XPEL (XPEL) 10-K 28 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38858
Entity Registrant Name	XPEL, INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-1117381
Entity Address, Address Line One	711 Broadway, Suite 320
Entity Address, City or Town	San Antonio
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78215
City Area Code	210
Local Phone Number	678-3700
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	XPEL
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,006,381,554
Entity Common Stock, Shares Outstanding		27,616,064
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Document Parts into which Incorporated Portions of the registrant’s Proxy Statement relating to the 2023 Annual Meeting of Stockholders to be held on May 24, 2023. Part III
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001767258

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Austin, Texas

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current
Cash and cash equivalents	$ 8,056	$ 9,644
Accounts receivable, net	14,726	13,159
Inventory, net	80,575	51,936
Prepaid expenses and other current assets	3,464	3,672
Income tax receivable	0	617
Total current assets	106,821	79,028
Property and equipment, net	14,203	9,898
Right-of-use lease assets	15,309	12,910
Intangible assets, net	29,294	32,733
Other non-current assets	972	791
Goodwill	26,763	25,655
Total assets	193,362	161,015
Current
Current portion of notes payable	77	375
Current portion of lease liabilities	3,885	2,978
Accounts payable and accrued liabilities	22,970	32,915
Income tax payable	470	0
Total current liabilities	27,402	36,268
Deferred tax liability, net	2,049	2,748
Other long-term liabilities	1,070	2,631
Borrowings on line of credit	26,000	25,000
Non-current portion of lease liabilities	12,119	9,830
Non-current portion of notes payable	0	76
Total liabilities	68,640	76,553
Commitments and Contingencies (Note 15)
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; 27,616,064 issued and outstanding	28	28
Additional paid-in-capital	11,073	10,581
Accumulated other comprehensive loss	(2,203)	(590)
Retained earnings	115,824	74,443
Total stockholders’ equity	124,722	84,462
Total liabilities and stockholders’ equity	$ 193,362	$ 161,015

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock shares authorized (in shares)	10,000,000	10,000,000
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized (in shares)	100,000,000	100,000,000
Common stock shares issued (in shares)	27,616,064	27,616,064
Common stock shares outstanding (in shares)	27,616,064	27,616,064

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue
Total revenue	$ 323,993	$ 259,263	$ 158,924
Cost of Sales
Total cost of sales	196,481	166,586	104,899
Gross Margin	127,512	92,677	54,025
Operating Expenses
Sales and marketing	25,367	18,273	9,748
General and administrative	48,208	34,288	20,907
Total operating expenses	73,575	52,561	30,655
Operating Income	53,937	40,116	23,370
Interest expense	1,410	303	249
Foreign currency exchange loss	562	373	316
Income before income taxes	51,965	39,440	22,805
Income tax expense	10,584	7,873	4,523
Net income	$ 41,381	$ 31,567	$ 18,282
Earnings per share
Basic (in dollars per share)	$ 1.50	$ 1.14	$ 0.66
Diluted (in dollars per share)	$ 1.50	$ 1.14	$ 0.66
Weighted Average Number of Common Shares
Basic (in shares)	27,614	27,613	27,613
Diluted (in shares)	27,616	27,613	27,613
Product revenue
Revenue
Total revenue	$ 258,174	$ 217,283	$ 136,262
Cost of Sales
Total cost of sales	169,905	151,286	98,502
Service revenue
Revenue
Total revenue	65,819	41,980	22,662
Cost of Sales
Total cost of sales	$ 26,576	$ 15,300	$ 6,397

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other comprehensive income
Net income	$ 41,381	$ 31,567	$ 18,282
Foreign currency translation	(1,613)	(657)	970
Total comprehensive income	39,768	30,910	19,252
Total comprehensive income attributable to:
Stockholders of the Company	39,768	30,910	19,257
Non-controlling interest	$ 0	$ 0	$ (5)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Equity attributable to Stockholders of the Company	Common Stock	Additional Paid-in-Capital	Retained Earnings	Accumulated Other Comprehensive (Income) Loss	Non-Controlling Interest
Beginning stock outstanding balance (in shares) at Dec. 31, 2019			27,613,000
Beginning balance at Dec. 31, 2019	$ 34,893	$ 35,062	$ 28	$ 11,348	$ 24,594	$ (908)	$ (169)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,282	18,282			18,282
Foreign currency translation	970	975				975	(5)
Purchase of minority interest	(762)	(936)		(936)			174
Ending stock outstanding balance (in shares) at Dec. 31, 2020			27,613,000
Ending balance at Dec. 31, 2020	53,383	53,383	$ 28	10,412	42,876	67	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31,567	31,567			31,567
Foreign currency translation	(657)	(657)				(657)
Stock-based compensation	$ 169	169		169
Ending stock outstanding balance (in shares) at Dec. 31, 2021	27,616,064		27,613,000
Ending balance at Dec. 31, 2021	$ 84,462	84,462	$ 28	10,581	74,443	(590)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41,381	41,381			41,381
Foreign currency translation	(1,613)	(1,613)				(1,613)
Stock-based compensation (in shares)			3,000
Stock-based compensation	$ 492	492		492
Ending stock outstanding balance (in shares) at Dec. 31, 2022	27,616,064		27,616,000
Ending balance at Dec. 31, 2022	$ 124,722	$ 124,722	$ 28	$ 11,073	$ 115,824	$ (2,203)	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income	$ 41,381	$ 31,567	$ 18,282
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	3,433	1,887	1,274
Amortization of intangible assets	4,401	2,501	956
Gain on sale of property and equipment	(8)	(36)	(3)
Stock compensation	522	169	0
Bad debt expense	467	302	114
Deferred income tax	(471)	1,011	(273)
Accretion on notes payable	7	25	65
Changes in assets and liabilities:
Accounts receivable, net	(2,631)	(432)	(2,431)
Inventory, net	(28,565)	(26,939)	(6,759)
Prepaid expenses and other assets	259	(3,043)	506
Income tax receivable or payable	1,160	(766)	376
Accounts payable and accrued liabilities	(7,898)	12,022	6,359
Net cash provided by operating activities	12,057	18,268	18,466
Cash flows used in investing activities
Purchase of property, plant and equipment	(7,936)	(6,725)	(1,782)
Proceeds from sale of property and equipment	73	66	61
Acquisitions, net of cash acquired, payment holdbacks, and notes payable	(4,673)	(49,185)	(2,569)
Development or purchase of intangible assets	(1,620)	(964)	(374)
Net cash used in investing activities	(14,156)	(56,808)	(4,664)
Cash flows from financing activities
Net borrowings on revolving credit agreements	1,000	25,000	0
Payments on term-loan	0	(5,064)	0
Borrowing on term-loan	0	0	6,000
Restricted stock withholding taxes paid in lieu of issued shares	(30)	0	0
Repayments of notes payable	(368)	(695)	(1,704)
Purchase of minority interest	0	0	(785)
Net cash provided by financing activities	602	19,241	3,511
Net change in cash and cash equivalents	(1,497)	(19,299)	17,313
Foreign exchange impact on cash and cash equivalents	(91)	(84)	213
(Decrease) Increase in cash and cash equivalents during the period	(1,588)	(19,383)	17,526
Cash and cash equivalents at beginning of year	9,644	29,027	11,501
Cash and cash equivalents at end of year	8,056	9,644	29,027
Supplemental schedule of non-cash activities
Notes payable issued for acquisitions	0	0	893
Contingent consideration	0	2,576	541
Non-cash lease financing	6,094	9,430
Supplemental cash flow information
Cash paid for income taxes	9,897	7,762	4,461
Cash paid for interest	$ 1,306	$ 210	$ 178

