Nu Holdings (NU) Cost of Revenue (2021 - 2025)

Nu Holdings has reported Cost of Revenue for 5 years, with the latest figure at $2.7 billion in Q4 2025.

• For the quarter ending Q4 2025, Cost of Revenue rose 68.69% year-over-year to $2.7 billion; the trailing twelve-month figure through Dec 2025 stood at $9.1 billion (up 46.06% YoY), and the FY2025 full-year result was $9.1 billion, up 46.06% from the prior year.
• Cost of Revenue for Q4 2025 stood at $2.7 billion, up from $2.4 billion in the prior quarter.
• The five-year high for Cost of Revenue was $2.7 billion in Q4 2025, with the low at $129.4 million in Q1 2021.
• Average Cost of Revenue over 5 years is $1.2 billion, with a median of $1.2 billion recorded in 2023.
• Year-over-year, Cost of Revenue surged 367.94% in 2022 and rose 24.05% in 2025.
• Tracing NU's Cost of Revenue over 5 years: stood at $409.1 million in 2021, then soared by 113.21% to $872.2 million in 2022, then jumped by 44.66% to $1.3 billion in 2023, then rose by 28.87% to $1.6 billion in 2024, then surged by 68.69% to $2.7 billion in 2025.
• The last three Cost of Revenue figures came in at $2.7 billion (Q4 2025), $2.4 billion (Q3 2025), and $2.1 billion (Q2 2025), per Business Quant data.

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