XP Inc. Cements Record-Breaking Year with Impressive Q4 Results
XPI's CEO Thiago Maffra proudly took to the stage during the company's 2024 Q4 earnings call, where he highlighted a plethora of impressive achievements for the quarter and the year as a whole.
Key among these accomplishments was the significant growth in client assets, which reached BRL 1.22 trillion, marking a staggering 9% increase year-over-year. This growth was complemented by an expansion in the number of advisers to 18,200, representing a 5% increase over the same period.
Client base growth also showed impressive momentum, reaching 4.7 million with a 3% boost year-over-year. The company's gross revenues posted BRL 18 billion, solidifying a 15% growth rate year-over-year, while sound EBT growth reached BRL 5 billion.
The cherry on top was the achievement of the highest quarterly adjusted net income since the company's IPO, which came in at BRL 1.2 billion for Q4 '24 and a total of BRL 4.5 billion for the full year, representing a 17% expansion year-over-year.
On the balance sheet, XP Inc. boasted an impressive ROT (Return on Total Assets) ratio of 28.7%, marking a substantial 376 bps expansion versus 2023. This was complemented by a ROE (Return on Equity) market ratio of 23% and 163 bps expansion. The company's secured loan book growth and higher interest rate curve added to the impressive performance.
Adjusted diluted EPS posted a 16% growth during the year, with guidance indicating that EPS should grow faster than net income going forward. Furthermore, the share buyback program opened last year further reinforced the company's commitment to delivering on its 2026 guidance.
In his presentation, Thiago Maffra emphasized the company's dedication to improving service quality, segmentation, innovative products, sales team extension, and cost control. The CEO also highlighted the role of XP Inc.'s advanced tech platform in driving growth and profitability for shareholders.
XP Inc.'s commitment to its people was also on full display during the call, with a special tribute given to partners celebrating over 10 years of service. Thiago Maffra himself marked his 10-year anniversary at XP last month, underscoring the company's growth and transformation over this period.
XP Inc.'s Q4 results solidify its position as a leader in the financial services industry. As we look to the future, it is clear that the company remains committed to delivering on its ambitious goals for 2026."
