Nu Holdings Ltd released its Q1 earnings report, revealing a remarkable 64% revenue surge. CEO David Velez expressed confidence in the company's growth potential, citing the vast untapped market in the fintech sector. In an interview with CNBC, Velez highlighted that disruptors have barely scratched the surface, holding less than 1% of the market cap, presenting a significant global opportunity.

The online bank achieved a significant milestone, reaching 100 million customers after adding 5.5 million new users in Q1. Velez attributed this growth to delivering high-quality products at lower costs. Notably, Nu Holdings boasts an impressive 80% cost structure advantage over average US banks, positioning it favorably for future competition in the US market.

The company's financial performance was marked by a significant improvement in its loan-to-deposit ratio, reaching 40% with $24.3 billion in total deposits. Additionally, Nu Holdings reported a substantial increase in its gross profit margin, rising by 300 basis points to 43.2% in Q1. Wall Street analysts have given the company's stock an "overweight" rating, reflecting its promising prospects.

With its cost structure advantage and strong customer growth, Nu Holdings is well-positioned to make a significant impact in the US market. As Velez emphasized, this advantage will be crucial in competing with traditional banks and driving future growth. The company's focus on delivering high-quality products at lower costs has resonated with customers, driving its impressive customer growth. As Nu Holdings continues to expand its presence in the US market, its cost structure advantage is likely to be a key factor in its success.