XPEL on Nasdaq
XPEL, Inc.
In its 2026 annual report the company says: “We are a supplier of protective films, coatings and related services primarily to the automobile aftermarket, new car dealerships and automobile original equipment manufacturers, or OEMs. The Company began as a software company designing vehicle patterns used to produce cut-to-fit protective film for headlights and painted surfaces of automobiles.”4 It is headquartered in San Antonio, Texas.1 Its shares trade on Nasdaq under the symbol XPEL.1
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Last updated Oct 21, 2026.
Overview
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- TickerXPEL on Nasdaq1
- IndustryCoating, Engraving & Allied Services1
- HeadquartersSan Antonio, Texas1
- Incorporated inNV2
- Business address711 Broadway St., Suite 320, San Antonio, Tx 782152
- Filer categoryLarge accelerated filer2
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We are a supplier of protective films, coatings and related services primarily to the automobile aftermarket, new car dealerships and automobile original equipment manufacturers, or OEMs. The majority of our revenue is derived from the sale of our automotive products and related services while the remainder of our revenue is derived from non-automotive products including architectural window film and marine and flat surface protection films.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
42.2%Gross margin5
13.2%Operating margin5
10.8%Net margin5
13.3%Revenue growth, 20255
18.3%Return on equity5
$62.9MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product Revenue, Paint Protection Film brought in 52% of the revenue XPEL, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Product Revenue, Paint Protection Film | $229.9M | $226.7M | $249.4M |
| Product Revenue, Window Film | $68.0M | $77.7M | $94.5M |
| Service Revenue, Installation Labor | $58.5M | $74.5M | $87.0M |
| Service Revenue, Cutbank Credits | $17.6M | $17.0M | $16.5M |
| Product Revenue, Other | $13.6M | $14.5M | $15.9M |
| Service Revenue, Software | $6.5M | $8.1M | $8.7M |
| Service Revenue, Other | $2.3M | $2.0M | $4.0M |
Regions
United States brought in 56% of the revenue XPEL, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $224.8M | $240.6M | $265.8M |
| EU, UK, And Africa | $48.8M | $54.0M | $64.1M |
| Canada | $43.5M | $52.1M | $49.5M |
| China | $41.6M | $24.1M | $39.9M |
| India And Middle East | $16.8M | $21.1M | $25.0M |
| Asia, Other | $11.9M | $16.8M | $20.9M |
| Latin America | $8.8M | $11.7M | $11.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue58¢$275.2M
- Research and development1¢$2.9M
- Other costs28¢$134.4M
- Income tax3¢$12.5M
- Profit11¢$51.2M
Out of $476.2M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Capital spending6¢$4.0M
- Share buybacks4¢$3.0M
- Kept or used elsewhere90¢$59.9M
Out of $66.9M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $476.2M | $420.4M | $396.3M |
| Total cost of sales | $275.2M | $243.0M | $233.9M |
| Gross Margin | $201.0M | $177.4M | $162.4M |
| Sales and marketing | $51.1M | $42.8M | $31.8M |
| General and administrative | $87.2M | $75.4M | $63.7M |
| Total operating expenses | $138.4M | $118.2M | $95.4M |
| Operating Income | $62.6M | $59.1M | $67.0M |
| Interest expense | $83.0K | $996.0K | $1.2M |
| Foreign currency exchange (gain)/loss | -$1.5M | $1.4M | -$307.0K |
| Income before income taxes | $64.1M | $56.8M | $66.0M |
| Income tax expense | $12.5M | $11.3M | $13.2M |
| Net Income | $51.6M | $45.5M | $52.8M |
| Net income attributed to non-controlling interest | $363.0K | $0 | $0 |
| Net income attributable to stockholders of the Company | $51.2M | $45.5M | $52.8M |
| Basic (in dollars per share) | $1.85 | $1.65 | $1.91 |
| Diluted (in dollars per share) | $1.85 | $1.65 | $1.91 |
| Basic (in shares) | 27.7M shares | 27.6M shares | 27.6M shares |
| Diluted (in shares) | 27.7M shares | 27.6M shares | 27.6M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $50.9M | $22.1M | ||
