XPEL, Inc. (XPEL) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — XPEL

Balance Sheet

(in millions USD)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	40.67	45.11	64.50	49.59	23.54	20.99	14.98	8.61	10.37	14.30	8.33	10.25	9.32	10.60	7.82	8.73	35.62
Accounts Receivable	53.61	53.52	36.88	38.12	33.36	29.58	29.47	28.57	24.12	23.98	21.35	17.94	19.12	15.18	14.32	12.63	9.90
Inventory	128.01	131.57	128.72	104.13	115.31	101.59	97.59	110.17	92.46	82.71	84.59	69.39	74.14	74.49	39.55	25.73	24.91
Total Current Assets	226.90	237.20	234.53	197.32	178.30	158.72	147.91	152.93	138.04	125.66	120.31	104.64	107.57	104.01	65.99	50.30	72.55
Property, Plant & Equipment	104.46	24.10	16.23	16.88	17.25	17.85	18.00	17.62	15.69	15.52	15.31	12.66	12.17	11.36	8.66	7.56	5.71
Goodwill	61.32	57.40	52.29	46.54	44.44	43.35	43.09	37.66	28.60	28.59	26.82	25.42	25.07	25.61	15.75	15.83	4.51
Intangible Assets	53.70	48.45	56.27	32.49	33.80	33.60	33.24	33.94	29.46	30.59	28.49	29.43	29.78	31.98	21.58	21.90	5.29
Total Non-current Assets*	245.75	157.25	153.16	120.76	116.52	114.32	113.92	105.56	88.74	91.01	87.36	83.62	81.49	84.25	58.41	55.08	22.79
Total Assets	472.65	394.45	387.70	318.07	294.82	273.04	261.83	258.49	226.78	216.66	207.67	188.26	189.06	188.26	124.40	105.37	95.34
Accounts Payable	57.16	61.37	52.23	38.96	34.38	31.63	26.24	27.61	42.06	31.19	20.54	28.05	36.59	42.36	31.65	21.96	21.36
Short-term Debt	1.34	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--
Total Current Liabilities	86.94	77.22	84.35	44.63	41.58	36.52	31.03	31.82	46.55	35.40	27.63	31.82	40.42	47.10	34.99	25.00	26.11
Long-term Debt	43.46	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--
Total Non-current Liabilities*	67.16	24.63	29.50	17.79	17.79	17.79	28.89	40.25	13.68	27.96	43.28	41.49	45.56	48.92	11.01	9.94	9.21
Total Liabilities	154.09	101.86	113.84	62.41	59.37	54.31	59.92	72.07	60.22	63.35	70.91	73.31	85.98	96.02	46.00	34.94	35.32
Retained Earnings	293.72	275.68	251.93	238.99	222.70	205.22	190.32	175.29	156.65	143.00	127.26	107.47	94.15	82.25	68.24	59.91	49.72
Total Stockholder Equity	306.13	287.51	269.28	255.74	235.45	218.73	201.91	186.42	166.55	153.31	136.76	114.95	103.08	92.24	78.41	70.43	60.02

* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Total Revenue	143.05	117.35	122.27	125.42	124.71	103.81	107.53	112.85	109.92	90.10	105.54	102.68	102.24	85.84	78.48	89.76	83.89	71.86	70.13	68.53
Cost of Revenue	79.91	66.12	71.08	72.99	71.20	59.91	63.82	64.94	62.05	52.23	64.61	61.15	58.24	49.88	47.43	53.99	50.91	44.15	45.44	44.07
Gross Profit	63.14	51.23	51.18	52.42	53.52	43.90	43.70	47.92	47.87	37.88	40.93	41.53	43.99	35.96	31.05	35.77	32.98	27.72	24.69	24.45
Selling, General & Admin	24.54	23.06	22.10	21.88	22.36	20.90	19.85	18.89	18.40	18.26	17.47	16.17	15.66	14.35	13.35	12.16	11.33	11.37	10.87	9.18
Total Operating Expenses	39.92	38.22	35.70	35.67	34.22	32.78	31.36	29.53	28.68	28.65	26.71	23.90	23.80	21.03	20.20	18.46	17.23	17.68	16.16	14.09
Operating Income	23.22	13.01	15.48	16.75	19.30	11.12	12.35	18.39	19.19	9.23	14.22	17.63	20.19	14.93	10.85	17.31	15.75	10.04	8.53	10.37
Interest Expense	--	--	--	--	--	--	--	--	--	0.47	0.30	0.09	0.34	0.52	0.48	0.39	0.32	0.22	0.16	0.05
Pretax Income	23.36	13.29	15.81	16.64	20.33	11.28	11.15	18.62	18.52	8.48	14.65	17.15	19.82	14.42	10.64	16.54	14.97	9.81	8.12	10.17
Tax Provision	5.05	2.78	2.15	3.51	4.12	2.69	2.26	3.73	3.49	1.82	2.68	3.49	4.08	2.98	2.28	3.23	3.07	2.01	1.91	1.84
Net Income	18.04	10.35	13.41	12.94	16.29	8.59	8.90	14.89	15.03	6.67	11.97	13.66	15.74	11.43	8.36	13.32	11.90	7.80	6.20	8.33
Basic EPS	0.65	0.37	0.48	0.47	0.59	0.31	0.33	0.54	0.54	0.24	0.44	0.49	0.57	0.41	0.31	0.48	0.43	0.28	0.22	0.30
Diluted EPS	0.65	0.37	0.48	0.47	0.59	0.31	0.33	0.54	0.54	0.24	0.44	0.49	0.57	0.41	0.31	0.48	0.43	0.28	0.22	0.30

Cash Flow Statement

(in millions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Operating Cash Flow	30.79	7.38	2.67	33.15	27.89	3.23	6.33	19.56	26.90	(4.96)	(1.12)	11.13	26.68	0.70	2.36	12.22	1.78	(4.31)	(1.91)	1.10
Capital Expenditures	65.11	9.72	1.07	0.99	0.94	1.00	1.63	1.26	1.81	2.02	1.62	1.44	1.25	2.06	2.40	1.51	1.75	2.27	1.64	1.62
Free Cash Flow*	(34.32)	(2.34)	1.59	32.17	26.95	2.23	4.70	18.30	25.09	(6.98)	(2.73)	9.69	25.43	(1.36)	(0.04)	10.71	0.03	(6.58)	(3.55)	(0.52)
Investing Cash Flow	(72.88)	(9.89)	(12.99)	(17.88)	(1.35)	(1.56)	(5.42)	(2.39)	(7.48)	(3.11)	(16.14)	(1.96)	(5.89)	(2.36)	(4.33)	(5.23)	(2.00)	(2.59)	(21.12)	(2.05)
Financing Cash Flow	38.30	(3.57)	(3.23)	(0.17)	(0.09)	(0.17)	(0.03)	(11.10)	(13.10)	4.99	18.99	(13.14)	(15.03)	1.92	(0.06)	(6.04)	(1.19)	7.89	24.83	(0.17)

* Derived from reported values