Nu Holdings reported strong growth and profitability, with significant customer base expansion and credit portfolio growth. AI integration is enhancing operations, and efficiency is improving. However, challenges include higher funding costs in Brazil and potential regulatory impacts in Mexico and Brazil.

Company Guidance

During the third quarter of 2025, Nu Holdings demonstrated substantial growth across several key metrics, reinforcing its position as a leading digital bank in Latin America. The customer base expanded to 127 million, with over 4 million net additions, maintaining an activity rate above 83%. Mexico's customer base surpassed 13 million, capturing around 14% of the adult population, while Colombia approached 4 million customers, highlighting the scalability of Nu's model. The quarter's revenue exceeded $4 billion, driven by an ARPAC surpassing $13, and net income reached $783 million, reflecting solid profitability. The company's cost-to-income ratio improved to 28%, showcasing enhanced efficiency. Nu Holdings' credit portfolio grew to $30.4 billion, a 42% year-over-year increase FX-neutral, with secured lending up 133% and unsecured loans up 63%. Deposits rose to $38.8 billion, with a cost of funding reduced to 89% of interbank rates. Despite a contraction in nominal net interest margins due to a strategic shift towards lower risk assets, risk-adjusted margins expanded to 9.9%. The gross profit margin increased to 43.5%, and the company achieved a record ROE of 31%.

Customer Base Expansion

Nu Holdings' customer base grew to 127 million, with over 4 million net additions in the quarter. Activity rate remained above 83%.

Record Revenue and Profitability

Record revenues surpassed $4 billion, with a net income of $783 million, reflecting a strong profit margin.

Growth in Mexico and Colombia

In Mexico, Nu Holdings has surpassed 13 million customers, reaching around 14% of the adult population. Colombia is approaching 4 million customers.

Strong Credit Portfolio Growth

Total credit balances reached $30.4 billion, up 42% year-over-year. Secured lending grew 133% and unsecured loans 63% year-over-year.

AI Integration in Operations

Nu Holdings is integrating AI deeply into operations, enhancing customer personalization and risk management. Initial models have improved credit card limit policies in Brazil.

Improved Efficiency Ratio

The efficiency ratio decreased to 27.7%, demonstrating enhanced productivity and operating leverage.

Nu Holdings (NU) Earnings, Revenues Date & History

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NU Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 19, 2026	2025 (Q4)	0.19 / -	0.113	―	―	―
Nov 13, 2025	2025 (Q3)	0.16 / 0.16	0.113	41.59% (+0.05)
Aug 14, 2025	2025 (Q2)	0.13 / 0.14	0.1	40.00% (+0.04)
May 13, 2025	2025 (Q1)	0.12 / 0.11	0.078	46.15% (+0.04)
Feb 20, 2025	2024 (Q4)	0.12 / 0.11	0.08	41.25% (+0.03)
Nov 13, 2024	2024 (Q3)	0.11 / 0.11	0.062	82.26% (+0.05)
Aug 13, 2024	2024 (Q2)	0.10 / 0.10	0.05	100.00% (+0.05)
May 14, 2024	2024 (Q1)	0.08 / 0.08	0.039	100.00% (+0.04)
Feb 22, 2024	2023 (Q4)	0.08 / 0.08	0.02	300.00% (+0.06)
Nov 14, 2023	2023 (Q3)	0.06 / 0.06	0.01	520.00% (+0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NU Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 13, 2025	$15.59	$15.82	+1.48%
Aug 14, 2025	$12.01	$13.10	+9.08%
May 13, 2025	$13.14	$13.49	+2.66%
Feb 20, 2025	$13.34	$10.82	-18.89%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.