| Accounts receivable, net | $49.8M | $29.1M | ||
| Inventory, net | $122.8M | $110.9M | ||
| Prepaid expenses and other current assets | $6.7M | $5.3M | ||
| Income tax receivable | $581.0K | $893.0K | ||
| Total current assets | $230.7M | $168.3M | ||
| Property and equipment, net | $15.8M | $17.7M | ||
| Right-of-use lease assets | $21.6M | $19.5M | ||
| Intangible assets, net | $49.6M | $34.6M | ||
| Other non-current assets | $5.6M | $1.4M | ||
| Goodwill | $59.3M | $44.1M | $37.5M | |
| Total assets | $382.5M | $285.6M | ||
| Current portion of notes payable | $59.0K | $63.0K | ||
| Current portion of lease liabilities | $6.1M | $4.7M | ||
| Accounts payable and accrued liabilities | $54.3M | $36.1M | ||
| Other short-term liabilities | $10.6M | $651.0K | ||
| Total current liabilities | $71.0M | $41.5M | ||
| Deferred tax liability, net | $120.0K | $469.0K | ||
| Other long-term liabilities | $9.5M | $1.8M | ||
| Non-current portion of lease liabilities | $16.7M | $16.1M | ||
| Non-current portion of notes payable | $0 | $229.0K | ||
| Total liabilities | $97.3M | $60.2M | ||
| Preferred stock, $0.001 par value; authorized 10,000,000; none issued and outstanding | $0 | $0 | ||
| Common stock, $0.001 par value; 100,000,000 shares authorized; 27,682,807 and 27,651,773 issued, respectively | $28.0K | $28.0K | ||
| Additional paid-in-capital | $18.0M | $15.6M | ||
| Accumulated other comprehensive loss | -$135.0K | -$4.2M | ||
| Retained earnings | $265.3M | $214.1M | ||
| Treasury stock, 78,624 shares at cost | -$3.0M | $0 | ||
| Stockholders equity | $280.3M | $225.5M | ||
| Non-controlling interest | $4.9M | $0 | ||
| Total stockholders equity | $285.2M | $225.5M | $180.0M | $124.7M |
| Total liabilities and stockholders equity | $382.5M | $285.6M | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Common stock shares issued (in shares) | 27.7M shares | 27.7M shares | ||
| Common stock shares outstanding (in shares) | 27.6M shares | 27.7M shares | ||
| Treasury stock (in shares) | 78.6K shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $50.9M | $22.1M | ||
| Accounts receivable, net | $49.8M | $29.1M | ||
| Inventory, net | $122.8M | $110.9M | ||
| Prepaid expenses and other current assets | $6.7M | $5.3M | ||
| Income tax receivable | $581.0K | $893.0K | ||
| Total current assets | $230.7M | $168.3M | ||
| Property and equipment, net | $15.8M | $17.7M | ||
| Right-of-use lease assets | $21.6M | $19.5M | ||
| Intangible assets, net | $49.6M | $34.6M | ||
| Other non-current assets | $5.6M | $1.4M | ||
| Goodwill | $59.3M | $44.1M | $37.5M | |
| Total assets | $382.5M | $285.6M | ||
| Current portion of notes payable | $59.0K | $63.0K | ||
| Current portion of lease liabilities | $6.1M | $4.7M | ||
| Accounts payable and accrued liabilities | $54.3M | $36.1M | ||
| Other short-term liabilities | $10.6M | $651.0K | ||
| Total current liabilities | $71.0M | $41.5M | ||
| Deferred tax liability, net | $120.0K | $469.0K | ||
| Other long-term liabilities | $9.5M | $1.8M | ||
| Non-current portion of lease liabilities | $16.7M | $16.1M | ||
| Non-current portion of notes payable | $0 | $229.0K | ||
| Total liabilities | $97.3M | $60.2M | ||
| Preferred stock, $0.001 par value; authorized 10,000,000; none issued and outstanding | $0 | $0 | ||
| Common stock, $0.001 par value; 100,000,000 shares authorized; 27,682,807 and 27,651,773 issued, respectively | $28.0K | $28.0K | ||
| Additional paid-in-capital | $18.0M | $15.6M | ||
| Accumulated other comprehensive loss | -$135.0K | -$4.2M | ||
| Retained earnings | $265.3M | $214.1M | ||
| Treasury stock, 78,624 shares at cost | -$3.0M | $0 | ||
| Stockholders equity | $280.3M | $225.5M | ||
| Non-controlling interest | $4.9M | $0 | ||
| Total stockholders equity | $285.2M | $225.5M | $180.0M | $124.7M |
| Total liabilities and stockholders equity | $382.5M | $285.6M | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Common stock shares issued (in shares) | 27.7M shares | 27.7M shares | ||
