XP Inc. (NASDAQ:XP) Q2 2022 Earnings Conference Call August 9, 2022 5:00 PM ET

Company Participants

Andre Martins – Head-Investor Relations

Thiago Maffra – Chief Executive Officer

Bruno Constantino – Chief Financial Officer

Conference Call Participants

Jorge Kuri – Morgan Stanley

Otavio Tanganelli – Bradesco

Tito Labarta – Goldman Sachs

Thiago Batista – UBS

Marcelo Telles – Credit Suisse

Domingos Falavina – JP Morgan

Andre Martins

Okay. Hello. Good evening. Good afternoon, everyone. Thank you for participating in another earnings call of XP Inc. now for the Second Quarter of 2022. I'm Andre Martins. I am the Head of Investor Relations. And I'm joined here today by our CEO, Thiago Maffra; and our CFO, Bruno Constantino; as well as the Investor Relations Team, Marina and Antonio. I hope everyone is safe. And well the materials from this result are already on the Investor Relations website. There you can find the SEC filings of XP Inc. and the definitions of forward-looking statements and how forward-looking statements of this call can differ from actual results.

It's important to highlight as well that this call is being translated to Portuguese. So you can use your – you can use the tool in Zoom to change to Portuguese. [Foreign Language] And also important to highlight that for any questions at the end of the session, you can raise your hand and we will call you on a first-in, first-served basis. I can see that we have already seven raised hands here. So thank you for participating already.

Now I'll move to Bruno to kick off our earning call. Hi, Bruno.

Bruno Constantino

Hi. Thanks, Andre. Hi, Maffra. And hi, everyone. Good evening. It's a pleasure to be here with you for, I believe, the 11th time in terms of quarterly results. As usual I'm going to be brief in the presentation, so we can go to the Q&A as we have already many raised hands, right. Before I start the presentation, we would like to share a video with you. We are steering a little bit hangover here from the experts that we had last week. So let's go for the video and then I come back.

[Video Presentation]

Yes, I hope you like the video. We are – as I said, you're still recovery from expert. It's a pretty, very intense days. And I'd like to take the opportunity in saying thanks for all the personnel that really made it happen. It seems easy, but it's not. People are already working on the 2022 expert event. So it takes a long time to plan everything. And it was really amazing after three years without in presence event we did in 2020 virtual, only virtual and also in 2020 year because of the COVID. And finally, this year we came back. So it was really, really great. And a transformation during the expert, this one was special because as you already know in our numbers and everything that we have disclosed in terms of the growth in our headcounts and a lot of new initiatives that we have been investing. We asked at expert how many people to raise their hands that was their first contact with the expert only internal employees and more than 60%, their first time in an event like that. So the energy was really good. Just sharing that before we to the presentation. So Andre?