XP Inc. Reports 3Q23 KPIs

XP Inc. (Nasdaq: XP), a leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil, announced today its 3Q23 KPIs. The Portuguese version of this release can be accessed in the Press Release section on the IR website. Additional KPI details and historical data can be found in our financial spreadsheet.

1. INVESTMENTS

Client Assets and Net Inflow (in R$ billion)
Client Assets totaled R$1.1 trillion as of September 30^th, up 17% YoY and 6% QoQ. Year-over-year growth was driven by R$117 billion net inflows and R$38 billion of market appreciation.

In 3Q23, Net Inflow was R$48 billion, up 118% QoQ and 38% YoY. Retail Net Inflow was R$48 billion while Corporate Net Inflow was close to zero.

These figures include R$34 billion of Client Assets from Modal, which were accounted as Net Inflow in 3Q23.

Active Clients (in ‘000s)
Active clients grew 10% QoQ and 16% YoY, totaling 4.4 million in 3Q23. This figure includes 0.2 million active clients from Modal.

IFA Network (in ‘000s)
Our network reached 14.3 thousand IFAs in 3Q23, up 1% QoQ and 23% YoY.

Retail Daily Average Trades (in million)¹
Retail DATs totaled 2.1 million in 3Q23, down 9% YoY and 2% QoQ, reflecting weaker volumes in the equity market.

NPS (Net Promoter Score)
Our NPS, a widely known survey methodology used to measure customer satisfaction, was 72 in 3Q23. Maintaining a high NPS score remains a priority for XP since our business model is built around client experience. The NPS calculation as of a given date reflects the average scores in the prior six months.

2. RETIREMENT PLANS

Retirement Plans Client Assets² (in R$ billion)
As per public data published by Susep, XPV&P continued to be #1 in net portability for individual retirement plans in 2023, as of August, while our total Market Share went up to 4.1% and individual’s market share (PGBL and VGBL) to 4.8%. Total Client Assets were R$67 billion in 3Q23, up 16% YoY. Assets from XPV&P, our proprietary insurer, grew 25% YoY, reaching R$53 billion.

Third parties Retirement Plans Client Assets include R$0.7 billion from Modal.

3. CARDS³

Cards TPV (in R$ billion)
In 3Q23, Total TPV was R$10.7 billion, a 61% growth YoY, and 10% growth versus 2Q23.

Active Cards (in ‘000s)
Total active cards were 1.1 million in 3Q23, a growth of 11% QoQ and 106% YoY. We ended 3Q23 with 862 thousand active digital accounts, representing a penetration of 20% of total active clients.