Business
dLocal Limited Reports 2022 First Quarter Financial Results
First Quarter 2022US$2.1 billion Total Payment Volume, up 127% year-over-yearRevenues of US$87.5 million, up 117% year-over-year190% Net Revenue Retention
About this update from Dlocal Limited
[{"type":"text","content":"First Quarter 2022US$2.1 billion Total Payment Volume, up 127% year-over-yearRevenues of US$87.5 million, up 117% year-over-year190% Net Revenue Retention Rate38% Adjusted EBITDA Margin dLocal reports in US dollars and in accordance with IFRS as issued by the IASB MONTEVIDEO, Uruguay, May 17, 2022 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”, “we”, “us”, and “our”) (NASDAQ:DLO), a technology- first payments platform, announced its financial results today for the first quarter ended March 31, 2022. “We are pleased to share that we are off to a strong start to the year, delivering record Q1 results, with TPV surpassing US$2 billion and increasing 127% year-over-year. For the fifth consecutive quarter we grew our revenue triple digits, increasing it by 117% year-over-year to US$87 million, and we continue to deliver positive Adjusted EBITDA, increasing it by 84% year-over-year to US$33 million. Our performance this quarter reinforces our strong growth momentum, and we expect to continue delivering growth supported by the performance of our existing and new merchants using our platform. While Q1 2022 has been marked by a challenging global macro environment due to specific factors such as higher interest rates, higher inflation in some developed markets, challenges in logistics in specific geographies, the Russia - Ukraine conflict, our business has shown resilience and continues to benefit from the diversity of our merchants across industry verticals, geographies, products, and consumer behavior patterns. Our business has no exposure to Russia or Ukraine. We continue to expand our footprint in emerging markets, launching operations in two new countries, Ivory Coast and Rwanda, bringing the total number of countries in which we make our services available to 37. We continue to make disciplined investments in our infrastructure and people to support our expansion strategy while maintaining an Adjusted EBITDA margin of 38%. Our total number of employees increased to 562 by the end of March 2022, a 54% year-over-year increase,” said Sebastian Kanovich. First Quarter 2022 Financial Highlights Total Payment Volume (“TPV”) reached US$2.1 billion in the quarter, representing 127% year-over-year growth compared to US$926 million in the first quarter of 2021.Revenues in the first quarter of 2022 amounted to US$87.5 million, representing 117%...