| Common stock shares outstanding (in shares) | 27.6M shares | 27.7M shares | ||
| Treasury stock (in shares) | 78.6K shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net Income | $51.6M | $45.5M | $52.8M |
| Depreciation of property, plant and equipment | $6.3M | $5.8M | $4.5M |
| Amortization of intangible assets | $7.0M | $5.9M | $5.1M |
| Gain on sale of property and equipment | -$13.0K | -$49.0K | -$13.0K |
| Stock compensation | $2.8M | $3.2M | $1.6M |
| Provision for credit losses | $922.0K | $390.0K | $243.0K |
| Deferred income tax | -$299.0K | -$2.7M | -$921.0K |
| Accounts receivable, net | -$20.4M | -$5.6M | -$7.0M |
| Inventory, net | $11.5M | -$4.8M | -$24.8M |
| Prepaid expenses and other current assets | -$3.9M | -$2.2M | $604.0K |
| Income taxes receivable and payable | $249.0K | -$267.0K | -$1.2M |
| Accounts payable and accrued liabilities | $11.3M | $2.7M | $6.5M |
| Net cash provided by operating activities | $66.9M | $47.8M | $37.4M |
| Purchases of property, plant and equipment | -$4.0M | -$6.7M | -$6.4M |
| Proceeds from sale of property and equipment | $48.0K | $40.0K | $29.0K |
| Acquisition of businesses, net of cash acquired | -$26.2M | -$9.9M | -$18.7M |
| Purchases of long term investments | -$2.1M | $0 | $0 |
| Development of intangible assets | -$1.6M | -$1.9M | -$1.3M |
| Net cash used in investing activities | -$33.8M | -$18.4M | -$26.4M |
| Net payments on revolving line of credit | $0 | -$19.0M | -$7.0M |
| Restricted stock withholding taxes paid in lieu of issued shares | -$254.0K | -$193.0K | -$167.0K |
| Repayments of notes payable | -$243.0K | -$60.0K | -$92.0K |
| Payments of deferred acquisition consideration | -$161.0K | $0 | $0 |
| Purchases of treasury shares | -$3.0M | $0 | $0 |
| Net cash used in financing activities | -$3.7M | -$19.3M | -$7.3M |
| Net change in cash and cash equivalents | $29.5M | $10.2M | $3.8M |
| Foreign exchange impact on cash and cash equivalents | -$726.0K | $311.0K | -$219.0K |
| Increase in cash and cash equivalents during the period | $28.8M | $10.5M | $3.6M |
| Non-cash acquisition consideration | $24.1M | $1.6M | $0 |
| Non-cash lease financing | $6.6M | $8.7M | $4.2M |
| Issuance of Common Stock for vested restricted stock units | $1.2M | $1.1M | $1.0M |
| Non-cash minority interest contribution | $4.5M | $0 | $0 |
| Cash paid for income taxes | $12.5M | $13.6M | $15.3M |
| Cash paid for interest | $89.0K | $1.0M | $1.2M |
No quarter-by-quarter statement was filed.
Corporate structure
XPEL, Inc. sits at the top of its group. 10 entities, 9 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of XPEL, Inc.
- WASATCH ADVISORS LP Filed SCHEDULE 13G/A on XPEL, Inc., latest Oct 9, 2026 (9 filings since Feb 11, 2022)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on XPEL, Inc., latest Sep 3, 2026 (2 filings since Feb 13, 2024)
- Alta Fox Opportunities Fund, LP Filed SCHEDULE 13G/A on XPEL, Inc., latest May 15, 2026 (2 filings since Nov 24, 2025)
- BlackRock Filed SC 13G/A on XPEL, Inc., latest Nov 8, 2024 (5 filings since Jul 8, 2022)
- Richard K. Crumly Filed SC 13G/A on XPEL, Inc., latest Feb 14, 2024 (3 filings since Feb 14, 2022)
- Jason Hirschman Filed SC 13G/A on XPEL, Inc., latest Jan 30, 2024 (3 filings since Jan 31, 2022)
- Neuberger Berman Filed SC 13G/A on XPEL, Inc., latest Dec 8, 2023 (3 filings since Feb 11, 2022)
- Mark Adams Filed SC 13G/A on XPEL, Inc., latest Feb 10, 2023 (2 filings since Feb 14, 2022)
- XPEL, Inc. San Antonio, Texas
- XPEL Australia Pty Ltd Subsidiary · Australia
- XPEL Canada Corp. Subsidiary · Canada
- XPEL de Mexico S. de R.L. de C.V. Subsidiary · Mexico
- XPEL Germany GmbH Subsidiary · Germany
- XPEL India Pvt Ltd Subsidiary · India
- XPEL Italia SRL Subsidiary · Italy
- XPEL New Materials Technology Shanghai Ltd Subsidiary · China
- XPEL Protective Film Shanghai Ltd Subsidiary · China
- XPEL Slovakia s.r.o Subsidiary · Slovakia
