XP Inc. reported its first quarter 2025 financial results, showcasing significant growth in several key areas. The company's adjusted net income increased by 20% year-over-year, reaching R$1.236 billion. Additionally, the net margin improved to 28.4% from 25.4% in the same quarter of the previous year. Earnings per share $(EPS)$ also grew by 24%, underlining the company's robust performance. Adjusted revenue saw an uplift of R$47 million, while adjusted SG&A expenses decreased by R$59 million. These adjustments were made to exclude one-off impacts from hedging social charges related to share-based compensation expenses, providing a clearer view of the company's core operating performance. XP Inc. also reported a 13% year-over-year increase in client assets, assets under management (AUM), and assets under administration $(AUA.AU)$, totaling R$1.8 trillion. The company continues to expand its client base with 4.7 million active clients, a 2% increase year-over-year, and now has 18.1k total advisors, also up by 2%. These results reflect XP Inc.'s strong financial performance and operational growth, setting new records at the start of the year.