XP Reports Record-High Revenue and Client Assets Growth in Q2 2024

2024-08-24

In the 2024 Q2 earnings call of XP, key participants including Andre Parize, Thiago Maffra, Victor Mansur, Jorge Kuri, Daniel Vaz, Daer Labarta, Olavo Arthuzo Duarte, and Neha Agarwala discussed various aspects of the company's performance and future strategies. The earnings call highlighted significant achievements, revealing a positive quarter characterized by record-high revenue, EBITDA, and net income. Notably, XP's total client assets surged to BRL 1.2 trillion, reflecting a substantial 14% year-over-year increase.

Thiago Maffra underscored the primary drivers of business expansion, which encompassed retail investments, channel diversification, productivity enhancements for advisers, and the continuous evolution of the company's mindset. XP witnessed growth across multiple sectors, with a notable 22% year-over-year rise in the corporate and SMB client base. Furthermore, the company strengthened its position in the derivatives and FX markets, underscoring its progress and competitiveness in these domains.

The discussion delved into the company's financial highlights, diversification of distribution channels, introduction of new products, and strategic focus areas for future growth. Key topics during the earnings call included XP's emphasis on customer retention, revenue mix, EBITDA margin enhancement, and net new money flow.

Overall, the 2024 Q2 earnings call of XP offered valuable insights into the company's robust performance, strategic growth initiatives, and confidence in meeting its future guidance. Participants emphasized the significance of factors such as net new money, revenue mix, distribution capabilities, and product innovation in propelling the company's success in the financial sector.