Shares of XPEL, Inc. (NASDAQ: XPEL), a leading provider of protective films and coatings, plunged more than 6% in pre-market trading on Wednesday after the company reported its third-quarter 2024 financial results.

While XPEL's Q3 earnings per share of $0.54 met analyst expectations, the company's revenue of $112.9 million slightly missed the consensus estimate of $113.066 million, down 0.15% from analysts' expectations. This revenue miss appears to have dampened investor sentiment, leading to the pre-market sell-off.

Despite the revenue shortfall, XPEL reported solid profitability metrics, including an EBITDA of $21.7 million and a net income of $14.9 million. The company's gross margin also remained healthy at 42.5% during the quarter.