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What XPEL, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $39.7M5 Dec 31, 2025 | $35.0M5 Dec 31, 2024 | +13.4% |
| Accumulated depreciation | $23.9M5 Dec 31, 2025 | $17.2M5 Dec 31, 2024 | +38.5% |
| Property and equipment, net | $15.8M5 Dec 31, 2025 | $17.7M5 Dec 31, 2024 | −10.9% |
| Operating-lease assets (leased space) | $21.6M5 Dec 31, 2025 | $19.5M5 Dec 31, 2024 | +10.6% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $50.9M5 Dec 31, 2025 | $22.1M5 Dec 31, 2024 | +130.3% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $59.3M5 Dec 31, 2025 | $44.1M5 Dec 31, 2024 | +34.3% |
| Finite-lived intangibles, gross | $78.1M5 Dec 31, 2025 | $55.7M5 Dec 31, 2024 | +40.3% |
| Accumulated amortization | $28.5M5 Dec 31, 2025 | $21.1M5 Dec 31, 2024 | +34.9% |
| Finite-lived intangibles, net | $49.6M5 Dec 31, 2025 | $34.6M5 Dec 31, 2024 | +43.6% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $122.8M5 Dec 31, 2025 | $110.9M5 Dec 31, 2024 | +10.7% |
| Raw materials | $15.6M5 Dec 31, 2025 | $18.7M5 Dec 31, 2024 | −16.4% |
| Work in process | $1.8M5 Dec 31, 2025 | $2.7M5 Dec 31, 2024 | −31.4% |
| Finished goods | $105.3M5 Dec 31, 2025 | $89.6M5 Dec 31, 2024 | +17.6% |
Properties, in its own words
Our principal office is located in leased premises in San Antonio, Texas. Our operations are conducted in facilities throughout North America, Europe, Asia and Australia. These facilities house production, distribution and operations, installation services, sales and marketing, and administrative functions. A summary of our principal facilities as of December 31, 2025 is set forth in the chart below.
Country or Region · Installation and Sales Locations · Warehouse Locations · Administrative, Training, and Other Locations · Leased Square Footage
The rest of Item 2
United States · 20 · 3 · 1 · 349,105
Continental Europe · 4 · 2 · 3 · 90,938
Canada · 13 · 4 · 3 · 121,342
Mexico · 1 · 1 · — · 13,659
United Kingdom · 1 · 1 · — · 14,835
Asia and Asia Pacific · 13 · 6 · 3 · 251,229
We believe that our facilities are suitable for their purpose and are sufficient to support our current business needs.
Item 2 of the 10-K filed Feb 27, 2026.4
Leadership
Who has led XPEL, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
20202025
- Chief executive officerRyan Pape Jul 30, 2019 to now14
- PresidentRyan Pape Jul 30, 2019 to now14
- Chief financial officerBarry Wood Jul 30, 2019 to now15
Board members and other officers (9)
- SVP, Gen. Counsel, & SecretaryBabatunde Awodiran May 3, 2023 to Jun 20, 202416
- Sr. VP of Sales and ProductsMathieu Moreau Jun 9, 2021 to Nov 1, 202317
- Board memberJohn F. North Aug 29, 2023 to now18
- Board memberStacy L. Bogart Apr 1, 2022 to now19
- Board memberRichard K. Crumly Jul 29, 2019 to now20
- Board memberJohn Constantine Jul 30, 2019 to Jul 15, 202121
- Board memberMike Klonne Jul 30, 2019 to now22
- Board memberRyan Pape Jul 30, 2019 to now14
- General counselBrooks Meltzer Jun 2, 2020 to Sep 9, 202223
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- XPEL Australia Pty Ltd Australia3
- XPEL B.V. Netherlands3
- XPEL Canada Corp. Canada3
- XPEL Germany GmbH Germany3
- XPEL Inc Nevada, USA3
- XPEL India Pvt Ltd India3
- XPEL Italia SRL Italy3
- XPEL New Materials Technology Shanghai Ltd China3
- XPEL Protective Film Shanghai Ltd China3
- XPEL Slovakia s.r.o Slovakia3
- XPEL de Mexico S. de R.L. de C.V. Mexico3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 5, 20268-K Results of operations24
- Jul 31, 20268-K Executive or director change25
- Jun 15, 20268-K Shareholder vote26
- May 20, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation27
- May 6, 20268-K Results of operations28
- Apr 29, 20268-K Executive or director change29
- Feb 25, 20268-K Results of operations30
- Feb 25, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed; Other events31
- Nov 5, 20258-K Results of operations32
- Nov 4, 20258-K Change to shareholders' rights; Bylaws or fiscal year changed33
