Filing Flows › Xpel (XPEL) › Q3 2026 › vs Q3 2025
Xpel (XPEL) Q3 2026 vs Q3 2025 (year over year)
Xpel's revenue rose $12.4M (+10%) from $125M in Q3 2025 to $138M in Q3 2026. The biggest changes: Product revenue +$13.3M (+14%); Service revenue −$862K (-3%). Gross margin 44.6% against 41.8% (+2.8 pts).
Xpel, Q3 2026: revenue $138M (+10% year over year), operating margin 15.3%, net earnings $16.3M, operating cash flow $21.1M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 44.6% | 41.8% | +2.8 pts |
| Operating margin | 15.3% | 13.4% | +1.9 pts |
| Net margin | 11.9% | 10.3% | +1.5 pts |
| Free cash flow margin | 13.9% | 25.6% | -11.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Paint protection film | $73.5M | $63.5M | $10.0M | +16% |
| Window film | $30.9M | $27.6M | $3.3M | +12% |
| Installation labor | $24.3M | $22.1M | $2.2M | +10% |
| Other | $4.3M | $4.3M | −$3K | -0.1% |
| Software | $2.8M | $2.2M | $589K | +27% |
| Other | $1.1M | $1.4M | −$302K | -22% |
| Cutbank credits | $957K | $4.3M | −$3.3M | -78% |
| Product revenue | $109M | $95.5M | $13.3M | +14% |
| Service revenue | $29.1M | $30.0M | −$862K | -3% |
| Revenue | $138M | $125M | $12.4M | +10% |
| Gross profit | $61.5M | $52.4M | $9.1M | +17% |
| Cost of revenue | $76.3M | $73.0M | $3.3M | +5% |
| Operating profit | $21.1M | $16.8M | $4.3M | +26% |
| Operating expenses | $40.4M | $35.7M | $4.8M | +13% |
| Pre-tax earnings | $21.2M | $16.6M | $4.5M | +27% |
| Sales & marketing | $15.0M | $13.8M | $1.2M | +9% |
| General & admin | $25.4M | $21.9M | $3.6M | +16% |
| Net earnings | $16.3M | $12.9M | $3.4M | +26% |
| Minority interests | $367K | $195K | $172K | +88% |
| Income tax | $4.5M | $3.5M | $961K | +27% |
| Depreciation & amortization | $4.0M | $3.3M | $700K | +21% |
| Share-based compensation | $1.1M | $1.1M | $61K | +6% |
| Working capital & other | $400K | −$15.8M | $16.2M | — |
| Operating cash flow | $21.1M | $33.2M | −$12.1M | -36% |
| Free cash flow (OCF − capex) | $19.2M | $32.2M | −$13.0M | -40% |
| Capital expenditures | $1.9M | $988K | $884K | +89% |
Questions
How much did Xpel's revenue grow year over year in Q3 2026?
Xpel's revenue rose $12.4M (+10%) from $125M in Q3 2025 to $138M in Q3 2026.
What drove Xpel's revenue change in Q3 2026?
Product revenue +$13.3M (+14%); Service revenue −$862K (-3%).