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Nature of Business - The Company is based in San Antonio, Texas and sells, distributes, and installs protective films and coatings, including automotive surface and paint protection film, headlight protection, automotive and architectural window films and ceramic coatings. The Company was incorporated in the state of Nevada, U.S.A. in October 2003 and its registered office is 711 Broadway, Suite 320, San Antonio, Texas, 78215. Basis of Presentation - The consolidated financial statements are prepared in conformity with GAAP and include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated. The functional currency for the Company is the United States dollar. The assets and liabilities of each of its wholly-owned foreign subsidiaries are translated into U.S dollars using the exchange rate at the end of the balance sheet date. Revenues and expenses are translated at the average exchange rates for the period. Gains and losses from translations are recognized in foreign currency translation included in accumulated other comprehensive loss in the accompanying consolidated balance sheets. Segment Reporting - Management has concluded that our chief operating decision maker (“CODM”) is our chief executive officer. The Company’s CODM reviews the entire organization’s consolidated results as a whole on a monthly basis to evaluate performance and make resource allocation decisions. Management views the Company’s operations and manages its business as one operating segment. Use of Estimates - The preparation of these consolidated financial statements in conformity to U.S. Generally Accepted Accounting Principles (“GAAP”) requires management to make judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and underlying assumptions are reviewed on an ongoing basis. Actual outcomes may differ from these estimates under different assumptions and conditions. Foreign Currency Translation - The U.S. dollar is the functional currency of our domestic operations located in the United States. The financial statements of subsidiaries located outside of the U.S. are generally measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average monthly rates of exchange. The resultant translation adjustments are included in accumulated other comprehensive income, a separate component of stockholders’ equity. Cash and Cash Equivalents - Cash and cash equivalents consist of cash and highly liquid investments with an original maturity of three months or less at the date of purchase. The balance, at times, may exceed federally insured limits. Accounts Receivable - Accounts receivable are shown net of an allowance for doubtful accounts of $0.2 million and $0.3 million as of December 31, 2022 and 2021, respectively. The Company evaluates the adequacy of its allowances by analyzing the aging of receivables, customer financial condition, historical collection experience, the value of any collateral and other economic and industry factors. Actual collections may differ from historical experience, and if economic, business or customer conditions deteriorate significantly, adjustments to these reserves may be required. When the Company becomes aware of factors that indicate a change in a specific customer’s ability to meet its financial obligations, the Company records a specific reserve for credit losses. At December 31, 2022 and 2021, there were no significant accounts receivable concentrations. Inventory - Inventories of all operating subsidiaries are comprised of raw materials, film, film installation support products, and supplies which are valued at lower of cost or net realizable value, with cost determined on a weighted average cost basis. Inventory costs include those costs directly attributable to products, including materials, labor, shipping, and overhead. The Company provides reserves for discontinued, slow-moving and excess inventory based upon historical demand calculations, forecasted usage, estimated customer requirements and product line updates. As of December 31, 2022 and 2021, inventory reserves were $0.7 million and $0.1 million , respectively. Property, Plant and Equipment - Property and equipment are recorded at cost, with the exception of property and equipment acquired in connection with the Company’s acquisitions, which are recorded at fair value on the date of acquisition. Expenditures which improve or extend the life of the respective definite-lived assets are capitalized, whereas expenditures for normal repairs and maintenance are charged to operations as incurred. Depreciation expense is computed using the straight-line method as follows: Furniture and fixtures 5 years Computer equipment 3-4 years Vehicles 5 years Equipment 5-8 years Leasehold improvements shorter of lease term or estimated useful life Plotters 4 years The following table presents geographic property, plant and equipment, net of accumulated depreciation, by region as of December 31 (in thousands): 2022 2021 United States $ 12,511 $ 7,890 Canada 469 656 Europe 1,093 1,118 Other 130 234 Consolidated $ 14,203 $ 9,898 Goodwill - Goodwill represents the excess purchase price over the fair value of tangible net assets acquired in acquisitions after amounts have been allocated to intangible assets. Goodwill is tested for impairment at the reporting unit level on an annual basis (at December 31) and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. The Company recognized no goodwill impairment in the years ended December 31, 2022 or December 31, 2021, and there is no significant accumulated impairment of goodwill from prior years. Refer to Note 6, Goodwill for more information related to goodwill. The following table presents geographic goodwill by region as of December 31 (in thousands): 2022 2021 United States $ 17,699 $ 16,348 Canada 5,108 5,874 Europe 2,923 3,429 Other 1,033 4 Consolidated $ 26,763 $ 25,655 Intangible Assets - Intangible assets consist primarily of software, customer relationships, trademarks and non-compete agreements. These assets are amortized on a straight-line basis over the period of time in which their expected benefits will be realized. The following table presents geographic intangible assets, net by region as of December 31 (in thousands): 2022 2021 United States $ 23,749 $ 25,910 Canada 3,127 3,360 Europe 1,685 3,278 Other 733 185 Consolidated $ 29,294 $ 32,733 The following table presents the anticipated useful lives of intangible assets: Trademarks 10 years Software 5 years Trade name 10-15 years Contractual and customer relationships 9-10 years Non-compete 3-5 years Other 2-10 years Impairment of Long-Lived Assets - The Company reviews and evaluates long-lived assets for impairment when events or circumstances indicate that the carrying amount of an asset may not be recoverable. When the undiscounted expected future cash flows are not sufficient to recover an asset’s carrying amount, the fair value is compared to the carrying value to determine the impairment loss to be recorded. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value, less the cost to sell. Fair values are determined by independent appraisals or expected sales prices based upon market participant data developed by third party professionals or by internal licensed real estate professionals. Estimates of future cash flows and expected sales prices are judgments based upon the Company’s experience and knowledge of operations. These estimates project cash flows several years into the future and are affected by changes in the economy, real estate market conditions and inflation. No impairment was recorded during the years ended December 31, 2022 or 2021. Other Long-Term Liabilities - The balance presented as other long-term liabilities on the Company’s consolidated balance sheet at December 31, 2022 primarily relate to contingent liabilities. These liabilities are revalued at each reporting period. Refer to Note 13 for additional discussion of the valuation of these liabilities. Revenue Recognition - Our revenue is comprised primarily of product and services sales where we act as principal to the transaction. All revenue is recognized when the Company satisfies its performance obligation(s) by transferring control/final benefit from the promised product or service to our customer. Due to the nature of our sales contracts, the majority of our revenue is recognized at a point in time. A performance obligation is a contractual promise to transfer a distinct product or service to a customer. A contract’s transaction price is allocated to each distinct performance obligation. Revenue is recorded net of returns and allowances. Sales, value add, and other taxes collected from customers and remitted to governmental authorities are accounted for on a net (excluded from revenues) basis. Shipping and handling costs are accounted for as a fulfillment obligation, on a net basis, and are included in cost of sales. See Note 2, Revenue, for additional accounting policies and transition disclosures. Research and Development - Research costs are charged to operations when incurred. Software development costs, including costs associated with developing software patterns, are expensed as incurred unless the Company incurred these expenses in the development of a new product or long-lived asset. Research and development costs were $0.4 million, $0.4 million, and $0.1 million in the years ended December 31, 2022, 2021 and 2020, respectively. Advertising costs - Advertising costs are charged to operations when incurred. Advertising costs were $1.2 million, $1.1 million and $0.6 million in the years ended December 31, 2022, 2021 and 2020, respectively. Provisions and Warranties - We provide warranties on our products. Liability under the warranty policy is based on a review of historical warranty claims. Adjustments are made to the accruals as claims data experience warrant. The following table presents a summary of our warranty liabilities as of December 31, 2022 and 2021 (in thousands): 2022 2021 Warranty balance at beginning of period $ 75 $ 52 Warranties assumed in period 624 398 Payments (465) (375) Warranty balance at end of period $ 234 $ 75 Income Taxes - Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Such deferred income tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred and other tax assets and liabilities. The Company accounts for the tax impact of including Global Intangible Low-Taxed Income (“GILTI”) in U.S. taxable income as a period cost. Stock-Based Compensation - We measure stock-based compensation cost at the grant date based on the fair value of the award. Compensation expense is recognized over the period during which the recipient provides service in exchange for the awards. Excess income tax benefits related to share-based compensation expense are recognized as income tax expense or benefit in the Consolidated Statements of Income. We account for forfeitures as they occur, rather than estimate expected forfeitures. Accumulated Other Comprehensive Income (Loss) (“AOCI”) - The Company reports comprehensive income (loss) that includes net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to expenses, gains and losses that are not included in net earnings. These amounts are also presented in the Consolidated Statements of Comprehensive Income. As of December 31, 2022 and 2021, respectively, AOCI relates to foreign currency translation adjustments. Earnings Per Share - Basic earnings per share is calculated by dividing net income for the year attributable to common stockholders by the weighted average number of common shares outstanding during the year. Diluted earnings per share is calculated by dividing the net income attributable to common stockholders by the weighted average number of shares outstanding during the period plus the weighted average number of shares that would be issued on the conversion of all the dilutive potential ordinary shares into common shares. Acquisitions of Businesses - Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the fair value of the consideration transferred including the recognized amount of any non-controlling interest in the acquiree, over the fair value of the Company’s share of the identifiable net assets acquired is recorded as goodwill. Acquisition- related expenses are recognized separately from the business combination and are recognized as general and administrative expense as incurred. The Company evaluates the materiality of required disclosures related to our business combinations using quantitative and qualitative measures. Fair Value Measurements - Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date: Level 1: Valuation is based on observable inputs such as quoted market prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Valuation is based on inputs such as quoted market prices for similar assets or liabilities in active markets or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3: Valuation is based upon other unobservable inputs that are significant to the fair value measurement. In making fair value measurements, observable market data must be used when available. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Recent Accounting Pronouncements Issued and Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments — Measurement of Credit Losses on Financial Instruments”, which requires measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 is effective for the Company beginning January 1, 2023 and is required to be applied prospectively. We are currently evaluating the impact that ASU 2016-13 will have on our consolidated financial statements.

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue recognition The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised goods and services to a customer, in an amount that reflects the consideration that it expects to receive in exchange for those goods or services. This is achieved through applying the following five-step model: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, the Company satisfies a performance obligation. The Company generates substantially all of its revenue from contracts with customers, whether formal or implied. Sales taxes collected from customers are remitted to the appropriate taxing jurisdictions and are excluded from sales revenue as the Company considers itself a pass-through conduit for collecting and remitting sales taxes, with the exception of taxes assessed during the procurement process of select inventories. Shipping and handling costs are included in cost of sales. Revenue from product and services sales are recognized when control of the goods is transferred to the customer which occurs at a point in time typically upon shipment to the customer or completion of the service. This standard applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Based upon the nature of the products the Company sells, its customers have limited rights of return which are immaterial. Discounts provided by the Company to customers at the time of sale are recognized as a reduction in sales as the products are sold. Warranty obligations associated with the sale of our products are assurance-type warranties that are a guarantee of the product’s intended functionality and, therefore, do not represent a distinct performance obligation within the context of the contract. Warranty expense is included in cost of sales. We apply a practical expedient to expense direct costs of obtaining a contract when incurred because the amortization period would have been one year or less. Under its contracts with customers, the Company stands ready to deliver product upon receipt of a purchase order. Accordingly, the Company has no performance obligations under its contracts until its customers submit a purchase order. The Company does not enter into commitments to provide goods or services that have terms greater than one year. In limited cases, the Company does require payment in advance of shipping product. Typically, product is shipped within a few days after prepayment is received. These prepayments are recorded as contract liabilities on the consolidated balance sheet and are included in accounts payable and accrued liabilities. See Note 10 of the Notes to our Consolidated Financial Statements for further information. As the performance obligation is part of a contract that has an original expected duration of less than one year, the Company has applied the practical expedient to omit disclosures regarding remaining performance obligations. The following table summarizes transactions included within contract liabilities for the years ended December 31, 2022, 2021 and 2020, respectively (in thousands): Balance, December 31, 2020 $ 245 Revenue recognized related to payments included in the December 31, 2020 balance (199) Balance, Payments received for which performance obligations have not been satisfied 773 Effect of Foreign Currency Translation (1) Balance, December 31, 2021 $ 818 Revenue recognized related to payments included in the December 31, 2021 balance (768) Payments received for which performance obligations have not been satisfied 206 Effect of Foreign Currency Translation 5 Balance, December 31, 2022 $ 261 When the Company transfers goods or services to a customer, payment is due, subject to normal terms, and is not conditional on anything other than the passage of time. Typical payment terms range from due upon receipt to 30 days, depending on the type of customer and relationship. At contract inception, the Company expects that the period of time between the transfer of goods to the customer and when the customer pays for those goods will be less than one year, which is consistent with the Company’s standard payment terms. Accordingly, the Company has elected the practical expedient to not adjust for the effects of a significant financing component. As such, these amounts are recorded as receivables and not contract assets. The table below sets forth the disaggregation of revenue by product category for the years ended December 31, 2022, 2021, and 2020 (in thousands): 2022 2021 2020 Product Revenue Paint protection film $ 192,374 $ 169,880 $ 110,786 Window film 54,370 38,363 20,951 Other 11,430 9,040 4,525 Total 258,174 217,283 136,262 Service Revenue Software $ 5,213 $ 4,373 $ 3,489 Cutbank credits 16,317 12,372 7,785 Installation labor 42,828 24,253 10,925 Training and other 1,461 982 463 Total 65,819 41,980 22,662 Total $ 323,993 $ 259,263 $ 158,924

