Added to YB: 2026-05-26
Pitch date: 2026-05-24
DLO [neutral]
DLocal Limited
Author Info
No bio for this author
Company Info
DLocal Limited, together with its subsidiaries, provides payment processing services worldwide. The company offers a robust pay-in solution to help global merchants expand their online presence and receive payments, including international and local cards, online bank transfers, direct debit, cash, and hundreds of alternative payment methods (APMs).
Market Cap
$3.5B
Pitch Price
N/A
Price Target
N/A
Dividend
1.61%
EV/EBITDA
11.73
P/E
18.84
EV/Sales
2.26
Sector
Financial Services
Category
growth
dLocal ($DLO) – Q1 2026 Review
DLO (earnings): Q1 TPV $14.1B (+73% YoY), rev $335.9M (+55% YoY). Gross profit $118.7M (+40% YoY), 35% margin vs 39% prior year. Net income $41.9M (-10% YoY) on $9.7M exceptional tax adjustment; normalized $51.6M (+11% YoY). NRR 152%. Take rate fell to 0.84% from 1.05% on large merchant mix. FY26 guide reiterated: TPV +50-60%, gross profit +22.5-27.5%, op income +27.5-32.5%. OPEX +58% YoY but mgmt expects H2 margin expansion. Trades 14-16x forward P/E vs 55% rev growth. Key risks: take rate compression, EM volatility, FCF pressure ($14.7M vs $39.7M Q1'25).
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