XP Inc. Income Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Total Interest Expense	691.04	779.53	617.48	402.3	135.73	52.67
Net Interest Income	-691.04	-779.53	-617.48	-402.3	-135.73	-52.67
Brokerage Commission	3,172	3,130	2,782	2,667	2,658	2,231
Asset Management Fee	1,784	1,743	1,628	1,581	1,490	1,224
Gain on Sale of Investments (Rev)	2,154	2,285	1,979	1,631	1,917	1,430
Other Revenue	10,790	9,873	8,471	7,468	6,012	3,267
Revenue	17,210	16,251	14,243	12,945	11,941	8,099
Revenue Growth (YoY)	8.33%	14.10%	10.02%	8.40%	47.44%	60.59%
Cost of Services Provided	11,697	11,122	9,964	9,580	8,297	5,750
Other Operating Expenses	-103.36	-145.59	-23.48	-214.92	-278.8	-224.4
Total Operating Expenses	12,022	11,265	10,301	9,459	8,110	5,581
Operating Income	5,188	4,987	3,941	3,486	3,831	2,518
EBT Excluding Unusual Items	5,251	5,034	4,015	3,474	3,823	2,519
Asset Writedown	4.74	-29.45	-32.27	-20.81	-20.37	-73.14
Legal Settlements	-43.16	-18.55	-46.1	-8.56	-3.67	-45.28
Pretax Income	5,213	4,986	3,936	3,445	3,815	2,421
Income Tax Expense	144.27	471.13	36.96	-135.56	222.71	339.92
Earnings From Continuing Ops.	5,068	4,515	3,899	3,580	3,592	2,081
Minority Interest in Earnings	-14.05	-1.43	-0.69	-1.16	-3.04	-5.06
Net Income	5,054	4,513	3,899	3,579	3,589	2,076
Net Income to Common	5,054	4,513	3,899	3,579	3,589	2,076
Net Income Growth	15.52%	15.77%	8.93%	-0.29%	72.87%	92.18%
Shares Outstanding (Basic)	532	542	540	555	559	552
Shares Outstanding (Diluted)	538	548	544	573	573	559
Shares Change (YoY)	-2.54%	0.76%	-5.03%	-0.09%	2.57%	9.26%
EPS (Basic)	9.50	8.33	7.22	6.44	6.42	3.76
EPS (Diluted)	9.40	8.23	7.16	6.25	6.26	3.71
EPS Growth	18.53%	14.90%	14.69%	-0.20%	68.53%	75.88%
Free Cash Flow	18,070	11,034	8,061	1,759	-4,156	1,366
Free Cash Flow Per Share	33.60	20.12	14.81	3.07	-7.25	2.44
Dividend Per Share	1.440	4.020	6.357	-	-	-
Dividend Growth	-57.06%	-36.75%	-	-	-	-
Operating Margin	30.14%	30.69%	27.67%	26.93%	32.08%	31.09%
Profit Margin	29.37%	27.77%	27.37%	27.65%	30.06%	25.64%
Free Cash Flow Margin	105.00%	67.90%	56.60%	13.59%	-34.80%	16.86%
Effective Tax Rate	2.77%	9.45%	0.94%	-	5.84%	14.04%
Revenue as Reported	17,901	17,031	14,860	13,347	12,077	8,152

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.