Filing Flows › Xpel (XPEL) › Q1 2026
Xpel (XPEL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Xpel (XPEL) reported revenue of $117M for the first quarter 2026 (Q1 2026), +13% from a year earlier and -4% from the quarter before. Operating margin was 11.1%, net earnings $10.3M (8.8% of revenue).
Xpel, Q1 2026: revenue $117M (+13% year over year), operating margin 11.1%, net earnings $10.3M, operating cash flow $7.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $117M | -4% | +13% |
| Gross profit | $51.2M | +0.1% | +17% |
| Operating profit | $13.0M | -16% | +17% |
| Net earnings | $10.3M | -23% | +20% |
| Operating cash flow | $7.4M | +177% | +129% |
What changed
Revenue was $117.4M in Q1 2026, up 13% 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 $5.2M year over year (up 9%), 39% of the total change. Cutbank credits declined 43%.
Gross margin was 43.7%, up 1.4 points from Q1 2025. Operating profit was $13.0M, a 11.1% margin (up 0.4 points year over year). Of the extra revenue versus Q1 2025, 14% reached operating profit, above the 11% margin then. Operating expenses grew 17% against revenue growth of 13%. The fastest-growing cost line was Sales & marketing (+28%). Net earnings were $10.3M, up 20% year over year. The effective tax rate was 20.9%.
Operating cash flow was $7.4M (up 129% year over year), 70% of net earnings. Non-cash charges added back $3.7M of depreciation and amortization and $934K of share-based compensation. Working capital and other items used $7.7M. Capital expenditures of $9.7M exceeded it, leaving free cash flow of −$2.3M.
Questions
What was Xpel's revenue in the first quarter 2026?
Xpel (XPEL) reported revenue of $117M for the first quarter 2026 (Q1 2026), +13% from a year earlier and -4% from the quarter before.
Was Xpel profitable in the first quarter 2026?
Operating profit was $13.0M (11.1% of revenue) and net earnings $10.3M.
Source: Xpel 10-Q on SEC EDGAR.