Business
DLocal Limited Reports Third Quarter 2021 Financial Results
US$1.8 billion Total Payment Volume, up 217% year-over-yearRevenues of US$68.6 million, up 123% year-over-year38% Adj EBITDA Margin, up 228 bps year-over-year
About this update from Dlocal Limited
[{"type":"text","content":"US$1.8 billion Total Payment Volume, up 217% year-over-yearRevenues of US$68.6 million, up 123% year-over-year38% Adj EBITDA Margin, up 228 bps year-over-year dLocal reports in US dollars and in accordance with IFRS as issued by the IASB MONTEVIDEO, Uruguay, Nov. 16, 2021 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”, “we”, “us”, and “our”) (NASDAQ:DLO), a technology-first payments platform today announced its financial results for the third quarter ended September 30, 2021. “We continue to see strong growth across multiple verticals as we see local economies continue to bounce back and global merchants prioritize their efforts in emerging markets. We continue to execute on our strategy to make the complex simple for our merchants. We continue to add new product capabilities on our platform that enhance our merchants’ ability to benefit from higher conversion. We continue to add new countries to our infrastructure network while continuing to add more payment methods and partners in markets in Latin America, Asia and Africa,” said Sebastian Kanovich. Third Quarter 2021 Financial Highlights Total Payment Volume (“TPV”) reached US$1.8 billion in the quarter, representing 217% year-over-year growth compared to US$572 million in the third quarter of 2020 and 24% growth compared to US$1.5 million in the second quarter of 2021.Revenues in the third quarter of 2021 amounted to US$68.6 million, representing 123% year-over-year growth compared to US$30.9 million in the third quarter of 2020 and 16% growth compared to $59.0 million in the second quarter of 2021.Adjusted EBITDA was US$26.3 million in the third quarter of 2021 compared to US$12.5 million in the third quarter of 2020 and US$25.9 million in the second quarter of 2021.Adjusted EBITDA Margin was 38% in the third quarter of 2021 compared to 41% in the third quarter of 2020 and 44% in the second quarter of 2021.Profit for the third quarter of 2021 was US$19.7 million, or US$0.06 per diluted share, compared with profit of US$8.6 million, or US$0.03 per diluted share, for the third quarter of 2020 and with profit of US$17.7 million, or US$0.06 per diluted share, for the second quarter of 2021.Profit for the third quarter of 2021 includes one-off expenses of US$0.9 million mainly related to secondary offering expenses.As of September 30, 2021, dLocal had US$293.1 million in cash, cash...