Nu Holdings Ltd. (NU) Announced Q2 2026 Earnings on August 13, 2026, Reporting "gross revenues reached nearly $5.9 billion, up 39% year-over-year"

Nu Holdings Ltd. reported financial results for the second quarter of 2026, stating that "gross revenues reached nearly $5.9 billion, up 39% year-over-year" for the quarter.The company announced that "gross profit reached $2.4 billion during the quarter," representing a 43% year-over-year and 25% sequential increase.Additionally, "net income reached $1.1 billion for the first time in Nubank's history," which was up 17% from the first quarter and 49% year-over-year.The company delivered these results while "sustaining a record 33% return on equity" and reporting that its "efficiency ratio ended the quarter at 19.5%".During the quarter, the company's "customer base reached 139 million customers," which included "almost 118 million in Brazil" and "more than 5 million in Colombia," while "Mexico just reached 16 million customers" by the end of July.Monetization increased with "ARPAC reaching $17," and the "activity rate expanded sequentially to 83.5%". Significant product announcements included launching "Croma, a subscription-based tier for our super core customers," which bundles benefits such as "NuCel, a free ChatGPT Go subscription". Furthermore, in Mexico, "Mexican regulators approved our banking license," completing the company's "transformation from a credit-first fintech into a full-scale digital bank". Management also reported advancing "NuFormer, our foundation model for financial behavior," to a "hybrid linear attention design" that "quadrupled context length training speed and inference speed while reducing the cost of running models in production".Regarding forward outlook, management stated "we continue to expect the efficiency ratio for the full year to average about 20%". For its upcoming expansion, the company is "not planning to spend more than 100 basis points" in its efficiency ratio on U.S. entry.When discussing the sustainability of net interest margin or risk-adjusted net interest margin for the foreseeable future, management stated "we see it as being in the same region as where we are today" and "think that it is sustainable". Lastly, the company highlighted its leadership transition, noting that "Rob Livingston has succeeded Guilherme Lago as our Chief Financial Officer".