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In a July 6, 2026, SEC filing, Pacific Excel Wealth Advisors, Inc. reported a new position in XPEL (XPEL 10.67%) with an estimated $3.7 million trade based on quarterly average pricing.

What happenedAccording to an SEC filing dated July 6, 2026, Pacific Excel Wealth Advisors, Inc. initiated the stake in XPEL during the prior quarter. The move established the San Antonio-based protective film manufacturer as a significant holding within the firm's portfolio. The position ended the quarter with a valuation of $4.1 million. The firm's total reportable 13F assets were $258.4 million across 228 positions.

What else to knowXPEL was a new position for the firm, representing 1.6% of reportable 13F assets.

Top holdings as of the filing:Vanguard FTSE Developed Markets ETF (VEA 0.62%): $12.0 million (4.7% of AUM)Avantis International Equity ETF (AVDE 0.71%): $11.8 million (4.6% of AUM)Avantis Emerging Markets Equity ETF (AVEM +0.70%): $9.8 million (3.8% of AUM)iShares Russell 2500 ETF (SMMD 1.08%): $8.2 million (3.2% of AUM)State Street SPDR Portfolio Emerging Markets ETF (SPEM +0.55%): $7.9 million (3.1% of AUM)Based on market data, XPEL outperformed the S&P 500 by 7.2 percentage points over the past year.

Company OverviewMetricValueShare Price (as of market close 2026-07-06)$50.05Market Capitalization$1.34 billion52-Week Price Change27.2%Dividend Yield0.0%Company SnapshotXPEL develops, manufactures, and distributes a comprehensive portfolio of aftermarket automotive protection products, including paint protection films, headlight protection solutions, window films, ceramic coatings, and professional installation tools and accessories, complemented by proprietary software solutions and direct-to-consumer e-commerce offerings.The company generates revenue through a diversified distribution model encompassing independent installers, new-car dealerships, third-party distributors, company-owned installation centers, franchisees, and direct online sales channels, creating multiple revenue streams from product sales and installation services.XPEL’s customer base spans independent automotive service providers, new-vehicle dealerships, professional installers, and end consumers, with a geographic reach across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.XPEL is a leading global provider of automotive protective solutions with a market capitalization of $1.34 billion and operations spanning eight major geographic markets since its establishment in 1997. The company leverages a vertically integrated business model combining manufacturing, distribution, and proprietary software capabilities to serve the growing aftermarket automotive protection segment. With 1,143 employees and headquarters in San Antonio, Texas, XPEL maintains competitive advantages through proprietary product formulations, an extensive installation network, and direct consumer engagement via digital channels.

Should investors buy XPEL too?While I don’t think investors should focus on mirroring Pacific Excel Wealth Advisors’ portfolio moves, given the fund’s typically short holding period, the fund’s purchase of XPEL is interesting. XPEL stock has declined over 50% in the last five years -- but nothing has really “broken" within the company’s operations.

Rather, XPEL is a perfect example of a growth stock whose valuation became too stretched, only for sales growth to slow, prompting a sharp pullback in its share price. However, now trading at just 23 times earnings and with an EV-to-EBITDA ratio of 17, XPEL is again reasonably valued. Five years ago, XPEL was trading at above 100 times earnings and 75 times EBITDA, just for some perspective.

Although XPEL isn’t growing sales by 60% as it did in 2019 and 2021, it grew revenue and EBITDA by 13% and 17%, respectively, in its latest quarter. This steady growth, paired with XPEL’s debt-free balance sheet and leadership in its aftermarket protective niche, makes it an intriguing stock to watch going forward. That said, I would love to see XPEL gain some traction expanding beyond just the automotive market -- especially as some OEMs have started offering their own protection in some cases -- before I would consider buying it for the long term.

Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard FTSE Developed Markets ETF. The Motley Fool recommends Xpel. The Motley Fool has a disclosure policy.

XPEL gained direct control of China operations, unlocking a major growth catalyst in the large automotive market. China revenue surged 65.3% post-acquisition, now representing 8.4% of total revenue, with further upside potential as market penetration deepens. XPEL's 13.3% FY 2025 revenue growth outpaces the 5–7% industry CAGR, highlighting competitive strength and accelerating momentum.

