XPEL · XPEL, Inc.

XPEL delivered a solid first quarter in 2026, with revenue increasing 13.1% to $117.4 million, driven by broad-based growth across product and service lines. Product revenue rose 12.7% to $88.7 million, while service revenue grew 14.1% to $28.6 million. Notably, window film revenue surged 24.8% and represented 19.8% of total revenue, reflecting strong demand. Geographically, the US grew 9.9%, while China led international growth with a 44.4% increase. Gross margin improved 140 basis points to 43.7%, benefiting from favorable product mix and cost efficiencies. Operating expenses increased 16.6% to $38.2 million, with sales and marketing up 27.7% as the company invested in growth. Operating income rose 17.0% to $13.0 million. Net income attributable to stockholders increased 20.5% to $10.3 million, with diluted EPS of $0.37. EBITDA grew 17.8% to $17.0 million, representing 14.5% of revenue. Cash flow from operations more than doubled to $7.4 million, driven by higher net income and working capital improvements. The company provided Q2 2026 revenue guidance of $135-$137 million, indicating continued momentum. Management remains focused on executing strategic initiatives and driving operating leverage.