XPEL, Inc. (XPEL)

In August 2025, XPEL reported strong second-quarter financial results, with revenue climbing 13.5% year-over-year and earnings per share (EPS) surpassing expectations, and announced a $50 million share repurchase program. In September 2025, the acquisition of its exclusive Chinese aftermarket distributor was announced. In November 2025, XPEL reported an 11.1% revenue growth in the third quarter and announced strategic investments in manufacturing and supply chain, while also debuting its COLOR PPF at SEMA 2025. Management projected Q4 2025 revenue between $123-125 million, implying a full-year 2025 growth of 13-14%. As of February 6, 2026, XPEL's stock price was $51.93, with a 52-week range between $24.25 and $55.84.

Demand for XPEL's products and services exhibits seasonality, with the second and third quarters being the peak revenue quarters. The fourth quarter often experiences a slight sequential decline in the U.S. business, and the first quarter tends to have higher operating expenses. Factors such as the new car market's Seasonally Adjusted Annual Rate (SAAR) and the expiration of the EV tax credit can also influence demand.

XPEL, Inc. develops, manufactures, and distributes high-performance protective films and coatings, primarily automotive paint protection films (PPF). The company's product portfolio includes surface protection film, automotive and architectural window films, and ceramic coatings. XPEL's Design Access Program (DAP) software provides vehicle-specific patterns for precise film cutting and installation. The company operates within the Consumer Durables sector, specifically the Automotive Aftermarket industry.

XPEL has a global presence with over 16,000 trained installers across more than 75 countries. North America contributes an estimated 60% of its total revenue. The company has a direct distribution model in key international markets, including the United States, Canada, China, other parts of Asia, Europe, the United Kingdom, Africa, and Latin America. In September 2025, XPEL acquired the assets of its exclusive aftermarket distributor in China to enhance direct involvement and facilitate growth in OEM and 4S channels.

XPEL has a strong brand reputation, particularly among luxury car owners and enthusiasts, enabling it to command premium pricing and maintain healthy gross margins. The company is recognized for its high-quality products, leading customer service, expert technical support, and world-class training. XPEL has reinforced its reputation through a dealership survey highlighting the value of PPF, the debut of COLOR PPF at SEMA 2025, and incorporating sustainability into its mission.

XPEL, Inc. has a diverse ownership structure, including institutional, retail, and individual investors. Major institutional shareholders include BlackRock, Inc., Wasatch Advisors Inc, Vanguard Group Inc, iShares Core S&P Small-Cap ETF, SCS Capital Management LLC, Schwartz Investment Counsel Inc, and State Street Corp. Key individual insiders with significant holdings include Ryan Pape (Chairman, President, and CEO) and Richard K. Crumly (Director).