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Nu Holdings Q4'24 Earnings Highlights:

BamBamInvest · 2025-02-20T21:24:27.286031Z

$NU Revenue: $2.99B (Est. $3.43B) ❌; UP +58% YoY (FXN) Net Income: $552.6M (Est. $596.7M) ❌; UP +85% YoY Gross Profit: $1.36B (Est. $1.60B) ❌; UP +44% YoY Gross profit margin: 45.6% (Est. 46.7%) ❌ Operating Metrics: Total Customers: 114.2M; UP +22% YoY Customer Additions (Q4): 4.5M Monthly ARPAC: $10.7; UP +23% YoY (FXN) Monthly Activity Rate: 83.1% Cost to Serve Per Active Customer: $0.80 Asset Quality: 15-90 Day NPL Ratio: 4.1% (DOWN 30 bps QoQ) 90+ Day NPL Ratio: 7.0% (DOWN 20 bps QoQ) Liquidity & Lending Highlights: Interest-Earning Portfolio: $11.2B; UP +75% YoY (FXN) Lending Portfolio: $6.1B; UP +22% QoQ (FXN) Credit Card Portfolio: $14.6B; UP +28% YoY (FXN) Total Deposits: $28.9B; UP +55% YoY (FXN) Net Interest Income (NII): NII: $1.7B; UP +57% YoY Net Interest Margin (NIM): 17.7% (DOWN 70 bps QoQ) Risk-Adjusted NIM: 9.5% (DOWN 60 bps QoQ) International Expansion: Mexico: Reached 10M customers (+91% YoY), deposits UP +438% YoY to $4.5B Colombia: 2.5M customers, driven by Cuenta Nu product Brazil Operations: Secured Lending Portfolio: $1.4B; UP +615% YoY High-Income Segment: 700K customers (+132% YoY) Ultravioleta Purchase Volume: $1.8B; UP +106% YoY New Product Launches: NuTravel: Travel booking with multi-currency accounts NuCel: MVNO mobile service launched with Claro Comment from CEO David Vélez: "2024 was a year of transformation for Nu. We nearly doubled our net profit, grew our customer base to over 114 million and significantly deepened our engagement. Our focus on sustainable growth and product diversification continues to strengthen our leadership position in digital banking in Latin America."

$NU (-11,11 %)

Revenue: $2.99B (Est. $3.43B) ❌; UP +58% YoY (FXN)
Net Income: $552.6M (Est. $596.7M) ❌; UP +85% YoY
Gross Profit: $1.36B (Est. $1.60B) ❌; UP +44% YoY
Gross profit margin: 45.6% (Est. 46.7%) ❌

Operating Metrics:

Total Customers: 114.2M; UP +22% YoY
Customer Additions (Q4): 4.5M
Monthly ARPAC: $10.7; UP +23% YoY (FXN)
Monthly Activity Rate: 83.1%
Cost to Serve Per Active Customer: $0.80

Asset Quality:

15-90 Day NPL Ratio: 4.1% (DOWN 30 bps QoQ)
90+ Day NPL Ratio: 7.0% (DOWN 20 bps QoQ)

Liquidity & Lending Highlights:

Interest-Earning Portfolio: $11.2B; UP +75% YoY (FXN)
Lending Portfolio: $6.1B; UP +22% QoQ (FXN)
Credit Card Portfolio: $14.6B; UP +28% YoY (FXN)
Total Deposits: $28.9B; UP +55% YoY (FXN)

Net Interest Income (NII):

NII: $1.7B; UP +57% YoY
Net Interest Margin (NIM): 17.7% (DOWN 70 bps QoQ)
Risk-Adjusted NIM: 9.5% (DOWN 60 bps QoQ)

International Expansion:

Mexico: Reached 10M customers (+91% YoY), deposits UP +438% YoY to $4.5B
Colombia: 2.5M customers, driven by Cuenta Nu product

Brazil Operations:

Secured Lending Portfolio: $1.4B; UP +615% YoY
High-Income Segment: 700K customers (+132% YoY)
Ultravioleta Purchase Volume: $1.8B; UP +106% YoY

New Product Launches:

NuTravel: Travel booking with multi-currency accounts
NuCel: MVNO mobile service launched with Claro

Comment from CEO David Vélez:

"2024 was a year of transformation for Nu. We nearly doubled our net profit, grew our customer base to over 114 million and significantly deepened our engagement. Our focus on sustainable growth and product diversification continues to strengthen our leadership position in digital banking in Latin America."

BamBamInvest

@BamBamInvest

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Nubank reports Q4 2024 results

$NU (-11,11 %)

20 Commentaires

Patrick Schäfer@Hotte1909

I am sticking to my short target of € 22 by the end of 2026, which would then correspond to a kgv of just under 20. It was foreseeable that sales growth would no longer be so extreme. I personally expected a profit increase of between 40-50%, which was clearly exceeded.

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BamBamInvest@BamBamInvest

@Hotte1909 I just think that more was expected here, let's see what the reaction is today.

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Patrick Schäfer@Hotte1909

@BamBamInvest Yes, I am aware of that. That's why I formulated my target for 2026. It can always go up or down in the short term as long as the long-term direction is right

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BamBamInvest@BamBamInvest

@Hotte1909 is definitely an exciting company and it is also clear that it cannot continue to grow so strongly forever.

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Patrick Schäfer@Hotte1909

@BamBamInvest was clearly communicated by Nu itself. I think the target is 20% sales growth for this year and 10% new customers in 2025

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Katharine@Derkatz

@Hotte1909 I see you the same way. Trees don't grow into the sky. The share price is now still quite a bit above my entry price. If it goes down further, I would be prepared to add to it.

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Patrick Schäfer@Hotte1909

@Derkatz I am also still up 12% or so. I would add more at some point. Either when it falls below my EK or at certain price targets. However, I will make this dependent on the GD200 and only in an upward trend

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Tenbagger2024@Tenbagger2024

You have to look for profit growth at a P/E ratio of 24.00. And then such a reaction. You don't have to understand

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BamBamInvest@BamBamInvest

@Tenbagger2024 You don't have to, but this is South America and expectations were not met, whether rationally or not.

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TomTurboInvest@TomTurboInvest

@Tenbagger2024 Let's see, maybe there's still a cheap tranche to dust off today. This is another overreaction from the market, we'll be happy in a few weeks. The business model works, next time there will be an overreaction in the other direction.

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Tenbagger2024@Tenbagger2024

@TomTurboInvest
In the long term anyway

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Tenbagger2024@Tenbagger2024

@TomTurboInvest
Trump has been making the entire market nervous for weeks

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TomTurboInvest@TomTurboInvest

23H

@Tenbagger2024 This will also subside at some point - as the saying goes, political stock markets have short legs 😅

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