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Nu Holdings Surged 9% in Premarket Trading

Tiger Newspress2022-02-23

Nu Holdings reported Q4'21 total revenue of $635.9 million, increasing year-over-year (YoY) by 224.3%.

Operating Highlights:

  • Customer growth: Nu added 5.8 million customers in the quarter, reaching a total 53.9 million customers across Brazil, Mexico and Colombia.
  • Engagement and activity rates: Average Revenue per Active Customer (ARPAC) expanded to $5.6 in Q4'21 (from $3.3 in Q4’20) and the activity rate1 to 76.3% (from 65.6% in Q4’20), with active customers reaching 41.1 million in the year-end. Nu estimates that over 55% of the monthly active customers that have been Nu customers for over a year have made Nu their primary banking account provider.
  • Low-cost operating platform: Monthly Average Cost to Serve Per Active Customer decreased 20.4% on an FX neutral basis (FXN)2 to $0.9 in Q4'21 (and to $0.8 in 2021), while non-performing loan delinquency rates have remained below Nu's historical averages and industry averages.

Financial Highlights:

  • Revenue: total revenue for Q4'21 reached $635.9 million, increasing year-over-year (YoY) by 224.3% FXN. In 2021, total revenue was $1.7 billion, setting a new record for the Company.
  • Gross Profit: totaled $226.9 million in Q4'21, increasing YoY 207% FXN, and increased to $732.9 million in 2021, up YoY 131.6% FXN. The gross margin was 35.7% in Q4'21 compared to 37.7% in Q4'20.
  • Adjusted Net income: Nu reported Adjusted Net Income of $3.2 million in Q4'21. In 2021, the Company reported an Adjusted Net Income of $6.6 million compared to an Adjusted Net Loss of $26.8 million in 2020. This was the first year the Company posted positive Adjusted Net Income.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment6

  • Looyusooi
    ·2022-02-24
    Ok
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  • CHOOTC
    ·2022-02-23
    Like
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    • CHOOTC
      like
      2022-02-23
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  • koolgal
    ·2022-02-23
    Great news for Nubank investors as Nubank has just reported outstanding earnings today.  No wonder its share price surged 9%!  It is certainly a Nu way of banking in Latin America for the masses!  It's not surprising that Warren Buffett aka The Legend has just increased his holdings by a kool 1 Billion dollars! 
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    • zuma
      thx
      2023-04-26
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    • koolgal
      Very good.  Go Nubank!
      2022-02-23
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    • koolgal
      Thanks
      2022-02-23
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    View more 2 comments
  • Barbarazhao
    ·2022-02-23
    Very well done 
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    • Mml
      Yup
      2022-02-23
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    • lololol13
      yes
      2022-02-23
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  • KuiQ
    ·2022-02-23
    .
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  • rL
    ·2022-02-23
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    • koolgal
      Yay! I made the right choice in buying Nubank!  It's a Nu Way of Banking in Latin America!
      2022-02-23
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