SAN ANTONIO--(BUSINESS WIRE)--XPEL, Inc. (Nasdaq: XPEL) a global provider of protective films and coatings, today announced it will host a conference call and webcast on Wednesday, May 6, 2026 at 11:00 a.m. Eastern Time to discuss the Company’s first quarter 2026 results.

To access the live webcast, please visit the XPEL, Inc. website at https://investor.xpel.com/events-and-presentations.

To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 801750.

A replay of the teleconference will be available until June 6, 2026 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 53842.

About XPEL, Inc.

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. XPEL, Inc. is publicly traded on Nasdaq under the symbol “XPEL”.

Safe harbor statement

This release includes forward-looking statements regarding XPEL, Inc. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, and execution of the company's growth strategy. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "is expected," "expects," "scheduled," "intends," "contemplates," "anticipates," "believes," "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of XPEL. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, performance and acceptance of the company's products, economic factors, competition, the equity markets generally and many other factors beyond the control of XPEL. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

More News From XPEL, Inc.

SAN ANTONIO--(BUSINESS WIRE)--XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of protective films and coatings, announced consolidated results1 for the first quarter ended March 31, 2026.

First Quarter 2026 Overview:

Revenue increased 13.1% to $117.4 million in the first quarter of 2026 compared to $103.8 million in the first quarter of 2025. Gross margin of 43.7% in the first quarter of 2026 compared to 42.3% in the first quarter last year. Net income attributable to stockholders of the company increased 20.5% to $10.3 million, or $0.37 per basic and $0.37 per diluted share, respectively, versus net income attributable to stockholders of the company of $8.6 million, or $0.31 per basic and diluted share in the first quarter of 2025. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased 17.8% to $17.0 million, or 14.5% of revenue, compared to $14.4 million, or 13.9% of revenue in the first quarter of 2025. Ryan Pape, President and Chief Executive Officer of XPEL, commented, "We delivered solid top and bottom line performance in the first quarter and we are off to a good start for the year. As we continue through 2026, we remain focused on executing on our strategic initiatives and continuing to drive operating leverage."

Financial Highlights for the First Quarter 2026:

Summary consolidated financial information for the first quarter ended March 31, 2026 and 2025 (unaudited, dollars in thousands):

Three Months Ended March 31,

% Change

2026

%
of Total
Revenue

2025

%
of Total
Revenue

2026 vs.
2025

Total revenue

$

117,354

100.0

%

$

103,805

100.0

%

13.1

%

Gross margin

51,230

43.7

%

43,896

42.3

%

16.7

%

Operating Expenses

38,219

32.6

%

32,776

31.6

%

16.6

%

Net income attributable to stockholders of the Company

10,345

8.8

%

8,586

8.3

%

20.5

%

EBITDA2

16,973

14.5

%

14,411

13.9

%

17.8

%

Net cash provided by operating activities

$

7,379

6.3

%

$

3,228

3.1

%

128.6

%

Geographical Revenue Summary

  Three Months Ended

March 31,

% Change

% of Total
Revenue

2026

2025

Inc (Dec)

2026

2025

United States

$

63,842

$

58,073

9.9

%

54.4

%

56.0

%

Canada

8,400

9,426

(10.9

)%

7.2

%

9.1

%

North America

72,242

67,499

7.0

%

61.6

%

65.1

%

China

11,709

8,107

44.4

%

10.0

%

7.8

%

Asia Other

5,693

4,550

25.1

%

4.8

%

4.3

%

Asia Pacific

17,402

12,657

37.5

%

14.8

%

12.1

%

EU, UK, and Africa

17,857

15,010

19.0

%

15.2

%

14.4

%

India and Middle East

6,767

6,077

11.4

%

5.8

%

5.9

%

Latin America

3,086

2,562

20.5

%

2.6

%

2.5

%

Total

$

117,354

$

103,805

13.1

%

100.0

%

100.0

%

Overall Revenue

Total revenue grew 13.1% compared to first quarter 2025 ("YoY"). US revenue increased 9.9%YoY. Product and Service Revenue

Adjusted product revenue (combining cutbank credits revenue and product revenue) increased 10.2% YoY. Total window film revenue increased 24.8% YoY and represented 19.8% of total revenue. Total service revenue increased 14.1% YoY. Total installation revenue (labor and product combined) grew 24.3% YoY. Other Financial Information

