DLocal Limited Class A Common Shares Q3 2025 Earnings Recap

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.