XPEL Releases First Quarter 2026 Financial Report
XPEL posted 13.1% revenue growth & 17.8% EBITDA growth in Q1 2026, with total revenue reaching $117.4 million....
XPEL Inc. (Nasdaq: XPEL), a global provider of protective films and coatings, announced consolidated results for the first quarter ended March 31, 2026, company officials stated in a press release.
First Quarter 2026 Overview
- Revenue increased 13.1% to $117.4 million in the first quarter of 2026 compared to $103.8 million in the first quarter of 2025.
- Gross margin of 43.7% in the first quarter of 2026 compared to 42.3% in the first quarter last year.
- Net income attributable to stockholders of the company increased 20.5% to $10.3 million, or $0.37 per basic and $0.37 per diluted share, respectively, versus net income attributable to stockholders of the company of $8.6 million, or $0.31 per basic and diluted share in the first quarter of 2025.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased 17.8% to $17.0 million, or 14.5% of revenue, compared to $14.4 million, or 13.9% of revenue in the first quarter of 2025.
“We delivered solid top and bottom line performance in the first quarter, and we are off to a good start for the year,” commented Ryan Pape, president and chief executive officer of XPEL. “As we continue through 2026, we remain focused on executing on our strategic initiatives and continuing to drive operating leverage.”
Financial Highlights for the First Quarter 2026
Summary consolidated financial information for the first quarter ended March 31, 2026, and 2025 (unaudited, dollars in thousands):
| 2026 | % of Revenue | 2025 | % of Revenue | 2026 vs. 2025 %Change | |
|---|---|---|---|---|---|
| Total revenue | $117,354 | 100.0% | $103,805 | 100.0% | 13.1% |
| Gross margin | $51,230 | 43.7% | $43,896 | 42.3% | 16.7% |
| Operating Expenses | $38,219 | 32.6% | $32,776 | 31.6% | 16.6% |
| Net income attributable to stockholders | $10,345 | 8.8% | $8,586 | 8.3% | 20.5% |
| EBITDA | $16,973 | 14.5% | $14,411 | 13.9% | 17.8% |
| Net cash provided by operating activities | $7,379 | 6.3% | $3,228 | 3.1% | 128.6% |
Geographical Revenue Summary
| Region | 2026 | 2025 | % Change Inc (Dec) |
% of Total Revenue – 2026 |
% of Total Revenue – 2025 |
|---|---|---|---|---|---|
| United States | $63,842 | $58,073 | 9.9% | 54.4% | 56.0% |
| Canada | $8,400 | $9,426 | (10.9)% | 7.2% | 9.1% |
| North America | $72,242 | $67,499 | 7.0% | 61.6% | 65.1% |
| China | $11,709 | $8,107 | 44.4% | 10.0% | 7.8% |
| Asia Other | $5,693 | $4,550 | 25.1% | 4.8% | 4.3% |
| Asia Pacific | $17,402 | $12,657 | 37.5% | 14.8% | 12.1% |
| EU, UK, and Africa | $17,857 | $15,010 | 19.0% | 15.2% | 14.4% |
| India and Middle East | $6,767 | $6,077 | 11.4% | 5.8% | 5.9% |
| Latin America | $3,086 | $2,562 | 20.5% | 2.6% | 2.5% |
| Total | $117,354 | $103,805 | 13.1% | 100.0% | 100.0% |
Overall Revenue
- Total revenue grew 13.1% compared to first quarter 2025 (“YoY”).
- US revenue increased 9.9% YoY.
Product & Service Revenue
- Adjusted product revenue (combining cutbank credits revenue and product revenue) increased 10.2% YoY.
- Total window film revenue increased 24.8% YoY and represented 19.8% of total revenue.
- Total service revenue increased 14.1% YoY.
- Total installation revenue (labor and product combined) grew 24.3% YoY.
Other Financial Information
- Gross margin was 43.7% and 42.3% in the first quarter of 2026 and 2025, respectively.
- Total operating expenses increased 16.6% YoY.
- Sales and marketing expenses increased 27.7% YoY and represented 12.9% of revenue.
- General and administrative expenses increased 10.3% YoY and represented 19.6% of revenue.
Cash Flows From Operations
- Cash flows provided by operations were $7.4 million in the first quarter 2026 compared to $3.2 million in the first quarter of 2025.
2026 Second Quarter Outlook
- The Company expects second quarter 2026 revenue of approximately $135–$137 million.
See the full press release for the information under “Forward-looking Statements” regarding certain cautionary statements relating to XPEL’s 2026 Second Quarter Outlook. The press release also contains additional details regarding XPEL’s Q1 2026 financial results.
Conference Call Replay
The company hosted a conference call and webcast, May 6, 2026, to discuss the company’s first quarter 2026 results. A replay of the teleconference will be available until June 6, 2026, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 53842.
