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

Nu Holdings' Operating Expenses history runs 5 years deep, the most recent figure standing at $4.6 billion for Q4 2025.

• On a quarterly basis, Operating Expenses rose 7.44% year-over-year to $4.6 billion in Q4 2025; TTM through Dec 2025 was $2.8 billion, a 12.01% increase from a year earlier, with the FY2025 full-year figure at $2.8 billion, up 12.01% from the prior year.
• Operating Expenses grew to $4.6 billion in Q4 2025 per NU's latest filing, from -$697.1 million in the prior quarter.
• Across five years, Operating Expenses topped out at $4.6 billion in Q4 2025 and bottomed at -$697.1 million in Q3 2025.
• The 5-year median for Operating Expenses is -$397.7 million (2022), against an average of $501.9 million.
• Biggest YoY gain for Operating Expenses was 110.88% in 2022; the steepest drop was 124.44% in 2022.
• Year by year, Operating Expenses 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 climbed by 7.44% to $4.6 billion in 2025.
• Per Business Quant, the three latest NU Operating Expenses figures stand at $4.6 billion (Q4 2025), -$697.1 million (Q3 2025), and -$667.6 million (Q2 2025).