XPEL, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $51.2M | $45.5M | $52.8M | $41.4M | $31.6M | $18.3M | $14.0M | $8.7M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $6.3M | $5.8M | $4.5M | $3.4M | $1.9M | $1.3M | $915.9K | $736.0K |
| Amortization | $7.0M | $5.9M | $5.1M | $4.4M | $2.5M | $956.0K | $781.1K | $642.8K |
| Stock-Based Compensation | $2.8M | $3.2M | $1.6M | $522.0K | $169.0K | $0 | $0 | — |
| Net Cash from Operating Activities | $66.9M | $47.8M | $37.4M | $12.1M | $18.3M | $18.5M | $11.0M | $6.8M |
| Investing Activities | ||||||||
| Capital Expenditures | $4.0M | $6.7M | $6.4M | $7.9M | $6.7M | $1.8M | $1.6M | $2.0M |
| Business Acquisitions | $26.2M | $9.9M | $18.7M | $4.7M | $49.2M | $2.6M | $127.6K | $831.9K |
| Net Cash from Investing Activities | $-33.8M | $-18.4M | $-26.4M | $-14.2M | $-56.8M | $-4.7M | $-2.3M | $-3.1M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $3.0M | $0 | $0 | — | — | — | — | — |
| Net Cash from Financing Activities | $-3.7M | $-19.3M | $-7.3M | $602.0K | $19.2M | $3.5M | $-1.1M | $-3.1M |
| Net Change in Cash | $28.8M | $10.5M | $3.6M | $-1.6M | $-19.4M | $17.5M | $7.5M | $472.3K |
| Free Cash Flow | $62.9M | $41.1M | $31.0M | $4.1M | $11.5M | $16.7M | $9.4M | $4.8M |