Nu Holdings (NU) Operating Expenses (2021 - 2025)

Nu Holdings' Operating Expenses history runs 5 years deep, the most recent figure standing at -$440.1 million for Q4 2025.

• In Q4 2025, Operating Expenses fell 110.19% year-over-year to -$440.1 million; the TTM figure through Dec 2025 stood at -$1.7 billion (down 167.29% YoY), while the FY2025 annual figure was $2.8 billion, up 12.01% from the prior year.
• Operating Expenses was -$440.1 million for Q4 2025 at Nu Holdings, down from -$349.3 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $4.3 billion in Q4 2024 to a low of -$634.0 million in Q2 2024.
• Historically, Operating Expenses has averaged $281.5 million across 5 years, with a median of -$374.9 million in 2022.
• Biggest YoY gain for Operating Expenses was 110.88% in 2022; the steepest drop was 124.44% in 2022.
• A 5-year view of Operating Expenses shows it stood at $1.5 billion in 2021, then soared by 110.88% to $3.1 billion in 2022, then increased by 5.62% to $3.3 billion in 2023, then surged by 30.09% to $4.3 billion in 2024, then tumbled by 110.19% to -$440.1 million in 2025.
• The last three Operating Expenses figures came in at -$440.1 million (Q4 2025), -$349.3 million (Q3 2025), and -$341.3 million (Q2 2025), per Business Quant data.