Andre Parize
Chief Investor Relations Officer

Good evening, everyone. I'm Andre Parize, Investor Relations Officer at XP, and thank you for joining us, and welcome to our First Quarter 2026 Earnings Call. Today's presentation will be delivered by our CEO, Thiago Maffra; and our CFO, Victor Mansur.

And right after the presentation, they will be both available for the Q&A session. [Operator Instructions] Before we begin, please see the legal disclaimer on Page 2 of today's presentation for information regarding forward-looking statements.

The presentation is available for download on our Investor Relations website with further details in the SEC Filings section of our IR website. To begin the presentation, I will now turn it over to Thiago Maffra. Good evening, Maffra.

Thiago Maffra
Chief Executive Officer

Thank you, Andre. Good evening, everyone, and thank you for joining us for the first quarter 2026 earnings call. Let's begin by reviewing the key highlights of the quarter.

Client assets combining AUM and AUA reached BRL 2.1 trillion, which represents a 21% year-over-year growth. We ended the period with 18,300 advisers, up 1% year-over-year, while our active client base totaled BRL 4.8 million, a 2% year-over-year increase.

This quarter, gross revenues came in at BRL 4.9 billion, up 8% year-over-year. EBT also grew 8% to BRL 1.4 billion and net income reached BRL 1.3 billion, rising 7% year-over-year. On profitability, our ROE achieved 21.7% for the quarter.