XP Inc. reports Q2 net income R$1.32B vs. R$1.12B last year

Reports Q2 revenue R$4.67B vs. R$4.50B last year. Client Assets totaled R$1.4 trillion in 2Q25, up 14% YoY and 3% QoQ. Year-over-year growth was driven by R$96 billion net inflow and R$72 billion of market appreciation. In 2Q25, Net Inflow was R$10 billion, and Retail Net Inflow was R$16 billion, 21% lower QoQ, and 34% lower YoY. Active clients grew 2% YoY and 1% QoQ, totaling 4.7 million in 2Q25.