ACQUISITION OF BUSINESSES

ACQUISITION OF BUSINESSES	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITION OF BUSINESSES	ACQUISITIONS OF BUSINESSES The Company completed the following acquisitions during the years ended December 31, 2022, 2021 and 2020 (dollars in thousands): Acquisition Date Name/Location/Description Purchase Price Acquisition Type Acquisition Purpose October 1, 2022 Paint Protection Film portion of Car Care Products Australia, Australia, Paint protection film distributor $ 2,178 Asset Purchase Local market expansion November 1, 2021 invisiFRAME, Ltd, Shrewsbury, Shropshire, United Kingdom, bicycle paint protection film pattern designer and retailer $ 7,390 Share Purchase Market Expansion October 1, 2021 Tintnet, Inc. and 1 One Armor, Inc., Scottsdale, Arizona, United States, window and paint protection film distribution and installation $ 13,000 Share Purchase Market Expansion October 1, 2021 6873391 Canada Ltd. o/a Shadow Shield, 1716808 Alberta Ltd. o/a Shadow Tint, and North 1 Technologies, Calgary, Alberta, Canada, window and paint protection film distribution, installation provider and pattern developer $ 7,178 Share Purchase Local market expansion May 25, 2021 PermaPlate Film LLC, Salt Lake City, Utah, United States, Window film distribution and installation business $ 30,000 Membership Interest Purchase Market Expansion December 31, 2020 Veloce Innovation, Houston, Texas, United States, Window film installation business $ 1,441 Asset Purchase Local market expansion October 30, 2020 France Auto Racing, Dijon, France, Paint protection film distributor $ 329 Asset Purchase Local market expansion February 1, 2020 Protex Centre, Laval, Quebec, Canada - Paint protection installation shop $ 2,475 Share Purchase Local market expansion The total purchase price for acquisitions completed during the years ended December 31, 2022, 2021 and 2020 are as follows (in thousands): December 31, 2022 Acquisitions 2021 Acquisitions 2020 Acquisitions Purchase Price Cash 1 $ 1,876 $ 54,991 $ 2,811 Promissory note — — 893 Contingent consideration — 2,576 541 Cancellation of receivable balance 302 — — $ 2,178 $ 57,567 $ 4,245 Allocation Cash $ — $ 3,789 $ 243 Accounts receivable — 3,250 207 Inventory 595 2,895 182 Prepaid expenses and other assets — 73 4 Other long-term assets — 7 6 Property and equipment — 440 162 Right-of-use lease assets — — 588 Software — — 1 Trade name — 2,121 — Acquired patterns — 488 — Customer relationships 612 26,329 1,896 Non-compete — — 179 Goodwill 971 21,284 1,939 Current portion of lease liabilities — — (73) Accounts payable and accrued liabilities — (1,982) (157) Non-current portion of lease liabilities — — (514) Assumed debt — — (109) Deferred tax liability — (1,127) (274) Taxes payable $ — $ — $ (35) $ 2,178 $ 57,567 $ 4,245 1 Total cash consideration is comprised of amounts paid on closing dates plus holdback amounts to be paid in the future. Intangible assets acquired in the years ended December 31, 2022 and 2021 have a weighted average useful life of 9 years. Goodwill for these acquisitions relates to the expansion into new geographical areas, the acquired employee knowledge of the various markets, institutional distribution abilities, as well as the expected synergies resulting from the acquisitions. Goodwill and other intangibles acquired in taxable asset purchases are analyzed for allowable amortization for tax purposes over appropriate periods as prescribed by applicable regulatory jurisdictions. Acquisition costs incurred related to these acquisitions were immaterial and were included in selling, general and administrative expenses. The acquired companies were consolidated into our financial statements on their respective acquisition dates. Neither the aggregate revenue nor the net income of the 2022 acquisition consolidated into our 2022 consolidated financial statements was material. The aggregate revenue and operating income of our 2021 acquisitions consolidated into our 2021 consolidated financial statements from the respective dates of acquisition were $16.6 million and $1.6 million, respectively. The aggregate revenue and operating income of our 2020 acquisitions consolidated into our 2020 consolidated financial statements from the respective dates of acquisition were $3.8 million and $1.1 million, respectively. The following unaudited pro forma financial information presents our results, including the estimated expenses relating to the amortization of intangibles purchased, as if the acquisition during the year ended December 31, 2022 had occurred on January 1, 2022 and 2021 (in thousands): Twelve Months Ended December 31, 2022 (Unaudited) 2021 (Unaudited) Revenue $ 325,807 $ 261,367 Net income $ 41,710 $ 31,854 The unaudited consolidated pro forma combined financial information does not purport to be indicative of the results which would have been obtained had the acquisitions been completed as of the beginning of the earliest period presented or of results that may be obtained in the future. In addition, they do not include any benefits that may result from the acquisition due to synergies that may be derived from the elimination of any duplicative costs. During the year ended December 31, 2022, we finalized the purchase price accounting for acquisitions completed during 2021. This finalization resulted in purchase price reductions of $0.9 million, an increase to goodwill of $0.8 million, a reduction to other intangible assets of $0.6 million, a decrease to deferred tax liabilities of $0.1 million, and a reduction to contingent liabilities of $0.9 million. These changes were caused by updates made to certain valuation assumptions. Results for the twelve months ended December 31, 2021 would not have been materially changed had these final allocations been made in that period.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET Property and equipment consists of the following (in thousands): December 31, 2022 December 31, 2021 Furniture and fixtures $ 2,667 $ 2,147 Computer equipment $ 3,455 $ 2,201 Vehicles $ 838 $ 822 Equipment $ 4,728 $ 3,571 Leasehold improvements $ 7,081 $ 5,138 Plotters $ 2,980 $ 2,133 Construction in Progress $ 1,745 $ 117 Total property and equipment $ 23,494 $ 16,129 Less: accumulated depreciation $ 9,291 $ 6,231 Property and equipment, net $ 14,203 $ 9,898 Depreciation expense for the years ended December 31, 2022, 2021 and 2020 was $3.4 million, $1.9 million and $1.3 million, respectively. Depreciation expense for equipment used in production is recorded to cost of goods sold. All other depreciation is recorded within general and administrative expense.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	INTANGIBLE ASSETS, NET Intangible assets consists of the following (in thousands): December 31, 2022 December 31, 2021 Trademarks $ 686 $ 500 Software $ 4,822 $ 3,431 Trade name $ 1,451 $ 2,579 Contractual and customer relationships $ 31,871 $ 31,326 Non-compete $ 440 $ 459 Other $ 497 $ 693 Total at cost $ 39,767 $ 38,988 Less: Accumulated amortization $ 10,473 $ 6,255 Intangible assets, net $ 29,294 $ 32,733 Amortization expense for the years ended December 31, 2022, 2021 and 2020 was $4.4 million, $2.5 million and $1.0 million, respectively. Based on the carrying value of definite-lived intangible assets as of December 31, 2022, we estimate our future amortization expense will be as follows (in thousands): 2023 $ 4,561 2024 $ 4,321 2025 $ 4,068 2026 $ 3,990 2027 $ 3,616 Thereafter $ 8,738

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The following table summarizes changes in the carrying amounts of goodwill for the years ended December 31, 2022 and 2021 (in thousands): Balance at December 31, 2020 $ 4,472 Additions $ 21,284 Foreign currency translation $ (101) Balance at December 31, 2021 $ 25,655 Balance at December 31, 2021 $ 25,655 Additions and purchase price allocation adjustments $ 1,826 Foreign currency translation $ (718) Balance at December 31, 2022 $ 26,763 For additional details related to the acquisition completed during the year ended December 31, 2022, and for details related to purchase price allocations finalized during the year, refer to Note 3.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of inventory, net of reserves, are summarized as follows (in thousands): December 31, 2022 December 31, 2021 Raw materials $ 10,416 $ 2,698 Work in process 6,756 180 Finished goods 63,403 49,058 $ 80,575 $ 51,936

DEBT

DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT REVOLVING FACILITIES The Company has a $75.0 million revolving line of credit with a financial institution. The facility is utilized to fund the Company's working capital needs and other strategic initiatives, and is secured by substantially all of the Company's current and future assets. Borrowings under the credit agreement bear interest on borrowed amounts at the Wall Street Journal U.S. Prime Rate less 0.75% per annum if the Company's EBITDA ratio is equal to or less than 2.00 to 1.00 or the Wall Street Journal U.S. Prime rate less 0.25% if the Company's EBITDA ratio (as defined in the facility) is greater than 2.00 to 1.00. The facility also contains a fee of 0.25% of the unused capacity on the facility. The interest rate for this credit facility as of December 31, 2022 w as 6.75%. The Company paid interest charges on borrowings under this facility of $1.3 million during the year ended December 31, 2022, and had a balance of $26.0 million as of December 31, 2022. This facility matures on July 5, 2024. The Loan Agreement governing the facility contains customary covenants relating to maintaining legal existence and good standing, complying with applicable laws, delivery of financial statements, payment of taxes and maintaining insurance. The Loan Agreement contains two financial covenants: (1) Senior Funded Debt (as defined in the Loan Agreement) divided by EBITDA (as defined in the Loan Agreement) at or below 3.50 : 1.00 when tested at the end of each fiscal quarter on a rolling four-quarter basis, and (2) A minimum Debt Service Coverage Ratio (as defined in the Loan Agreement) of 1.25 : 1.00 at the end of each fiscal quarter when measured on a rolling four-quarter basis. The Company also has a CAD $4.5 million revolving credit facility through a financial institution in Canada. This Canadian facility is utilized to fund the Company's working capital needs in Canada. This facility bears interest at HSBC Canada Bank’s prime rate plus 0.25%. As of December 31, 2022 and 2021, no balance was outstanding on this line of credit. As of December 31, 2022 and December 31, 2021, the Company was in compliance with all debt covenants. NOTES PAYABLE As part of its acquisition strategy, the Company uses a combination of cash and unsecured non-interest bearing promissory notes payable to fund its business acquisitions. The Company discounts the promissory note to fair value using market interest rates at the time of the acquisition. Notes payable are summarized as follows (in thousands): Weighted Average Interest Rate Matures December 31, 2022 December 31, 2021 Face value of acquisition notes payable 2.61% 2023 $ 77 $ 458 Total face value of notes payable $ 77 $ 458 Unamortized discount $ — $ (7) Current portion $ (77) $ (375) Total long-term debt $ — $ 76 Payments under outstanding notes will be completed in 2023.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANSThe Company sponsors defined contribution plans for substantially all employees. Annual Company contributions under the plans are discretionary. Company contribution expenses were $0.8 million, $0.5 million and $0.3 million for the plan years ended December 31, 2022, 2021 and 2020, respectively.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The following table presents significant accounts payable and accrued liability balances as of the periods ending: December 31, 2022 December 31, 2021 Trade payables $ 16,689 $ 25,175 Payroll liabilities 3,596 3,386 Contract liabilities 261 818 Acquisition holdback payments 191 2,007 Other liabilities 2,233 1,529 $ 22,970 $ 32,915

