quick Xpel update

Original post: [XPEL] Xpel (4/1/24)

I bought some XPEL shares in March and wrote some nice things about them. Naturally, soon after, the company reported an awful quarter and the stock cratered. Management cited broad aftermarket weakness in the US – “it was not uncommon to see dealers who were down 10%, 15% in the first quarter from the prior year period” – and a horrendous 78% revenue collapse in China. Consolidated topline growth decelerated to 5%, down from 20% a year ago while operating expenses grew by 36% (29% excluding annual dealer conference expenses), driving EBITDA down by 31%.