The Law Offices of Frank R. Cruz Announces Investigation of XPEL, Inc. (XPEL) on Behalf of Investors

Los Angeles — The Law Offices of Frank R. Cruz announces an investigation of XPEL, Inc. (“XPEL” or the “Company”) (NASDAQ: XPEL) on behalf of investors concerning the Company’s possible violations of federal securities laws.

On October 19, 2023, Culper Research published a report alleging, among other things, that XPEL had “grossly understated its reliance on Tesla.” Culper Research estimated that Tesla represents 25-35% of XPEL’s revenue. Further, the report stated that the Company is “concealing a massive undisclosed risk from its primary supplier which threatens to upend [XPEL]’s entire reason for being.”

On this news, XPEL’s stock price fell $10.57, or 17.3%, to close at $50.65 per share on October 19, 2023, thereby injuring investors.

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If you purchased XPEL securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.  If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz

310-914-5007

fcruz@frankcruzlaw.com

www.frankcruzlaw.com