Quarterly ResultMay 14, 2026, 04:08 PM
dLocal Q1 TPV +73% to $14.1B; Record Gross Profit $118.7M
AI Summary
dLocal Ltd announced strong financial results for Q1 2026, with Total Payment Volume (TPV) surpassing $14 billion for the first time, growing 73% year-over-year. The company also reported record gross profit of $118.7 million, a 40% increase. While reported net income was down, excluding a one-off prior-periods tax adjustment, net income increased 11% to $51.6 million. Adjusted Free Cash Flow decreased due to temporary working capital effects, which are expected to normalize, and the company reiterated its unchanged guidance.
Key Highlights
- TPV reached $14.1 billion, up 73% year-over-year, marking six consecutive quarters of 50%+ growth.
- Revenue increased 55% year-over-year to $335.9 million.
- Gross profit hit a record $118.7 million, up 40% year-over-year.
- Net income, excluding prior-periods tax adjustments, was $51.6 million, up 11% year-over-year.
- Operating profit, excluding prior-periods tax adjustments, was $57.2 million, up 25% year-over-year.
- Adjusted Free Cash Flow was $14.7 million, down 63% year-over-year, due to temporary working capital effects.
- Cash and cash equivalents stood at $815.6 million, with corporate cash at $451.8 million.
- Gross profit margin was 35%, down from 39% in Q1 2025.