Nu Holdings Shatters $1 Billion Net Income Barrier in Q2 2026
Nu Holdings, the innovative financial services company, has achieved a monumental milestone in the second quarter of 2026. During its conference call to discuss the results for the period, Nu Holdings' Founder and Chief Executive Officer, David Vélez, proudly announced that the company had generated more than $1 billion in net income.
This significant achievement is a testament to the company's customer-centric approach and its ability to translate this focus into an earnings-generating formula. The milestone is also a reflection of the hard work and dedication of Nu Holdings' team across various markets, including Brazil, Mexico, and Colombia.
Nu Holdings' customer base has continued to grow steadily, reaching 139 million customers in the second quarter of 2026. This growth includes almost 118 million customers in Brazil, more than 5 million in Colombia, and at the end of July, Mexico reached 16 million customers. The company's activity rate expanded sequentially to 83.5%, while Brazil's surpassed 86% for the first time.
The combination of a larger customer base and deeper engagement has driven monetization, with Average Revenue Per Active Customer (ARPAC) reaching $17. Gross revenue generated in the quarter stood at $5.9 billion, while maintaining a highly efficient operating model with an efficiency ratio of 20%. This operating leverage allows Nu Holdings to continue investing in its core markets while laying the foundation for international expansion.
In Brazil, Nu Holdings sees significant growth potential within its existing customer base, representing roughly $30 billion in industry gross profit. The company is well-positioned to deepen relationships with customers and capture more of this profit pool due to its capabilities built over 13 years. These capabilities enable the company to expand financial access while delivering a better customer experience, lower costs, and increasingly personalized products.
Moreover, Nu Holdings has identified a meaningful segment between mass market and high-income customers that it could serve better. This realization comes after launching Ultravioleta, a high-income focused brand and product, in 2021. The company's nearly 1 million Ultravioleta customers have shown significant growth, with purchase volumes up 41% and assets under custody increasing by 37% year-over-year in Q2 2026.
Nu Holdings' achievement demonstrates its ability to execute on its long-term strategy of optimizing for the next decade. By continuing to invest in its core markets and laying the groundwork for international expansion, Nu Holdings is poised to maintain its growth trajectory while delivering impressive results like those seen in the second quarter of 2026.
