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Analyst
Mario Pierry
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters; questions recorded in 6).
- Questions
- 7on tracked calls
- Challenge rate
- 57%4 of 7 questionsLimited sample
- Companies
- 1questioned 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. 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 · 6 reporting periods · 4 of 7 challenging
Calendar 2026 Q2
So I'm trying to understand where is the surprise coming from, from what you guys were expecting?
Show response
Rob attributed ~1/3 of the beat to Desenrola and 2/3 to solid credit performance plus faster ramp of Q1 growth into yielding balances.
all the seasonality that we're seeing is coming primarily from your unsecured personal loans?
Show response
Rob explained the by-income slide is a rolling average that smooths seasonality, and the upward 90-plus trend reflects portfolio mix shift rather than one product deteriorating.
Calendar 2025 Q4
I wanted to understand a little bit better what happened with provisions in the quarter.
Show response
Lago said the CLA increase was entirely growth-driven, book growth plus higher unused credit limits, not asset-quality deterioration, and consolidated NPL differences reflect country write-off policies.
Calendar 2025 Q3
So I was wondering what is your view on that? And how much that could impact your results in Mexico.
Show response
Lago said interchange is a smaller portion of Mexico revenue and voiced concern the proposed cap could inhibit financial inclusion, but declined to quantify the fee share.
Calendar 2025 Q2
Can you discuss a little bit about your strategy in the private payroll product?
Show response
Lago said Nu is excited about private payroll but is holding back on collateral-quality concerns and elevated early industry defaults, aiming to win later as the lowest-cost manufacturer; direct.
Calendar 2025 Q1
help me understand why you think margins then can continue to go up in Brazil.
Show response
Pierry challenged the Brazil NIM-expansion thesis given secured-loan mix and longer funding duration; Lago pointed to balance-sheet re-leveraging (rising LDRs) as the driver rather than cheaper funding.
Calendar 2024 Q4
it feels like maybe a little bit too early that maybe you should be bigger in your existing countries
Show response
David said Act 1 (Brazil, Mexico, Colombia) retains over 90% of focus; global expansion is a multiyear call-option effort with no big-bang market entries or meaningful new expense.
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 | 57%4 of 7 questions |
- NUNu Holdings Ltd. · 7 questions57%4 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 | 100%1 of 1 question | 1 |
| 2025 Q1 | 1 | 100%1 of 1 question | 1 |
| 2025 Q2 | 1 | 100%1 of 1 question | 1 |
| 2025 Q3 | 1 | 0%none of 1 question | 1 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | No questions recorded | — | — |
| 2026 Q2 | 2 | 50%1 of 2 questions | 1 |
- 2024 Q41 question · challenge rate 100% (1 of 1 question) · 1 company
- 2025 Q11 question · challenge rate 100% (1 of 1 question) · 1 company
- 2025 Q21 question · challenge rate 100% (1 of 1 question) · 1 company
- 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 Q1No questions recorded
- 2026 Q22 questions · challenge rate 50% (1 of 2 questions) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Credit4
- Margin2
- Regulation Policy1
- Pricing1
- Product Launch1
- Geographic Expansion1
- Capex Investment1