- Sep 17, 20258-K Entered a material agreement; New debt or obligation34
- Aug 6, 20258-K Results of operations35
- Jul 30, 2019New chief executive Ryan Pape becomes CEO14
Calendar
Coming up
- Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.47 a share, on Nov 5, 2025.36
When it reported results
- Aug 5, 2026Reported quarterly or annual results24
- May 6, 2026Reported quarterly or annual results28
- Feb 25, 2026Reported quarterly or annual results30
- Nov 5, 2025Reported quarterly or annual results32
- Aug 6, 2025Reported quarterly or annual results35
- May 6, 2025Reported quarterly or annual results37
- Feb 26, 2025Reported quarterly or annual results38
- Nov 7, 2024Reported quarterly or annual results39
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
382 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 54 major events, 237 insider forms, 29 large holders, 42 other. The latest 20:
- Oct 9, 2026SCHEDULE 13G/A EDGAR
- Oct 5, 20264 EDGAR
- Oct 5, 20264 EDGAR
- Sep 11, 20264 EDGAR
- Sep 11, 20264 EDGAR
- Sep 3, 2026SCHEDULE 13G/A EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 5, 20268-K EDGAR
- Jul 31, 20264 EDGAR
- Jul 31, 20268-K EDGAR
- Jun 23, 20264 EDGAR
- Jun 23, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 15, 2026S-8 POS EDGAR
- Jun 15, 20268-K EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
The 382 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
199 open-market trades by officers, directors and large owners since October 2021: 2 buys and 197 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 16, 2025 | Klonne MikeDirector | Sale | 5,000 | $37.46 | $187.3K | Form 4 |
| Dec 2, 2024 | Pape RyanPresident and CEO | Sale | 13,544 | $45.20 | $612.2K | Form 4 |
| Nov 25, 2024 | Pape RyanPresident and CEO | Sale | 20,000 | $46.35 | $926.9K | Form 4 |
| Nov 25, 2024 | Wood BarrySenior Vice President/CFO | Sale | 1,870 | $45.98 | $86.0K | Form 4 |
| Nov 19, 2024 | Pape RyanPresident and CEO | Sale | 20,000 | $42.64 | $852.8K | Form 4 |
| Nov 19, 2024 | Klonne MikeDirector | Sale | 5,000 | $43.00 | $215.0K | Form 4 |
| May 8, 2024 | North John FDirector | Buy | 3,000 | $32.17 | $96.5K | Form 4 |
| Sep 11, 2023 | Pape RyanPresident and CEO | Sale | 1,000 | $75.78 | $75.8K | Form 4 |
| Sep 5, 2023 | Pape RyanPresident and CEO | Sale | 8,000 | $77.43 | $619.4K | Form 4 |
| Aug 28, 2023 | Pape RyanPresident and CEO | Sale | 8,000 | $83.53 | $668.3K | Form 4 |
| Aug 25, 2023 | Moreau MathieuSenior VP, Sales and Product | Sale | 5,000 | $82.73 | $413.6K | Form 4 |
| Aug 24, 2023 | Moreau MathieuSenior VP, Sales and Product | Sale | 5,000 | $84.74 | $423.7K | Form 4 |
| Aug 23, 2023 | Wood BarrySenior Vice President/CFO | Sale | 562 | $85.89 | $48.3K | Form 4 |
| Aug 23, 2023 | Moreau MathieuSenior VP, Sales and Product | Sale | 5,000 | $84.88 | $424.4K | Form 4 |
| Aug 22, 2023 | Moreau MathieuSenior VP, Sales and Product | Sale | 5,000 | $83.24 | $416.2K | Form 4 |
| Aug 21, 2023 | Pape RyanPresident and CEO | Sale | 8,000 | $83.03 | $664.3K | Form 4 |
| Aug 21, 2023 | Moreau MathieuSenior VP, Sales and Product | Sale | 5,000 | $82.98 | $414.9K | Form 4 |
| Aug 18, 2023 | Moreau MathieuSenior VP, Sales and Product | Sale | 5,000 | $82.51 | $412.6K | Form 4 |
| Aug 17, 2023 | Moreau MathieuSenior VP, Sales and Product | Sale | 5,000 | $82.91 | $414.6K | Form 4 |
| Aug 16, 2023 | Moreau MathieuSenior VP, Sales and Product | Sale | 5,000 | $83.94 | $419.7K | Form 4 |
All 199 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- WASATCH ADVISORS LPSCHEDULE 13G/A, 9 filings Feb 11, 2022 to Oct 9, 202640
- VANGUARD GROUP INCSCHEDULE 13G/A, 2 filings Feb 13, 2024 to Sep 3, 202641
- Alta Fox Opportunities Fund, LPSCHEDULE 13G/A, 2 filings Nov 24, 2025 to May 15, 202642
- BlackRockSC 13G/A, 5 filings Jul 8, 2022 to Nov 8, 202443
- Richard K. CrumlySC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202444
- Jason HirschmanSC 13G/A, 3 filings Jan 31, 2022 to Jan 30, 202445
