XPEL, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $476.2M | $420.4M | $396.3M | $324.0M | $259.3M |
| Cost of revenue | $275.2M | $243.0M | $233.9M | $196.5M | $166.6M |
| Gross profit | $201.0M | $177.4M | $162.4M | $127.5M | $92.7M |
| Research and development | $2.9M | $2.9M | $2.9M | $400,000 | $400,000 |
| Operating expenses | $138.4M | $118.2M | $95.4M | $73.6M | $52.6M |
| Operating income | $62.6M | $59.1M | $67.0M | $53.9M | $40.1M |
| Interest expense | $83,000 | $996,000 | $1.2M | $1.4M | $303,000 |
| Pretax income | $64.1M | $56.8M | $66.0M | $52.0M | $39.4M |
| Income tax expense | $12.5M | $11.3M | $13.2M | $10.6M | $7.9M |
| Net income | $51.2M | $45.5M | $52.8M | $41.4M | $31.6M |
| Balance Sheet | |||||
| Cash and equivalents | $50.9M | $22.1M | $11.6M | $8.1M | $9.6M |
| Current assets | $230.7M | $168.3M | $146.5M | $106.8M | $79.0M |
| Total assets | $382.5M | $285.6M | $252.0M | $193.4M | $161.0M |
| Current liabilities | $71.0M | $41.5M | $36.5M | $27.4M | $36.3M |
| Total liabilities | $97.3M | $60.2M | $72.1M | $68.6M | $76.6M |
| Stockholders' equity | $280.3M | $225.5M | $180.0M | $124.7M | $84.5M |
| Cash Flow Statement | |||||
| Cash from operations | $66.9M | $47.8M | $37.4M | $12.1M | $18.3M |
| Depreciation and amortization | $6.3M | $5.8M | $4.5M | $3.4M | $1.9M |
| Stock-based compensation | $2.8M | $3.2M | $1.6M | $522,000 | $169,000 |
| Capital expenditure | $4.0M | $6.7M | $6.4M | $7.9M | $6.7M |
| Free cash flow | $62.9M | $41.1M | $31.0M | $4.1M | $11.5M |
| Share repurchases | $3.0M | $0 | $0 | — | — |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 27.6M · Free float 90.6%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.