Record Revenue Growth
XPEL reported a record quarter in Q2 with revenue growing 13.5% to $124.7 million, which exceeded expectations.
Strong U.S. and Canada Performance
U.S. region grew 8.4% to $70.4 million for the quarter, setting a new record. Canada region revenue grew 7.4% for the quarter, hitting internal budget targets for July.
Gross Margin Improvement
Gross margin for the quarter came in at 42.9%, up 6 basis points sequentially, with the expectation to trend upward going forward.
EBITDA and Cash Flow Strength
EBITDA grew 14.7% to $25 million. Generated nearly $28 million in operating cash flow, ending the quarter with approximately $50 million in net cash.
Successful Product Lines
Total window film product line grew 27% in the quarter, with automotive window tint growing 22.5% and the new Windshield Protect product contributing.
Personalization Platform Momentum
Personalization platform volume continues to grow substantially, enhancing consumer satisfaction and driving product attachment.