- Neuberger BermanSC 13G/A, 3 filings Feb 11, 2022 to Dec 8, 202346
- Mark AdamsSC 13G/A, 2 filings Feb 14, 2022 to Feb 10, 202347
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Ryan L. Pape | 45 | $562.0K | $2.7M48 |
| 2025 | Barry R. Wood | 63 | $395.0K | $1.0M48 |
| 2024 | Chairman of the Board | $562.0K | $2.2M48 | |
| 2024 | Senior VicePresident and CFO | $395.0K | $848.7K48 | |
| 2023 | and President and CEO | $532.1K | $2.0M48 | |
| 2023 | Senior VicePresident and CFO | $373.5K | $902.8K48 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How XPEL, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARXPEL, Inc.1
- CIK0001767258
- Employer ID (EIN)20-11173814
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inNevada4
- Fiscal year endsDecember 311
- Industry code (SIC)3470 Coating, Engraving & Allied Services1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business address711 Broadway St., Suite 320, San Antonio, TX 782151
- Phone210-678-37001
- Shares outstanding27,570,748 as of Aug 7, 202611
- Public float$900.9M as of Jun 30, 20254
- AuditorDeloitte & Touche LLP, Austin, Texas PCAOB ID 34; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceMar 12, 20191
- Filings587 in all: 4 (351), 8-K (92), 144 (29), SC 13G/A (24), 10-Q (22), 3 (12), SC 13G (9), 10-K (7)1
All 24 form types
DEF 14A (7), DEFA14A (7), SCHEDULE 13G/A (5), UPLOAD (4), CORRESP (3), S-8 (3), 10-12B/A (2), 4/A (2), 10-12B (1), 10-K/A (1), 8-K/A (1), CERT (1), DRS (1), S-3ASR (1), S-8 POS (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Apr 30, 2026
Latest 8-K (8-K) Aug 5, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.001 per share | XPEL | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks XPEL, Inc. names in Item 1A of its 10-K filed Feb 27, 2026: 67 risks under these headings, as written.4
- Operational Risks
- A material disruption from our contract manufacturers or suppliers, or our inability to obtain a sufficient supply of products from alternate suppliers, could cause us to be unable to meet customer demands or increase our costs.
- Any continued reliance on contract manufacturers and suppliers exposes us to product quality and variable cost risks.
- If we do not manage or control the quality of our products, we may be unable to meet customer demands and incur higher costs .
- Our results depend on the timely availability of raw materials, components, and commodities at acceptable prices.
- Our planned investment in manufacturing and supply chain assets exposes us to execution risks.
- We are subject to extensive environmental, health, and safety laws and regulations governing emissions, discharges, waste management, hazardous materials, chemical registration, and worker protection.
- Existing and potential new trade policies, such as tariffs, could adversely affect our operations, costs and business.
- If we are unable to effectively manage our growing labor force, our business could be impacted.
- The loss of one or more of our key personnel, or our failure to attract and retain other highly qualified personnel in the future, could harm our business.
- Increased regulatory scrutiny of dealerships that inhibit or change their selling process or how they interface with consumers could impact our revenue.
- If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, stockholders could lose confidence in our financial and other public reporting, which would likely negatively affect our business and the market price of our Common Stock.
The other 56 risks
- The preparation of our financial statements involves the use of estimates, judgments and assumptions, and our financial statements may be materially affected if such estimates, judgments and assumptions prove to be inaccurate.
- Failure to meet the PRC government’s complex regulatory requirements on and significant oversight over our business operation could result in a material adverse change in our operations and the value of our securities.
