diff --git a/crates/calc/src/eval.rs b/crates/calc/src/eval.rs
index 8216f5d..d31a997 100644
--- a/crates/calc/src/eval.rs
+++ b/crates/calc/src/eval.rs
@@ -1200,9 +1200,18 @@ impl<'h> Evaluator<'h> {
             let same_len = if vertical { r.range.height() == l.range.height() } else { r.range.width() == l.range.width() };
             if !matches!(key, Value::Array(_)) && (vertical || horizontal) && same_len {
                 let mut xargs = vec![Arg { value: key, from_ref: false }, Arg { value: self.area_value(&l), from_ref: true }];
-                for i in [4, 5] {
+                // An empty match_mode before a given search_mode is the default (0), not the end.
+                let given = |i: usize| args.get(i).is_some_and(|e| !matches!(e, Expr::Missing));
+                let last = if given(5) {
+                    5
+                } else if given(4) {
+                    4
+                } else {
+                    3
+                };
+                for i in 4..=last {
                     match args.get(i) {
-                        Some(Expr::Missing) | None => break,
+                        Some(Expr::Missing) | None => xargs.push(Arg { value: Value::Number(0.0), from_ref: false }),
                         Some(e) => {
                             let value = self.value(e);
                             xargs.push(Arg { value, from_ref: false });
diff --git a/crates/calc/src/tests.rs b/crates/calc/src/tests.rs
index 8b33f93..791da35 100644
--- a/crates/calc/src/tests.rs
+++ b/crates/calc/src/tests.rs
@@ -118,6 +118,13 @@ fn xlookup_returns_a_reference() {
     assert_eq!(t.get("D6"), Value::Bool(true));
     t.set("D7", "=\"x\"&XLOOKUP(\"e\",A1:A5,B1:B5)&\"y\"");
     assert_eq!(t.get("D7"), Value::from("xy"));
+    // An empty match_mode keeps the search_mode after it: search last to first.
+    t.set("A6", "b");
+    t.set("B6", "20");
+    t.set("D8", "=XLOOKUP(\"b\",A1:A6,B1:B6,,,-1)");
+    assert_eq!(t.num("D8"), 20.0);
+    t.set("D9", "=XLOOKUP(\"b\",A1:A6,B1:B6)");
+    assert_eq!(t.num("D9"), 2.0);
 }
 
 #[test]