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCKShares issued and outstanding at both December 31, 2022 and 2021 were 27,616,064 and 27,612,597, respectively. Par value of these shares for these same dates was $0.03 million.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Equity Incentive Plan (the “Plan”) was approved at the May 28, 2020 Annual Meeting of Stockholders. Under this plan, 275,000 shares of the Company’s Common Stock are reserved for issuance, as administered by the Company’s Compensation Committee. Awards may be granted to employees, consultants, or directors of the Company or any parent or subsidiary of the Company; provided that incentive stock options may be granted only to employees. If an award made under the Plan expires, if it is terminated, surrendered, cancelled, or otherwise becomes unexercisable, or if an award is forfeited in whole or in part or is forfeited due to failure to vest, then the unpurchased shares under such award will become available for future grant under the Plan. The Plan allows for different types of awards to be granted. Stock options awarded under the Plan must be at least equal to the fair market value of a share of our Common Stock on the date of the grant. Any option period will not exceed 10 years, except with respect to any participant who owns more than 10% of the voting power of all classes of stock of the Company. Restricted stock, Restricted Stock Units (“RSUs”), Performance Units and Performance Shares, and Other Share-based Awards may be granted at the discretion of the Compensation Committee according to terms and conditions set by the Compensation Committee, subject to the provisions of the Plan. The only activity under the Plan relates to RSUs. RSU activity for the year ended December 31, 2022 is summarized as follows: Number of Restricted Stock Units Weighted Average Grant Value Per Share Outstanding at December 31, 2021 17,520 $ 84.19 Granted 36,639 64.91 Vested (3,467) 84.19 Forfeited or canceled (6,125) 74.80 Outstanding at December 31, 2022 44,567 $ 69.63 During the year ended December 31, 2022, we recorded compensation expense of $0.5 million related to RSUs issued under the Plan.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS ASC 820 prioritizes the inputs to valuation techniques used to measure fair value into the following hierarchy: Level 1 – Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 – Inputs other than the quoted prices in active markets that are observable either directly or indirectly, including: quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data. Level 3 – Unobservable inputs that are supported by little or no market data and require the reporting entity to develop its own assumptions. Financial instruments include cash and cash equivalents, accounts receivable, accounts payable, our line of credit, and long-term debt. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, our line of credit, and short-term borrowings approximate fair value because of the near-term maturities of these financial instruments. The carrying value of the Company’s notes payable approximates fair value due to the relatively short-term nature and interest rates of the notes. The carrying value of the Company's long-term debt approximates fair value due to the interest rates being market rates. The estimated fair value of debt is based on market quotes for instruments with similar terms and remaining maturities. The Company has contingent liabilities related to future internal performance milestones. The fair value of these liabilities was determined using a Monte Carlo Simulation based on the probability and timing of certain future payments under these arrangements. These liabilities are accounted for as Level 3 liabilities within the fair value hierarchy. Level 3 liabilities measured at December 31, 2022 and 2021 at fair value on a recurring basis are as follows (in thousands): 2022 2021 Level 3: Contingent Liabilities $ 955 $ 2,665 Reductions in the fair value of level 3 contingent liabilities are reflected on the Consolidated Balance Sheets in revised purchase price allocations made upon the finalization of 2021 acquisitions and in general and administrative expenses in the Consolidated Statements of Income for the years ended December 31, 2022 and 2021.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income before income taxes on which the provision for income taxes was computed is as follows (in thousands): 2022 2021 2020 Domestic $ 48,574 $ 35,647 $ 20,547 International $ 3,391 $ 3,793 $ 2,258 Income before income taxes $ 51,965 $ 39,440 $ 22,805 The provision for income taxes differs from the US federal statutory rate as follows: 2022 2021 2020 Income before income taxes $ 51,965 $ 39,440 $ 22,805 Statutory rate 21 % 21 % 21 % $ 10,913 $ 8,282 $ 4,789 State taxes net of federal benefit $ 862 $ 649 $ 295 Nondeductible/nontaxable items $ 53 $ 101 $ 49 Tax Impact of foreign operations $ 230 $ 171 $ 102 Foreign derived intangible income benefit $ (1,114) $ (970) $ (703) Other - net $ (360) $ (360) $ (9) Income tax expense $ 10,584 $ 7,873 $ 4,523 The foreign tax rate differential reflects the impact of the differences in our various international tax rates and our US statutory rate. The components of the income tax provision (benefit) are as follows (in thousands): Years ended December 31 2022 2021 2020 Current income tax expense Federal $ 9,006 $ 5,051 $ 3,573 Foreign $ 1,025 $ 1,158 $ 816 State $ 1,036 $ 664 $ 407 Total current income tax expense $ 11,067 $ 6,873 $ 4,796 Deferred income tax expense/(benefit) Federal $ (196) $ 968 $ (234) Foreign $ (249) $ 3 $ 14 State $ (38) $ 29 $ (53) Total deferred income tax expense/(benefit) $ (483) $ 1,000 $ (273) Total $ 10,584 $ 7,873 $ 4,523 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred income taxes are as follows (in thousands): Years ended December 31 2022 2021 Deferred Tax Assets Allowance for Doubtful Accounts $ 26 $ 49 263(A) Adjustment 190 122 Accrued Expenses 526 601 Inventory Reserve 152 26 Unrealized loss 21 57 State Tax Credit 174 152 NOL Carryforward and Other 232 295 Stock Compensation 73 38 Capitalized Acquisition Costs 65 61 Capitalized Research and Development 898 — Right of Use Lease Liability 3,154 2,484 Less Valuation Allowance (83) (81) Total deferred tax assets $ 5,428 $ 3,804 Deferred Tax Liabilities Fixed and Intangible Assets $ 4,465 $ 4,039 Unrealized Gain 15 15 Accretion — 1 Right of Use Lease Asset 2,997 2,497 Total deferred tax liabilities 7,477 6,552 Total net deferred tax liabilities $ (2,049) $ (2,748) In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company regularly assesses the likelihood that the deferred tax assets will be recovered from future taxable income. The Company considers projected future taxable income, the reversal of taxable temporary differences, and ongoing tax planning strategies, then records a valuation allowance, if deemed necessary, to reduce the carrying value of the net deferred taxes to an amount that is more likely than not able to be realized. Based upon the Company’s assessment of all available evidence, including the previous two years of taxable income and loss after permanent items, estimates of future profitability, and the Company’s overall prospects of future business, the Company determined that it is more likely than not that the Company will realize all of its deferred tax assets in the future, with the exception of an immaterial valuation allowance recorded against net operating losses and intangibles in foreign jurisdictions. The Company will continue to assess the potential realization of deferred tax assets on an annual basis, or an interim basis if circumstances warrant. If the Company’s actual results and updated projections vary significantly from the projections used as basis for this determination, the Company may need to change the valuation allowance against the gross deferred tax assets. The Company has net operating losses in certain of its foreign subsidiaries of $1.0 million available to apply against future taxable income. Losses of $0.8 million have no expiration date. The Company has recorded a valuation allowance based on the lack of positive available evidence of realizability of acquired net operating losses of $0.3 million. The Company has state tax credits of $0.2 million available to apply against future taxable income. These credits begin to expire in the year 2039. Reconciliation of Unrecognized Tax Benefits from Uncertain Tax Positions (in thousands) Years Ended December 31, 2022 2021 2020 Beginning unrecognized tax benefits $ 129 $ 129 $ — Increase related tax positions of prior years $ 15 $ — $ 129 Ending unrecognized tax benefits $ 144 $ 129 $ 129 The Company recognizes the tax effects of an uncertain tax position only if it is more likely than not to be sustained based solely upon its technical merits at the reporting date. The unrecognized tax benefit is the difference between the tax benefit recognized and the tax benefit claimed on the Company’s income tax return. The Company has an unrecognized tax benefit as of the year ended December 31, 2022 in the amount of $0.2 million related to an uncertain tax position in one of its foreign jurisdictions. This amount includes an estimate for interest and penalties and are included in income tax expense. The liability is reflected in other long-term liabilities on the Company’s balance sheet. The Company expects a reduction of the position in 2023 related to expiring statutes. The unrecognized tax benefits in the table above includes $0.1 million as of December 31, 2022, that, if recognized, would have impacted income tax expense. The Company believes that all material tax positions in the current and prior years have been analyzed and properly accounted for and that the risk of additional material uncertain tax positions that have not been identified is remote. The Compan y plans to indefinitely reinvest foreign earnings and does not expect to repatriate earnings for the foreseeable future. Determination of the amount of unrecognized deferred tax liabilities related to investment in these foreign subsidiaries is not practicable. The Company is subject to income taxes in the U.S. federal jurisdiction, and various states and foreign jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company is still subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for the years 2015 and after. There are no ongoing or pending IRS, state or foreign examinations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES CONTINGENCIES In the ordinary course of business activities, the Company may be contingently liable for litigation and claims with customers, suppliers and former employees. Management believes that adequate provisions have been recorded in the accounts where required. Management also has determined that the likelihood of any litigation and claims having a material impact on our results of operations, cash flows or financial position is remote. See Note 13, Fair Value Measurements, of the Notes to our Consolidated Financial Statements for further information related to contingent liabilities.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	LEASES We lease space under non-cancelable operating leases for office space, warehouse facilities, and installation locations. We also lease vehicles and equipment to support our global operations. We have not elected the practical expedient to combine lease and non-lease components. We have also elected to adopt the package of practical expedients that allow us not to reassess whether expired leases are or contain leases, not to reassess the lease classification of existing leases, and not to reassess initial direct costs for existing leases. Some of our leases contain options to renew. The exercise of lease renewals is at our sole discretion; therefore, the renewals to extend the lease terms are not included in our right-of-use assets as it is not reasonably certain that they will be exercised. We regularly evaluate the renewal options and, when they are reasonably certain of exercise, we include the renewal period in our lease term. We use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. In determining our incremental borrowing rate for each lease, we use a rate for collateralized borrowings with a term similar to the life of the lease. We have a centrally managed treasury function; therefore, based on the applicable lease terms and the current economic environment, we apply a portfolio approach for determining the incremental borrowing rate. Balance sheet information related to operating leases is as follows: December 31, 2022 December 31, 2021 Operating lease right-of-use assets $ 15,309 $ 12,910 Current portion of operating lease liabilities 3,885 2,978 Noncurrent portion of operating lease liabilities 12,119 9,830 Total operating lease liabilities $ 16,004 $ 12,808 We had operating lease expense of $4.2 million, $2.7 million, and $1.5 million, respectively, for the years ended December 31, 2022, 2021, and 2020. For the year ended December 31, 2022, short-term lease expenses, cash payments on leases, and variable expenses were $0.6 million, $3.5 million, and $0.4 million, respectively. For the year ended December 31, 2021, short-term lease expense, cash payments on leases, and variable lease expenses were $0.5 million, $2.7 million, and $0.3 million, respectively. We have elected not to apply balance sheet recognition to short-term leases. Weighted-average information associated with the measurement of our remaining operating lease obligations is as follows: December 31, 2022 December 31, 2021 Weighted-average remaining lease term (in years) 5.3 5.1 Weighted-average discount rate 5.0 % 4.7 % The following table summarizes the maturity of our operating lease liabilities as of December 31, 2022: 2023 $ 4,060 2024 3,596 2025 3,012 2026 2,762 2027 2,022 Thereafter 3,462 Total operating lease payments 18,914 Less: interest (2,910) Total operating lease liabilities $ 16,004

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHAREWe compute basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes effect of granted incremental restricted stock units. The following table reconciles basic and diluted weighted average shares used in the computation of earnings per share (in thousands except per share values): Fiscal Year Ended December 31, Numerator 2022 2021 2020 Net income $ 41,381 $ 31,567 $ 18,282 Denominator Weighted average basic shares 27,614 27,613 27,613 Dilutive effect of restricted stock units 2 — — Weighted average diluted shares 27,616 27,613 27,613 Earnings per share Basic $ 1.50 $ 1.14 $ 0.66 Diluted $ 1.50 $ 1.14 $ 0.66

