XP Inc. (XP) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good evening, everyone. I'm Andre Parize, Investor Relations Officer at XP, Inc. Welcome and thank you for joining us for our second quarter 26 earnings call. Today's presentation will be delivered by our CEO Thiago Maffra and our CFO Gustavo Alejo. Right after the presentation, they will be both available for the Q&A session. To ask a question during Q&A, Your questions in the order they are received. Live translation in Portuguese is available. You can enable it by clicking the button below. Before we begin, please take a moment to reveal the legal disclaimer on page 2 of today's presentation, which addresses forward-looking statements. The full presentation is available for download on our Investor Relations website, and you will find additional materials in the SEC filings Now, I hand it over to Thiago Maffra. Good evening, Maffra. Thank you, Andre. Good evening, everyone, and thank you for joining our second quarter 2026 earnings call. I would like to begin by welcoming Gustavo Alejo, our new CFO. He joins us At an exciting time, just after the biggest export in our history, an event that showed how far we have come and how much further we aim to go. Now, let's dive into our second quarter 2026 numbers. Beginning with the key highlights of the quarter, client assets, combining AUM and AOA, reached 2.2 trillion, representing a 17% year-over-year growth. We ended the period with 18.4 thousand advisors, up 1% year-over-year, while our active client base totaled 4.8 million, a 1% increase year-over-year. Gross revenues amounted to $5.1 billion this quarter, up 8% from the same period last year. EBT advanced 15% to $1.6 billion, while net income came to $1.4 billion, rising 5% year over year. In terms of profitability, our ROE increased 80 bps sequentially to 22.5%. ...