XPEL, Inc. reported a total revenue of $476.2 million for the fiscal year ending December 31, 2025, marking a 13.3% increase from $420.4 million in 2024. The company's net income also rose to $51.6 million, a 13.4% increase compared to $45.5 million in the previous year. The growth in revenue was primarily driven by a 12.9% increase in product revenue, which accounted for 75.6% of total revenue, and a 14.6% rise in service revenue. The gross margin remained stable at 42.2%, reflecting effective cost management despite rising operational expenses.
In terms of operational changes, XPEL completed five acquisitions in 2025, including a significant acquisition of its exclusive distributor in China, which contributed to a 65.3% increase in revenue from that region. The company’s strategic focus on expanding its presence in key international markets has been a critical component of its growth strategy. The acquisitions are expected to enhance XPEL's market share and operational capabilities, particularly in the automotive aftermarket sector.
The company reported a notable increase in its customer base, with over 640 installation technicians employed to support its services. XPEL's employee headcount rose to approximately 1,337 as of December 31, 2025, reflecting its commitment to scaling operations in response to growing demand. The company also emphasized its investment in research and development, which is crucial for maintaining its competitive edge in protective film technologies.
Looking ahead, XPEL anticipates continued growth driven by increased product adoption and geographic expansion. The company plans to invest further in manufacturing and supply chain assets to enhance product quality and reduce costs. However, it also acknowledged potential risks, including reliance on the automotive industry and the impact of inflation on raw material costs. The management remains optimistic about the future, projecting sustained revenue growth as it leverages its expanded operational footprint and product offerings.
About XPEL, Inc.
XPEL, Inc. specializes in manufacturing and distributing protective films, coatings, and related services primarily for the automotive aftermarket, OEMs, and architectural applications. Its core products include paint protection films, window tints, windshield protection, and architectural films. The company leverages proprietary software, installation services, and a global distribution network to serve independent installers, dealerships, and OEMs, emphasizing brand strength, innovation, and strategic expansion.
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