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Xpel (XPEL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Xpel (XPEL) Q3 2026 earnings results →
Q3 2026 Revenue up 10% year over year to $138M · 12¢ of every $1 of revenue kept as net profit · operating margin 15.3%
Xpel made $138M in Q3 2026 (+10% Y/Y): Product revenue $109M, Service revenue $29.1M. Operating margin 15.3%, net earnings $16.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
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What changed this quarter
Revenue was $137.8M in Q3 2026, up 10% year over year and down 4% from the previous quarter. Paint protection film was the largest line at 53% of revenue. Paint protection film added $10.0M year over year (up 16%), 81% of the total change. Cutbank credits declined 78%.
Gross margin was 44.6%, up 2.8 points from Q3 2025. Operating profit was $21.1M, a 15.3% margin (up 1.9 points year over year). Of the extra revenue versus Q3 2025, 35% reached operating profit, above the 13% margin then. Operating expenses grew 13% against revenue growth of 10%. The fastest-growing cost line was General & admin (+16%). Net earnings were $16.3M, up 26% year over year. The effective tax rate was 21.1%.
Operating cash flow was $21.1M (down 36% year over year), 126% of net income including minority interests. Non-cash charges added back $4.0M of depreciation and amortization and $1.1M of share-based compensation. Capital expenditures of $1.9M left free cash flow of $19.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $138M | +10% | 15.3% | $16.3M | $21.1M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $143M | +15% | 16.2% | $18.0M | $30.8M |
| Q1 2026 | 10-Q | May 8, 2026 | $117M | +13% | 11.1% | $10.3M | $7.4M |
| Q4 2025 | 10-K | Feb 27, 2026 | $122M | +14% | 12.7% | $13.4M | $2.7M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $125M | +11% | 13.4% | $12.9M | $33.2M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $125M | +14% | 15.5% | $16.2M | $27.9M |
| Q1 2025 | 10-Q | May 9, 2025 | $104M | +15% | 10.7% | $8.6M | $3.2M |
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Xpel
We are a supplier of protective films, coatings and related services primarily to the automobile aftermarket, new car dealerships and automobile original equipment manufacturers, or OEMs. The majority of our revenue is derived from the sale of our automotive products and related services while the remainder of our revenue is derived from non-automotive products including architectural window film and marine and flat surface protection films. The Company began as a software company designing vehicle patterns used to produce cut-to-fit protective film for headlights and painted surfaces of automobiles. In 2007, we began selling automotive paint protection film products to complement our software business.
In its own words, from its 10-K, filed Feb 27, 2026.
Xpel against its Coating, Engraving & Allied Services peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| XPEL Xpel | Q3 2026 | $138M | +10% | 15.3% |
| AZZ AZZ | Q2 FY27 | $487M | +17% | 17.2% |
Source: Xpel 10-Q on SEC EDGAR · CIK 1767258 · Coating, Engraving & Allied Services
Guidance and outlook
13F: who owns XPEL and who is buying
More on XPEL
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results