XP Inc. (XP) SEC Filings & Earnings Calls
EquiReason read 23 XP Inc. SEC filings in the last 12 months. Latest: 6-K on 2026-10-16 — Director resignation and appointment of interim director; no disagreement with company; routine board change..
Source: SEC EDGAR filings · read by EquiReason
- Market cap
- 16.4B
- P/E TTM
- —
- Dividend yield
- —
- 52-week
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- Next earnings
- 16 Nov, in 23 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
16 Oct 20266-KDirector resignation and appointment of interim director; no disagreement with company; routine board change.open
Risks flagged
No material risks identified; resignation voluntary and no disagreements
“Resignation is voluntary and not due to any disagreement with the Company, Board, or management.”
17 Aug 20266-KXP Inc. cancels 11,791,755 treasury Class A shares (2.3% of total shares), reducing share count from 520,292,030 to 508,500,275.share dilutionopen
Figures in the filing · each found in the filing text
| Total Shares Outstanding · 2026-08-17 | 508,500,275 |
17 Aug 20266-KXP Inc. reported 2Q26 results with net revenue up 9% YoY, net income up 5% YoY, and strong net inflows of R$28B (+188% YoY). Retail revenue grew 8% YoY, wholesale banking revenue surged 32% YoY. Gross margin stable at 68.6%, EBT margin expaearningsopen
Figures in the filing · each found in the filing text
| Total Client Assets · Q2-2026 | $1535.00B | +12% y/y |
| Total Net Inflow · Q2-2026 | $28.00B | +180% y/y |
| Annualized Retail Take Rate · Q2-2026 | 1.2% | |
| Active Clients · Q2-2026 | 4,772,000 | +1% y/y |
| Retail Daily Average Trades · Q2-2026 | 2,400,000 | +4% y/y |
| Retirement Plans Client Assets · Q2-2026 | $101.00B | +17% y/y |
| Cards TPV · Q2-2026 | $13.50B | +9% y/y |
| Expanded Loan Portfolio · Q2-2026 | $77.90B | +16% y/y |
| Gross Written Premiums · Q2-2026 | $489M | +10% y/y |
| Gross Revenue · Q2-2026 | $5.06B | +8% y/y |
Risks flagged
Take rate compression: Annualized Retail Take Rate declined 5 bps YoY to 1.20%, indicating potential pricing pressure or mix shift to lower-fee products.
“Annualized Retail Take Rate 1.20% vs 1.25% YoY (-5 bps)”
Net margin contraction: Net margin decreased 103 bps YoY to 28.3%, despite EBT margin expansion, suggesting higher tax or minority interest drag.
“Net Margin 28.3% vs 29.4% YoY (-103 bps)”
Active client growth stagnation: Active clients grew only 1% YoY and were flat QoQ, indicating potential market saturation or competitive pressure.
“Active Clients (in '000s) 4,772 vs 4,720 YoY (+1%)”
Fixed income revenue decline: Fixed income revenue fell 16% YoY, partially offsetting growth in other retail lines, likely due to mark-to-market impacts.
“Fixed Income 833 vs 988 YoY (-16%)”
17 Aug 20266-KXP Inc. filed unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 2026, with no material surprises or guidance.earningsopen
Figures in the filing · each found in the filing text
| total assets · Q2-2026 | $408.03B | +3% y/y |
| cash · Q2-2026 | $7.98B | -23% y/y |
| financial assets · Q2-2026 | $377.23B | +3% y/y |
| financial liabilities · Q2-2026 | $282.27B | +2% y/y |
| loan operations · Q2-2026 | $35.44B | +4% y/y |
| financing instruments payable · Q2-2026 | $116.70B | -5% y/y |
Risks flagged
No material risk signals; routine interim filing.
7 Jul 2026SC 13D/AInsider beneficial ownership decreased due to a repurchase right exercise, with potential further reduction of up to 2.8 million shares.open
Risks flagged
Insider ownership dilution risk
“the Reporting Persons' beneficial ownership of the Class A common shares decreased from 101,752,469 Class A common shares to 96,797,602 Class A common shares” · word for word
18 May 20266-KXP Inc. reported 1Q26 results with net revenue up 8% YoY, adjusted net income up 7% YoY, and EPS up 9% YoY. Client assets grew 15% YoY to R$1.5 trillion. Retail revenue grew 10% YoY, equities revenue up 22% YoY. Net inflow was R$14 billion,open
Figures in the filing · each found in the filing text
| Total Client Assets · Q1-2026 | $1529.00B | +15% y/y |
| Total Net Inflow · Q1-2026 | $14.00B | -39% y/y |
| Active Clients · Q1-2026 | 4,790,000 | +2% y/y |
| Retail Daily Average Trades · retail · Q1-2026 | 2,700,000 | +23% y/y |
| Gross revenue · Q1-2026 | $4.92B | +8% y/y |
| Net Revenue · Q1-2026 | $4.73B | +8% y/y |
| Adjusted Net Income · Q1-2026 | $1.32B | +7% y/y |
| Adjusted Diluted EPS · Q1-2026 | $2.49 | +9% y/y |
| Annualized Retail Take Rate · retail · Q1-2026 | 1.2% | |
| Retail Revenue · retail · Q1-2026 | $3.77B | +10% y/y |
Risks flagged
Net inflow declined 39% YoY, indicating potential slowdown in new asset gathering.
“Total Net Inflow (in R$ bn) 14 24 -39%” · word for word
Take rate compression: annualized retail take rate down 7bps YoY and QoQ.
