Nu Holdings Files Q2 2026 Managerial P&L Reconciliation With Independent Assurance
Brazilian digital bank discloses supplementary financial framework showing $1.06 billion net income for the second quarter, with KPMG limited assurance on reporting methodology.
Filing Overview
Nu Holdings Ltd. (NU) filed a 6-K with the SEC on August 13, 2026, disclosing its Managerial Profit and Loss reconciliation framework for the second quarter of 2026, accompanied by an independent limited assurance report from KPMG on the company's process for compiling and presenting the supplementary consolidated financial information (6-K filing, 2026-08-13).
The Brazilian digital bank, with a market capitalization of approximately $67 billion and last trading at $13.93, presented a managerial view of its financial performance designed to "facilitate understanding of the underlying operations and economic drivers" of its results, while emphasizing that IFRS consolidated financial statements "remain the sole basis for statutory reporting" (6-K filing, 2026-08-13).
Second Quarter Performance
For the three-month period ended June 30, 2026, Nu Holdings reported net income of $1,061.1 million under its Managerial P&L framework, compared to $637.0 million in the year-ago quarter (6-K filing, 2026-08-13). Total revenue reached $5,875.7 million, up from $3,772.3 million in Q2 2025, representing year-over-year growth of approximately 56%.
The revenue breakdown showed Credit Income of $3,604.8 million, Float Income of $1,454.4 million, and Fee Income of $816.4 million for the quarter (6-K filing, 2026-08-13). Total Direct Costs amounted to $3,434.6 million, including Cost of Credit of $1,690.8 million and Funding Cost of $1,372.1 million.
Gross profit for the quarter stood at $2,441.1 million, while operating expenses totaled $806.2 million. Earnings before tax (EBT) came in at $1,630.3 million, with income taxes of $569.2 million (6-K filing, 2026-08-13).
Methodology and Assurance
The filing included a detailed reconciliation bridge showing adjustments of $362.4 million to total revenue and $267.9 million to total direct costs between the accounting P&L and managerial P&L presentations (6-K filing, 2026-08-13). The company applies "operational reclassifications" and "tax-equivalency adjustments" that are "net-income neutral and do not alter reported income tax expenses under IFRS or cash taxes paid."
KPMG Auditores Independentes provided a limited assurance conclusion on the company's process, stating that "nothing has come to our attention that causes us to believe" that management's statement regarding the proper preparation of the Managerial P&L "is not fairly stated" (6-K filing, 2026-08-13). The engagement was conducted under International Standard on Assurance Engagements 3000 (Revised).
Corporate Context
According to MarginX data, Nu Holdings is scheduled to report Q3 2026 results on November 12, 2026. Recent insider activity includes awards to executives Thuan Pham and Rogerio Paulo Calderon Peres of 23,483 shares each, and Luis Alberto Moreno Mejia receiving 25,290 shares.
The filing was signed by Guilherme Souto, Investor Relations Officer, on August 13, 2026 (6-K filing, 2026-08-13).
This article was generated by MarginX from the 6-K filing on 2026-08-13. It is not investment advice.