XPEL, Inc. (NASDAQ:XPEL) Q3 2023 Earnings Conference Call November 8, 2023 11:00 AM ET
Company Participants
John Nesbett - IMS IR
Ryan Pape - President and CEO
Barry Wood - SVP and CFO
Conference Call Participants
Steve Dyer - Craig Hallum
Jeff Van Sinderen - B. Riley
Operator
Good day, everyone, and welcome to the XPEL, Inc. Third Quarter 2023 Earnings Call. [Operator Instructions]
It is now my pleasure to turn the floor over to your host, John Nesbett, IMS Investor Relations. Sir, the floor is yours.
John Nesbett
Good morning, and welcome to our conference call to discuss XPEL's financial results for the third quarter of 2023.
On the call today, Ryan Pape, XPEL's President and Chief Executive Officer; and Barry Wood, XPEL's Senior Vice President and Chief Financial Officer, will provide an overview of the business operations and review the company's financial results. Immediately after the prepared comments, we'll take questions from our call participants. A transcript of this call will be available on the company's website after the call. I'll take a moment to read the safe harbor statement.
During the course of this call, we'll make certain forward-looking statements regarding XPEL, Inc. and its business, which may include, but are not limited to, anticipated use of proceeds from capital transactions, expansion into new markets and execution of the company's growth strategy. Such statements are based on current expectations and assumptions, which are subject to known and unknown risk factors and uncertainties that could cause actual results to materially differ from those expressed in these statements. Some of these factors are discussed in detail in our most recent Form 10-K, including under the Item 1A Risk Factors filed with the Securities and Exchange Commission. XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Okay. With that, I'll now turn the call over to Ryan. Go ahead, Ryan.
Ryan Pape
Thank you, John, and good morning, everyone, and welcome from me also to our third quarter of 2023 conference call.
We had another strong quarter. Overall revenue growing 14.4% to $102.7 million. This was in line with our expectations for revenue and what we discussed on our Q2 call. Also, as expected, China did have a nice sequential increase from Q2 or still a 7% decline from Q3 2022, which impacted the quarter-over-quarter growth rate and our non-China revenue growth in the quarter was 17.4%.