Xp (XP) Cost of Revenue (2018 - 2026)

Xp (XP) recorded quarterly Cost of Revenue of $274.0 million in Q1 2026, up 139.94% quarter-over-quarter from -$686.0 million in Q4 2025, and up 25.16% on a YoY basis from $218.9 million in Q1 2025.

Xp (XP) Cost of Revenue (2018 - 2026) Analysis & Trends

Xp's Cost of Revenue history runs 9 years deep, the most recent figure standing at $274.0 million for Q1 2026.

  • In Q1 2026, Cost of Revenue rose 25.16% year-over-year to $274.0 million; the TTM figure through Mar 2026 stood at -$411.5 million (down 100.0% YoY), while the FY2025 annual figure was $52.8 million, up 105.8% from the prior year.
  • Cost of Revenue was $274.0 million for Q1 2026 at Xp, up from -$686.0 million in the prior quarter.
  • In the past five years, Cost of Revenue ranged from a high of $219563.3 billion in Q4 2024 to a low of -$686.0 million in Q4 2025.
  • Historically, Cost of Revenue has averaged $12915.6 billion across 5 years, with a median of $186.5 million in 2022.
  • The sharpest annual moves came in 2024 and 2025: Cost of Revenue jumped 6.413291904599797e+20% in 2024, then plunged 100.0% in 2025.
  • A 5-year view of Cost of Revenue shows it stood at $26.4 million in 2022, then slumped by 100.0% to $0.0 in 2023, then surged by 6.413291904599797e+20% to $219563.3 billion in 2024, then plunged by 100.0% to -$686.0 million in 2025, then soared by 139.94% to $274.0 million in 2026.
  • The last three Cost of Revenue figures came in at $274.0 million (Q1 2026), -$686.0 million (Q4 2025), and $271816.4 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 SOL Strategies 94,425.84 Bn 94,425.84 Bn - -
2 Morgan Stanley 349.82 Bn 216.29 Bn - -
3 Goldman Sachs 333.85 Bn -603.70 Bn - -
4 Schwab Charles 160.31 Bn 115.33 Bn - -
5 Robinhood Markets 97.28 Bn 92.64 Bn 960.00 Mn 107.00 Mn
6 Interactive Brokers 42.79 Bn 53.38 Bn - -
7 LPL Financial Holdings 23.54 Bn 22.51 Bn - -
8 Tradeweb Markets 21.20 Bn 19.96 Bn - -
9 Iren 19.97 Bn 17.75 Bn 144.76 Mn 39,000.00
10 Xp 7,366.40 -11.23 Bn 93.11 Mn 274.03 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 274.03 Mn
Mar 31, 2026 274.03 Mn
Dec 31, 2025 -686.02 Mn
Dec 31, 2025 -686.02 Mn
Sep 30, 2025 271,816.43
Sep 30, 2025 271,816.43
Jun 30, 2025 248,883.26
Jun 30, 2025 248,883.26
Mar 31, 2025 218.94 Mn
Mar 31, 2025 218.94 Mn
Dec 31, 2024 219,563.32 Bn
Dec 31, 2024 219,563.32 Bn
Sep 30, 2024 0.25
Sep 30, 2024 0.25
Jun 30, 2024 237.79 Mn
Jun 30, 2024 237.79 Mn
Mar 31, 2024 246.48 Mn
Mar 31, 2024 246.48 Mn
Dec 31, 2023 0.00
Dec 31, 2023 0.00