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XPEL XPEL Inc - Reg S

XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films, and ceramic coatings. With a global footprint, a network of trained installers and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support and world-class training.

Company profile

Ticker
XPEL
Exchange
Website
CEO
Ryan Lewis Pape
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
XPEL Inc. • XPEL Ltd. • ArmourfendCAD, LLC. • XPEL Canada Corp. • XPEL B.V. • XPEL Germany GmbH • XPEL de Mexico • XPEL Acquisition Corp. • Protex Canada Inc. • Apogee Corp. ...
IRS number
201117381

XPEL stock data

(
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Calendar

9 Nov 21
25 Jan 22
31 Dec 22
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 7.82M 7.82M 7.82M 7.82M 7.82M 7.82M
Cash burn (monthly) 305.86K 1.62M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 1.18M 6.23M n/a n/a n/a n/a
Cash remaining 6.64M 1.58M n/a n/a n/a n/a
Runway (months of cash) 21.7 1.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 64.26 9,600 616.9K 1,189,906
10 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 64.26 9,600 616.9K 1,439,793
7 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 66.7 9,500 633.65K 1,199,506
7 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 66.7 9,500 633.65K 1,449,393
6 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 67.57 9,600 648.67K 1,209,006
6 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 67.57 9,600 648.67K 1,458,893
5 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 67.38 9,800 660.32K 1,218,606
5 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 67.38 9,800 660.32K 1,468,493
4 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 69.73 9,000 627.57K 1,228,406
4 Jan 22 Crumly Richard K. Common Stock Sell Dispose S Yes Yes 69.73 9,000 627.57K 1,478,293

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

39.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 155 153 +1.3%
Opened positions 24 42 -42.9%
Closed positions 22 10 +120.0%
Increased positions 55 54 +1.9%
Reduced positions 51 39 +30.8%
13F shares
Current Prev Q Change
Total value 834.46M 795.05M +5.0%
Total shares 11M 9.45M +16.4%
Total puts 118K 165.2K -28.6%
Total calls 443.7K 488K -9.1%
Total put/call ratio 0.3 0.3 -21.4%
Largest owners
Shares Value Change
Wasatch Advisors 1.96M $148.84M +85.1%
BLK Blackrock 1.27M $96.12M +11.3%
ATAC Neuberger Berman 1.2M $91.2M +15.4%
Vanguard 975.97K $74.04M +13.4%
Cowbird Capital 382.98K $29.05M +9.6%
STT State Street 331.47K $25.15M +1.5%
Driehaus Capital Management 308.91K $23.43M -27.2%
AMP Ameriprise Financial 306.43K $23.25M +1175.5%
Geode Capital Management 298.65K $22.66M -0.4%
Kent Lake Capital 224.12K $17M -17.0%
Largest transactions
Shares Bought/sold Change
Wasatch Advisors 1.96M +901.94K +85.1%
AMP Ameriprise Financial 306.43K +282.41K +1175.5%
ATAC Neuberger Berman 1.2M +160.14K +15.4%
BLK Blackrock 1.27M +128.21K +11.3%
Vanguard 975.97K +115.66K +13.4%
Driehaus Capital Management 308.91K -115.28K -27.2%
Nuveen Asset Management 200.98K +100.78K +100.6%
FHI Federated Hermes 28.49K -100.72K -77.9%
Bluegrass Capital Partners 0 -100K EXIT
Dimensional Fund Advisors 66.08K +66.08K NEW

