DLocal Limited Class A Common Shares Q1 2026 Earnings Recap

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.