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XPEL, Inc. (XPEL) Annual Reports

Q: Where can I read XPEL, Inc. (XPEL) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

XPEL, Inc. is listed on Nasdaq, classified by the SEC under Coating, Engraving & Allied Services (SIC 3470). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 12/31
SEC CIK： 1767258 →

Website：Official site ↗

Financial Highlights

FY2026 Q2 (quarterly, ended 2026-06-30)
	Current	Prior year	YoY
Revenue	$143.1M	$124.7M	+14.7%
Operating income	$23.2M	$19.3M	+20.3%
Net income	$18.0M	$16.3M	+10.7%
EPS (diluted)	$0.65	$0.59	+10.2%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In mn (USD)

Revenue 143 mn Net income 18.0 mn

Show table：Income statement

Item	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Revenue	28.8	29.2	26.8	24.7	30.1	35.6	39.5	28.4	35.8	46.1	48.6	51.9	68.7	68.5	70.1	71.9	83.9	89.8	78.5	85.8	102	103	106	90.1	110	113	108	104	125	125	122	117	143
Gross profit	8.56	8.85	8.42	8.15	10.6	12.3	12.5	10.3	11.7	16.0	16.0	18.3	25.3	24.4	24.7	27.7	33.0	35.8	31.1	36.0	44.0	41.5	40.9	37.9	47.9	47.9	43.7	43.9	53.5	52.4	51.2	51.2	63.1
Operating income	3.46	2.99	2.58	2.47	3.97	5.67	4.97	2.48	5.14	8.41	7.33	8.55	12.7	10.4	8.53	10.0	15.8	17.3	10.8	14.9	20.2	17.6	14.2	9.23	19.2	18.4	12.3	11.1	19.3	16.8	15.5	13.0	23.2
Net income	2.56	2.17	1.89	1.86	3.01	4.50	4.61	1.61	3.97	6.61	6.09	6.85	10.2	8.33	6.20	7.80	11.9	13.3	8.36	11.4	15.7	13.7	12.0	6.67	15.0	14.9	8.90	8.59	16.3	12.9	13.4	10.3	18.0

Balance sheet

Quarterly · In mn (USD)

Total assets 473 mn Total liabilities 154 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Current assets	—	—	21.0	—	29.6	33.1	36.3	43.3	49.8	58.0	62.8	72.5	50.3	66.0	79.0	104	108	105	107	120	126	138	146	153	148	159	168	178	197	235	231	237	227
Total assets	—	—	30.5	—	43.4	47.4	51.6	61.7	68.2	76.2	83.8	95.3	105	124	161	188	189	188	193	208	217	227	252	258	262	273	286	295	318	388	383	394	473
Current liabilities	—	—	8.48	—	13.5	12.8	11.8	14.8	19.1	20.9	21.2	26.1	25.0	35.0	36.3	47.1	40.4	31.8	27.4	27.6	35.4	46.5	36.5	31.8	31.0	36.5	41.5	41.6	44.6	84.3	71.0	77.2	86.9
Total liabilities	—	—	9.93	—	17.7	17.4	16.7	26.7	28.8	29.8	30.5	35.3	34.9	46.0	76.5	96.0	86.0	73.3	68.6	70.9	63.4	60.2	72.0	72.1	59.9	54.3	60.1	59.4	62.4	114	97.3	102	154
Equity	16.7	19.1	20.8	22.6	25.9	30.3	35.1	35.0	39.4	46.4	53.4	60.0	70.4	78.4	84.5	92.2	103	115	125	137	153	167	180	186	202	219	225	235	256	269	280	288	306

Cash flow

Quarterly · In mn (USD)

