Nu (NU) investor relations material

Executive summary

• Customer base reached nearly 123 million with over 4.1 million net additions and activity rate above 83%.

• Revenue hit $3.7 billion, up 40% year-over-year FX-neutral and 85% CAGR since 2021; net income rose 42% YoY FXN to $637 million, nearly tripling in two years.

• Expanded product offerings and customer segments across Brazil, Mexico, and Colombia, with significant increases in credit and investment customers.

• Welcomed new executive leadership, including a former central bank governor and global technology leaders, to drive innovation and expansion.

• Maintained robust capital and liquidity positions, supporting continued growth and resilience.

Financial highlights

• Gross profit reached $1.55 billion, with a margin of 42%; net interest income grew 33% YoY FXN to $2.1 billion.

• Deposits grew 41% YoY FXN to $36.6 billion; total credit portfolio expanded 40% YoY FXN to $27.3 billion.

• Loan originations hit a record $3.6 billion, up 43% YoY FXN; interest-earning portfolio grew 55% YoY FXN to $15.7 billion.

• Monthly ARPAC increased 18% YoY FXN to $12.2; cost to serve per active customer remained stable at $0.80.

• Adjusted net income for Q2'25 was $694.5 million, up from $562.5 million in Q2'24.

Outlook and guidance

• Expect continued margin expansion as balance sheet is optimized and funding costs decrease in Mexico and Colombia.

• Management anticipates ongoing growth in customer base, product adoption, and profitability across all geographies.

• Efficiency ratio may temporarily rise due to investments but is expected to decline over time, supporting sustainable profitability.

• Focus remains on scaling efficiently while maintaining strong earnings and operational discipline.

• Confident in opportunity to win in Mexico, focusing on disciplined execution and long-term value creation.