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XPEL Reports Revenue of $ 68.5 Million in Third Quarter 2021 ; Net Income of $ 8.3 Million - San Antonio , TX – November 9 , 2021 - XPEL , Inc. ( Nasdaq : XPEL ) ( the " Company " ) , a global provider of protective films and coatings , announced results for the third quarter and first nine months ended September 30 , 2021 . Third Quarter 2021 Highlights : • • • Revenues increased 48.6 % to $ 68.5 million compared to third quarter 2020. Organic revenue growth was 38.4 % Net income grew 26.1 % to $ 8.3 million , or $ 0.30 per basic and diluted share , compared to $ 6.6 million , or $ 0.24 per basic and diluted share , in the same quarter of 2020 . Excluding acquisition integration and other one - time costs , net income increased 35.0 % to $ 8.9 million or $ 0.32 per basic and diluted share . EBITDA grew 27.1 % to $ 11.4 million , or 16.6 % of revenues compared to $ 9.0 million , or 19.5 % of sales in third quarter 2020.1 Excluding acquisition integration and other one- time costs , EBITDA grew 35.1 % to $ 12.1 million , or 17.7 % of revenue . First Nine Months Highlights : • Revenues increased 71.4 % to $ 189.1 million as compared to $ 110.3 million in the prior year period Net income increased by 108.0 % to $ 25.4 million , or $ 0.92 per basic and diluted share , compared to $ 12.2 million , or $ 0.44 per basic and diluted share , in the same period of 2020 EBITDA ( Earnings Before Interest , Taxes , Depreciation , and Amortization ) grew 98.4 % to $ 34.1 million , or 18.1 % of revenues , as compared to $ 17.2 million , or 15.6 % in the same prior year period¹ For the Quarter Ended September 30 , 2021 : Revenues . Revenues increased approximately $ 22.4 million , or 48.6 % , to $ 68.5 million as compared to $ 46.1 million in the prior year . Gross Margin . Gross margin was 35.7 % compared to 34.8 % in the third quarter of 2020 . Expenses . Operating expenses increased to $ 14.1 million , or 20.6 % of sales , compared to $ 7.6 million , or 16.5 % of sales in the prior year period . Net income . Net income was $ 8.3 million , or $ 0.30 per basic and diluted share , versus net income of $ 6.6 million , or $ 0.24 per basic and diluted share in the third quarter of 2020 .