Operating 30.8 mn Investing -72.9 mn Financing 38.3 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating	1.62	2.73	2.45	1.01	2.06	2.57	5.32	0.27	11.5	2.46	4.23	8.93	10.2	1.10	-1.91	-4.31	1.78	12.2	2.36	0.7	26.7	11.1	-1.12	-4.96	26.9	19.6	6.33	3.23	27.9	33.1	2.67	7.38	30.8
Investing	-0.81	-0.7	-1.59	-0.44	-0.45	-0.6	-0.82	-2.11	-0.34	-0.41	-1.80	-1.52	-32.1	-2.05	-21.1	-2.59	-2.00	-5.23	-4.33	-2.36	-5.89	-1.96	-16.1	-3.11	-7.48	-2.39	-5.42	-1.56	-1.35	-17.9	-13.0	-9.89	-72.9
Financing	-2.57	-0.31	-0.21	-0.19	-0.53	-0.19	-0.23	5.07	-0.25	-0.65	-0.66	-0.72	-4.70	-0.17	24.8	7.89	-1.19	-6.04	-0.06	1.92	-15.0	-13.1	19.0	4.99	-13.1	-11.1	-0.03	-0.17	-0.09	-0.17	-3.23	-3.57	38.3
Cash at period end	1.53	3.45	3.97	4.38	5.47	7.30	11.5	14.8	25.8	27.2	29.0	35.6	8.73	7.82	9.64	10.6	9.32	10.3	8.06	8.33	14.3	10.4	11.6	8.61	15.0	21.0	22.1	23.5	49.6	64.5	50.9	45.1	40.7

Profitability

Quarterly · %

Gross margin 44.1% Operating margin 16.2% Net margin 12.6%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Gross margin	29.8%	30.3%	31.4%	33.0%	35.3%	34.5%	31.5%	36.3%	32.8%	34.8%	32.8%	35.3%	36.7%	35.7%	35.2%	38.6%	39.3%	39.9%	39.6%	41.9%	43.0%	40.5%	38.8%	42.0%	43.5%	42.5%	40.6%	42.3%	42.9%	41.8%	41.9%	43.6%	44.1%
Operating margin	12.0%	10.2%	9.6%	10.0%	13.2%	15.9%	12.6%	8.8%	14.4%	18.2%	15.1%	16.5%	18.4%	15.1%	12.2%	14.0%	18.8%	19.3%	13.8%	17.4%	19.8%	17.2%	13.5%	10.2%	17.4%	16.3%	11.5%	10.7%	15.5%	13.4%	12.7%	11.1%	16.2%
Net margin	8.9%	7.4%	7.1%	7.5%	10.0%	12.6%	11.7%	5.7%	11.1%	14.3%	12.5%	13.2%	14.8%	12.2%	8.8%	10.9%	14.2%	14.8%	10.7%	13.3%	15.4%	13.3%	11.3%	7.4%	13.7%	13.2%	8.3%	8.3%	13.1%	10.3%	11.0%	8.8%	12.6%

Returns & leverage

Quarterly · %

ROE 19.5% ROA 13.8% Debt ratio 32.6%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
ROE	—	—	—	37.6%	41.9%	45.7%	50.0%	47.7%	45.0%	43.8%	41.3%	49.5%	54.1%	50.4%	45.8%	42.7%	39.5%	40.6%	39.6%	39.3%	38.1%	35.0%	34.7%	29.7%	26.6%	25.2%	22.4%	22.5%	21.3%	19.1%	20.3%	20.3%	19.5%
ROA	—	—	—	—	20.6%	23.8%	34.0%	22.3%	26.4%	27.2%	27.0%	29.9%	34.3%	31.4%	25.8%	22.9%	23.3%	25.1%	23.4%	22.7%	24.1%	23.7%	23.7%	20.6%	19.8%	19.4%	16.9%	17.1%	16.8%	14.1%	15.3%	15.4%	13.8%
Debt ratio	—	—	32.5%	—	40.7%	36.6%	32.4%	43.3%	42.2%	39.1%	36.3%	37.0%	33.2%	37.0%	47.5%	51.0%	45.5%	38.9%	35.5%	34.1%	29.2%	26.6%	28.6%	27.9%	22.9%	19.9%	21.1%	20.1%	19.6%	29.4%	25.4%	25.8%	32.6%

