XPEL, Inc.XPELEarnings & Financial Report
XPEL, Inc. is a global provider of high-performance surface protection solutions primarily for automotive use. Core offerings include paint protection films, window tints, and ceramic coatings, serving vehicle owners, dealerships, and professional installers across North America, Europe, and Asia Pacific.
Revenue
$124.7M
Gross Profit
$53.5M
Operating Profit
$19.3M
Net Profit
$16.3M
Gross Margin
42.9%
Operating Margin
15.5%
Net Margin
13.1%
YoY Growth
13.5%
EPS
$0.59
XPEL, Inc. Q2 FY2025 Financial Summary
XPEL, Inc. reported revenue of $124.7M (up 13.5% YoY) for Q2 FY2025, with a net profit of $16.3M (up 8.4% YoY) (13.1% margin). Cost of goods sold was $71.2M, operating expenses totaled $34.2M.
Key Financial Metrics
| Total Revenue | $124.7M |
|---|---|
| Net Profit | $16.3M |
| Gross Margin | 42.9% |
| Operating Margin | 15.5% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
XPEL, Inc. Q2 FY2025 revenue of $124.7M breaks down across 6 segments, led by Product Revenue Paint Protection Film at $62.7M (50.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Product Revenue Paint Protection Film | $62.7M | 50.2% |
| Services | $29.9M | 24.0% |
| Service Revenue Installation Labor | $22.4M | 18.0% |
| Service Revenue Cutbank Credits | $4.5M | 3.6% |
| Product Revenue Other | $4.2M | 3.3% |
| Service Revenue Software | $2.2M | 1.7% |
XPEL, Inc. Revenue by Segment — Quarterly Trend
XPEL, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Product Revenue Paint Protection Film and Services) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Product Revenue Paint Protection Film | — | — | $62.7M | — |
| Services | — | — | $29.9M | — |
| Service Revenue Installation Labor | $23.8M | $22.1M | $22.4M | $18.6M |
| Service Revenue Cutbank Credits | $4.1M | $4.3M | $4.5M | $3.7M |
| Product Revenue Other | — | — | $4.2M | — |
XPEL, Inc. Annual Revenue by Year
XPEL, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $476.2M).
| Year | Annual Revenue |
|---|---|
| 2025 | $476.2M |
| 2024 | $420.4M |
| 2023 | $396.3M |
| 2022 | $324.0M |
XPEL, Inc. Quarterly Revenue & Net Profit History
XPEL, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $122.3M | +13.7% | $13.4M | 11.0% |
| Q3 FY2025 | $125.4M | +11.1% | $12.9M | 10.3% |
| Q2 FY2025 | $124.7M | +13.5% | $16.3M | 13.1% |
| Q1 FY2025 | $103.8M | +15.2% | $8.6M | 8.3% |
| Q4 FY2024 | $107.5M | +1.9% | $8.9M | 8.3% |
| Q3 FY2024 | $112.9M | +9.9% | $14.9M | 13.2% |
| Q2 FY2024 | $109.9M | +7.5% | $15.0M | 13.7% |
| Q1 FY2024 | $90.1M | +5.0% | $6.7M | 7.4% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $90.1M | $109.9M | $112.9M | $107.5M | $103.8M | $124.7M | $125.4M | $122.3M |
| YoY Growth | 5.0% | 7.5% | 9.9% | 1.9% | 15.2% | 13.5% | 11.1% | 13.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $258.5M | $261.8M | $273.0M | $285.6M | $294.8M | $318.1M | $387.7M | $382.5M |
| Liabilities | $72.1M | $59.9M | $54.3M | $60.2M | $59.4M | $62.4M | $113.8M | $97.3M |
| Equity | $186.4M | $201.9M | $218.7M | $225.5M | $235.5M | $255.7M | $269.3M | $280.3M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-5.0M | $26.9M | $19.6M | $6.3M | $3.2M | $27.9M | $33.2M | $2.7M |