What is XPEL, Inc.'s work in process?

XPEL, Inc. (XPEL) reported work in process of $2.59M in Q1 2026.

How has XPEL, Inc.'s work in process changed year-over-year?

XPEL, Inc.'s work in process increased by 293.5% year-over-year, from $657K to $2.59M.

What does work in process mean?

Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.

XPEL, Inc. XPEL Work in process

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Other financials

Income statement

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Revenue$117.4M+13.1%

Gross profit$51.2M+16.7%

Operating income$13.0M+17.0%

Net income$10.3M+20.5%

EPS (diluted)$0.37+19.4%

Balance sheet

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Cash & equivalents$45.1M+91.6%

Total debt$20.8M-1.0%

Total equity$287.5M+22.1%

Total assets$394.4M+33.8%

Cash flow

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Operating cash flow$7.4M+129%

CapEx$9.7M+869%

Free cash flow-$2.3M-205%

Valuation

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Market cap$1.26B+50.4%

Enterprise value$1.24B+47.9%

P/E23.8×+6.1×

P/S2.6×+0.6×

Profitability

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Gross margin42.5%+0.3pp

Operating margin13.2%-0.9pp

Net margin10.8%-0.1pp

FCF margin11.9%+0.3pp

Returns & leverage

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Return on equity20.3%-2.2pp

Debt / equity0.1×0.0×

Current ratio3.1×-1.2×

Where this comes from

Reported directly by XPEL, Inc. in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcessNetOfReserves.

The official record: XPEL, Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is XPEL, Inc.'s work in process?: XPEL, Inc. (XPEL) reported work in process of $2.59M in Q1 2026.
How has XPEL, Inc.'s work in process changed year-over-year?: XPEL, Inc.'s work in process increased by 293.5% year-over-year, from $657K to $2.59M.
What does work in process mean?: Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.