Business
dLocal Reports 2023 Fourth Quarter and Full year Financial Results
Full Year 2023 resultsUS$17.7 billion Total Payment Volume, up 67% year-over-yearRevenue of US$650 million, up 55% year-over-year150% Net Revenue Retention
About this update from Dlocal Limited
[{"type":"text","content":"Full Year 2023 resultsUS$17.7 billion Total Payment Volume, up 67% year-over-yearRevenue of US$650 million, up 55% year-over-year150% Net Revenue Retention RateGross Profit of US$277 million, up 37% year-over-yearAdjusted EBITDA of US$202 million, up 32% year-over-year Fourth Quarter 2023US$5.1 billion Total Payment Volume, up 55% year-over-year and 11% quarter-over-quarterRevenue of US$188 million, up 59% year-over-year and 15% quarter-over-quarter149% Net Revenue Retention RateGross Profit of US$70 million, up 27% year-over-year and down -6% quarter-over-quarterAdjusted EBITDA of US$49 million, up 22% year-over-year and down -11% quarter-over-quarter dLocal reports in US dollars and in accordance with IFRS as issued by the IASB MONTEVIDEO, Uruguay , March 18, 2024 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”, “we”, “us”, and “our”) (NASDAQ:DLO), a technology - first payments platform today announced its financial results for the fourth quarter ended December 31, 2023. “I am proud to share the extraordinary results we delivered during 2023. Despite facing market tests and macro challenges, our team continued to execute our strategy, investing with discipline, and putting our merchants at the center of everything we do. Our 2023 performance demonstrates the resilience of our value proposition and business model. We are now serving 5 of the 6 largest tech companies in the world as measured by market cap. Yet we have only begun to tap into the immense opportunity ahead of us. We remain committed to realizing our long-term ambition: unlocking the potential of emerging markets. During 2023 we achieved a record TPV of US$18 billion, increasing by 67% YoY, and we over-delivered on our revenue guidance, reaching US$650 million, up 55% YoY. This strong growth has been fueled by our existing merchants as we continue to gain wallet share. The trust our merchants place in our solution is also evidenced in our stellar NRR of 150%. We remain focused on driving gross profit dollars growth. Gross profit grew 37% YoY to US$277 million. Adjusted EBITDA surpassed US$200 million in line with our guidance. Our profitability continues to be among the best in our comparable set. Our ratio of Adjusted EBITDA to Gross Profit came in at 73% for 2023. We experienced sound growth across our diverse verticals. In 2023, our platform solution gained traction...