XPEL, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $476.2M | $420.4M | $396.3M | $324.0M | $259.3M | $158.9M | $129.9M | $109.9M |
| Cost of Revenue | $275.2M | $243.0M | $233.9M | $196.5M | $166.6M | $104.9M | $86.4M | $76.5M |
| Gross Profit | $201.0M | $177.4M | $162.4M | $127.5M | $92.7M | $54.0M | $43.5M | $33.4M |
| Gross Margin | 42.2% | 42.2% | 41.0% | 39.4% | 35.7% | 34.0% | 33.5% | 30.4% |
| Operating Expenses | ||||||||
| Research & Development | $2.9M | $2.9M | $2.9M | $400.0K | $400.0K | $100.0K | $602.4K | $223.9K |
| SG&A Expense | $87.2M | $75.4M | $63.7M | $48.2M | $34.3M | $20.9M | $18.8M | $14.8M |
| Operating Income | $62.6M | $59.1M | $67.0M | $53.9M | $40.1M | $23.4M | $17.1M | $11.8M |
| Operating Margin | 13.2% | 14.1% | 16.9% | 16.6% | 15.5% | 14.7% | 13.2% | 10.7% |
| Interest Expense | — | — | $1.2M | $1.4M | $303.0K | $249.0K | $96.6K | $168.4K |
| Pretax Income | $64.1M | $56.8M | $66.0M | $52.0M | $39.4M | $22.8M | $17.0M | $11.5M |
| Income Tax Expense | $12.5M | $11.3M | $13.2M | $10.6M | $7.9M | $4.5M | $3.0M | $2.8M |
| Net Income | $51.2M | $45.5M | $52.8M | $41.4M | $31.6M | $18.3M | $14.0M | $8.7M |
| Net Margin | 10.8% | 10.8% | 13.3% | 12.8% | 12.2% | 11.5% | 10.8% | 7.9% |
| EPS (Basic) | $1.85 | $1.65 | $1.91 | $1.50 | $1.14 | $0.66 | $0.51 | $0.32 |
| EPS (Diluted) | $1.85 | $1.65 | $1.91 | $1.50 | $1.14 | $0.66 | $0.51 | $0.32 |
| Shares Outstanding (Basic) | 27.7M | 27.6M | 27.6M | 27.6M | 27.6M | 27.6M | 27.6M | 27.6M |
| Shares Outstanding (Diluted) | 27.7M | 27.6M | 27.6M | 27.6M | 27.6M | 27.6M | 27.6M | 27.6M |
| Dividends Per Share | — | — | — | — | — | — | — | — |