Q1 2026 Dlocal Ltd Earnings Call Transcript
Key Points
- DLocal Ltd (DLO) achieved a significant milestone with TPV reaching $14.1 billion in Q1, marking a 73% year-on-year increase.
- The company has expanded its operations to over 60 countries, including new markets such as Algeria, Qatar, Kuwait, and Oman.
- DLocal Ltd (DLO) has maintained a strong revenue retention rate exceeding 140% for four consecutive quarters.
- The company has demonstrated strong growth across multiple verticals, with travel and on-demand delivery showing significant quarter-on-quarter growth.
- DLocal Ltd (DLO) has a robust licensing portfolio with 38 licenses and authorizations across 26 markets, supporting its global expansion strategy.
- Operating expenses increased by 58% year-on-year, reflecting higher costs from the 2025 investment cycle.
- The company faced a nonrecurring prior year tax adjustment of $9.7 million, impacting the bottom line.
- E-commerce and remittances verticals delivered soft results sequentially, consistent with expected seasonality.
- Brazil experienced a sequential decline in gross profit due to seasonality and a shift towards lower monetization payment methods like Pix.
- The asset transaction in Africa faced legal and regulatory hurdles, resulting in a delay and a less significant impact on current results.
Welcome to dLocal first quarter 2026 earnings conference call. (Operator Instructions) I will now hand the call over to the company.
Good afternoon, and thank you all for joining our Earnings Call today. If you have not seen the earnings release, as always, a copy is posted in the financial section of the Investor Relations website.
On the call today, you have Pedro Arnt, Chief Executive Officer; Guillermo López Pérez, Chief Financial Officer; Christopher Stromeyer, SVP of Corporate Development; and Mirele de 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 presentation may be accessed through dLocal's website at investor.dlocal.com. The recordings will be available shortly after the event is concluded.
Before proceeding, let me mention that any forward-looking statements included in the presentation or mentioned in this conference call are
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