DLocal Q1 Profit Slides 10% to $41.9M on Tax Charge, Revenue Jumps 55%
DLocal reported Q1 net profit of $41.9M, down 10% after a $9.7M tax adjustment and higher expenses, equating to 14 cents per share (17 cents adjusted), on revenue of $335.9M, up 55%. Total payment volume surged 73% to $14.1B across more than 40 emerging markets including Brazil, Mexico and Argentina.
1. Q1 Net Profit Decline
DLocal reported net profit of $41.9M in Q1, down 10% year-over-year after a $9.7M one-off tax adjustment related to installment products and elevated investment cycle costs. Earnings per share were 14 cents, or 17 cents on an adjusted basis excluding pretax items.
2. Revenue Jump and TPV Growth
First-quarter revenue rose 55% year-over-year to $335.9M, topping prior forecasts, driven by a surge in merchant payment volumes. Total payment volume reached $14.1B, a 73% increase, reflecting strong transaction growth across the company’s platform.
3. Emerging Markets and Merchant Base
DLocal operates in over 40 emerging markets, earning most revenue from Latin America—particularly Brazil, Mexico and Argentina—and expanding in Africa and Asia. Key clients include Amazon, Uber and Spotify, underscoring its role in cross-border e-commerce payments.