Revenue Growth Excluding China
XPEL achieved a solid fourth quarter with revenue excluding China growing at 10.5%, indicating strong performance in other regions despite challenges in the Chinese market.
Gross Margin Improvement
The gross margin for the year improved to 42.2%, a 120 basis point increase over 2023, showing effective cost management and operational efficiency.
Strong Window Film Product Line Growth
Total window film product line grew 32.9% in the quarter, driven by automotive growth of 31.7% to $14.3 million, with significant contributions from the partnership with Tint World.
Successful Launch of Windshield Protection Film
The new windshield protection film launched during Q4 and generated $1.5 million in revenue in just one month, indicating strong market reception.
Dealer Conference Record Attendance
The dealer conference saw over 700 attendees from 38 countries, marking an all-time record and demonstrating strong engagement and interest from partners.