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This statistic highlights XPEL Inc’s Revenue by Segment, split between Product Revenue and Service Revenue, reported on a quarterly basis from Q1 2019 onwards.
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
(All figures are in millions, except percentages)
XPEL began as a software company designing vehicle patterns used to produce the cut and to fit the protective film for the painted surfaces of automobiles.
Economic trends observed:
XPEL Inc’s Revenue by Segment increases on a year-on-year and quarter-on-quarter basis. Earlier in Q3 2020 company held revenue of $47 million, while in Q3 2021 it rose to $69 million showing an increase of 47%. The company’s Service Revenue segment shows a revenue holding of 20%, while the Product Revenue segment shows a revenue holding of 80%, which is the largest revenue shareholding in the year 2021.
However, every year around 70% of the revenue by segment is extracted by the Product Revenue Segment, and the Service Revenue segment extracts only 20%.
In 2007, they also began selling automotive surface and paint protection film products to complement their software business. In 2011, they also introduced their Ultimate protective film product line which, at the time, was the industry’s first protective film along with self healing properties. The Ultimate technology allows the protective film to better absorb the impacts from rocks, thereby fully protecting the painted surface for a vehicle. The film is described as the Self-Healing due to its ability to return to its original state after damage from surface scratches also.
Economic trends observed:
Product revenue company is the highest revenue contributor of the company among all segments. It contributes around 82% to the total revenue of the company every quarter. The company shows immense up and down in revenue by region in the Product Revenue segment. Earlier in Q3 2020 company held a total of $40 million, while in the year Q2 2021 it rose to $59 million. This shows a quarter-on-quarter growth of 47% in the revenue in product revenue segment of the company. Further, in Q3 2021 revenue of the segment falls immensely to $57 million, which showed a quarter-on-quarter decline of 4%. Product revenue segment contributed 80% to the total revenue of the company from all segments in Q3 2021.
Service revenue segment contributes around 17% to the total revenue of the company every quarter. The company shows immense up and down in revenue by region in the Service Revenue segment.
Economic trends observe:
Earlier in Q3 2020 company held a total of $7 million, while in the year Q2 2021 it rose to $11 million. This shows their 58% rise in revenue in this segment of the company. Further, in Q3 2021 the revenue from the service revenue segment rose immensely to $12 million and showed a quarter-on-quarter growth, which shows the total growth increases by 10%.
About The Company
XPEL is a corporation based in the United States. XPEL has evolved from an automobile product design software firm to a global distributor of aftermarket automotive solutions, including car surface and paint protection, and automotive window films, as well as a provider of complementing proprietary software, since its founding in 1997. The company was incorporated in the year 2003.
XPEL Incorporation has created its official website where it puts all the updates, new launches, and information related to the company. In 2018, the company added architectural window film (both commercial and residential) and security film protection for commercial and residential usage to their product line, and in 2019, the company added automotive ceramic coatings to its product range.
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