Xp XP
NASDAQ XP
$17.06 +0.25 (+1.49%)
As of: Aug 24, 2026 · 3:59 PM EDT

Xp (XP) Operating Expenses (2018 - 2026)

Xp (XP) posted quarterly Operating Expenses of -$311.8 million for Q1 2026, down 126166716.9% year-over-year from N/an in Q1 2025, and down 157.94% quarter-over-quarter from $538.1 million in Q4 2025.

Xp (XP) Operating Expenses (2018 - 2026) Analysis & Trends

Xp's Operating Expenses history runs 9 years deep, the most recent figure standing at -$311.8 million for Q1 2026.

  • In Q1 2026, Operating Expenses fell 126166716.9% year-over-year to -$311.8 million; the TTM figure through Mar 2026 stood at -$83.0 million (down 106.98% YoY), while the FY2025 annual figure was $1.0 billion, up 16.31% from the prior year.
  • Operating Expenses for Q1 2026 stood at -$311.8 million, down from $538.1 million in the prior quarter.
  • The five-year high for Operating Expenses was $1.5 billion in Q4 2023, with the low at -$316.4 million in Q3 2023.
  • The 5-year median for Operating Expenses is -$280.03 (2024), against an average of $172.0 million.
  • The sharpest annual moves came in 2022 and 2026: Operating Expenses soared 122.18% in 2022, then slumped 126166716.9% in 2026.
  • Xp's Operating Expenses stood at $1.5 billion in 2022, then climbed by 4.59% to $1.5 billion in 2023, then dropped by 4.6% to $1.5 billion in 2024, then sank by 63.45% to $538.1 million in 2025, then plunged by 157.94% to -$311.8 million in 2026.
  • Business Quant data shows XP's Operating Expenses at -$311.8 million in Q1 2026, $538.1 million in Q4 2025, and -$309.3 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Morgan Stanley 333.21 Bn 173.07 Bn - 13.90 Bn
2 Goldman Sachs 311.14 Bn -665.21 Bn - 11.67 Bn
3 Schwab Charles 196.95 Bn 123.36 Bn - 3.40 Bn
4 Robinhood Markets 93.19 Bn 75.81 Bn 1.20 Bn 734.00 Mn
5 Interactive Brokers 41.71 Bn -22.59 Bn - 440.00 Mn
6 LPL Financial Holdings 29.06 Bn 26.36 Bn - 4.67 Bn
7 Tradeweb Markets 23.03 Bn 20.97 Bn - 313.68 Mn
8 Circle Internet 21.70 Bn 19.97 Bn 288.85 Mn 254.49 Mn
9 Futu Holdings 16.14 Bn 214.18 Mn 733.58 Mn -200.78 Mn
10 Xp 8.97 Bn -2.02 Bn -283.59 Mn -336.56 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -311.77 Mn
Dec 31, 2025 538.11 Mn
Sep 30, 2025 -309.34 Mn
Jun 30, 2025 -277.68
Mar 31, 2025 -247.11
Dec 31, 2024 1.47 Bn
Sep 30, 2024 -282.22 Mn
Jun 30, 2024 -280.03
Mar 31, 2024 -293.57 Mn
Dec 31, 2023 1.54 Bn
Sep 30, 2023 -316.44 Mn
Jun 30, 2023 -257.65
Mar 31, 2023 -173.60 Mn
Dec 31, 2022 1.48 Bn
Sep 30, 2022 -245.64 Mn
Jun 30, 2022 41.55 Mn
Mar 31, 2022 -213.80 Mn
Dec 31, 2021 1.10 Bn
Sep 30, 2021 -213.43 Mn
Jun 30, 2021 -187.34 Mn