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation - The consolidated financial statements are prepared in conformity with GAAP and include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated. The functional currency for the Company is the United States dollar. The assets and liabilities of each of its wholly-owned foreign subsidiaries are translated into U.S dollars using the exchange rate at the end of the balance sheet date. Revenues and expenses are translated at the average exchange rates for the period. Gains and losses from translations are recognized in foreign currency translation included in accumulated other comprehensive loss in the accompanying consolidated balance sheets.
Segment Reporting	Segment Reporting - Management has concluded that our chief operating decision maker (“CODM”) is our chief executive officer. The Company’s CODM reviews the entire organization’s consolidated results as a whole on a monthly basis to evaluate performance and make resource allocation decisions. Management views the Company’s operations and manages its business as one operating segment.
Use of Estimates	Use of Estimates - The preparation of these consolidated financial statements in conformity to U.S. Generally Accepted Accounting Principles (“GAAP”) requires management to make judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and underlying assumptions are reviewed on an ongoing basis. Actual outcomes may differ from these estimates under different assumptions and conditions.
Foreign Currency Translation	Foreign Currency Translation - The U.S. dollar is the functional currency of our domestic operations located in the United States. The financial statements of subsidiaries located outside of the U.S. are generally measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average monthly rates of exchange. The resultant translation adjustments are included in accumulated other comprehensive income, a separate component of stockholders’ equity.
Cash and Cash Equivalents	Cash and Cash Equivalents - Cash and cash equivalents consist of cash and highly liquid investments with an original maturity of three months or less at the date of purchase. The balance, at times, may exceed federally insured limits.
Accounts Receivable	Accounts ReceivableThe Company evaluates the adequacy of its allowances by analyzing the aging of receivables, customer financial condition, historical collection experience, the value of any collateral and other economic and industry factors. Actual collections may differ from historical experience, and if economic, business or customer conditions deteriorate significantly, adjustments to these reserves may be required. When the Company becomes aware of factors that indicate a change in a specific customer’s ability to meet its financial obligations, the Company records a specific reserve for credit losses. At December 31, 2022 and 2021, there were no significant accounts receivable concentrations.
Inventory	Inventory - Inventories of all operating subsidiaries are comprised of raw materials, film, film installation support products, and supplies which are valued at lower of cost or net realizable value, with cost determined on a weighted average cost basis. Inventory costs include those costs directly
Property, Plant and Equipment	Property, Plant and Equipment - Property and equipment are recorded at cost, with the exception of property and equipment acquired in connection with the Company’s acquisitions, which are recorded at fair value on the date of acquisition. Expenditures which improve or extend the life of the respective definite-lived assets are capitalized, whereas expenditures for normal repairs and maintenance are charged to operations as incurred.
Goodwill	Goodwill -  Goodwill represents the excess purchase price over the fair value of tangible net assets acquired in acquisitions after amounts have been allocated to intangible assets. Goodwill is tested for impairment at the reporting unit level on an annual basis (at December 31) and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value.
Intangible Assets	Intangible Assets - Intangible assets consist primarily of software, customer relationships, trademarks and non-compete agreements. These assets are amortized on a straight-line basis over the period of time in which their expected benefits will be realized.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets - The Company reviews and evaluates long-lived assets for impairment when events or circumstances indicate that the carrying amount of an asset may not be recoverable. When the undiscounted expected future cash flows are not sufficient to recover an asset’s carrying amount, the fair value is compared to the carrying value to determine the impairment loss to be recorded. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value, less the cost to sell. Fair values are determined by independent appraisals or expected sales prices based upon market participant data developed by third party professionals or by internal licensed real estate professionals. Estimates of future cash flows and expected sales prices are judgments based upon the Company’s experience and knowledge of operations. These estimates project cash flows several years into the future and are affected by changes in the economy, real estate market conditions and inflation.
Other Long-Term Liabilities and Acquisitions of Businesses	Other Long-Term Liabilities - Acquisitions of Businesses - Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the fair value of the consideration transferred including the recognized amount of any non-controlling interest in the acquiree, over the fair value of the Company’s share of the identifiable net assets acquired is recorded as goodwill. Acquisition-
Revenue Recognition	Revenue Recognition - Our revenue is comprised primarily of product and services sales where we act as principal to the transaction. All revenue is recognized when the Company satisfies its performance obligation(s) by transferring control/final benefit from the promised product or service to our customer. Due to the nature of our sales contracts, the majority of our revenue is recognized at a point in time. A performance obligation is a contractual promise to transfer a distinct product or service to a customer. A contract’s transaction price is allocated to each distinct performance obligation. Revenue is recorded net of returns and allowances. Sales, value add, and other taxes collected from customers and remitted to governmental authorities are accounted for on a net (excluded from revenues) basis. Shipping and handling costs are accounted for as a fulfillment obligation, on a net basis, and are included in cost of sales. Revenue recognition The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised goods and services to a customer, in an amount that reflects the consideration that it expects to receive in exchange for those goods or services. This is achieved through applying the following five-step model: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, the Company satisfies a performance obligation. The Company generates substantially all of its revenue from contracts with customers, whether formal or implied. Sales taxes collected from customers are remitted to the appropriate taxing jurisdictions and are excluded from sales revenue as the Company considers itself a pass-through conduit for collecting and remitting sales taxes, with the exception of taxes assessed during the procurement process of select inventories. Shipping and handling costs are included in cost of sales. Revenue from product and services sales are recognized when control of the goods is transferred to the customer which occurs at a point in time typically upon shipment to the customer or completion of the service. This standard applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Based upon the nature of the products the Company sells, its customers have limited rights of return which are immaterial. Discounts provided by the Company to customers at the time of sale are recognized as a reduction in sales as the products are sold. Warranty obligations associated with the sale of our products are assurance-type warranties that are a guarantee of the product’s intended functionality and, therefore, do not represent a distinct performance obligation within the context of the contract. Warranty expense is included in cost of sales. We apply a practical expedient to expense direct costs of obtaining a contract when incurred because the amortization period would have been one year or less. Under its contracts with customers, the Company stands ready to deliver product upon receipt of a purchase order. Accordingly, the Company has no performance obligations under its contracts until its customers submit a purchase order. The Company does not enter into commitments to provide goods or services that have terms greater than one year. In limited cases, the Company does require payment in advance of shipping product. Typically, product is shipped within a few days after prepayment is received. These prepayments are recorded as contract liabilities on the consolidated balance sheet and are included in accounts payable and accrued liabilities. See Note 10 of the Notes to our Consolidated Financial Statements for further information. As the performance obligation is part of a contract that has an original expected duration of less than one year, the Company has applied the practical expedient to omit disclosures regarding remaining performance obligations.
Research and Development	Research and Development - Research costs are charged to operations when incurred. Software development costs, including costs associated with developing software patterns, are expensed as
Advertising Costs	Advertising costs - Advertising costs are charged to operations when incurred.
Provisions and Warranties	Provisions and Warranties - We provide warranties on our products. Liability under the warranty policy is based on a review of historical warranty claims. Adjustments are made to the accruals as claims data experience warrant.
Income Taxes	Income Taxes - Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Such deferred income tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred and other tax assets and liabilities. The Company accounts for the tax impact of including Global Intangible Low-Taxed Income (“GILTI”) in U.S. taxable income as a period cost.
Stock-Based Compensation	Stock-Based Compensation - We measure stock-based compensation cost at the grant date based on the fair value of the award. Compensation expense is recognized over the period during which the recipient provides service in exchange for the awards. Excess income tax benefits related to share-based compensation expense are recognized as income tax expense or benefit in the Consolidated Statements of Income. We account for forfeitures as they occur, rather than estimate expected forfeitures.
Accumulated Other Comprehensive Income (Loss) (AOCI)	Accumulated Other Comprehensive Income (Loss) (“AOCI”) - The Company reports comprehensive income (loss) that includes net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to expenses, gains and losses that are not included in net earnings. These amounts are also presented in the Consolidated Statements of Comprehensive Income. As of December 31, 2022 and 2021,
Earnings Per Share	Earnings Per Share - Basic earnings per share is calculated by dividing net income for the year attributable to common stockholders by the weighted average number of common shares outstanding during the year. Diluted earnings per share is calculated by dividing the net income attributable to common stockholders by the weighted average number of shares outstanding during the period plus the weighted average number of shares that would be issued on the conversion of all the dilutive potential ordinary shares into common shares.
Fair Value Measurements	Fair Value Measurements - Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date: Level 1: Valuation is based on observable inputs such as quoted market prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Valuation is based on inputs such as quoted market prices for similar assets or liabilities in active markets or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3: Valuation is based upon other unobservable inputs that are significant to the fair value measurement. ASC 820 prioritizes the inputs to valuation techniques used to measure fair value into the following hierarchy: Level 1 – Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 – Inputs other than the quoted prices in active markets that are observable either directly or indirectly, including: quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data. Level 3 – Unobservable inputs that are supported by little or no market data and require the reporting entity to develop its own assumptions. Financial instruments include cash and cash equivalents, accounts receivable, accounts payable, our line of credit, and long-term debt. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, our line of credit, and short-term borrowings approximate fair value because of the near-term maturities of these financial instruments. The carrying value of the Company’s notes payable approximates fair value due to the relatively short-term nature and interest rates of the notes. The carrying value of the Company's long-term debt approximates fair value due to the interest rates being market rates. The estimated fair value of debt is based on market quotes for instruments with similar terms and remaining maturities. The Company has contingent liabilities related to future internal performance milestones. The fair value of these liabilities was determined using a Monte Carlo Simulation based on the probability and timing of certain future payments under these arrangements. These liabilities are accounted for as Level 3 liabilities within the fair value hierarchy.
Recent Accounting Pronouncements Issued and Not Yet Adopted	Recent Accounting Pronouncements Issued and Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments — Measurement of Credit Losses on Financial Instruments”, which requires measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 is effective for the Company beginning January 1, 2023 and is required to be applied prospectively. We are currently evaluating the impact that ASU 2016-13 will have on our consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedules of Property, Plant and Equipment	Depreciation expense is computed using the straight-line method as follows: Furniture and fixtures 5 years Computer equipment 3-4 years Vehicles 5 years Equipment 5-8 years Leasehold improvements shorter of lease term or estimated useful life Plotters 4 years The following table presents geographic property, plant and equipment, net of accumulated depreciation, by region as of December 31 (in thousands): 2022 2021 United States $ 12,511 $ 7,890 Canada 469 656 Europe 1,093 1,118 Other 130 234 Consolidated $ 14,203 $ 9,898 Property and equipment consists of the following (in thousands): December 31, 2022 December 31, 2021 Furniture and fixtures $ 2,667 $ 2,147 Computer equipment $ 3,455 $ 2,201 Vehicles $ 838 $ 822 Equipment $ 4,728 $ 3,571 Leasehold improvements $ 7,081 $ 5,138 Plotters $ 2,980 $ 2,133 Construction in Progress $ 1,745 $ 117 Total property and equipment $ 23,494 $ 16,129 Less: accumulated depreciation $ 9,291 $ 6,231 Property and equipment, net $ 14,203 $ 9,898
Schedule of Goodwill	The following table presents geographic goodwill by region as of December 31 (in thousands): 2022 2021 United States $ 17,699 $ 16,348 Canada 5,108 5,874 Europe 2,923 3,429 Other 1,033 4 Consolidated $ 26,763 $ 25,655 The following table summarizes changes in the carrying amounts of goodwill for the years ended December 31, 2022 and 2021 (in thousands): Balance at December 31, 2020 $ 4,472 Additions $ 21,284 Foreign currency translation $ (101) Balance at December 31, 2021 $ 25,655 Balance at December 31, 2021 $ 25,655 Additions and purchase price allocation adjustments $ 1,826 Foreign currency translation $ (718) Balance at December 31, 2022 $ 26,763
Schedules of Intangible Assets	The following table presents geographic intangible assets, net by region as of December 31 (in thousands): 2022 2021 United States $ 23,749 $ 25,910 Canada 3,127 3,360 Europe 1,685 3,278 Other 733 185 Consolidated $ 29,294 $ 32,733 The following table presents the anticipated useful lives of intangible assets: Trademarks 10 years Software 5 years Trade name 10-15 years Contractual and customer relationships 9-10 years Non-compete 3-5 years Other 2-10 years Intangible assets consists of the following (in thousands): December 31, 2022 December 31, 2021 Trademarks $ 686 $ 500 Software $ 4,822 $ 3,431 Trade name $ 1,451 $ 2,579 Contractual and customer relationships $ 31,871 $ 31,326 Non-compete $ 440 $ 459 Other $ 497 $ 693 Total at cost $ 39,767 $ 38,988 Less: Accumulated amortization $ 10,473 $ 6,255 Intangible assets, net $ 29,294 $ 32,733
Schedule of Product Warranty Liability	The following table presents a summary of our warranty liabilities as of December 31, 2022 and 2021 (in thousands): 2022 2021 Warranty balance at beginning of period $ 75 $ 52 Warranties assumed in period 624 398 Payments (465) (375) Warranty balance at end of period $ 234 $ 75

