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How XPEL, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$476M · 100%Cost of revenue$275M · 58%Gross profit$201M · 42%Operating income$62.6M · 13%Income before tax$64.1M · 13%Income tax$12.5M · 3%Net income$51.2M · 11%As of 2025-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$476M100%
  • 10-K · FY 2025Filing detailsAccession 0001767258-26-000014 · filed Feb 27, 2026
Cost of revenue$275M58%
  • 10-K · FY 2025Filing detailsAccession 0001767258-26-000014 · filed Feb 27, 2026
$201M42%
  • 10-K · FY 2025Filing detailsAccession 0001767258-26-000014 · filed Feb 27, 2026
$62.6M13%
  • 10-K · FY 2025Filing detailsAccession 0001767258-26-000014 · filed Feb 27, 2026
Income before tax$64.1M13%
  • 10-K · FY 2025Filing detailsAccession 0001767258-26-000014 · filed Feb 27, 2026
Income tax$12.5M3%
  • 10-K · FY 2025Filing detailsAccession 0001767258-26-000014 · filed Feb 27, 2026
$51.2M11%
  • 10-K · FY 2025Filing detailsAccession 0001767258-26-000014 · filed Feb 27, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001767258-26-000014 · filed Feb 27, 2026
· event Dec 31, 2025 · retrieved Oct 24, 2026 · annual-row source set
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