Projections - The company expects Q2 2025 revenue to be approximately $117 - $119 million[7] Expenses and Investments - Operating expenses increased by 14.4% year-over-year, totaling $32.8 million[3] - The company invested $1,003 million in property, plant, and equipment during the first quarter of 2025, down from $2,017 million in the same period last year[23] Assets and Liabilities - Total assets increased to $294,822 million as of March 31, 2025, up from $285,607 million at December 31, 2024, representing a growth of 3.8%[21] - Total current assets increased to $178,299 million, up from $168,344 million, indicating a growth of 5.7%[21] - Total liabilities decreased slightly to $59,368 million from $60,152 million, a reduction of 1.3%[21] Cash Flow and Retained Earnings - Cash and cash equivalents at the end of the period rose to $23,541 million, compared to $8,614 million at the end of the same period last year, marking an increase of 173.5%[23] - Retained earnings increased to $222,699 million as of March 31, 2025, compared to $214,113 million at the end of 2024, showing a growth of 4.0%[21] - The company reported a net cash provided by operating activities of $3,228 million for the first quarter of 2025, compared to a net cash used of $4,959 million in the same quarter of 2024[23] Stock Repurchase Program - The company announced a $50 million stock repurchase program, subject to market conditions[2] Accounts Receivable - The company’s accounts receivable increased to $33,359 million as of March 31, 2025, compared to $29,146 million at December 31, 2024, representing a rise of 14.5%[21]