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Transactions Within Contract Liabilities	The following table summarizes transactions included within contract liabilities for the years ended December 31, 2022, 2021 and 2020, respectively (in thousands): Balance, December 31, 2020 $ 245 Revenue recognized related to payments included in the December 31, 2020 balance (199) Balance, Payments received for which performance obligations have not been satisfied 773 Effect of Foreign Currency Translation (1) Balance, December 31, 2021 $ 818 Revenue recognized related to payments included in the December 31, 2021 balance (768) Payments received for which performance obligations have not been satisfied 206 Effect of Foreign Currency Translation 5 Balance, December 31, 2022 $ 261
Schedule of Disaggregation of Revenue	The table below sets forth the disaggregation of revenue by product category for the years ended December 31, 2022, 2021, and 2020 (in thousands): 2022 2021 2020 Product Revenue Paint protection film $ 192,374 $ 169,880 $ 110,786 Window film 54,370 38,363 20,951 Other 11,430 9,040 4,525 Total 258,174 217,283 136,262 Service Revenue Software $ 5,213 $ 4,373 $ 3,489 Cutbank credits 16,317 12,372 7,785 Installation labor 42,828 24,253 10,925 Training and other 1,461 982 463 Total 65,819 41,980 22,662 Total $ 323,993 $ 259,263 $ 158,924

ACQUISITION OF BUSINESSES (Tabl

ACQUISITION OF BUSINESSES (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Completed Acquisitions	The Company completed the following acquisitions during the years ended December 31, 2022, 2021 and 2020 (dollars in thousands): Acquisition Date Name/Location/Description Purchase Price Acquisition Type Acquisition Purpose October 1, 2022 Paint Protection Film portion of Car Care Products Australia, Australia, Paint protection film distributor $ 2,178 Asset Purchase Local market expansion November 1, 2021 invisiFRAME, Ltd, Shrewsbury, Shropshire, United Kingdom, bicycle paint protection film pattern designer and retailer $ 7,390 Share Purchase Market Expansion October 1, 2021 Tintnet, Inc. and 1 One Armor, Inc., Scottsdale, Arizona, United States, window and paint protection film distribution and installation $ 13,000 Share Purchase Market Expansion October 1, 2021 6873391 Canada Ltd. o/a Shadow Shield, 1716808 Alberta Ltd. o/a Shadow Tint, and North 1 Technologies, Calgary, Alberta, Canada, window and paint protection film distribution, installation provider and pattern developer $ 7,178 Share Purchase Local market expansion May 25, 2021 PermaPlate Film LLC, Salt Lake City, Utah, United States, Window film distribution and installation business $ 30,000 Membership Interest Purchase Market Expansion December 31, 2020 Veloce Innovation, Houston, Texas, United States, Window film installation business $ 1,441 Asset Purchase Local market expansion October 30, 2020 France Auto Racing, Dijon, France, Paint protection film distributor $ 329 Asset Purchase Local market expansion February 1, 2020 Protex Centre, Laval, Quebec, Canada - Paint protection installation shop $ 2,475 Share Purchase Local market expansion
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The total purchase price for acquisitions completed during the years ended December 31, 2022, 2021 and 2020 are as follows (in thousands): December 31, 2022 Acquisitions 2021 Acquisitions 2020 Acquisitions Purchase Price Cash 1 $ 1,876 $ 54,991 $ 2,811 Promissory note — — 893 Contingent consideration — 2,576 541 Cancellation of receivable balance 302 — — $ 2,178 $ 57,567 $ 4,245 Allocation Cash $ — $ 3,789 $ 243 Accounts receivable — 3,250 207 Inventory 595 2,895 182 Prepaid expenses and other assets — 73 4 Other long-term assets — 7 6 Property and equipment — 440 162 Right-of-use lease assets — — 588 Software — — 1 Trade name — 2,121 — Acquired patterns — 488 — Customer relationships 612 26,329 1,896 Non-compete — — 179 Goodwill 971 21,284 1,939 Current portion of lease liabilities — — (73) Accounts payable and accrued liabilities — (1,982) (157) Non-current portion of lease liabilities — — (514) Assumed debt — — (109) Deferred tax liability — (1,127) (274) Taxes payable $ — $ — $ (35) $ 2,178 $ 57,567 $ 4,245 1 Total cash consideration is comprised of amounts paid on closing dates plus holdback amounts to be paid in the future.
Business Acquisition, Pro Forma Information	The following unaudited pro forma financial information presents our results, including the estimated expenses relating to the amortization of intangibles purchased, as if the acquisition during the year ended December 31, 2022 had occurred on January 1, 2022 and 2021 (in thousands): Twelve Months Ended December 31, 2022 (Unaudited) 2021 (Unaudited) Revenue $ 325,807 $ 261,367 Net income $ 41,710 $ 31,854

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedules of Property, Plant and Equipment	Depreciation expense is computed using the straight-line method as follows: Furniture and fixtures 5 years Computer equipment 3-4 years Vehicles 5 years Equipment 5-8 years Leasehold improvements shorter of lease term or estimated useful life Plotters 4 years The following table presents geographic property, plant and equipment, net of accumulated depreciation, by region as of December 31 (in thousands): 2022 2021 United States $ 12,511 $ 7,890 Canada 469 656 Europe 1,093 1,118 Other 130 234 Consolidated $ 14,203 $ 9,898 Property and equipment consists of the following (in thousands): December 31, 2022 December 31, 2021 Furniture and fixtures $ 2,667 $ 2,147 Computer equipment $ 3,455 $ 2,201 Vehicles $ 838 $ 822 Equipment $ 4,728 $ 3,571 Leasehold improvements $ 7,081 $ 5,138 Plotters $ 2,980 $ 2,133 Construction in Progress $ 1,745 $ 117 Total property and equipment $ 23,494 $ 16,129 Less: accumulated depreciation $ 9,291 $ 6,231 Property and equipment, net $ 14,203 $ 9,898

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedules of Intangible Assets	The following table presents geographic intangible assets, net by region as of December 31 (in thousands): 2022 2021 United States $ 23,749 $ 25,910 Canada 3,127 3,360 Europe 1,685 3,278 Other 733 185 Consolidated $ 29,294 $ 32,733 The following table presents the anticipated useful lives of intangible assets: Trademarks 10 years Software 5 years Trade name 10-15 years Contractual and customer relationships 9-10 years Non-compete 3-5 years Other 2-10 years Intangible assets consists of the following (in thousands): December 31, 2022 December 31, 2021 Trademarks $ 686 $ 500 Software $ 4,822 $ 3,431 Trade name $ 1,451 $ 2,579 Contractual and customer relationships $ 31,871 $ 31,326 Non-compete $ 440 $ 459 Other $ 497 $ 693 Total at cost $ 39,767 $ 38,988 Less: Accumulated amortization $ 10,473 $ 6,255 Intangible assets, net $ 29,294 $ 32,733
Schedule of Future Amortization Expense of Finite-Lived Intangible Assets	Based on the carrying value of definite-lived intangible assets as of December 31, 2022, we estimate our future amortization expense will be as follows (in thousands): 2023 $ 4,561 2024 $ 4,321 2025 $ 4,068 2026 $ 3,990 2027 $ 3,616 Thereafter $ 8,738

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table presents geographic goodwill by region as of December 31 (in thousands): 2022 2021 United States $ 17,699 $ 16,348 Canada 5,108 5,874 Europe 2,923 3,429 Other 1,033 4 Consolidated $ 26,763 $ 25,655 The following table summarizes changes in the carrying amounts of goodwill for the years ended December 31, 2022 and 2021 (in thousands): Balance at December 31, 2020 $ 4,472 Additions $ 21,284 Foreign currency translation $ (101) Balance at December 31, 2021 $ 25,655 Balance at December 31, 2021 $ 25,655 Additions and purchase price allocation adjustments $ 1,826 Foreign currency translation $ (718) Balance at December 31, 2022 $ 26,763

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventory, net of reserves, are summarized as follows (in thousands): December 31, 2022 December 31, 2021 Raw materials $ 10,416 $ 2,698 Work in process 6,756 180 Finished goods 63,403 49,058 $ 80,575 $ 51,936

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Notes Payable	Notes payable are summarized as follows (in thousands): Weighted Average Interest Rate Matures December 31, 2022 December 31, 2021 Face value of acquisition notes payable 2.61% 2023 $ 77 $ 458 Total face value of notes payable $ 77 $ 458 Unamortized discount $ — $ (7) Current portion $ (77) $ (375) Total long-term debt $ — $ 76

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	The following table presents significant accounts payable and accrued liability balances as of the periods ending: December 31, 2022 December 31, 2021 Trade payables $ 16,689 $ 25,175 Payroll liabilities 3,596 3,386 Contract liabilities 261 818 Acquisition holdback payments 191 2,007 Other liabilities 2,233 1,529 $ 22,970 $ 32,915

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Unit Activity	RSU activity for the year ended December 31, 2022 is summarized as follows: Number of Restricted Stock Units Weighted Average Grant Value Per Share Outstanding at December 31, 2021 17,520 $ 84.19 Granted 36,639 64.91 Vested (3,467) 84.19 Forfeited or canceled (6,125) 74.80 Outstanding at December 31, 2022 44,567 $ 69.63

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	Level 3 liabilities measured at December 31, 2022 and 2021 at fair value on a recurring basis are as follows (in thousands): 2022 2021 Level 3: Contingent Liabilities $ 955 $ 2,665

