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XPEL, Inc. [XPEL] reports annual net loss of $52,800.0
By USInMinutes - Feb 29, 2024, 05:46 AM ET
Last Updated - Feb 29, 2024, 05:46 AM EST
![XPEL, Inc. [XPEL] reports annual net loss of $52,800.0](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FXPEL.png&w=3840&q=75)
Company Reports Revenue of $396.3 thousand
XPEL, Inc. [XPEL] has reported a net loss of $52,800.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $396.3 thousand
Based in SAN ANTONIO, Texas, XPEL, Inc. operates in the MANUFACTURING sector.
The consolidated income statement for the company for the 12 months ended December 31, 2023, shows a significant increase in total revenue compared to the previous year. The total revenue for the current period stands at $396.29 million, up from $323.99 million in the same period in 2022 and $259.26 million in 2021.
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The cost of sales also increased in line with the higher revenue figures. The total cost of sales for the current period totaled $233.88 million, compared to $196.48 million in 2022 and $166.59 million in 2021. This resulted in a gross margin of $162.41 million for 2023, showing an upward trend from the previous years.
Operating income also saw a growth trajectory, with operating income for the current period reaching $66.97 million, up from $53.94 million in 2022 and $40.12 million in 2021.
Net income for the company showed a similar positive trend, with a net income of $52.80 million in 2023, compared to $41.38 million in 2022 and $31.57 million in 2021.
Earnings per share (EPS) for both basic and diluted calculations also displayed growth. The basic EPS for the current period was $1.91, compared to $1.50 in 2022 and $1.14 in 2021. Similarly, the diluted EPS for 2023 was $1.91, up from $1.50 in 2022 and $1.14 in 2021.
In summary, the company experienced strong financial performance in 2023, with significant increases in revenue, operating income, net income, and earnings per share compared to the previous years.
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