Xp (XP) Research & Development (2018 - 2025)
Xp (XP) posted Research & Development of $42.1 million for Q1 2025, up 376.42% on a QoQ basis from $8.8 million in Q4 2024, and down 1.12% year-over-year from $42.6 million in Q1 2024.
Analysis
Xp (XP) Research & Development (2018 - 2025) Analysis & Trends
Xp has reported Research & Development for 8 years, with the latest figure at $42.1 million in Q1 2025.
- On a quarterly basis, Research & Development fell 1.12% year-over-year to $42.1 million in Q1 2025; TTM through Mar 2025 was $100.9 million, a 15.24% increase from a year earlier, with the FY2024 full-year figure at $9.6 million, up 31.1% from the prior year.
- Research & Development was $42.1 million for Q1 2025 at Xp, up from $8.8 million in the prior quarter.
- The five-year high for Research & Development was $42.6 million in Q1 2024, with the low at $2.4 million in Q4 2021.
- Average Research & Development over 5 years is $22.9 million, with a median of $23.5 million recorded in 2021.
- The sharpest annual moves came in 2022 and 2023: Research & Development soared 221.25% in 2022, then fell 4.33% in 2023.
- Over 5 years, Research & Development stood at $2.4 million in 2021, then surged by 221.25% to $7.6 million in 2022, then retreated by 4.33% to $7.3 million in 2023, then grew by 20.88% to $8.8 million in 2024, then jumped by 376.42% to $42.1 million in 2025.
- The last three Research & Development figures came in at $42.1 million (Q1 2025), $8.8 million (Q4 2024), and $42.6 million (Q1 2024), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 101.20 Bn | 83.88 Bn | 1.20 Bn | 256.00 Mn |
| 2 | Interactive Brokers | 41.17 Bn | -6.79 Bn | - | - |
| 3 | LPL Financial Holdings | 27.86 Bn | 25.16 Bn | - | 26.20 Mn |
| 4 | Futu Holdings | 15.80 Bn | -3.84 Bn | 792.50 Mn | -63.89 Mn |
| 5 | UP Fintech Holding | 12.81 Bn | 12.81 Bn | - | - |
| 6 | Xp | 10.32 Bn | 5.47 Bn | 105.39 Mn | - |
| 7 | Webull | 4.83 Bn | 2.90 Bn | 85.87 Mn | 22.16 Mn |
| 8 | eToro | 2.53 Bn | 1.57 Bn | 63.50 Mn | 33.83 Mn |
| 9 | Solowin Holdings | 402.47 Mn | 383.36 Mn | - | - |
| 10 | TOP Financial | 127.44 Mn | 82.47 Mn | - | 80,651.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2025 | 42.15 Mn |
| Dec 31, 2024 | 8.85 Mn |
| Mar 31, 2024 | 42.63 Mn |
| Dec 31, 2023 | 7.32 Mn |
| Mar 31, 2023 | 29.99 Mn |
| Dec 31, 2022 | 7.65 Mn |
| Sep 30, 2022 | 32.42 Mn |
| Jun 30, 2022 | 34.27 Mn |
| Mar 31, 2022 | 28.35 Mn |
| Dec 31, 2021 | 2.38 Mn |
| Sep 30, 2021 | 23.53 Mn |
| Jun 30, 2021 | 19.75 Mn |
| Mar 31, 2021 | 18.09 Mn |
| Dec 31, 2020 | 1.84 Mn |
| Jun 30, 2020 | 12.55 Mn |
| Mar 31, 2020 | 12.69 Mn |
| Dec 31, 2019 | 5.27 Mn |
| Jun 30, 2019 | 10.51 Mn |
| Dec 31, 2018 | 3.63 Mn |