Q3 2024 Dlocal Ltd Earnings Call Transcript
Key Points
- DLocal Ltd (DLO) achieved a record total payment volume (TPV) of $6.5 billion, marking a 41% year-over-year increase.
- The company reported a record gross profit of $78 million, with stable net take rates at 1.2% since Q1 2024.
- DLocal Ltd (DLO) successfully integrated major players like MoneyGram, enhancing its service offerings across Latin America, Africa, and Asia.
- The company launched innovative products such as smart requests and a standalone payment orchestration option, improving transaction performance and expanding service capabilities.
- DLocal Ltd (DLO) continues to expand its license portfolio, obtaining new licenses in Nigeria, Ecuador, and Uganda, which strengthens its competitive advantage in emerging markets.
- The company experienced a loss of share of wallet in Brazil due to regulatory changes affecting a top merchant, impacting credit card payment volumes.
- Adjusted EBITDA was down year-over-year, despite showing operational leverage improvements in recent quarters.
- Net income decreased by 42% quarter-over-quarter and 34% year-over-year, primarily due to lower finance results and higher finance costs.
- The company faces challenges from currency devaluation in key markets like Nigeria, affecting revenue and gross profit.
- Despite strong growth in other regions, Brazil's performance was soft, driven by a loss of share of wallet with a top commerce merchant.
Hello and thank you for standing by. Welcome to Dlocal third-quarter 2024 results conference call. (Operator Instructions)
I would now like to hand the conference over to Dlocal. You may begin.
Good afternoon everyone and thank you for joining the third quarter 2024 earnings call today. If you have not seen the earnings release, a copy is posted in the financial section of the investor relations website. On the call today, you have Pedro Arnt, Chief Executive Officer; Mark Ortiz, Chief Financial Officer; Maria Oldham, SVP of Corporate Development, Strategy and Investor Relations; and Mirele Aragao, Head of Investor relations.
A slide presentation has been provided to accompany the prepared remarks. This event is being broadcast live via webcast and both the webcast and the presentation may be accessed through Dlocal's website at investor.dlocal.com, the recording will be available shortly after the event is concluded.
Before proceeding, let me mention that any forward-looking statements included in the
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