- Fluctuation in the value of RMB may result in foreign currency exchange losses.
- Risks Related to Our Majority but Not Wholly-Owned Subsidiary in China.
- •Limited Control Over Minority Interests
- •Dividend and Profit Distribution Risks
- •Potential Conflicts of Interest
- •Increased Risk of Disputes and Litigation
- •Limitations on Exit or Sale
- China’s Merger & Acquisition Rules and certain other regulations establish complex procedures for certain acquisitions of PRC companies by foreign investors, which could make it more difficult for us to pursue growth through acquisitions in China.
- Regulation of loans to and direct investment in PRC entities by offshore holding companies and governmental control of currency conversion may delay or prevent us from making loans to or make additional capital contributions to our PRC subsidiary, which could materially and adversely affect our liquidity and our ability to fund and expand our business.
- We may rely on dividends and other distributions on equity paid by our PRC subsidiaries to fund any cash and financing requirements we may have, and any limitation on the ability of our PRC subsidiaries to make payments to us could have a material and adverse effect on our ability to conduct our business.
- Increases in labor costs and enforcement of stricter labor laws and regulations in China may adversely affect our business and our profitability.
- Any failure to comply with Chinese regulations regarding our employee equity incentive plans may subject Chinese plan participants or us to fines and other legal or administrative sanctions.
- Failure to make adequate contributions to various employee benefit plans as required by Chinese regulations may subject us to penalties.
- We face increasing competition for qualified employees in China, particularly in other major cities and for technical, commercial, and managerial roles.
- We are subject to occupational health and safety laws and regulations in China.
- Unauthorized access to, or improper use, disclosure, theft or destruction of, our customer or employee personal, financial or other data or our proprietary or confidential information that is stored in our information systems or by third parties on our behalf could result in substantial costs, expose us to litigation and damage our reputation.
- Risks Related to Our Business and Industry
- We are highly dependent on the automotive industry. A prolonged or material contraction in automotive sales and production volumes could adversely affect our business, results of operations and financial condition.
- Our operating results can be adversely affected by inflation, tariffs, changes in the cost or availability of raw materials, labor, energy, transportation and other necessary supplies and services.
- The after-market automotive product supply business is highly competitive. Competition presents an ongoing threat to the success of our Company.
- Harm to our reputation or the reputation of one or more of our products could have an adverse effect on our business.
- Our revenue and operating results may fluctuate, which may make our results difficult to predict and could cause our results to fall short of expectations.
- If the model of selling vehicles through dealerships changes dramatically, our revenue could be impacted.
- If ride-sharing or alternate forms of vehicle ownership gain in popularity, our revenue could be impacted.
- Technology could render the need for some of our products obsolete.
- Changes in OEM accessorization strategies or production volumes could impact our business.
- Infringement of our intellectual property could impact our ability to compete effectively.
- We must conduct research and development activities to improve our existing products and services and to introduce new products and services.
- If changes to our existing products or introduction of new products or services do not meet our customers’ expectations or fail to generate revenue, we could lose our customers or fail to generate any revenue from such products or services and our business may be harmed.
- Strategic Risks
- We depend on our relationships with independent installers and new car dealerships and their ability to sell and service our products. Any disruption in these relationships could harm our sales.
- We may not be able to identify, finance and complete suitable acquisitions and investments, and any completed acquisitions and investments could be unsuccessful or consume significant resources.
- If we are unable to maintain our network of sales and distribution channels, it could adversely affect our net sales, profitability and the implementation of our growth strategy.
- If we are unable to retain and acquire new customers, our financial performance may be materially and adversely affected.
- We are exposed to political, regulatory, economic and other risks that arise from operating a multinational business.
- Volatility in currency exchange rates could have a material adverse effect on our financial condition, results of operations and cash flows.
- If we fail to manage our growth effectively, our business, financial condition and results of operations may suffer.
- Legal, Regulatory and Compliance Risks
- We may incur material losses and costs as a result of product liability and warranty claims.
- Violations of the U.S. Foreign Corrupt Practices Act and similar anti-corruption laws outside the U.S. could have a material adverse effect on us.
- Our failure to satisfy international trade compliance regulations, and changes in U.S. government sanctions, could have a material adverse effect on us.
- Changes in U.S. administrative policy, including changes to existing trade agreements and any resulting changes in international relations, could adversely affect our financial performance.
- Intellectual property challenges may hinder our ability to develop and market our products, and we may incur significant costs in our efforts to successfully avoid, manage, defend and litigate intellectual property matters.
