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
| Metric | Value |
|---|---|
| TPV | $14.1B (beat) |
| Gross Profit | $119M (beat) |
| Operating Expenses | $62M (negative) |
| Net Income | $42M (inline) |
| Operating Profit | $53M (beat) |
| Effective Tax Rate | 26% (negative) |
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
Hello, everyone. Before we open the floor to questions, we thought we try something a little bit different today. A brief conversation with Pedro and Guillermo here covering the key themes we had in the quarter that we think will be most interesting to investors.
Guillermo, let's start with you, and let's start with the results. Gross profit came in quite strong this quarter, even above our own expectations. And this is typically a seasonally softer quarter for the business after the fourth quarter. What drove this performance?
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.
About DLocal Limited
DLocal Limited (DLO) is a publicly listed company in the Financial Services industry, within the Financials sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 24 calls on record spanning August 18, 2021 to May 18, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 24 DLocal Limited earnings call transcripts on record, spanning August 18, 2021 to May 18, 2026. Based on this history, DLocal Limited reports quarterly. The most recent call on file is dated May 18, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- DLO
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Financials
- Industry
- Financial Services
- Calls on record
- 24
- First call
- August 18, 2021
- Most recent
- May 18, 2026
- Reporting cadence
- quarterly