San Antonio-based XPEL Inc., a supplier of automotive paint protection and window films, has filed paperwork with the SEC to register its existing shares without offering any additional shares for sale. In conjunction with this filing, the company has submitted an application to NASDAQ seeking to list its common stock under the ticker symbol “XPEL.” Its stock is currently traded on the Toronto Stock Exchange.
President and CEO Ryan Pape said a U.S. listing has been on the radar for a while now. “As a U.S.-based company, it’s logical for us to move our primary reporting jurisdiction to the U.S.,” Pape explained. “We think this move will be beneficial, both to our shareholders and the company, by exposing XPEL to a larger audience of investors, ultimately increasing liquidity, simplifying compliance and increasing our access to capital in the future should the business need it.”
In 2018, XPEL’s revenue increased 63.3% to $109.92 million, and its gross margin expanded from 24.8% to 30.4%. Net income rose from $994,330 to $8.71 million.