XPEL Reports Record Revenue in Q2 2025

XPEL, Inc., a global provider of protective films and coatings, has reported its financial results for the second quarter of 2025. The company has shown significant growth in revenue and net income, despite facing some one-time charges related to restructuring and acquisition strategies.

Financial Highlights

For the second quarter of 2025, XPEL reported a revenue increase of 13.5% year-over-year, reaching $124.7 million. The gross margin stood at 42.9%, slightly down from 43.5% in the same period last year. EBITDA increased by 7.1% to $23.4 million, representing 18.7% of revenue. Net income rose by 7.8% to $16.2 million, or $0.59 per share, compared to $15.0 million, or $0.54 per share, in the second quarter of 2024.

Business and Operational Highlights

XPEL saw record revenue in the United States, Europe, and the Middle East. Product revenue increased by 13.9% year-over-year, making up 76.0% of total revenue. Window film revenue saw a significant rise of 27.0% year-over-year, accounting for 22.4% of total revenue. Service revenue also grew by 12.0% year-over-year, representing 24.0% of total revenue.

Strategic Initiatives and Corporate Developments

The company incurred approximately $1.6 million in one-time charges related to restructuring costs, legal and due diligence costs associated with its acquisition strategy, and other expenses. Normalizing for these costs, EBITDA would have increased by 14.7% to $25.0 million, or 20.0% of revenue. XPEL continues to focus on its growth strategy, including geographical expansion and product diversification.

Management's Perspective

Ryan Pape, President and CEO of XPEL, commented, "We saw good revenue momentum in the first half of the year and I am pleased with our first half performance in this environment. We look forward to building on this momentum for the rest of the year."

Future Outlook

Looking ahead, XPEL expects third-quarter 2025 revenue to be approximately $117 - $119 million. The company remains optimistic about its growth prospects and aims to continue its positive performance in the upcoming quarters.

SEC Filing: XPEL, Inc. [ XPEL ] - 8-K - Aug. 06, 2025