XPEL, Inc. (XPEL) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18
	10-K	10-K	10-K	10-K	10-K
Revenue
Total revenue	324.0	259.3	158.9	129.9	109.9
Total revenue growth	25.0%	63.1%	22.3%	18.2%
Cost of Sales
Total cost of sales	196.5	166.6	104.9	86.4	76.5
Gross Margin	127.5	92.7	54.0	43.5	33.4
Gross margin	39.4%	35.7%	34.0%	33.5%	30.4%

Operating Expenses
Sales and marketing	25.4	18.3	9.7	7.6	6.8
General and administrative	48.2	34.3	20.9	18.8	14.8
Total operating expenses	73.6	52.6	30.7	26.4	21.6
Operating Income	53.9	40.1	23.4	17.1	11.8
Operating margin	16.6%	15.5%	14.7%	13.2%	10.7%
Interest expense	-1.4	-0.3	-0.2	-0.1	-0.2
Foreign currency exchange loss	0.6	0.4	0.3	0.0	0.2
Income before income taxes	52.0	39.4	22.8	17.0	11.5
Income tax expense	10.6	7.9	4.5	3.0	2.8
Net income	41.4	31.6	18.3	14.0	8.7

Earnings per share
Basic (in dollars per share)	$1.50	$1.14	$0.66	$0.51	$0.32
Diluted (in dollars per share)	$1.50	$1.14	$0.66	$0.51	$0.32

Weighted Average Number of Common Shares
Basic (in shares)	27.6	27.6	27.6	27.6	27.6
Diluted (in shares)	27.6	27.6	27.6	27.6