Xp Inc. Stock Price, News & Analysis

XP Inc. (NASDAQ: XP) reported robust 3Q21 results, demonstrating significant growth despite market uncertainties. Total gross revenue reached R$3.37 billion, up 50% year-over-year, driven by a strong Retail business, which alone accounted for 80% of this growth. Active clients grew 25% to 3.3 million, while the company’s assets under custody (AUC) reached R$789 billion, up 40% year-over-year. Adjusted net income surged 82%, reflecting improved margins and operational efficiency. The successful spin-off from Itaú Unibanco enhances corporate governance and investor base, positioning XP for future growth.

XP Inc. (Nasdaq: XP) announced the acquisition of a minority stake in AZ Quest, a prominent independent asset management company in Brazil, as part of its strategy to enhance its financial ecosystem. This co-investment with the XP Private Equity fund aims to boost distribution and expand synergies in fund penetration across Brazil's largest open platform. With R$17.3 billion in assets, AZ Quest offers diversified products, and this partnership is expected to facilitate growth opportunities in the local market.

XP Inc. (Nasdaq: XP) reported strong growth in its 3Q21 KPIs, with a credit portfolio reaching R$8.6 billion, a 122% increase year-to-date. The company maintained a 0.0% Non-Performing Loan (NPL) ratio. Assets Under Custody (AUC) hit R$789 billion, up 40% year-over-year, despite a 3% quarterly decline. Total net inflows were R$37 billion in 3Q21, down from R$75 billion in 2Q21. Active clients grew to 3.3 million, a 25% increase year-over-year. The company will release its complete financial results on November 3, 2021.

XP Inc. (Nasdaq: XP) announced the successful merger with XPart during its Annual General Meeting on October 1, 2021. Following the merger, XPart ceased to exist, allowing its stockholders to hold direct interests in XP. The Brazilian Depositary Receipts (BDRs) of XP are set to trade at B3 starting October 4, 2021. The merger is expected to enhance XP's corporate governance and capital structure, increasing the controlling shareholders' voting rights from 55.4% to 68.3%. This move is aimed at improving strategic decision-making flexibility by removing certain veto rights.

XP Inc. (Nasdaq: XP) has acquired a minority stake in Virgo, a financial solutions company, aiming to enhance capital market access for small and medium enterprises in Brazil. This investment will fuel Virgo's plans to develop a marketplace for debt and equity instruments, expedite hiring, and bolster technology investments. With over 105 institutional investors, Virgo can facilitate fundraising up to R$50 million in less than 12 hours. The partnership aligns with XP's vision to become the leading service provider for Brazilian SMBs, reinforcing its role in the evolving capital markets landscape.

XP Inc. (Nasdaq: XP) announced plans to merge with XPart, with a Shareholders' Meeting scheduled for October 1, 2021. This merger aims to enhance corporate governance and improve capital structure, increasing controlling shareholders' voting rights from 55.4% to 68.3%. The elimination of certain veto rights will provide XP with greater flexibility in strategic decisions. XP remains committed to generating sustainable value for stakeholders and reinforcing its mission to transform financial services in Brazil.

XP Inc. (NASDAQ: XP) reported strong Q2 2021 results, highlighting an 88% year-over-year growth in Assets Under Custody (AUC) to R$817 billion. Active clients increased by 33% to 3,140,000, driving gross revenues up 57% to R$3.2 billion. Notable increases included Retail revenues rising 66% and Issuer Services surging 293%. Adjusted Net Income grew 83% to R$1,034 million with a net margin of 34.2%. The company remains focused on digital transformation and expanding its market footprint amid competitive pressures, aiming to capture a more significant share of Brazil's R$800 billion financial sector.

XPAC Acquisition Corp. priced its initial public offering of 20 million units at $10.00 each, beginning trading on Nasdaq under the ticker symbol 'XPAXU' on July 30, 2021. Each unit comprises one Class A ordinary share and one-third of a redeemable warrant, with whole warrants allowing purchase of one Class A share at $11.50. The company, sponsored by XPAC Sponsor LLC affiliated with XP Inc., aims to target businesses in Brazil across various sectors. Citigroup serves as the book-running manager, and the offering includes a 45-day option for the underwriter to purchase additional units.

XP Inc. (Nasdaq: XP) announced it will host a webcast to discuss its Q2 2021 financial results on August 3, 2021, at 5:00 pm ET. A press release with the results will be issued after market close the same day. XP, a technology-driven platform in Brazil, aims to democratize access to financial services and empower clients through innovative products. The company offers a range of financial advisory services and over 800 investment products. Interested participants can register for the webcast and find the replay on XP’s investor relations website.