Nu Companies See Strong Q2
Nu Holdings, Nuwellis, NUGL, and NuCana Announce Strong Q2 Financial and Clinical Progress
Key Points
Nu Holdings' independent assurance report on the Managerial P&L explicitly covers the process for compiling the supplementary consolidated financial information, including the definitions of the managerial P&L lines, the reconciliation bridge from IFRS to the Managerial P&L, and the underlying methodology and presentation notes for the June 2026 period.
Nuwellis posted a substantial gross-margin improvement in Q2 2026 to 76% (from 56% in the prior-year quarter), driven by pricing, product mix and a transition to contract manufacturing, with U.S. revenue up 17% and six-month U.S. revenue up 24%.
NUGL highlights Kaya brand momentum across multiple verticals—cannabis retail, cultivation and processing, hospitality, food & beverage, and experiences—with Q2 2026 revenue up 45.3% year over year and six-month revenue up about 30.5%, along with a shift into positive operating income and net income.
NuCana reports completion of Phase 2 NuTide:701 recruitment for NUC-7738 in combination with Keytruda in PD-1 inhibitor-resistant metastatic melanoma, notes FDA IND clearance earlier in the year, and maintains a cash runway into 2029 to advance its oncology program.
Nubank posted its first-ever billion-dollar quarterly profit in Q2 2026, with net income hitting $1.06 billion — a 49% jump from a year ago. Head Topics reported that shares surged 9% in extended trading after the Brazilian digital bank also blew past revenue estimates, booking $5.88 billion against analyst expectations of $5.39 billion.
The milestone cements Nubank as one of the most profitable digital banks in the world. Pulse2 noted net income reached $1.1 billion on some measures, growing 17% quarter over quarter. The results came alongside an independent assurance report covering the company's managerial profit-and-loss process for the June 2026 period.
Nubank Beats Estimates With Record $5.88B Revenue
Watchlist News reported that Nu Holdings beat earnings-per-share estimates by $0.02, with Q2 2026 managerial revenue of $5.88 billion. That figure topped the $5.39 billion Wall Street had forecast — a beat of roughly $490 million. The strong top-line result came alongside the record net income figure.
TradingView highlighted a 33% return on equity alongside the first-ever $1 billion net income quarter. The bank also credited AI-driven tools and rapid customer expansion as key growth engines. Nubank now serves tens of millions of customers across Latin America, making it one of the world's largest digital lenders by customer count.
Kaya Cannabis Brand Powers NUGL's 45% Revenue Surge
NUGL, Inc. reported Q2 2026 revenue of $1.26 million, up 45.3% year over year. Daily Guardian noted the company swung into positive operating income of $135,841 — a significant shift for the small-cap operator of the Kaya cannabis and lifestyle brand in Jamaica.
Kaya spans cannabis retail, cultivation, hospitality, food and beverage, and consumer experiences. Six-month revenue rose about 30.5%, showing the growth is not just a one-quarter spike. The move into profitable operations marks a turning point for the brand as it scales across multiple verticals.
Nuwellis Gross Margin Jumps to 76% on Manufacturing Shift
Medical device maker Nuwellis posted a 76% gross margin in Q2 2026, up sharply from 56% in the same quarter last year. The gain came from better pricing, product mix, and a shift to contract manufacturing. U.S. revenue rose 17% in the quarter and 24% over the first six months of the year.
The company also raised fresh capital to extend its cash runway into 2027. It is working to expand the label for its Aquadex device to cover smaller patients. The combination of margin improvement and a longer runway gives Nuwellis more time to grow its commercial footprint.
NuCana Completes Key Cancer Trial Recruitment, Funded Into 2029
Clinical-stage cancer drug maker NuCana finished recruiting patients for its Phase 2 trial of NUC-7738, known as NuTide:701. The drug is being tested alongside Keytruda in patients with metastatic melanoma that stopped responding to PD-1 inhibitor therapy. The U.S. Food and Drug Administration cleared the trial's investigational new drug application earlier in 2026.
NuCana said its cash runway extends into 2029, giving the company roughly three years of financial flexibility. The company is also in active talks with the FDA about next steps for its broader oncology pipeline. Completing Phase 2 recruitment is a key milestone before results can be read out and next-stage decisions made.
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