DLocal Limited (DLO) Earnings Call Transcripts

DLocal Limited's Latest Earnings Call - Q1 FY2026

In Q1 2026, DLocal Limited reported a significant increase in total payment volume (TPV) of $14.1 billion, reflecting a 73% year-over-year growth. Gross profit reached a record $119 million, up 40% year-over-year, although net income was impacted by a one-time tax adjustment. Management maintained their full-year guidance, indicating confidence in continued growth despite higher operating expenses from prior investments. The company highlighted broad-based growth across various markets and verticals, signaling strong momentum moving forward.

Reported metrics

Guidance from management

Management maintained full-year guidance, citing strong topline momentum and expected improvements in operating leverage as the year progresses.

What management said

Hi, everybody. Ahead of taking your questions, we decided to do something slightly unusual for today — a short discussion alongside Pedro and Guillermo, walking through the main topics from the quarter that we believe investors will find most relevant. Guillermo, we'll begin with you, and we'll begin with the numbers. Gross profit landed really solidly in this quarter, actually exceeding what we ourselves had project...

If we keep the focus on the financial results for a moment and dig further into what's driving the bottom line, particularly operating expenses: we said before, and discussed at length back in the fourth quarter, what we expected for the OpEx path this year, and we signaled that operating leverage would show up far more strongly in the year's second half compared with the first half. Given what you've observed up to ...

What analysts pressed on

Analysts expressed concerns regarding the higher-than-expected operating expenses and the impact of the one-time tax adjustment on net income. There were questions about how these factors would affect future profitability and cash flow.

Main topics on the call

• Record TPV Growth — DLocal achieved a TPV of $14.1 billion, marking a 73% increase year-over-year. Management noted, "this growth isn't concentrated in just one place. It's broad-based and runs across different countries, verticals, merchan...
• Strong Gross Profit Performance — Gross profit reached a new record of $119 million, up 40% year-over-year. The CFO stated, "the standout definitely was Argentina," highlighting recovery in that market as a key driver.
• Operating Expenses and One-Time Tax Adjustment — Operating expenses were $62 million, up 58% year-over-year, influenced by a one-time tax adjustment of $9.7 million. The CFO explained, "this out-of-period adjustment was not material to any previously reported annual or...
• Continued Investment Cycle — Management indicated that the investment cycle from 2025 is impacting the first half of 2026, with expectations for operating leverage to improve in the second half. "We expect that to moderate as the year progresses," s...

Read the full DLocal Limited transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 22 DLocal Limited earnings call transcripts on record, spanning August 18, 2021 to November 12, 2026. Based on this history, DLocal Limited reports quarterly. The most recent call on file is dated November 12, 2026. The full list is below — each row opens the transcript.

Ticker

DLO

Exchange

NASDAQ

Country

US

Sector

Financials

Industry

Financial Services

Calls on record

22

First call

August 18, 2021

Most recent

November 12, 2026

Reporting cadence

quarterly