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

Nu Holdings' Cost of Revenue history runs 5 years deep, the most recent figure standing at $121.0 million for Q4 2025.

• On a quarterly basis, Cost of Revenue rose 132.77% year-over-year to $121.0 million in Q4 2025; TTM through Dec 2025 was $302.8 million, a 22.9% increase from a year earlier, with the FY2025 full-year figure at $302.8 million, up 22.9% from the prior year.
• Cost of Revenue advanced to $121.0 million in Q4 2025 per NU's latest filing, from $70.3 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $121.0 million in Q4 2025 and bottomed at $4.9 million in Q1 2021.
• The 5-year median for Cost of Revenue is $45.3 million (2023), against an average of $47.6 million.
• Across the five-year window, Cost of Revenue surged 467.25% in 2022 and sank 30.19% in 2023, its largest moves.
• Year by year, Cost of Revenue stood at $34.5 million in 2021, then soared by 48.02% to $51.1 million in 2022, then jumped by 39.68% to $71.3 million in 2023, then decreased by 27.11% to $52.0 million in 2024, then soared by 132.77% to $121.0 million in 2025.
• Per Business Quant, the three latest NU Cost of Revenue figures stand at $121.0 million (Q4 2025), $70.3 million (Q3 2025), and $67.3 million (Q2 2025).