Nu Holdings Ltd. (NU) Earnings Call Transcripts

Nu Holdings Ltd.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Nu Holdings Ltd. reported record revenue of $5 billion, marking a significant milestone for the company. Net income reached $871 million, up 41% year-over-year, driven by a growing customer base of over 135 million. Management maintained a positive outlook, emphasizing ongoing expansion in Brazil and Mexico, while also highlighting their AI transformation efforts, which are expected to enhance operational efficiency and customer engagement moving forward.

Reported metrics

Guidance from management

Management expects the efficiency ratio to normalize towards 20% for the full year 2026, while continuing to focus on customer growth and AI transformation efforts.

What management said

I do. And I think we even mentioned a bit in the opening remarks, if you go through kind of Slide 14, Yuri, you can see that the risk-adjusted margin contracted from 10.5 to about 9.5 mostly because of the additional CLA in the first quarter, which does not indicate any sign of credit deterioration. And therefore, once seasonality goes out, you should see risk-adjusted NIMs converging back to the levels where it was ...

So thank you, everyone. We now have approached 60 minutes of the call. So we are now concluding today's call. On behalf of Nu Holdings, our Investor Relations team, I want to thank you very much for your time and participation on Nu earnings call today. Over the coming days, we will be following up with questions received tonight, but we were not able to answer. And please do not hesitate to reach out to our team if...

What analysts pressed on

Analysts expressed concerns regarding asset quality, particularly due to the company's exposure to lower-income segments. There were also questions about the sustainability of growth in the secured lending segment amidst regulatory changes affecting FGTS loans.

Main topics on the call

• Record Revenue and Net Income — Nu Holdings achieved record revenue of $5 billion in Q1 2026, with net income at $871 million, representing a 41% increase year-over-year. Management stated, 'The first quarter of 2026 was another clean expression of tha...
• Customer Growth and Market Position — The company reported a customer base exceeding 135 million, with significant growth in Brazil, Mexico, and Colombia. In Brazil, they are the largest private financial institution, with over 115 million customers, and in ...
• AI Transformation Strategy — Management emphasized the ongoing AI transformation as a core priority, stating, 'We are not just adding AI to banking, we are rebuilding banking around AI.' This initiative aims to enhance operational efficiency and cus...
• Credit Portfolio Growth — The consolidated credit portfolio grew to $37.2 billion, up 40% year-over-year. Management noted that the growth was driven by strong demand across all products, particularly unsecured lending, which grew 53%.

Read the full Nu Holdings Ltd. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 21 Nu Holdings Ltd. earnings call transcripts on record, spanning February 22, 2022 to August 6, 2026. Based on this history, Nu Holdings Ltd. reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NU

Exchange

NYSE

Country

US

Sector

Financials

Industry

Banks

Calls on record

21

First call

February 22, 2022

Most recent

August 6, 2026

Reporting cadence

quarterly