Gross margin was 43.7% and 42.3% in the first quarter of 2026 and 2025, respectively. Total operating expenses increased 16.6% YoY. Sales and marketing expenses increased 27.7% YoY and represented 12.9% of revenue. General and administrative expenses increased 10.3% YoY and represented 19.6% of revenue. Cash Flows from Operations

Cash flows provided by operations were $7.4 million in the first quarter 2026 compared to $3.2 million in the first quarter of 2025. 2026 Second Quarter Outlook

The Company expects second quarter 2026 revenue of approximately $135 - $137 million. Please see the information under "Forward-looking Statements" below regarding certain cautionary statements relating to our 2026 Second Quarter Outlook.

Conference Call Information

The Company will host a conference call and webcast today, May 6, 2026 at 11:00 a.m. Eastern Time to discuss the Company’s first quarter 2026 results.

To access the live webcast, please visit the XPEL, Inc. website at www.xpel.com/events-presentations.

To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 801750.

A replay of the teleconference will be available until June 6, 2026 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 53842.

About XPEL, Inc.

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. XPEL, Inc. is publicly traded on Nasdaq under the symbol “XPEL”.

Forward-looking Statements

This release includes forward-looking statements (within the meaning of Section 27A of the Securities act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding XPEL, Inc. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, execution of the company's growth strategy and outlook. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "is expected," "expects," "scheduled," "intends," "contemplates," "anticipates," "believes," "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and assumptions of the management of XPEL. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors relate to, among others: competition, a prolonged or material contraction in automotive sales and production volumes, disruption in our supply chain, technology that could render our products obsolete, changes in the way vehicles are sold, damage to our brand and reputation, cyber events and other legal and regulatory developments. There are several risks, uncertainties, and other important factors, many of which are beyond the Company’s control, that could cause its actual results to differ materially from the forward-looking statements contained in this press release, including those described in the “Risk Factors” section of Annual Report on Form 10-K. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measure

To aid in the understanding of XPEL's ongoing business performance, XPEL uses EBITDA, a non-GAAP financial measure. EBITDA is defined as net income (loss) plus interest expense, net, plus income tax expense plus depreciation and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. It is not a measurement of XPEL's financial performance under GAAP and should not be considered as an alternative to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly title measures. For a full reconciliation of EBITDA to comparable GAAP measure, refer to the reconciliation titled "Reconciliation of Non-GAAP Financial Measure."

XPEL, Inc.

Consolidated Statements of Income (Unaudited)

(In thousands except per share data)

  Three Months Ended March 31,

2026

2025

Revenue

Product revenue

$

88,714

$

78,712

Service revenue

28,640

25,093

Total revenue

117,354

103,805

Cost of Sales

Cost of product sales

52,365

48,439

Cost of service

13,759

11,470

Total cost of sales

66,124

59,909

Gross Margin

51,230

43,896

Operating Expenses

Sales and marketing

15,163

11,875

General and administrative

23,056

20,901

Total operating expenses

38,219

32,776

Operating Income

13,011

11,120

Interest expense

4

75

Foreign exchange gain

(280

)

(235

)

Income before income taxes

13,287

11,280

Income tax expense

2,782

2,694

Net Income

$

10,505

$

8,586

Net income attributed to non-controlling interest

160

—

Net income attributable to stockholders of the Company

$

10,345

$

8,586

Earnings per share attributable to stockholders of the Company

Basic

$

0.37

$

0.31

Diluted

$

0.37

$

0.31

Weighted Average Number of Common Shares Outstanding

Basic

27,589

27,655

Diluted

27,666

27,676

XPEL, Inc.

Consolidated Balance Sheets

(In thousands except share and per share data)

  (Unaudited)
March 31, 2026

(Audited)
December 31, 2025

Assets

Current

Cash and cash equivalents

$

45,106

$

50,864

Accounts receivable, net

53,515

49,846

Inventory

131,575

122,755

Prepaid expenses and other current assets

7,002

6,651

Income tax receivable

—

581

Total current assets

237,198

230,697

Property and equipment, net

24,102

15,797

Right-of-use lease assets

19,656

21,561

Intangible assets, net

48,446

49,620

Deferred tax asset, net

625

—

Other non-current assets

7,020

5,574

Goodwill

57,400

59,277

Total assets

$

394,447

$

382,526

Liabilities

Current

Current portion of notes payable

$

—

$

59

Current portion of lease liabilities

5,741

6,094

Accounts payable and accrued liabilities

61,365

54,289

Income tax payable

1,389

—

Other short-term liabilities

8,728

10,558

Total current liabilities

77,223

71,000

Deferred tax liability, net

—

120

Other long-term liabilities

9,553

9,511

Non-current portion of lease liabilities

15,081

16,710

Total liabilities

101,857

97,341

Stockholders’ equity

Preferred stock, $0.001 par value; authorized 10,000,000; none issued and outstanding

