XPEL, Inc.

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 27, 2026

XPEL$40.03+5.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

(In thousands except per share data)

	Year Ended December 31,
	2025	2024	2023
Revenue
Product revenue	$359,855	$318,849	$311,406
Service revenue	116,345	101,551	84,887
Total revenue	476,200	420,400	396,293
Cost of Sales
Cost of product sales	223,967	199,791	198,008
Cost of service	51,214	43,249	35,871
Total cost of sales	275,181	243,040	233,879
Gross Margin	201,019	177,360	162,414
Operating Expenses
Sales and marketing	51,138	42,817	31,788
General and administrative	87,232	75,396	63,654
Total operating expenses	138,370	118,213	95,442
Operating Income	62,649	59,147	66,972
Interest expense	83	996	1,248
Foreign currency exchange (gain)/loss	(1,495)	1,373	(307)
Income before income taxes	64,061	56,778	66,031
Income tax expense	12,472	11,289	13,231
Net Income	$51,589	$45,489	$52,800
Net income attributed to non-controlling interest	363	—	—
Net income attributable to stockholders of the Company	$51,226	$45,489	$52,800
Earnings per share attributable to stockholders of the Company
Basic	$1.85	$1.65	$1.91
Diluted	$1.85	$1.65	$1.91
Weighted Average Number of Common Shares Outstanding
Basic	27,657	27,639	27,622
Diluted	27,683	27,643	27,634

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.