Nu Holdings Earnings Call Transcripts
Fiscal Year 2026
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Net income surpassed $1 billion for the first time, driven by strong customer growth, deepening engagement, and robust credit performance across Brazil, Mexico, and Colombia. AI-powered underwriting and operational efficiency supported record profitability and a 33% ROE.
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The AGM established a quorum with 94.30% of shares represented and approved two key resolutions: ratification of financial statements and annual report, and reelection of nine directors. Final voting results will be published in a Form 6-K.
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Record revenue and net income were driven by strong customer growth, ARPAC expansion, and operating leverage, with efficiency ratio at a record low. Provisions rose due to seasonality and portfolio growth, but asset quality remains robust. AI transformation and international expansion continue to be strategic priorities.
Fiscal Year 2025
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Q4 2025 saw 45% year-over-year revenue growth to $4.9B, net income up 50% to $895M, and a record 33% ROE, driven by strong customer growth, higher ARPAC, and disciplined credit expansion. 2026 will focus on core markets, global expansion, and AI investments.
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Record Q3 results with 127M customers, $4B+ revenue, and $783M net income. Strong growth in Brazil and Mexico, improved efficiency, and robust asset quality. AI-first strategy and disciplined credit expansion drive profitability and scalability.
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Q2 2025 saw record growth in customers, revenue, and net income, with strong performance across all segments and geographies. Efficiency and profitability improved, while new leadership and technology investments position the company for further expansion and resilience.
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Q1 2025 saw robust customer and revenue growth, with net income up 74% year-over-year and strong operating leverage. Strategic investments in Mexico and Colombia are expected to drive long-term profitability, despite near-term margin pressure.
Fiscal Year 2024
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Record customer and deposit growth drove revenues up 58% FX-neutral to $11.5B in 2024, with net income nearly doubling to $2B and ROE at 28%. Secured lending and new product launches fueled expansion, while efficiency and asset quality improved despite macro headwinds.
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Customer base grew to 110 million, revenue surged 56% year-over-year to $2.9B, and net income hit $553M with ROE above 30%. Expansion in secured lending, new verticals, and strong deposit growth in Mexico and Colombia support future growth.
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Customer base reached 105 million, with revenue up 65% and net income up 134% year-over-year. Lending and deposits saw robust growth across Brazil, Mexico, and Colombia, while operational efficiency and profitability improved. Credit expansion continues, with risk managed in line with expectations.