—

—

Capital stock, $0.001 par value; 100,000,000 shares authorized; 27,705,220 and 27,682,807, issued, respectively

28

28

Additional paid-in-capital

18,680

18,049

Accumulated other comprehensive loss

(944

)

(135

)

Retained earnings

275,685

265,339

Treasury stock, 147,645 and 78,624 shares at cost, respectively

(5,938

)

(2,999

)

Stockholders’ equity

287,511

280,282

Non-controlling interest

5,079

4,903

Total stockholders’ equity

292,590

285,185

Total liabilities and stockholders’ equity

$

394,447

$

382,526

XPEL, Inc.

Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

  Three Months Ended
March 31,

(Unaudited)

(Unaudited)

2026

2025

Cash flows from operating activities

Net income

$

10,505

$

8,586

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation of property, plant and equipment

1,623

1,535

Amortization of intangible assets

2,059

1,521

Gain on sale of property and equipment

(10

)

—

Stock compensation

934

679

Provision for credit losses

343

73

Deferred income tax

(442

)

(766

)

Changes in assets and liabilities:

Accounts receivable, net

(4,267

)

(3,915

)

Inventory

(8,959

)

(4,188

)

Prepaid expenses and other current assets

(1,492

)

(551

)

Income taxes receivable and payable

1,493

2,954

Accounts payable and accrued liabilities

5,592

(2,700

)

Net cash provided by operating activities

7,379

3,228

Cash flows used in investing activities

Purchases of property, plant and equipment

(9,715

)

(1,003

)

Proceeds from sale of property and equipment

40

2

Acquisition of businesses, net of cash acquired

—

(42

)

Development of intangible assets

(218

)

(513

)

Net cash used in investing activities

(9,893

)

(1,556

)

Cash flows from financing activities

Restricted stock withholding taxes paid in lieu of issued shares

(303

)

(93

)

Repayments of notes payable

(59

)

(77

)

Payments of deferred acquisition consideration

(270

)

—

Purchases of treasury shares

(2,939

)

—

Net cash used in financing activities

(3,571

)

(170

)

Net change in cash and cash equivalents

(6,085

)

1,502

Foreign exchange impact on cash and cash equivalents

327

(48

)

(Decrease) increase in cash and cash equivalents during the period

(5,758

)

1,454

Cash and cash equivalents at beginning of period

50,864

22,087

Cash and cash equivalents at end of period

$

45,106

$

23,541

Supplemental schedule of non-cash activities

Non-cash lease financing

$

158

$

832

Issuance of Common Stock for vested restricted stock units

$

1,227

$

190

Non-cash minority interest contribution

$

16

$

—

Supplemental cash flow information

Cash paid for income taxes

$

1,273

$

519

Cash paid for interest

$

—

$

89

Reconciliation of Non-GAAP Financial Measure

EBITDA is a non-GAAP financial measure. EBITDA is defined as net income (loss) plus interest expense, net, plus income tax expense plus depreciation expense and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. It is not a measurement of our financial performance under GAAP and should not be considered as alternatives to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly titled measures of other businesses. EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our operating results as reported under GAAP.

EBITDA does not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of ongoing operations and other companies in our industry may calculate EBITDA differently than we do, limiting its usefulness as a comparative measure.

EBITDA Reconciliation (in thousands)

  Three Months Ended March 31,

(Unaudited)

(Unaudited)

2026

2025

Net Income

$

10,505

$

8,586

Interest

4

75

Taxes

2,782

2,694

Depreciation

1,623

1,535

Amortization

2,059

1,521

EBITDA

$

16,973

$

14,411

More News From XPEL, Inc.

