NU · Nu Holdings Ltd.

This 6-K filing presents Nu Holdings’ Q1 2026 Managerial P&L — a non-GAAP, internally defined performance framework designed to reflect economic drivers and operational performance, distinct from statutory IFRS reporting. Total Revenue surged 57.6% year-over-year to $5.32 billion, fueled by strong growth in all three revenue components: Credit Income (+60.5%), Float Income (+56.9%), and Fee Income (+46.7%). Gross Profit rose 41.4% to $1.88 billion, while Operating Expenses increased 41.0% to $647.6 million — largely attributable to reclassifications within G&A and Other Operating Expenses, as shown in the Reconciliation Bridge. Notably, the $261.9 million upward adjustment to Operating Expenses (from $(909.5)M to $(647.6)M) reflects operational reallocation rather than new spending, preserving analytical consistency. Net Income grew 56.4% to $871.4 million. Critically, KPMG’s limited assurance report confirms the integrity of the Managerial P&L process — affirming that the supplementary information is properly prepared per Nu’s internal managerial criteria, including definitions, reclassifications, and tax-equivalency adjustments. These adjustments are explicitly stated to be net-income neutral and do not impact IFRS net income, cash flows, equity, or regulatory capital. The filing contains no forward-looking guidance, dividend, buyback, cash flow, or balance sheet disclosures beyond the reconciled P&L. As such, investors should treat this as a high-materiality earnings disclosure anchored in a rigorously assured non-GAAP framework, with growth trends consistent across core business lines and methodological transparency confirmed by an independent auditor.