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Operating Expense Breakdown
Details major cost areas like marketing, sales support for installer networks, distribution, and product development so you can assess how efficiently XPEL is scaling, whether spending is driving growth, and how expense trends will affect future profitability.Both G&A and Sales & Marketing have climbed steadily, with S&M accelerating most recently—consistent with a commercial push, basin acquisitions and capacity expansion to drive Water Infrastructure and Chemical Technology growth. Crucially, management says SG&A fell as a percent of revenue despite higher absolute spend, signaling real operating leverage that helped fuel record margins and EBITDA. Watch nonetheless for near‑term cash pressure: elevated CapEx, rising D&A and a receivables build could constrain free cash flow even as expense efficiency supports margin expansion.
Date | Sales and Marketing | General and Administrative |
|---|---|---|
Jun 30, 2026 | ― | $24.54M |
Mar 31, 2026 | $15.16M | $23.06M |
Dec 31, 2025 | $13.61M | $22.10M |
Sep 30, 2025 | $13.79M | $21.88M |
Jun 30, 2025 | $11.86M | $22.36M |
Mar 31, 2025 | $11.88M | $20.90M |
Dec 31, 2024 | $11.51M | $19.85M |
Sep 30, 2024 | $10.64M | $18.89M |
Jun 30, 2024 | $10.28M | $18.40M |
Mar 31, 2024 | $10.39M | $18.26M |