The earnings call reflected strong financial performance and growth across key markets, with record-breaking metrics and strategic expansions driving a positive outlook. However, the impact of currency devaluation and potential external regulatory risks presented some challenges.

Company Guidance

In the recent earnings call for the second quarter of fiscal year 2025, dLocal Limited announced a record high total payment volume (TPV) of $9.2 billion, marking their third consecutive quarter of over 50% year-over-year growth. Revenue and gross profit also reached new peaks of $256 million and $99 million, respectively. The company reported a net income of $43 million, which was impacted by the devaluation of the Argentine peso, but noted that without this effect, net income would have been $53 million. Free cash flow for the quarter was strong at $48 million. The company's geographic diversification improved, with the top three markets now accounting for less than 50% of revenues. Additionally, adjusted EBITDA grew by 64% year-over-year to $70 million, highlighting a frugal operational culture and efficiency. The company is optimistic about H2 2025, expecting to reach the upper limit of its guidance for TPV and revenue, while forecasting gross profit and adjusted EBITDA to exceed expectations. The guidance comes with caution due to potential global economic and regulatory risks.

Record-Breaking TPV and Revenue Growth

Total Payment Volume (TPV) reached a record high of $9.2 billion, marking a 53% year-over-year increase and a 14% quarter-over-quarter increase. Revenue also hit an all-time high of $256 million, growing 50% year-over-year.

Strong Performance in Core Markets

Brazil and Mexico rebounded with strong performance, contributing to revenue growth alongside other fast-growing geographies.

New Licenses and Product Innovation

dLocal added new licenses in the UAE, Turkey, and the Philippines, and launched innovative products like SmartPix in Brazil and Buy Now Pay Later integrations.

Increased Guidance

The company expects to end the year at the upper limit of previous guidance for TPV and revenue, and exceed the upper limit for gross profit and adjusted EBITDA.

Operational Efficiency

Achieved a record gross profit of $99 million, with an adjusted EBITDA of $70 million, marking a 64% year-over-year increase. The adjusted EBITDA to gross profit ratio improved for the fifth consecutive quarter to 71%.

DLocal (DLO) Earnings, Revenues Date & History

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DLO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 18, 2025	2025 (Q3)	0.17 / -	0.09	―	―	―
Aug 13, 2025	2025 (Q2)	0.13 / 0.17	0.15	14.67% (+0.02)
May 14, 2025	2025 (Q1)	0.12 / 0.17	0.06	191.67% (+0.11)
Feb 27, 2025	2024 (Q4)	0.15 / 0.10	0.1	0.00% (0.00)
Nov 13, 2024	2024 (Q3)	0.11 / 0.09	0.13	-30.77% (-0.04)
Aug 14, 2024	2024 (Q2)	0.09 / 0.15	0.15	0.00% (0.00)
May 14, 2024	2024 (Q1)	0.12 / 0.06	0.11	-45.45% (-0.05)
Mar 18, 2024	2023 (Q4)	0.15 / 0.10	0.06	66.67% (+0.04)
Nov 21, 2023	2023 (Q3)	0.15 / 0.13	0.1	30.00% (+0.03)
Aug 15, 2023	2023 (Q2)	0.13 / 0.15	0.1	50.00% (+0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DLO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 13, 2025	$11.69	$15.35	+31.31%
May 14, 2025	$9.71	$10.72	+10.40%
Feb 27, 2025	$13.11	$9.11	-30.51%
Nov 13, 2024	$8.62	$9.72	+12.76%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.