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Analyst
Jorge Kuri
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters).
- Questions
- 7on tracked calls
- Challenge rate
- 14%1 of 7 questionsLimited sample
- Companies
- 1questioned at least once
- Reporting periods
- 7with 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. See how we grade analysts on earnings-call questions.
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 1 company
NUNu Holdings Ltd.7 questions · 7 reporting periods · 1 of 7 challenging
Calendar 2026 Q2
to what extent is the AI models and get more comfort on that being a floor from here?
Show response
Rob confirmed AI models outperform logistic regression but pushed back on calling 12% a floor, framing it as a ballpark from intentional risk expansions.
Calendar 2026 Q1
What is the edge, the moat that you guys are using in SMEs?
Show response
David detailed the 5M+ SME base built at ~0 CAC, new secured/unsecured credit lines using government-guarantee programs, and an ambitious plan; no size target given.
Calendar 2025 Q4
can you help us dimension the impact that your clip increases are having on your credit card growth?
Show response
Lago quantified the AI-driven limit expansion (unused limits up ~60% to $29 billion) and described the three-step path from limits to purchase volume to interest-earning balances.
Calendar 2025 Q3
I'm just wondering if you can walk us through these dynamics and exactly what explains that NIM contraction
Show response
Lago explained the mix shift to lower-yield secured lending plus higher Brazil funding costs, and pointed to risk-adjusted NIM expanding to 9.9%.
Calendar 2025 Q2
You have 1% FX neutral growth, which is a very different number from what we've seen over the last year
Show response
Lago attributed the soft sequential origination to Q1 seasonality and first-time policy effects and guided continued strong unsecured growth; direct and detailed.
Calendar 2025 Q1
So can you help us understand what's behind the resilience of that Brazil NIM?
Show response
Lago tied NIM resilience to balance-sheet re-leveraging (higher LDRs) offsetting SELIC and PIX-mix headwinds, and expects NIMs to rise over the medium term.
Calendar 2024 Q4
Can you just clarify what not expanding PIX in the short-term means?
Show response
Lago clarified PIX financing will keep growing in absolute terms, in line with overall credit-card growth, but not as a share of the portfolio in the short term.
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 |
|---|---|---|
| NU Nu Holdings Ltd. | 7 | 14%1 of 7 questions |
- NUNu Holdings Ltd. · 7 questions14%1 of 7 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 |
|---|---|---|---|
| 2024 Q4 | 1 | 0%none of 1 question | 1 |
| 2025 Q1 | 1 | 0%none of 1 question | 1 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | 1 | 100%1 of 1 question | 1 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 1 | 0%none of 1 question | 1 |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2024 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q31 question · challenge rate 100% (1 of 1 question) · 1 company
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q11 question · challenge rate 0% (none 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.
- Credit5
- Margin3
- Demand2
- Cloud & AI1
- Product Launch1
- Competitive Dynamics1
- Revenue Growth1