Filing Flows › Xpel (XPEL) › Q2 2026 › vs Q2 2025
Xpel (XPEL) Q2 2026 vs Q2 2025 (year over year)
Xpel's revenue rose $18.3M (+15%) from $125M in Q2 2025 to $143M in Q2 2026. The biggest changes: Product revenue +$16.9M (+18%); Service revenue +$1.5M (+5%). Gross margin 44.1% against 42.9% (+1.2 pts).
Xpel, Q2 2026: revenue $143M (+15% year over year), operating margin 16.2%, net earnings $18.0M, operating cash flow $30.8M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 44.1% | 42.9% | +1.2 pts |
| Operating margin | 16.2% | 15.5% | +0.8 pts |
| Net margin | 12.6% | 13.1% | -0.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Paint protection film | $74.8M | $62.7M | $12.2M | +19% |
| Window film | $32.5M | $28.0M | $4.5M | +16% |
| Installation labor | $25.3M | $22.4M | $2.9M | +13% |
| Other | $4.4M | $4.2M | $223K | +5% |
| Software | $2.3M | $2.2M | $78K | +4% |
| Cutbank credits | $1.9M | $4.5M | −$2.6M | -58% |
| Other | $1.9M | $767K | $1.1M | +144% |
| Product revenue | $112M | $94.8M | $16.9M | +18% |
| Service revenue | $31.4M | $29.9M | $1.5M | +5% |
| Revenue | $143M | $125M | $18.3M | +15% |
| Gross profit | $63.1M | $53.5M | $9.6M | +18% |
| Cost of revenue | $79.9M | $71.2M | $8.7M | +12% |
| Operating profit | $23.2M | $19.3M | $3.9M | +20% |
| Operating expenses | $39.9M | $34.2M | $5.7M | +17% |
| Pre-tax earnings | $23.4M | $20.3M | $3.0M | +15% |
| Sales & marketing | $15.4M | $11.9M | $3.5M | +30% |
| General & admin | $24.5M | $22.4M | $2.2M | +10% |
| Net earnings | $18.0M | $16.3M | $1.7M | +11% |
| Minority interests | $264K | −$82K | $346K | — |
| Income tax | $5.1M | $4.1M | $931K | +23% |
| Depreciation & amortization | $4.0M | $3.1M | $900K | +29% |
| Share-based compensation | $1.3M | $1.0M | $264K | +26% |
| Working capital & other | $7.5M | $7.5M | −$13K | -0.2% |
| Operating cash flow | $30.8M | $27.9M | $2.9M | +10% |
| Capital expenditures | $65.1M | $943K | $64.2M | 69× |
| Negative free cash flow (OCF − capex) | $34.3M | −$26.9M | $61.3M | — |
Questions
How much did Xpel's revenue grow year over year in Q2 2026?
Xpel's revenue rose $18.3M (+15%) from $125M in Q2 2025 to $143M in Q2 2026.
What drove Xpel's revenue change in Q2 2026?
Product revenue +$16.9M (+18%); Service revenue +$1.5M (+5%).