Shares of XPEL, Inc. (NASDAQ: XPEL), a leading provider of protective films and coatings, plummeted by 10.80% on November 7, 2024, following the release of the company's third-quarter 2024 financial results.

XPEL reported a Q3 revenue of $112.9 million, slightly missing the consensus analyst estimate of $113.066 million by 0.15%. Despite this minor revenue shortfall, the company delivered solid profitability metrics, including an EBITDA of $21.7 million, a net income of $14.9 million, and a gross margin of 42.5%.

However, the slight revenue miss appears to have dampened investor sentiment, triggering a sharp sell-off in XPEL's stock on the day of the earnings release. The stock opened significantly lower in pre-market trading, with a decline of over 6% before the market opened.