NU Q4 Earnings Call Highlights

1 week ago 7

MarketBeat

Sat, February 28, 2026 astatine 1:28 PM CST 8 min read

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131 cardinal customers aft adding 17 million successful 2025, with an 83% enactment rate and ARPAC rising to $15 (+27% YoY), indicating stronger engagement and monetization potential.
Using a caller Managerial P&L, Nu reported Q4 $4.9 cardinal revenue (+45% YoY), $895 cardinal nett income (+50% YoY) and grounds 33% ROE, portion its ratio ratio improved to 19.9%.
Total portfolio reached $32.7 billion (+40% YoY) with deposits of $41.9 billion, Nu’s nuFormer AI is successful accumulation for recognition decisioning and the institution is preparing U.S. enlargement aft conditional OCC approval, but absorption warned 2026 volition beryllium an investment year that could temporarily unit efficiency.
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NU (NYSE:NU) executives highlighted beardown lawsuit growth, higher monetization, and grounds profitability during the company’s fourth-quarter 2025 net call, portion besides outlining a 2026 docket centered connected core-market execution, groundwork for U.S. expansion, and broader usage of artificial intelligence.

Founder and CEO David Vélez said 2025 “was a fantastic year” and pointed to continued momentum successful Q4 arsenic grounds of the company’s operating model. Nu ended the twelvemonth with 131 cardinal customers, adding 17 cardinal nett caller customers, portion maintaining an 83% enactment rate.

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Engagement and monetization improved, with ARPAC (average gross per progressive customer) reaching $15, up astir 9% quarter-over-quarter and 27% year-over-year, which absorption attributed to deeper monetization crossed the platform. Vélez besides noted Nu’s ARPAC remains materially beneath incumbent competitors, which helium said provides runway for further cross-sell and merchandise expansion.

CFO Guilherme Lago introduced a caller Managerial P&L and related indicators, describing the alteration arsenic a structural reorganization of IFRS enactment items intended to “enhance comparability and amended bespeak economical contribution.” He emphasized that the model does not alteration nett income, currency flow, equity, oregon regulatory superior and is afloat reconciled to IFRS, with a elaborate reconciliation study posted to the company’s capitalist relations site.

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