v3.25.1

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2025	Dec. 31, 2024
Current
Cash and cash equivalents	$ 23,541,000	$ 22,087,000
Accounts receivable, net	33,359,000	29,146,000
Inventory, net	115,306,000	110,904,000
Prepaid expenses and other current assets	6,093,000	5,314,000
Income tax receivable	0	893,000
Total current assets	178,299,000	168,344,000
Property and equipment, net	17,254,000	17,735,000
Right-of-use lease assets	19,240,000	19,490,000
Intangible assets, net	33,795,000	34,562,000
Deferred tax asset, net	235,000	0
Other non-current assets	1,555,000	1,350,000
Goodwill	44,444,000	44,126,000
Total assets	294,822,000	285,607,000
Current
Current portion of notes payable	65,000	63,000
Current portion lease liabilities	5,075,000	4,666,000
Accounts payable and accrued liabilities	34,377,000	36,789,000
Income tax payable	2,065,000	0
Total current liabilities	41,582,000	41,518,000
Deferred tax liability, net	0	469,000
Other long-term liabilities	1,826,000	1,810,000
Non-current portion of lease liabilities	15,809,000	16,126,000
Non-current portion of notes payable	151,000	229,000
Total liabilities	59,368,000	60,152,000
Commitments and Contingencies (Note 11)
Stockholders’ equity
Preferred stock, $0.001 par value; authorized 10,000,000; none issued and outstanding	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized; 27,661,587 and $27,651,773 issued and outstanding, respectively	28,000	28,000
Additional paid-in-capital	16,136,000	15,550,000
Accumulated other comprehensive loss	(3,409,000)	(4,236,000)
Retained earnings	222,699,000	214,113,000
Total stockholders’ equity	235,454,000	225,455,000
Total liabilities and stockholders’ equity	$ 294,822,000	$ 285,607,000

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

XPEL, Inc. 10-Q