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Analyst
Geoffrey Elliott
Period: Reporting periods mapped to calendar 2025 Q1 – 2026 Q2 (6 quarters).
- Questions
- 7on tracked calls
- Challenge rate
- 14%1 of 7 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 7 of 7 questions from 2 companies
MELIMercadoLibre5 questions · 5 reporting periods · 1 of 5 challenging
Calendar 2026 Q1
It's unusual for you to give that near-term clarity. What has prompted that? And then what could cause it to change?
Show response
Martin explained margins are function of investment intensity. Revenue growing 49% validates investments. If they wanted to improve margins it would be easy to slow investments, but they don't think that's right.
Calendar 2025 Q4
Can you discuss the changes that you announced to the shipping model in Brazil, I believe, on January 20
Show response
Ariel explained the shift to weight/dimension-based shipping charges but declined to comment on financial impact, noting results will be shared with Q1.
Calendar 2025 Q3
Do you think that your competitors are behaving rationally? Or do you see any signs of irrational competition in the market
Show response
Ariel asserted nothing MELI is doing is irrational, citing record NPS, retention, and conversion. Emphasized focus on users rather than competitors over 26 years of proven strategy.
Calendar 2025 Q2
The credit portfolio is growing quickly as it grows, how do you expect the funding mix behind that to evolve
Show response
Martin explained credit card is transitioning from self-funded to third-party funding, which will add a visible cost line to NIMAL in the future.
Calendar 2025 Q1
Can you discuss the strategy in terms of deposits in Brazil? We've seen the 120% of CDI rate offered over the last few days. What's behind that
Show response
Ariel explained the 120% CDI rate is a marketing tool to drive principality and retention, with limits tied to loyalty program membership and deposit caps.
NUNu Holdings Ltd.2 questions · 2 reporting periods · 0 of 2 challenging
Calendar 2026 Q2
What are your hiring plans? And how is AI allowing you to use the workforce more effectively?
Show response
David attributed the dip to return-to-office attrition that was largely rehired, expecting roughly flat headcount that becomes far more productive with AI.
Calendar 2025 Q2
The last 5 quarters, interest earning installments have been between 27% and 29% of total balances
Show response
Lago said the interest-earning installment mix should stay roughly where it is with modest upside from Pix and transaction financing; direct.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| MELI MercadoLibre | 5 | 20%1 of 5 questions |
| NU Nu Holdings Ltd. | 2 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q1 | 1 | 0%none of 1 question | 1 |
| 2025 Q2 | 2 | 0%none of 2 questions | 2 |
| 2025 Q3 | 1 | 0%none of 1 question | 1 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 1 | 100%1 of 1 question | 1 |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2025 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q31 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q11 question · challenge rate 100% (1 of 1 question) · 1 company
- 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Margin2
- Pricing2
- Competitive Dynamics2
- Credit2
- Labor Market1
- Cloud & AI1
- Guidance Reliability1
- Capital Allocation1
- Subscriber Growth1