XP Inc. Income Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Total Interest Expense	625.4	779.53	617.48	402.3	135.73
Net Interest Income	-625.4	-779.53	-617.48	-402.3	-135.73
Brokerage Commission	3,213	3,130	2,782	2,667	2,658
Asset Management Fee	1,887	1,743	1,628	1,581	1,490
Gain on Sale of Investments (Rev)	2,497	2,285	1,979	1,631	1,917
Other Revenue	10,801	9,873	8,471	7,468	6,012
Revenue	17,773	16,251	14,243	12,945	11,941
Revenue Growth (YoY)	9.37%	14.10%	10.02%	8.40%	47.44%
Cost of Services Provided	12,119	11,122	9,964	9,580	8,297
Other Operating Expenses	-162.98	-145.59	-23.48	-214.92	-278.8
Total Operating Expenses	12,348	11,265	10,301	9,459	8,110
Operating Income	5,425	4,987	3,941	3,486	3,831
EBT Excluding Unusual Items	5,541	5,034	4,015	3,474	3,823
Asset Writedown	-23.36	-29.45	-32.27	-20.81	-20.37
Legal Settlements	-68.89	-18.55	-46.1	-8.56	-3.67
Pretax Income	5,449	4,986	3,936	3,445	3,815
Income Tax Expense	279.26	471.13	36.96	-135.56	222.71
Earnings From Continuing Ops.	5,169	4,515	3,899	3,580	3,592
Minority Interest in Earnings	0.49	-1.43	-0.69	-1.16	-3.04
Net Income	5,170	4,513	3,899	3,579	3,589
Net Income to Common	5,170	4,513	3,899	3,579	3,589
Net Income Growth	14.54%	15.77%	8.93%	-0.29%	72.87%
Shares Outstanding (Basic)	527	542	540	555	559
Shares Outstanding (Diluted)	532	548	544	573	573
Shares Change (YoY)	-2.99%	0.76%	-5.03%	-0.09%	2.57%
EPS (Basic)	9.80	8.33	7.22	6.44	6.42
EPS (Diluted)	9.72	8.23	7.16	6.25	6.26
EPS Growth	18.07%	14.90%	14.69%	-0.20%	68.53%
Free Cash Flow	11,836	11,034	8,061	1,759	-4,156
Free Cash Flow Per Share	22.25	20.12	14.81	3.07	-7.25
Dividend Per Share	0.991	4.020	6.357	-	-
Dividend Growth	-75.34%	-36.75%	-	-	-
Operating Margin	30.52%	30.69%	27.67%	26.93%	32.08%
Profit Margin	29.09%	27.77%	27.37%	27.65%	30.06%
Free Cash Flow Margin	66.59%	67.90%	56.60%	13.59%	-34.80%
Effective Tax Rate	5.13%	9.45%	0.94%	-	5.84%
Revenue as Reported	18,399	17,031	14,860	13,347	12,077

Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.