Nu Holdings Ltd. (NU) gained in the pre-market after announcing its fourth quarter and fiscal 2021 results. NU values at $9.54, gaining more than 8.41% compared to yesterday’s closing price. The stock closed at $8.8 at the end of the last trading session. The stock volume traded in the last trading session was around 11.50 million shares. The current market cap of the company is around $45.67 billion.
NU: Key Financials
- Nu Holdings Ltd.’s revenue in Q4 2021 was $635.9 million. It is a gain of more than 221% compared to the revenue of $196.1 million in Q4 2020.
- Fiscal year revenue was $1.7 billion. It is an increase of 130% YoY. The company achieved the milestone of achieving the highest revenue in the company’s history. Fiscal 2020 revenue was around $713.3 million.
- The company’s net loss in Q4 2021 was around $66.2 million, improving its number by more than 38% YoY. The net loss in Q4 2020 was around $107 million.
- NU’s net loss in fiscal 2021 was around $165.3 million; compared to the net loss of $171.5 million in fiscal 2020, the company improved its net loss.
- For fiscal 2021, the basic and diluted loss per share was $0.1030.
NU significant achievements in fiscal 2021
Nu’s IPO was the world’s biggest dual listing since 2012. It raised about $2.8 billion in gross proceeds after the underwriters partially exercised their option to buy more shares. As of December 10, 2021, Nu’s Class A ordinary shares began trading on the NYSE in the United States and BDRs on the B3 in Brazil after the underwriters’ option to acquire further shares was partially exercised on January 6, 2022.
Nu had 53.9 million subscribers in 2021, including consumers and SMEs.
NU’s CEO Remarks
A great beginning as a public company, says founder and CEO David Vélez, is evident in Nu’s fourth-quarter results. Our NuSócios initiative and stock exchange listings allowed millions of Brazilians to participate in the capital markets. We are currently boosting efforts to build up Nu’s dynamic ecosystem, strengthen our digital banking platform, and expand into other geographic regions to increase financial access for many people.
Conclusion
The company was recently listed on two stock markets, making it the first company to dually list. The company revenue has significantly increased and expects to grow at the same pace to prove value to its shareholders.
