Business
dLocal Limited Reports 2022 Third Quarter Financial Results
Third Quarter 2022 US$2.7 billion Total Payment Volume, up 51% year-over-year Revenues of US$112 million, up 63% year-over-year 152% Net Revenue Retention
About this update from Dlocal Limited
[{"type":"text","content":"Third Quarter 2022 US$2.7 billion Total Payment Volume, up 51% year-over-year Revenues of US$112 million, up 63% year-over-year 152% Net Revenue Retention Rate 37% Adjusted EBITDA Margin dLocal reports in US dollars and in accordance with IFRS as issued by the IASB MONTEVIDEO, Uruguay, Nov. 14, 2022 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”, “we”, “us”, and “our”) (NASDAQ:DLO), a technology- first payments platform, announced its financial results today for the third quarter ended September 30, 2022. “We delivered another quarter of record results, reaching U$2.7 billion in TPV and US$112 million in revenues. We saw robust growth in TPV increasing by 51% and revenues further accelerating 63% year-over-year, despite the high comparison base from last year, and both metrics increasing by 12% and 11%, respectively, quarter-over-quarter. The growth has been supported by our disciplined execution and lean culture, in addition to our business strength of continuous diversification across verticals, regions, and products. Throughout recent quarters, we have been committed to growing outside Latin America, and we are very pleased to announce the impressive results we reached in Q3 2022. Revenues from Africa and Asia increased by four times year-over-year and 80% quarter-over-quarter, reaching US$25 million. These strong results over just a three-month period surpassed the US$21 million recorded in the entire twelve months of 2021. In Q3 2022, Africa and Asia revenues already contributed to 22% of our total revenues, which is a proven record that our strategic decision making is paying off. We continue to deliver on our strategy of maximizing gross profit and EBITDA dollars. During the third quarter, gross profit increased to US$54 million, up by 56% year-over-year, whereas Adjusted EBITDA was up by 58% year-over-year to US$42 million. Both metrics increased by 9% quarter-over-quarter. This was reflected in a solid adjusted EBITDA margin of 37%, in line with the 38% recorded in the past four quarters, while we continue to invest in our business with discipline by increasing our headcount 34% year-over-year to 712 employees. We continue to drive our expansion across emerging markets, launching operations in two new countries, Nicaragua and Saudi Arabia, bringing the total number of countries in which we operate to 39, as we balance the...