Filing Flows › Xpel (XPEL) › Q4 2025
Xpel (XPEL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Xpel (XPEL) reported revenue of $122M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and -3% from the quarter before. Operating margin was 12.7%, net earnings $13.4M (11.0% of revenue).
Xpel, Q4 2025: revenue $122M (+14% year over year), operating margin 12.7%, net earnings $13.4M, operating cash flow $2.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $122M | -3% | +14% |
| Gross profit | $51.2M | -2% | +17% |
| Operating profit | $15.5M | -8% | +25% |
| Net earnings | $13.4M | +4% | +51% |
| Operating cash flow | $2.7M | -92% | -58% |
| Free cash flow | $1.6M | -95% | -66% |
What changed
Revenue was $122.3M in Q4 2025, up 14% year over year and down 3% from the previous quarter. Paint protection film was the largest line at 55% of revenue.
Gross margin was 41.9%, up 1.2 points from a year earlier. Operating profit was $15.5M, a 12.7% margin (up 1.2 points year over year). Of the extra revenue versus a year earlier, 21% reached operating profit, above the 11% margin then. Operating expenses grew 14% against revenue growth of 14%. The fastest-growing cost line was Sales & marketing (+18%). Net earnings were $13.4M, up 51% year over year. The effective tax rate was 13.6%.
Operating cash flow was $2.7M (down 58% year over year), 20% of net earnings. Non-cash charges added back $3.8M of depreciation and amortization. Working capital and other items used $14.8M. Capital expenditures of $1.1M left free cash flow of $1.6M.
Questions
What was Xpel's revenue in the fourth quarter 2025?
Xpel (XPEL) reported revenue of $122M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and -3% from the quarter before.
Was Xpel profitable in the fourth quarter 2025?
Operating profit was $15.5M (12.7% of revenue) and net earnings $13.4M.
Source: Xpel 10-K on SEC EDGAR.