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax	Income before income taxes on which the provision for income taxes was computed is as follows (in thousands): 2022 2021 2020 Domestic $ 48,574 $ 35,647 $ 20,547 International $ 3,391 $ 3,793 $ 2,258 Income before income taxes $ 51,965 $ 39,440 $ 22,805
Schedule of Effective Income Tax Rate Reconciliation	The provision for income taxes differs from the US federal statutory rate as follows: 2022 2021 2020 Income before income taxes $ 51,965 $ 39,440 $ 22,805 Statutory rate 21 % 21 % 21 % $ 10,913 $ 8,282 $ 4,789 State taxes net of federal benefit $ 862 $ 649 $ 295 Nondeductible/nontaxable items $ 53 $ 101 $ 49 Tax Impact of foreign operations $ 230 $ 171 $ 102 Foreign derived intangible income benefit $ (1,114) $ (970) $ (703) Other - net $ (360) $ (360) $ (9) Income tax expense $ 10,584 $ 7,873 $ 4,523
Schedule of Components of Income Tax Expense (Benefit)	The components of the income tax provision (benefit) are as follows (in thousands): Years ended December 31 2022 2021 2020 Current income tax expense Federal $ 9,006 $ 5,051 $ 3,573 Foreign $ 1,025 $ 1,158 $ 816 State $ 1,036 $ 664 $ 407 Total current income tax expense $ 11,067 $ 6,873 $ 4,796 Deferred income tax expense/(benefit) Federal $ (196) $ 968 $ (234) Foreign $ (249) $ 3 $ 14 State $ (38) $ 29 $ (53) Total deferred income tax expense/(benefit) $ (483) $ 1,000 $ (273) Total $ 10,584 $ 7,873 $ 4,523
Schedule of Deferred Tax Assets (Liabilities)	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred income taxes are as follows (in thousands): Years ended December 31 2022 2021 Deferred Tax Assets Allowance for Doubtful Accounts $ 26 $ 49 263(A) Adjustment 190 122 Accrued Expenses 526 601 Inventory Reserve 152 26 Unrealized loss 21 57 State Tax Credit 174 152 NOL Carryforward and Other 232 295 Stock Compensation 73 38 Capitalized Acquisition Costs 65 61 Capitalized Research and Development 898 — Right of Use Lease Liability 3,154 2,484 Less Valuation Allowance (83) (81) Total deferred tax assets $ 5,428 $ 3,804 Deferred Tax Liabilities Fixed and Intangible Assets $ 4,465 $ 4,039 Unrealized Gain 15 15 Accretion — 1 Right of Use Lease Asset 2,997 2,497 Total deferred tax liabilities 7,477 6,552 Total net deferred tax liabilities $ (2,049) $ (2,748)
Schedule of Unrecognized Tax Benefits Roll Forward	Reconciliation of Unrecognized Tax Benefits from Uncertain Tax Positions (in thousands) Years Ended December 31, 2022 2021 2020 Beginning unrecognized tax benefits $ 129 $ 129 $ — Increase related tax positions of prior years $ 15 $ — $ 129 Ending unrecognized tax benefits $ 144 $ 129 $ 129

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Balance Sheet Information Related To Leases	Balance sheet information related to operating leases is as follows: December 31, 2022 December 31, 2021 Operating lease right-of-use assets $ 15,309 $ 12,910 Current portion of operating lease liabilities 3,885 2,978 Noncurrent portion of operating lease liabilities 12,119 9,830 Total operating lease liabilities $ 16,004 $ 12,808
Schedule of Weighted Average Remaining Lease Term and Discount Rate Information	Weighted-average information associated with the measurement of our remaining operating lease obligations is as follows: December 31, 2022 December 31, 2021 Weighted-average remaining lease term (in years) 5.3 5.1 Weighted-average discount rate 5.0 % 4.7 %
Schedule of Maturities of Operating Lease Liabilities	The following table summarizes the maturity of our operating lease liabilities as of December 31, 2022: 2023 $ 4,060 2024 3,596 2025 3,012 2026 2,762 2027 2,022 Thereafter 3,462 Total operating lease payments 18,914 Less: interest (2,910) Total operating lease liabilities $ 16,004

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles basic and diluted weighted average shares used in the computation of earnings per share (in thousands except per share values): Fiscal Year Ended December 31, Numerator 2022 2021 2020 Net income $ 41,381 $ 31,567 $ 18,282 Denominator Weighted average basic shares 27,614 27,613 27,613 Dilutive effect of restricted stock units 2 — — Weighted average diluted shares 27,616 27,613 27,613 Earnings per share Basic $ 1.50 $ 1.14 $ 0.66 Diluted $ 1.50 $ 1.14 $ 0.66

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2022 segment
Accounting Policies [Abstract]
Number of operating segments	1

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 0.2	$ 0.3

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Inventory reserves	$ 0.7	$ 0.1

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 14,203	$ 9,898
United States
Property, Plant and Equipment [Line Items]
Property and equipment, net	12,511	7,890
Canada
Property, Plant and Equipment [Line Items]
Property and equipment, net	469	656
Europe
Property, Plant and Equipment [Line Items]
Property and equipment, net	1,093	1,118
Other
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 130	$ 234
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life (in years)	5 years
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life (in years)	5 years
Plotters
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life (in years)	4 years
Minimum | Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life (in years)	3 years
Minimum | Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life (in years)	5 years
Maximum | Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life (in years)	4 years
Maximum | Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life (in years)	8 years

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES - Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 26,763	$ 25,655	$ 4,472
United States
Goodwill [Line Items]
Goodwill	17,699	16,348
Canada
Goodwill [Line Items]
Goodwill	5,108	5,874
Europe
Goodwill [Line Items]
Goodwill	2,923	3,429
Other
Goodwill [Line Items]
Goodwill	$ 1,033	$ 4

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 29,294	$ 32,733
United States
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	23,749	25,910
Canada
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	3,127	3,360
Europe
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	1,685	3,278
Other
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 733	$ 185
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	10 years
Software
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	5 years
Minimum | Trade name
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	10 years
Minimum | Contractual and customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	9 years
Minimum | Non-compete
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	3 years
Minimum | Other
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	2 years
Maximum | Trade name
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	15 years
Maximum | Contractual and customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	10 years
Maximum | Non-compete
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	5 years
Maximum | Other
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	10 years

SIGNIFICANT ACCOUNTING POLIC_10

SIGNIFICANT ACCOUNTING POLICIES - Impairment of Long-Lived Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Impairment loss of intangible assets, excluding goodwill	$ 0	$ 0

SIGNIFICANT ACCOUNTING POLIC_11

SIGNIFICANT ACCOUNTING POLICIES - Research and Development (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Research and development expense	$ 0.4	$ 0.4	$ 0.1

SIGNIFICANT ACCOUNTING POLIC_12

SIGNIFICANT ACCOUNTING POLICIES - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Advertising costs	$ 1.2	$ 1.1	$ 0.6

SIGNIFICANT ACCOUNTING POLIC_13

SIGNIFICANT ACCOUNTING POLICIES - Provisions and Warranties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance warranty liability	$ 75	$ 52
Warranties assumed in period	624	398
Payments	(465)	(375)
Ending balance warranty liability	$ 234	$ 75

REVENUE - Schedule of Transacti

REVENUE - Schedule of Transactions Within Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movement in Deferred Revenue [Roll Forward]
Beginning contract liabilities	$ 818	$ 245
Revenue recognized related to payments	(768)	(199)
Payments received for which performance obligations have not been satisfied	206	773
Effect of Foreign Currency Translation	5	(1)
Ending contract liabilities	$ 261	$ 818

REVENUE - Schedule of Disaggreg

REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 323,993	$ 259,263	$ 158,924
Product revenue
Disaggregation of Revenue [Line Items]
Total revenue	258,174	217,283	136,262
Paint protection film
Disaggregation of Revenue [Line Items]
Total revenue	192,374	169,880	110,786
Window film
Disaggregation of Revenue [Line Items]
Total revenue	54,370	38,363	20,951
Other
Disaggregation of Revenue [Line Items]
Total revenue	11,430	9,040	4,525
Service revenue
Disaggregation of Revenue [Line Items]
Total revenue	65,819	41,980	22,662
Software
Disaggregation of Revenue [Line Items]
Total revenue	5,213	4,373	3,489
Cutbank credits
Disaggregation of Revenue [Line Items]
Total revenue	16,317	12,372	7,785
Installation labor
Disaggregation of Revenue [Line Items]
Total revenue	42,828	24,253	10,925
Training and other
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,461	$ 982	$ 463

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
The China Distributor | Customer Concentration Risk | Revenue from Contract with Customer Benchmark
Disaggregation of Revenue [Line Items]
Concentration risk percentage	10.50%	17.90%	20.60%

ACQUISITION OF BUSINESSES - Sch

ACQUISITION OF BUSINESSES - Schedule of Business Combinations Complete by Year-End (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Nov. 01, 2021	Oct. 01, 2021	May 25, 2021	Dec. 31, 2020	Oct. 30, 2020	Feb. 01, 2020
Car Care Products Australia
Business Acquisition [Line Items]
Purchase price	$ 2,178
invisiFRAME Ltd
Business Acquisition [Line Items]
Purchase price		$ 7,390
TintNet, Inc.
Business Acquisition [Line Items]
Purchase price			$ 13,000
6873391 Canada Ltd. o/a Shadow Shield
Business Acquisition [Line Items]
Purchase price			$ 7,178
PermaPlate Film LLC
Business Acquisition [Line Items]
Purchase price				$ 30,000
Veloce Innovation
Business Acquisition [Line Items]
Purchase price					$ 1,441
France Auto Racing
Business Acquisition [Line Items]
Purchase price						$ 329
Protex Centre
Business Acquisition [Line Items]
Purchase price							$ 2,475

ACQUISITION OF BUSINESSES - S_2

ACQUISITION OF BUSINESSES - Schedule of Acquisition Purchase Price (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allocation
Goodwill	$ 26,763	$ 25,655	$ 4,472
2022 Acquisitions
Purchase Price
Cash	1,876
Promissory note	0
Contingent consideration	0
Cancellation of receivable balance	302
Purchase price	2,178
Allocation
Cash	0
Accounts receivable	0
Inventory	595
Prepaid expenses and other assets	0
Other long-term assets	0
Property and equipment	0
Right-of-use lease assets	0
Goodwill	971
Current portion of lease liabilities	0
Accounts payable and accrued liabilities	0
Non-current portion of lease liabilities	0
Assumed debt	0
Deferred tax liability	0
Taxes payable	0
Assets acquired and liabilities assumed, net	2,178
2022 Acquisitions | Software
Allocation
Intangible assets	0
2022 Acquisitions | Trade name
Allocation
Intangible assets	0
2022 Acquisitions | Acquired patterns
Allocation
Intangible assets	0
2022 Acquisitions | Contractual and customer relationships
Allocation
Intangible assets	612
2022 Acquisitions | Non-compete
Allocation
Intangible assets	$ 0
2021 Acquisitions
Purchase Price
Cash		54,991
Promissory note		0
Contingent consideration		2,576
Cancellation of receivable balance		0
Purchase price		57,567
Allocation
Cash		3,789
Accounts receivable		3,250
Inventory		2,895
Prepaid expenses and other assets		73
Other long-term assets		7
Property and equipment		440
Right-of-use lease assets		0
Goodwill		21,284
Current portion of lease liabilities		0
Accounts payable and accrued liabilities		(1,982)
Non-current portion of lease liabilities		0
Assumed debt		0
Deferred tax liability		(1,127)
Taxes payable		0
Assets acquired and liabilities assumed, net		57,567
2021 Acquisitions | Software
Allocation
Intangible assets		0
2021 Acquisitions | Trade name
Allocation
Intangible assets		2,121
2021 Acquisitions | Acquired patterns
Allocation
Intangible assets		488
2021 Acquisitions | Contractual and customer relationships
Allocation
Intangible assets		26,329
2021 Acquisitions | Non-compete
Allocation
Intangible assets		$ 0
2020 Acquisitions
Purchase Price
Cash			2,811
Promissory note			893
Contingent consideration			541
Cancellation of receivable balance			0
Purchase price			4,245
Allocation
Cash			243
Accounts receivable			207
Inventory			182
Prepaid expenses and other assets			4
Other long-term assets			6
Property and equipment			162
Right-of-use lease assets			588
Goodwill			1,939
Current portion of lease liabilities			(73)
Accounts payable and accrued liabilities			(157)
Non-current portion of lease liabilities			(514)
Assumed debt			(109)
Deferred tax liability			(274)
Taxes payable			(35)
Assets acquired and liabilities assumed, net			4,245
2020 Acquisitions | Software
Allocation
Intangible assets			1
2020 Acquisitions | Trade name
Allocation
Intangible assets			0
2020 Acquisitions | Acquired patterns
Allocation
Intangible assets			0
2020 Acquisitions | Contractual and customer relationships
Allocation
Intangible assets			1,896
2020 Acquisitions | Non-compete
Allocation
Intangible assets			$ 179

