XPEL(XPEL) - 2025 Q4 - Annual Results

Revenue Growth - Revenue increased 13.7% to $122.3 million in Q4 2025 compared to $107.5 million in Q4 2024[2] - Total revenue for 2025 was $476.2 million, a 13.3% increase from $420.4 million in 2024[6] - Total revenue for Q4 2025 reached $122.267 million, a 13.7% increase from $107.527 million in Q4 2024[19] - US revenue increased 11.0% YoY, while total product revenue grew 11.0% YoY[5] - The company expects Q1 2026 revenue to be approximately $112 - $114 million[9] Profitability - Gross margin improved to 41.9% in Q4 2025 from 40.6% in Q4 2024[2] - EBITDA grew 37.6% to $19.6 million, representing 16.0% of revenue, compared to $14.3 million or 13.3% of revenue in Q4 2024[2] - Net income attributable to stockholders increased 50.7% to $13.4 million, or $0.49 per basic share, compared to $8.9 million or $0.32 per basic share in Q4 2024[2] - Net income for 2025 was $51.2 million, or $1.85 per basic share, compared to $45.5 million or $1.65 per basic share in 2024[6] - Operating income for the year ended December 31, 2025 was $62.649 million, a 5.3% increase from $59.147 million in 2024[19] - Net income for Q4 2025 was $13.660 million, up 53.5% from $8.898 million in Q4 2024[19] - EBITDA for Q4 2025 was $19.610 million, a 37.5% increase from $14.250 million in Q4 2024[28] Cash Flow and Assets - Cash flows provided by operations were $66.9 million in 2025, a 40.0% increase from $47.8 million in 2024[6] - Cash and cash equivalents at the end of Q4 2025 were $50.864 million, significantly up from $22.087 million at the end of Q4 2024[21] - Total assets increased to $382.526 million in 2025, compared to $285.607 million in 2024, reflecting a growth of 33.9%[21] Liabilities and Inventory - Total liabilities rose to $97.341 million in 2025, up from $60.152 million in 2024, indicating a 61.7% increase[21] - The company reported a significant increase in inventory, which rose to $122.755 million in 2025 from $110.904 million in 2024[21] Strategic Focus - The company completed the development of its international footprint in 2025 and will focus on driving sales growth moving forward[1] - The company made acquisitions totaling $11.003 million in Q4 2025, compared to $3.335 million in Q4 2024, indicating a strategic focus on growth through acquisitions[23]