“Annualized Retail Take Rate 1.18% 1.25% -7 bps” · word for word
29 Apr 202620-FXP Inc. filed its annual report (20-F) for FY2025, providing qualitative updates on market trends and strategic positioning without explicit earnings results or guidance.earningsopen
Figures in the filing · each found in the filing text
| Active retail clients · FY2025 | 4,800,000 | +2% y/y |
| Number of IFAs in Brazil · FY2025 | 20,000 | |
| Individual investors on B3 · FY2025 | 5,500,000 |
Risks flagged
Intense competition from traditional banks and fintechs
“Substantial and Increasingly Intense Competition Within Our Industry May Harm Our Business.” · word for word
Regulatory risk in Brazil
“We are subject to extensive regulation, such as those applicable to banks (in the case of Banco XP), securities and foreign exchange brokers (in the case of XP CCTVM), securities portfolio managers... insurance companies and insurance brokers.”
Credit risk from lending operations
“In our credit operations, we are exposed to credit defaults and the incurrence of losses on the credit transactions we make to our customers.” · word for word
Concentration risk in Brazil
“Holding large and concentrated positions may expose us to losses.” · word for word
23 Feb 20266-KXP Inc. files MD&A for nine months ended Sep 30, 2025. Key metrics: Total Client Assets R$1,425B, Net Inflow R$63B, Active Clients 4,752K, Net Income R$3,888M. No guidance.open
Figures in the filing · each found in the filing text
| Total Client Assets · Q3-2025 | $1425.00B | +12% y/y |
| Total Net Inflow · 9M-2025 | $63.00B | -20% y/y |
| Annualized Retail Take Rate · Q3-2025 | 1.3% | |
| Active Clients · Q3-2025 | 4,752,000 | +2% y/y |
| Headcount · Q3-2025 | 7,740 | +7% y/y |
| Total Advisors · Q3-2025 | 18,200 | -1% y/y |
| Retail DATs · Q3-2025 | 2,200,000 | -4% y/y |
| Retirement Plans Client Assets · Q3-2025 | $90.00B | +15% y/y |
| Cards TPV · 9M-2025 | $38.00B | +9% y/y |
| Loan Portfolio · Q3-2025 | $26.00B | +29% y/y |
12 Feb 20266-KXP Inc. files audited consolidated financial statements for FY2025 with independent auditor's report; no material changes disclosed.open
Risks flagged
Key audit matters include fair value measurement of low liquidity financial instruments and revenue recognition, indicating potential complexity and judgment in financial reporting
“Key Audit Matters: Fair value measurement of certain low liquidity financial instruments and Revenue from services rendered”
12 Feb 20266-KXP Inc. reports Q4 2025 results: AUC ~R$1.5T, revenue +8% YoY, net income and EPS growth. Positive client-centric strategy and AI investment. Strong execution in challenging environment.open
Figures in the filing · each found in the filing text
| Revenue growth · FY2025 | 8.0% |
12 Feb 20266-KRealignment of voting interests in XP Control LLC; three partners exit, two new partners join; voting control remains at >=69% with founder as majority unitholder.open
Figures in the filing · each found in the filing text
| Beneficial ownership of Class A shares by ControlCo · 2026-02-12 | 18.0% | |
| Voting power of ControlCo · 2026-02-12 | 69.0% |
Risks flagged
Control structure realignment may lead to strategic shifts or governance changes
“Changes in ControlCo partnership; exit of three partners, entry of two new ones”
17 Nov 20256-KXP Inc. announces cash dividend of $0.18/share (~R$500M), retirement of 10.97M treasury shares (2.1% of total), and new R$1.0B share repurchase program.open
Figures in the filing · each found in the filing text
| Dividend per share · 2025-12-18 | $0.18 | |
| Buyback authorization · 2025-11-18 | $1.00B |
17 Nov 20256-KXP Inc. reports 3Q25 results: Net Income R$1,330M (+12% YoY), Net Margin 28.5% (+106bps YoY), Total Client Assets R$1,425B (+12% YoY). Revenue growth across segments.open
Figures in the filing · each found in the filing text
| Total Client Assets · Q3-2025 | $1425.00B | +12% y/y |
| Net Inflow · Q3-2025 | $29.00B | -14% y/y |
| Active Clients · Q3-2025 | 4,752,000 | +2% y/y |
| Net Revenue · Q3-2025 | $4.66B | +8% y/y |
| Net Income · Q3-2025 | $1.33B | +12% y/y |
| Diluted EPS · Q3-2025 | $2.47 | +13% y/y |
| Annualized Retail Take Rate · Retail · Q3-2025 | 1.2% | |
| Retail Revenue · Retail · Q3-2025 | $3.70B | +6% y/y |
| Corporate & Issuer Services Revenue · Corporate & Issuer Services · Q3-2025 | $729M | +32% y/y |
| Expanded Loan Portfolio · Credit · Q3-2025 | $67.00B | +33% y/y |
Risks flagged
Take rate compression: Annualized Retail Take Rate declined 9 bps YoY to 1.24%, indicating pricing pressure or mix shift.
“Annualized Retail Take Rate 1.24% (-9 bps YoY).”
Retail DATs decline: Retail Daily Average Trades down 6% YoY and 8% QoQ, suggesting lower trading activity.
“Retail DATs 2.1M (-6% YoY, -8% QoQ).”
XP Inc. — questions
- What did XP Inc. file recently?
- 23 SEC filings in the last 12 months. Latest: 6-K on 2026-10-16 — Director resignation and appointment of interim director; no disagreement with company; routine board change.
Every figure on this page comes from XP Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.