ACQUISITION OF BUSINESSES - Nar

ACQUISITION OF BUSINESSES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets weighted average useful life (in years)	9 years	9 years
Revenue	$ 325,807,000	$ 261,367,000
Operating income	41,710,000	31,854,000
2021 Acquisitions
Finite-Lived Intangible Assets [Line Items]
Revenue		16,600,000
Operating income		$ 1,600,000
2020 Acquisitions
Finite-Lived Intangible Assets [Line Items]
Revenue			$ 3,800,000
Operating income			$ 1,100,000
Tint Net Inc1 One Armor Shadow Shield Shadow Tint And North1 Technologies
Finite-Lived Intangible Assets [Line Items]
Reduction in purchase price	900,000
Increase in estimate of goodwill	800,000
Business acquisition decrease in net identifiable intangible assets	600,000
Business acquisition decrease in deferred tax liabilities	100,000
Reduction in contingent consideration	$ 900,000

ACQUISITION OF BUSINESSES - S_3

ACQUISITION OF BUSINESSES - Schedule of Pro Forma Results (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Revenue	$ 325,807	$ 261,367
Net income	$ 41,710	$ 31,854

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 23,494	$ 16,129
Less: accumulated depreciation	9,291	6,231
Property and equipment, net	14,203	9,898
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment	2,667	2,147
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	3,455	2,201
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment	838	822
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	4,728	3,571
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	7,081	5,138
Plotters
Property, Plant and Equipment [Line Items]
Property, plant and equipment	2,980	2,133
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 1,745	$ 117

PROPERTY AND EQUIPMENT, NET - N

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3,433	$ 1,887	$ 1,274

INTANGIBLE ASSETS, NET - Schedu

INTANGIBLE ASSETS, NET - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 39,767	$ 38,988
Less: Accumulated amortization	10,473	6,255
Intangible assets, net	29,294	32,733
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	686	500
Software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	4,822	3,431
Trade name
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	1,451	2,579
Contractual and customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	31,871	31,326
Non-compete
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	440	459
Other
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 497	$ 693

INTANGIBLE ASSETS, NET - Narrat

INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 4,401	$ 2,501	$ 956

INTANGIBLE ASSETS, NET - Sche_2

INTANGIBLE ASSETS, NET - Schedule of Future Amortization Expense of Finite-Lived Intangible Assets (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 4,561
2024	4,321
2025	4,068
2026	3,990
2027	3,616
Thereafter	$ 8,738

GOODWILL - Schedule of Goodwill

GOODWILL - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill beginning balance	$ 25,655	$ 4,472
Additions and purchase price allocation adjustments	1,826	21,284
Foreign currency translation	(718)	(101)
Goodwill ending balance	$ 26,763	$ 25,655

INVENTORIES - Schedule of Inven

INVENTORIES - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 10,416	$ 2,698
Work in process	6,756	180
Finished goods	63,403	49,058
Inventory, net	$ 80,575	$ 51,936

DEBT - Narrative (Details)

DEBT - Narrative (Details) - Revolving Credit Facility - Line of Credit		12 Months Ended
	May 21, 2021	Dec. 31, 2022 USD ($) covenant	Dec. 31, 2022 CAD ($) covenant	Dec. 31, 2021 USD ($)	Dec. 29, 2021 USD ($)
Texas Partners Bank
Line of Credit Facility [Line Items]
Maximum borrowing capacity					$ 75,000,000
Line of credit facility interest rate equal to or less than)		6.75%	6.75%
Number of covenants | covenant		2	2
The Bank Of San Antonio
Line of Credit Facility [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.25%
Interest expense, debt		$ 1,300,000
Amount outstanding		26,000,000
Debt instrument, covenant, funded debt to EBITDA ratio, maximum	3.50
Covenant, debt service coverage ratio required, minimum	1.25
The Bank Of San Antonio | Scenario One
Line of Credit Facility [Line Items]
Line of credit facility interest rate equal to or less than)	200%
The Bank Of San Antonio | Scenario One | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on prime rate	0.75%
The Bank Of San Antonio | Scenario Two
Line of Credit Facility [Line Items]
Line of credit facility interest rate equal to or less than)	200%
The Bank Of San Antonio | Scenario Two | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on prime rate	0.25%
HSBC Bank Canada
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 4,500,000
Amount outstanding		$ 0		$ 0
HSBC Bank Canada | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on prime rate		0.25%

DEBT - Schedule of Notes Payabl

DEBT - Schedule of Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 77	$ 458
Unamortized discount	0	(7)
Current portion	(77)	(375)
Total long-term debt	$ 0	76
Face value of acquisition notes payable
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.61%
Total debt	$ 77	$ 458

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Contribution expense	$ 0.8	$ 0.5	$ 0.3

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Schedule of Accounts Payable and Accrued Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Payable and Accrued Liabilities [Abstract]
Trade payables	$ 16,689	$ 25,175
Payroll liabilities	3,596	3,386
Contract liabilities	261	818	$ 245
Acquisition holdback payments	191	2,007
Other liabilities	2,233	1,529
Accounts payable and accrued liabilities	$ 22,970	$ 32,915

CAPITAL STOCK - Narrative (Deta

CAPITAL STOCK - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock par value issued	$ 28	$ 28
Common Stock
Class of Stock [Line Items]
Common stock issued (in shares)	27,616,064	27,612,597
Common stock outstanding (in shares)	27,616,064	27,612,597
Common stock par value issued	$ 30	$ 30

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	May 28, 2020
Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)		275,000
Maximum term in number of years	10 years
Maximum number of allocated and made available to be issued shares as a percent	10%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 0.5

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Unit Activity (Details) - Restricted Stock Units	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of Restricted Stock Units
Number of Restricted Stock Units, Beginning Balance (in shares) | shares	17,520
Granted (in shares) | shares	36,639
Vested (in shares) | shares	(3,467)
Forfeited (in shares) | shares	(6,125)
Number of Restricted Stock Units, Ending Balance (in shares) | shares	44,567
Weighted Average Grant Value Per Share
Beginning Balance (in dollars per share) | $ / shares	$ 84.19
Granted (in dollars per share) | $ / shares	64.91
Vested (in dollars per share) | $ / shares	84.19
Forfeited (in dollars per share) | $ / shares	74.80
Ending Balance (in dollars per share) | $ / shares	$ 69.63

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Contingent Liabilities	$ 955	$ 2,665

INCOME TAXES - Income Before In

INCOME TAXES - Income Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 48,574	$ 35,647	$ 20,547
International	3,391	3,793	2,258
Income before income taxes	$ 51,965	$ 39,440	$ 22,805

INCOME TAXES - Income Taxes Pro

INCOME TAXES - Income Taxes Provision Difference (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income before income taxes	$ 51,965,000	$ 39,440,000	$ 22,805,000
Statutory rate	21%	21%	21%
Income statutory rate amount	$ 10,913,000	$ 8,282,000	$ 4,789,000
State taxes net of federal benefit	862,000	649,000	295,000
Nondeductible/nontaxable items	53,000	101,000	49,000
Tax Impact of foreign operations	230,000	171,000	102,000
Foreign derived intangible income benefit	(1,114,000)	(970,000)	(703,000)
Other - net	(360,000)	(360,000)	(9,000)
Income tax expense	$ 10,584,000	$ 7,873,000	$ 4,523,000

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of the Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current income tax expense
Federal	$ 9,006	$ 5,051	$ 3,573
Foreign	1,025	1,158	816
State	1,036	664	407
Total current income tax expense	11,067	6,873	4,796
Deferred income tax expense/(benefit)
Federal	(196)	968	(234)
Foreign	(249)	3	14
State	(38)	29	(53)
Total deferred income tax expense/(benefit)	(483)	1,000	(273)
Income tax expense	$ 10,584	$ 7,873	$ 4,523

INCOME TAXES - Schedule of Co_2

INCOME TAXES - Schedule of Components of Deferred Income Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets
Allowance for Doubtful Accounts	$ 26	$ 49
263(A) Adjustment	190	122
Accrued Expenses	526	601
Inventory Reserve	152	26
Unrealized loss	21	57
State Tax Credit	174	152
NOL Carryforward and Other	232	295
Stock Compensation	73	38
Capitalized Acquisition Costs	65	61
Capitalized Research and Development	898	0
Right of Use Lease Liability	3,154	2,484
Less Valuation Allowance	(83)	(81)
Total deferred tax assets	5,428	3,804
Deferred Tax Liabilities
Fixed and Intangible Assets	4,465	4,039
Unrealized Gain	15	15
Accretion	0	1
Right of Use Lease Asset	2,997	2,497
Total deferred tax liabilities	7,477	6,552
Total net deferred tax liabilities	$ (2,049)	$ (2,748)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 1,000
Operating loss carryforwards, not subject to expiration	800
Operating loss carryforwards, valuation allowance	300
State tax credit	174	$ 152
Unrecognized tax benefits, decrease resulting from foreign subsidiaries	200
Unrecognized tax benefits that would impact effective tax rate	$ 100

INCOME TAXES - Schedule of Unre

INCOME TAXES - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning unrecognized tax benefits	$ 129	$ 129	$ 0
Increase related tax positions of prior years	15	0	129
Ending unrecognized tax benefits	$ 144	$ 129	$ 129

LEASES - Schedule of Balance Sh

LEASES - Schedule of Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 15,309	$ 12,910
Current portion of operating lease liabilities	3,885	2,978
Noncurrent portion of operating lease liabilities	12,119	9,830
Total operating lease liabilities	$ 16,004	$ 12,808

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease expense	$ 4.2	$ 2.7	$ 1.5
Short-term lease expense	0.6	0.5
Operating lease payment	3.5	2.7
Variable lease payment	$ 0.4	$ 0.3

LEASES - Schedule of Weighted A

LEASES - Schedule of Weighted Average Remaining Lease Term and Discount Rate Information (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term (in years)	5 years 3 months 18 days	5 years 1 month 6 days
Weighted-average discount rate	5%	4.70%

LEASES - Schedule of Maturities

LEASES - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 4,060
2024	3,596
2025	3,012
2026	2,762
2027	2,022
Thereafter	3,462
Total operating lease payments	18,914
Less: interest	(2,910)
Total operating lease liabilities	$ 16,004	$ 12,808

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator
Net income	$ 41,381	$ 31,567	$ 18,282
Denominator
Weighted average basic shares (in shares)	27,614	27,613	27,613
Dilutive effect of restricted stock units (in shares)	2	0	0
Weighted average diluted shares (in shares)	27,616	27,613	27,613
Earnings per share
Basic (in dollars per share)	$ 1.50	$ 1.14	$ 0.66
Diluted (in dollars per share)	$ 1.50	$ 1.14	$ 0.66