- We may face design limitations or liability associated with the use of products for which patent ownership or other intellectual property rights are claimed.
- Failure, inadequacy, or breach of our information technology systems, infrastructure, and business information or violations of data protection laws could result in material harm to our business and reputation.
- Liquidity Risks
- We may seek to incur substantially more indebtedness in the future.
- We cannot be certain that additional financing will be available on reasonable terms when required, or at all.
- Our variable rate indebtedness exposes us to interest rate volatility, which could cause our debt service obligations to increase significantly.
- Risks Relating to Common Stock
- If research analysts issue unfavorable commentary or downgrade our Common Stock, the price of our Common Stock and its trading volume could decline.
- Short sellers of our stock may be manipulative and may have driven down and may again drive down the market price of our Common Stock.
- Our stock price has been, and may continue to be, volatile.
- We may issue additional equity securities or engage in other transactions that could dilute our book value or affect the priority of our Common Stock, which may adversely affect the market price of our Common Stock.
- We may issue shares of preferred stock with greater rights than our Common Stock.
- We have not paid any cash dividends in the past and have no plans to issue cash dividends in the future, which could cause our Common Stock to have a lower value than that of similar companies which do pay cash dividends.
- Shares eligible for future sale may depress our stock price.
- Your percentage of ownership in our Common Stock may be diluted in the future.
- Anti-takeover provisions could make a third-party acquisition of us difficult.
- Our directors and officers may have control over us.
- Our bylaws provide that the state located in Clark County, Nevada will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
- General Risk Factors
- General global economic and business conditions affect demand for our products.
- A public health crisis could impact our business
- Economic, political and market conditions can adversely affect our business, financial condition and results of operations.
Legal proceedings
From time to time, we are made parties to actions filed or have been given notice of potential claims relating to the ordinary conduct of our business, including those pertaining to commercial disputes, product liability, patent infringement and employment matters.
While we believe that a material impact on our financial position, results of operations or cash flows from any such future claims or potential claims is unlikely, given the inherent uncertainty of litigation, it is possible that an unforeseen future adverse ruling or unfavorable development could result in future charges that could have a material adverse impact. We do and will continue to periodically reexamine our estimates of probable liabilities and any associated expenses and receivables and make appropriate adjustments to such estimates based on experience and developments in litigation. As a result, the current estimates of the potential impact on our financial position, results of operations and cash flows for the proceedings and claims described in the notes to our consolidated financial statements could change in the future.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARXPEL, Inc. filings on SEC EDGAR
- 2SEC EDGARXPEL, Inc. filings on SEC EDGAR
- 3
- 4
- 5SEC EDGARXPEL, Inc. 10-K for fiscal 2025
- 6SEC EDGARXPEL, Inc. 10-K for fiscal 2019
- 7SEC EDGARXPEL, Inc. 10-K for fiscal 2020
- 8SEC EDGARXPEL, Inc. 10-K for fiscal 2021
- 9SEC EDGARXPEL, Inc. 10-K for fiscal 2022
- 10SEC EDGARXPEL, Inc. 10-Q for fiscal 2026
- 11SEC EDGARXPEL, Inc. 10-Q for fiscal 2026
- 12SEC EDGARXPEL, Inc. 10-K for fiscal 2019
- 13SEC EDGARXPEL, Inc. 10-K for fiscal 2019
- 14SEC EDGARRyan Pape, Chief executive officer
- 15SEC EDGARBarry Wood, Chief financial officer
- 16
- 17
- 18SEC EDGARJohn F. North, Board member
- 19SEC EDGARStacy L. Bogart, Board member
- 20SEC EDGARRichard K. Crumly, Board member
- 21SEC EDGARJohn Constantine, Board member
- 22SEC EDGARMike Klonne, Board member
- 23SEC EDGARBrooks Meltzer, General counsel
- 24SEC EDGARResults of operations
- 25SEC EDGARExecutive or director change
- 26SEC EDGARShareholder vote
- 27
- 28SEC EDGARResults of operations
- 29SEC EDGARExecutive or director change
- 30SEC EDGARResults of operations
- 31
- 32SEC EDGARResults of operations
- 33
- 34
- 35SEC EDGARResults of operations
- 36NasdaqNasdaq calendar
- 37
- 38
- 39
- 40
- 41
- 42
- 43SEC EDGARBlackRock SC 13G/A on XPEL, Inc.
- 44
- 45
- 46
- 47SEC EDGARMark Adams SC 13G/A on XPEL, Inc.
- 48