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Nu Holdings Ltd. (NYSE:NUB3: NUBR33)), (“Nu” or the “Company”), one of the world’s largest digital banking platforms and one of the leading technology companies in the world, released today its Fourth Quarter and Full Year 2021 financial results. Financial results are expressed in US dollars and are presented in accordance with International Financial Reporting Standards (IFRS). The full earnings release has been made available on the Company’s Investor Relations website at www.investors.nuas well as the details of the Earnings Conference Call Nu will hold today at 5:00pm Eastern time/7:00pm Brasília time.
“Nu is off to a strong start as a public company, as our fourth quarter performance makes clear. Nu’s stock exchange listings as well as our NuSócios program also opened the door for millions of Brazilians to be included in the capital markets. Maintaining our long -term orientation and putting customers first, we are now accelerating efforts to build out Nu’s powerful ecosystem, enhance our digital banking platform and accelerate expansion into our new geographic markets to improve financial access for many others,” said David Vélez, founder and CEO.
Q4’21 and FY’21 Results Snapshot
Below are Q4’21 and full year 2021 performance highlights of Nu Holdings Ltd.:
Operating Highlights:
- Customer grownh: 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 …
Full story available on Benzinga.com
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