XPEL, Inc. (XPEL) Q1 2026 Earnings Call Transcript

SAN ANTONIO--(BUSINESS WIRE)--XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of protective films and coatings, today announced two significant milestones in the execution of the manufacturing and supply chain investment strategy first outlined in November 2025. The Company expects to invest approximately $110 million in aggregate across these initiatives, including real estate, capital expenditures, and the acquisition of a manufacturing facility in China. The total investment falls within the previously communicated $75 million to $150 million investment range.

Expansion of San Antonio Operations

The Company has purchased a four-building site totaling approximately 435,000 square feet in San Antonio, Texas, in which the Company is a substantial tenant. This site will serve as the centerpiece of the Company’s North American manufacturing and operations footprint. The Company believes that acquiring a facility in which the Company already operates materially reduces execution risk and timelines, allowing the Company to scale without disruption to ongoing operations while maximizing prior capital investments made into facility.

Over the next 12 to 24 months, the Company plans to consolidate a separate leased operations facility into this building. Overall, the Company will occupy approximately 230,000 square feet of the total site.

The remainder of the site is currently leased to third parties, which provides the Company with significant flexibility and optionality for further expansion as future needs evolve.

This investment is intended to complement, and not replace, the Company’s existing supplier relationships, which remain an important part of the overall supply chain strategy.

Ryan Pape, President and Chief Executive Officer of XPEL, commented, "San Antonio has been XPEL's home for more than two decades, and we're proud to make a long-term commitment of this scale to our employees and to the city. This site gives us the space to consolidate, the room to grow our in-house manufacturing capabilities, and the flexibility to adapt as our needs evolve. It's the right footprint for the next phase of the business."

Acquisition of Manufacturing Facility in China

Separately, XPEL has acquired a manufacturing facility in China. The facility will support the Company's customers in China—where XPEL has invested significantly in its direct go-to-market presence in recent years, including the previously announced acquisition of the Company's Chinese aftermarket distributor in September 2025.

Pape continued, "Acquiring manufacturing capacity in China is a natural extension of the direct-market strategy we've executed across our key international markets. Having local production positions us to better serve the largest car market in the world."

Funding

The Company expects to fund the initiative through a combination of cash on hand, cash flow from operations and new financing associated with the real estate purchase. Apart from the real estate financing, the Company expects to fund the majority of the remaining investment from operating cash flow over the next two years.

The Company believes this funding approach preserves meaningful cash flow and debt capacity to continue to pursue other strategic initiatives or return cash to shareholders.

Reaffirmation of 2028 Margin Targets

These investments are consistent with the financial framework the Company communicated in November 2025. The Company remains committed to its goal of operating margins in the mid-20% range on a run-rate basis by the end of 2028

Excluding one-time costs associated with these transactions, the Company anticipates minimal impact to 2026 EPS from these initiatives as the incremental expense associated with the increased occupancy costs and buildout progression of its operations is expected to be mostly offset by the benefits and synergies from the acquisition of the China manufacturing facility. The Company anticipates beginning to recognize incremental margin contribution from these initiatives beginning in mid-2027.

Pape added, "The investments we are making — in San Antonio, in China, and across our supply chain — are designed to improve our agility and quality while increasing the rate of innovation and responsiveness to the varied needs of our global customer base.”

About XPEL, Inc.

XPEL is a leading provider of protective films and coatings, including paint protection film, surface protection film, window films, and ceramic coatings in the automotive, architectural, and marine industries. 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. XPEL, Inc. is publicly traded on Nasdaq under the symbol "XPEL". For more information, please visit www.xpel.com or investor.xpel.com.

Forward-Looking Statements

This release includes forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding, among other things, the Company's plans, strategies and prospects, both business and financial, including, without limitation, statements regarding the expected timing, cost, scope and benefits of the Company's planned expansion of its San Antonio operations and the acquisition and integration of its manufacturing facility in China; expectations regarding the Company's manufacturing and supply chain investments; the Company's expected sources of funding for these initiatives, including cash on hand, cash flow from operations, and additional debt; expectations regarding the Company's available cash flow and debt capacity to pursue share repurchases and tuck-in acquisitions; the Company's gross margin, operating margin, and other financial targets for 2028 and beyond; and the Company's continued use of third-party suppliers. These statements are based on the beliefs and assumptions of the Company's management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions or expectations. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including those described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

More News From XPEL, Inc.