Financial report summary

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Competition
Eastman Chemical
Risks
  • A material disruption from the primary supplier could cause us to be unable to meet customer demands or increase our costs.
  • We rely on one distributor of our products and services in China. The loss of this relationship, or a material disruption in sales by this distributor, could severely harm our business.
  • A significant percentage of our revenue is generated from our business in China, a market that is associated with certain risks.
  • The loss of one or more of our key personnel, or our failure to attract and retain other highly qualified personnel in the future, could harm our business.
  • The preparation of our financial statements will involve the use of estimates, judgments and assumptions, and our financial statements may be materially affected if such estimates, judgments and assumptions prove to be inaccurate.
  • If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, stockholders could lose confidence in our financial and other public reporting, which would likely negatively affect our business and the market price of our Common Stock.
  • The after-market automotive product supply business is highly competitive. Competition presents an ongoing threat to the success of our Company.
  • We are highly dependent on the automotive industry. A prolonged or material contraction in automotive sales and production volumes could adversely affect our business, results of operations and financial condition.
  • Harm to our reputation or the reputation of one or more of our products could have an adverse effect on our business.
  • Our revenue and operating results may fluctuate, which may make our results difficult to predict and could cause our results to fall short of expectations.
  • If the model of selling vehicles through dealerships in North America changes dramatically, our revenue could be impacted.
  • If ride-sharing or alternate forms of vehicle ownership gain in popularity, our revenue could be impacted.
  • Environmental regulation, changing fuel-economy standards and/or the drive toward electric vehicles could impact our revenue.
  • Technology could render the need for some of our products obsolete.
  • If changes to our existing products or introduction of new products or services do not meet our customers’ expectations or fail to generate revenue, we could lose our customers or fail to generate any revenue from such products or services and our business may be harmed.
  • We depend on our relationships with independent installers and new car dealerships and their ability to sell and service our products. Any disruption in these relationships could harm our sales.
  • We may not be able to identify, finance and complete suitable acquisitions and investments, and any completed acquisitions and investments could be unsuccessful or consume significant resources.
  • If we are unable to maintain our network of sales and distribution channels, it could adversely affect our net sales, profitability and the implementation of our growth strategy.
  • If we are unable to retain and acquire new customers, our financial performance may be materially and adversely affected.
  • We are exposed to political, regulatory, economic and other risks that arise from operating a multinational business.
  • Volatility in currency exchange rates could have a material adverse effect on our financial condition, results of operations and cash flows.
  • If we fail to manage our growth effectively, our business, financial condition and results of operations may suffer.
  • The Company may incur material losses and costs as a result of product liability and warranty claims.
  • We are an “emerging growth company,” and we cannot be certain if the reduced SEC reporting requirements applicable to emerging growth companies will make our Common Stock less attractive to investors.
  • Violations of the U.S. Foreign Corrupt Practices Act and similar anti-corruption laws outside the U.S. could have a material adverse effect on us.
  • Our failure to satisfy international trade compliance regulations, and changes in U.S. government sanctions, could have a material adverse effect on us.
  • Changes in U.S. administrative policy, including changes to existing trade agreements and any resulting changes in international relations, could adversely affect our financial performance.
  • Changes in the United Kingdom's economic and other relationships with the European Union could adversely affect us.
  • Intellectual property challenges may hinder our ability to develop and market our products, and we may incur significant costs in our efforts to successfully avoid, manage, defend and litigate intellectual property matters.
  • We may face design limitations or liability associated with the use of products for which patent ownership or other intellectual property rights are claimed.
  • Failure, inadequacy, or breach of our information technology systems, infrastructure, and business information or violations of data protection laws could result in material harm to our business and reputation.
  • We may seek to incur substantial indebtedness in the future.
  • We cannot be certain that additional financing will be available on reasonable terms when required, or at all.
  • If research analysts issue unfavorable commentary or downgrade our Common Stock, the price of our Common Stock and their trading volume could decline.
  • Our stock price has been, and may continue to be, volatile.
  • We may issue additional equity securities, or engage in other transactions that could dilute our book value or affect the priority of our Common Stock, which may adversely affect the market price of our Common Stock.
  • We may issue shares of preferred stock with greater rights than our Common Stock.
  • We have not paid any cash dividends in the past and have no plans to issue cash dividends in the future, which could cause our Common Stock to have a lower value than that of similar companies which do pay cash dividends.
  • Shares eligible for future sale may depress our stock price.
  • Percentage of ownership in our Common Stock may be diluted in the future.
  • Anti-takeover provisions could make a third party acquisition of us difficult.
  • Our directors and officers have substantial control over us.
  • Our bylaws provide that the state and federal courts located in Bexar County, Texas will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • The COVID-19 pandemic could materially adversely affect our financial condition and results of operations.
  • General global economic and business conditions affect demand for our products.
Management Discussion
  • Product Revenue. Product revenue for the three months ended September 30, 2021 increased 44.2% over the three months ended September 30, 2020. Product revenue represented 83.2% of our total revenue compared to 85.7% in the three months ended September 30, 2019. Within product revenue, revenue from our paint protection film product line increased 35.2% over the three months ended September 30, 2020. Paint protection film sales represented 63.1% and 69.3% of our total consolidated revenues for the three months ended September 30, 2021 and 2020, respectively. The increase in paint protection film sales was primarily attributable to continued strong demand for our film products in all of our operating regions. Revenue from our window film product line grew 80.9% for the three months ended September 30, 2021. Window film sales represented 16.6% and 13.7% of our total consolidated revenues for the three months ended September 30, 2021 and 2020, respectively. Growth in this product line was due primarily to increased demand in most operating regions stemming from strong channel execution and increased product adoption.
Content analysis
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