DLocal Limited Class A Common Shares Earnings Recaps
Q1 2026
May 15, 2026
dLocal’s shares rose 4.0% following the earnings release, reflecting investor approval of sustained TPV growth and strong market positioning, despite some early quarter caution around margin progression.
Key takeaways
- Processed total payment volume (TPV) surpassed $47 billion on a trailing 12-month basis, marking nearly a decade of consistent compounding growth (~90% CAGR).
- Expanded geographic footprint to more than 60 countries with 38 active licenses and 16 additional license applications pending.
- Maintained broad vertical diversification, with all verticals growing year-over-year, including high-growth areas such as remittances and ride-hailing.
- Strong local payment method adoption continues to drive conversion rates, including up to 20 percentage points uplift versus international card processing.
- Deepened merchant relationships with key clients expanding usage across multiple countries and product lines, underpinning long-term, scalable growth.
Q3 2025
Nov 14, 2025
dLocal reported a record Q3 2025 with Total Payment Volume (TPV) exceeding $10 billion and gross profit surpassing $100 million, reflecting robust growth and strategic diversification across emerging markets.
Key takeaways
- TPV grew nearly 60% YoY, marking the fourth consecutive quarter of growth above 50%, driven by strong performance in Brazil and Colombia.
- Gross profit increased by 32% YoY, reaching $103 million, supported by solid volume growth despite challenges in Argentina and Mexico.
- Adjusted EBITDA stood at $72 million, representing a healthy 70% of gross profit, with net income benefiting from lower finance costs linked to reduced exposure to Argentine peso bonds.
- Net Revenue Retention (NRR) surged to 149%, indicating strong customer loyalty and ongoing upsell opportunities within the existing merchant base.
- Continued investment in emerging payment solutions, including Buy Now, Pay Later and crypto corridors, positions dLocal as a leader in simplifying financial infrastructure for merchants across over 40 markets.