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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.Nu’s operating expenses show a shift from steady scale to deliberate, front‑loaded investment: G&A and “other” include a managerial P&L restatement spike, while marketing and customer‑support costs have meaningfully ramped since 2024 as the company fuels AI, product launches and international buildout. Management says these are intentional and will press efficiency in the near term (an expected ~80–100bp headwind) but are aimed at lifting ARPAC and monetization, supporting faster lending and deposit growth; watch provisioning and seasonal delinquencies as short‑term risks.
Date | General and Administrative | Marketing | Other | Customer Support and Operations |
|---|---|---|---|---|
Jun 30, 2026 | $599.80M | $103.40M | $176.00M | $226.20M |
Mar 31, 2026 | $492.00M | $62.90M | $149.80M | $204.90M |
Dec 31, 2025 | $440.12M | $121.04M | $140.00M | $164.00M |
Sep 30, 2025 | $349.26M | $70.34M | $102.63M | $174.84M |
Jun 30, 2025 | $341.25M | $67.35M | $97.56M | $161.43M |
Mar 31, 2025 | $289.82M | $44.10M | $37.85M | $151.47M |
Dec 31, 2024 | $318.77M | $52.00M | $69.19M | $155.92M |
Sep 30, 2024 | $284.71M | $99.82M | $105.12M | $135.20M |
Jun 30, 2024 | $326.60M | $47.80M | $96.70M | $162.90M |
Mar 31, 2024 | $326.10M | $46.80M | $79.50M | $150.60M |