Nu Holdings Ltd.

Good afternoon, ladies and gentlemen. Welcome to New Holdings Conference Call to discuss the results for the third 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.new 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. Jörg 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 earnings release, a copy is posted in the Results Center section of our Investor Relations website. With me on today's call are David Vélez, 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 non-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 FX neutral basis. I would also like to remind everyone that today's discussions 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, David Vélez, will discuss the main highlights of our third quarter 2024. Subsequently, Guilherme Lago, our CFO, and Youssef Larach, our president and COO, will take you through our financial operating performance for the quarter, after which time we will be happy to take your questions. Now, I'd like to turn the call over to David. David, please go ahead.

Thank you, George. Good evening, everyone, and thank you again for being with us today. In the last quarter, our business model, anchored in three fundamental principles, customer growth, expanding revenue per customer, and efficient operating costs, has once again demonstrated its strength. We have consistently surpassed expectations in net customers addition, achieving 110 million customers by the end of the quarter, reflecting a 56% increase from the 70 million recorded just two years ago. Strong customer additions in Brazil continue to fuel our growth, with an average of 1.1 million new customers each month and bringing the total to 98.8 million at quadrant. As we announced over the past days, we already crossed the mark of 100 million customers in Brazil. Mexico also experienced strong growth with 1.2 million net ads in the quarter, resulting in a total of 8.9 million customers. This success reinforces our strategy of increasing deposit yields in the country, further enhancing our momentum and solidifying NU as the leading digital financial platform in Mexico. Moreover, Colombia has reached a significant milestone of 2 million customers and sustaining the positive momentum from the launch of the Cuenta product. Now, let's review some key financial highlights. Despite the depreciation of Latin currencies against the U.S. dollar during the quarter, over-revenue surged to $2.9 billion, driven by our successful cross-sell and up-sell efforts, along with our introduction of new products. This solid performance reflects a 56% year-over-year increase. Our gross profit stands now at $1.3 billion, marking a 67% Net income also saw robust growth, reaching $553 million, leading to an annualized return on equity of 30%. Additionally, our adjusted net income hit $592 million, expanding 10% sequentially and 89% year-over-year on an FX-neutral basis. These achievements underscore the power of our business model, which combines robust top-line growth with solid profitability. In this slide, we demonstrate how our flywheel effectively drives customer engagement, as evidenced by strong cohort performance on revenues. This consistent compound growth across all cohorts underpins our ability to cross-sell and up-sell to our customers. Increased product adoption boosted by primary banking relationships, which we will further discuss in this presentation, drives increasing RPACs as cohorts mature over time. This trend is evident across all cohorts in this chart, including the more mature ones, which continue to display robust revenue CAGR. Not only revenue CAGR for all cohorts acquired this decade is in the triple digits. Now turning to profitability. We have been presenting this table for several quarters now. In addition to the robust growth observed quarter after quarter, it is important to highlight that in the third quarter, for the first time, New Holdings Return on Equity surpassed 30%, demonstrating the success of our strategy. This achievement was accomplished while still maintaining a robust level of excess capital of $2.4 billion at the holding level, with two subsidiaries in Mexico and Colombia yet to reach profitability. As we make progress in our three GEOs and execute against this strategy, we continue to be extremely excited with the huge opportunity we have ahead around expanding our platform, increasing market sharing of our core products, and better monetizing our existing customer base. In addition, as we had stated earlier in the year, the growth into new verticals as part of our money platform strategy is starting to become a reality and broaden our total addressable market. Recent examples in this strategic path are the launches of new cell or devoting telecom services, as well as the developments of new marketplace, new travel, and new pay. And we're just getting started. With that, I'd like to pass the floor to our CFO, Guillermo Lago, who will go into more details on our financial results. Over to you, Lago.