XPEL, Inc. Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	46.71	45.49	52.8	41.38	31.57	18.28
Depreciation & Amortization	12.52	11.7	9.59	7.83	4.39	2.23
Loss (Gain) From Sale of Assets	-0.03	-0.05	-0.01	-0.01	-0.04	-0
Stock-Based Compensation	3.64	3.2	1.64	0.52	0.17	-
Provision & Write-off of Bad Debts	0.97	0.39	0.24	0.47	0.3	0.11
Other Operating Activities	-3.95	-2.75	-0.92	-0.46	1.04	-0.21
Change in Accounts Receivable	-7.52	-5.6	-7	-2.63	-0.43	-2.43
Change in Inventory	-4.76	-4.79	-24.84	-28.57	-26.94	-6.76
Change in Accounts Payable	20.36	2.66	6.48	-7.9	12.02	6.36
Change in Income Taxes	2.32	-0.27	-1.2	1.16	-0.77	0.38
Change in Other Net Operating Assets	0.32	-2.15	0.6	0.26	-3.04	0.51
Operating Cash Flow	70.6	47.82	37.38	12.06	18.27	18.47
Operating Cash Flow Growth	74.83%	27.93%	210.06%	-34.00%	-1.07%	68.40%
Capital Expenditures	-4.56	-6.71	-6.36	-7.94	-6.73	-1.78
Sale of Property, Plant & Equipment	0.03	0.04	0.03	0.07	0.07	0.06
Cash Acquisitions	-18.5	-9.86	-18.74	-4.67	-49.19	-2.57
Sale (Purchase) of Intangibles	-1.49	-1.88	-1.29	-1.62	-0.96	-0.37
Investing Cash Flow	-26.2	-18.4	-26.35	-14.16	-56.81	-4.66
Long-Term Debt Issued	-	-	-	1	25	6
Total Debt Issued	-	-	-	1	25	6
Long-Term Debt Repaid	-	-19.06	-7.09	-0.37	-5.76	-1.7
Total Debt Repaid	-0.13	-19.06	-7.09	-0.37	-5.76	-1.7
Net Debt Issued (Repaid)	-0.13	-19.06	-7.09	0.63	19.24	4.3
Repurchase of Common Stock	-0.18	-0.19	-0.17	-0.03	-	-
Other Financing Activities	-0.15	-	-	-	-	-0.79
Financing Cash Flow	-0.46	-19.25	-7.26	0.6	19.24	3.51
Foreign Exchange Rate Adjustments	-0.42	0.31	-0.22	-0.09	-0.08	0.21
Net Cash Flow	43.51	10.48	3.55	-1.59	-19.38	17.53
Free Cash Flow	66.04	41.11	31.03	4.12	11.54	16.68
Free Cash Flow Growth	96.07%	32.50%	652.92%	-64.30%	-30.81%	77.57%
Free Cash Flow Margin	14.31%	9.78%	7.83%	1.27%	4.45%	10.50%
Free Cash Flow Per Share	2.39	1.49	1.12	0.15	0.42	0.60
Cash Interest Paid	0.12	1.03	1.24	1.31	0.21	0.18
Cash Income Tax Paid	13.48	13.62	15.29	9.9	7.76	4.46
Levered Free Cash Flow	61.09	35.58	17.59	-7.23	2.05	12.34
Unlevered Free Cash Flow	61.16	36.2	18.37	-6.35	2.24	12.49
Change in Working Capital	10.72	-10.16	-25.96	-37.68	-19.16	-1.95

Source: S&P Global Market Intelligence. Standard template. Financial Sources.