Nu Holdings Ltd.

Good afternoon, ladies and gentlemen. Welcome to New Holdings Conference call to discuss the results for the second quarter of 2024. A slide presentation accompanies today's webcast, which is available on New's Investor Relations website, www.investors.new in English and www.investidores.nu in Portuguese. This conference is being recorded and the replay can also be accessed on the company's IR website. This call is also available in Portuguese. To access, you can press the globe icon on the lower right side of your Zoom screen and then choose to enter the Portuguese room. After that, select Mute Original Audio. Para acessar nossa conferência em português, clique no ícone do globo ao lado inferior direito da sua tela Zoom e selecione a opção Portuguese Room. Ao acessar a nova sala, certifique-se de mutar o áudio original. Please be advised that all participants will be in a listen-only mode. You may submit online questions at any time today using the Q&A box on the webcast. I would now like to turn the call over to Mr. Jorg Friedemann, Investor Relations Officer at New Holdings. Mr. Friedemann, you may proceed.

Thank you very much, Operator, and thank you all for joining our earnings call today. If you have not seen our earnest release, a copy is posted in the Results Center section of our Investor Relations website. With me on today's call are Davi Veles, our Founder, Chief Executive Officer and Chairman, Youssef Larache, our President and Chief Operating Officer, Guilherme Lago, our Chief Financial Officer, and Jack Dougal, our Chief Product Officer. Throughout this conference call, we will be presenting non-IFRS financial information, including adjusted net income. These are important financial measures for new holdings, but are not financial measures as defined by IFRS and may not be comparable to similar measures from other companies. Reconciliations of our known IFRS financial information to the IFRS financial information are available in our earnings press release. Unless noted otherwise, all growth rates are on a year-over-year effects neutral basis. I would also like to remind everyone that today's discussion might include forward-looking statements, which are not guarantees of future performance, and therefore you should not put undue reliance on them. These statements are subject to numerous risks and uncertainties, and could cause actual results to differ materially from our expectations. Please refer to the forward-looking statements disclosure in our earnings release. Today, our founder, chairman and CEO, Davi Velas, will discuss the main highlights of our second quarter, 2024. Subsequently, Guilherme Lago, our CFO, and Youssef Larach, our president and COO, will take you through our financial and operating performance for the quarter, after which time we will be happy to take your questions. Now, I would like to turn the call over to Davi. Davi, please go ahead.

Thank you, Jorg. Good evening, everyone, and thank you again for being with us today. During Q2 2024, our business model, anchored in three fundamental principles, customer expansion, revenue per customer, and efficient operating costs, demonstrated its formidable strength by accelerating earnings power. Our net customer additions have consistently exceeded expectations, reaching 105 million customers by the end of the quarter, a 60% increase from the 65 million recorded just two years ago. Customer growth in Brazil remains outstanding, with an average of 1.2 million new customers monthly, bringing the total to 95.5 million at the end of the quarter. Meanwhile, Mexico also experienced strong growth with 1.2 million net ads in the quarter, culminating in 7.8 million customers. This success validates our strategy of increasing deposit yields in Mexico, boosting our momentum and solidifying NU as the leading digital financial platform in Mexico. Additionally, Colombia surpassed the 1 million customer mark, ending the quarter with almost 1.3 million customers following the successful launch of the Cuenta product. Now let's go to some financial highlights. Despite Latin currencies depreciating against the US dollar during the quarter, our revenue surged to $2.8 billion as we continued to successfully cross-sell and up-sell while introducing relevant new products, reflecting a 65% year-over-year increase. Our gross profit climbed to $1.4 billion, marking an 88% year-over-year growth with a gross margin of 47.7%. Net income also saw significant growth, reaching $487 million, resulting in a record annualized return of equity of 28%, one of the highest in the industry. Additionally, our adjusted net income hit $563 million, with a sequential expansion of 36% quarter over quarter and 131% year over year. These achievements underscore the strength of our business model, which combines robust top line growth with solid profitability. In this slide, we again demonstrate how our flywheel effectively drives customer acquisition and data growth while sustaining strong momentum in our key financial metrics. Our model's inner and operational strengths are driving significant profitability. In the second quarter, new holdings achieved an adjusted net income of $563 million, with an adjusted analyzed return on equity of 33%, despite maintaining a robust level of excess capital of $2.4 billion at the holding level, and with two subsidiaries in Mexico and Colombia yet to be profitable. Now, I'd like to pass the floor to our CFO, Guillermo Lago, who will guide you through our financial numbers. Over to you, Lago.