Business
dLocal Reports 2023 Second Quarter Financial Results
Second Quarter 2023US$4.4 billion Total Payment Volume, up 80% year-over-year and 22% quarter-over-quarterRevenue of US$161 million, up 59% year-over-year and
About this update from Dlocal Limited
[{"type":"text","content":"Second Quarter 2023US$4.4 billion Total Payment Volume, up 80% year-over-year and 22% quarter-over-quarterRevenue of US$161 million, up 59% year-over-year and 17% quarter-over-quarter148% Net Revenue Retention RateGross Profit of US$71 million, up 43% year-over-year and 14% quarter-over-quarterAdjusted EBITDA of US$52 million, up 36% year-over-year and 14% quarter-over-quarter dLocal reports in US dollars and in accordance with IFRS as issued by the IASB MONTEVIDEO, Uruguay, Aug. 15, 2023 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”, “we”, “us”, and “our”) (NASDAQ:DLO), a technology - first payments platform today announced its financial results for the second quarter ended June 30, 2023.“We delivered another quarter of outstanding results, with double-digit growth across all parameters, compared to last year as well as the previous quarter. Our performance demonstrates the distinctive advantages of our business, from our cutting-edge technology and broad and well-diversified geographic reach to our excellent sales execution and vast market opportunity. We scale focused on long-term profitable growth, and on our unwavering commitment to our customers: building the best payments ecosystem across emerging markets based on our One dLocal model, simplifying complexities for the merchants we serve. Our merchants recognize the value we add to their business, propelling our growth alongside theirs. During the quarter we experienced strong traction with our platform solution, in particular from marketplaces. Local-to-local volume also increased significantly, reflecting the success and robustness of this solution. Geographically, we witnessed strong growth in Brazil. This high growth in a large and competitive geography such as Brazil underscores the quality of our solution as we continue to gain market share. Brazil is our first market back in 2016 and still presents attractive growth opportunities. Africa and Asia also grew strongly, and we are excited to see certain smaller markets growing at triple-digit rates. We are very proud of our half year results and we reaffirm our guidance for the year of revenue between US$620 and US$640 million and Adjusted EBITDA between US$200 and US$220 million. We are clearly trading towards the higher end of that guidance in terms of revenue, but prefer to take a conservative approach given the macro...