Xpel, Inc. income statement
In fiscal 2025, Xpel, Inc. reported revenue of $476m, up 13.3% on the year before, operating income of $62.6m (a 13.2% margin) and net income of $51.2m, or $1.85 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 110 | 130 | 159 | 259 | 324 | 396 | 420 | 476 | 508 |
| Cost of revenue | 76 | 86 | 105 | 167 | 196 | 234 | 243 | 275 | 290 |
| Gross profit | 33 | 44 | 54 | 93 | 128 | 162 | 177 | 201 | 218 |
| Research and development | 0 | 1 | 0 | 0 | 0 | 3 | 3 | 3 | — |
| Selling and marketing | 7 | 8 | 10 | 18 | 25 | 32 | 43 | 51 | 58 |
| General and administrative | 15 | 19 | 21 | 34 | 48 | 64 | 75 | 87 | 92 |
| Operating income | 12 | 17 | 23 | 40 | 54 | 67 | 59 | 63 | 68 |
| Interest expense | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 0 |
| Income before tax | 11 | 17 | 23 | 39 | 52 | 66 | 57 | 64 | 69 |
| Income tax | 3 | 3 | 5 | 8 | 11 | 13 | 11 | 12 | 13 |
| Net income | 9 | 14 | 18 | 32 | 41 | 53 | 45 | 51 | 55 |
| Diluted EPS | $0.32 | $0.51 | $0.66 | $1.14 | $1.50 | $1.91 | $1.65 | $1.85 | $1.98 |
| Diluted shares (average) | 28m | 28m | 28m | 28m | 28m | 28m | 28m | 28m | 28m |
| EBITDA | 13 | 18 | 25 | 42 | 57 | 72 | 65 | 69 | 75 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 113 | 108 | 104 | 125 | 125 | 122 | 117 | 143 |
| Cost of revenue | 65 | 64 | 60 | 71 | 73 | 71 | 66 | 80 |
| Gross profit | 48 | 44 | 44 | 54 | 52 | 51 | 51 | 63 |
| Selling and marketing | 11 | 12 | 12 | 12 | 14 | 14 | 15 | 15 |
| General and administrative | 19 | 20 | 21 | 22 | 22 | 22 | 23 | 25 |
| Operating income | 18 | 12 | 11 | 19 | 17 | 15 | 13 | 23 |
| Interest expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income before tax | 19 | 11 | 11 | 20 | 17 | 16 | 13 | 23 |
| Income tax | 4 | 2 | 3 | 4 | 4 | 2 | 3 | 5 |
| Net income | 15 | 9 | 9 | 16 | 13 | 13 | 10 | 18 |
| Diluted EPS | $0.54 | $0.33 | $0.31 | $0.59 | $0.47 | $0.48 | $0.37 | $0.65 |
| EBITDA | 20 | 14 | 13 | 21 | 18 | 17 | 15 | 25 |
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