EPS

Quarterly · US$

EPS US$0.65

Show table：EPS

Item	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
EPS（US$）	—	—	—	—	—	—	0.51	—	0.14	0.24	0.22	0.25	0.37	0.30	0.22	0.28	0.43	0.48	0.30	0.41	0.57	0.49	0.43	0.24	0.54	0.54	0.33	0.31	0.59	0.47	0.48	0.37	0.65

Revenue & profit

Year-to-date · In mn (USD)

Revenue 260 mn Net income 28.4 mn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In mn (USD)

Total assets 473 mn Total liabilities 154 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In mn (USD)

Operating 38.2 mn Investing -82.8 mn Financing 34.7 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Gross margin 43.9% Operating margin 13.9% Net margin 10.9%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 19.5% ROA 13.8% Debt ratio 32.6%

EPS

Year-to-date · US$

EPS US$1.02

Revenue & profit

Annual · In mn (USD)

Revenue 476 mn Net income 51.2 mn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2019	2020	2021	2022	2023	2024	2025
Revenue	130	159	259	324	396	420	476
Gross profit	43.5	54.0	92.7	128	162	177	201
Operating income	17.1	23.4	40.1	53.9	67.0	59.1	62.6
Net income	14.0	18.3	31.6	41.4	52.8	45.5	51.2

Balance sheet

Annual · In mn (USD)

Total assets 383 mn Total liabilities 97.3 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2019	2020	2021	2022	2023	2024	2025
Current assets	36.3	62.8	79.0	107	146	168	231
Total assets	51.6	83.8	161	193	252	286	383
Current liabilities	11.8	21.2	36.3	27.4	36.5	41.5	71.0
Total liabilities	16.7	30.5	76.5	68.6	72.0	60.1	97.3
Equity	35.1	53.4	84.5	125	180	225	280

Cash flow

Annual · In mn (USD)

Operating 66.9 mn Investing -33.8 mn Financing -3.66 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2019	2020	2021	2022	2023	2024	2025
Operating	11.0	18.5	18.3	12.1	37.4	47.8	66.9
Investing	-2.30	-4.66	-56.8	-14.2	-26.4	-18.4	-33.8
Financing	-1.14	3.51	19.2	0.6	-7.26	-19.3	-3.66
Cash at period end	11.5	29.0	9.64	8.06	11.6	22.1	50.9

Profitability

Annual · %

Gross margin 42.2% Operating margin 13.2% Net margin 10.8%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2019	2020	2021	2022	2023	2024	2025
Gross margin	33.5%	34.0%	35.8%	39.4%	41.0%	42.2%	42.2%
Operating margin	13.2%	14.7%	15.5%	16.6%	16.9%	14.1%	13.2%
Net margin	10.8%	11.5%	12.2%	12.8%	13.3%	10.8%	10.8%

Returns & leverage

Annual · %

ROE 20.3% ROA 15.3% Debt ratio 25.4%

Show table：Returns & leverage

Item	2019	2020	2021	2022	2023	2024	2025
ROE	39.9%	41.3%	45.8%	39.6%	34.7%	22.4%	20.3%
ROA	27.1%	27.0%	25.8%	23.4%	23.7%	16.9%	15.3%
Debt ratio	32.4%	36.3%	47.5%	35.5%	28.6%	21.1%	25.4%

EPS

Annual · US$

EPS US$1.85

Show table：EPS

Item	2019	2020	2021	2022	2023	2024	2025
EPS（US$）	—	—	1.14	1.49	1.90	1.65	1.85

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2025	Open full text →
2024	Open full text →
2023	Open full text →

10-K: annual report of a US domestic issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read XPEL, Inc. (XPEL) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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