Core Insights - dLocal demonstrated strong growth in Q4 2025, with Total Payment Volume (TPV) reaching an all-time high of US$13.1 billion, a 70% increase year-over-year, marking the fifth consecutive quarter of over 50% growth [1][8] - Revenue for the quarter increased by 65% year-over-year, reaching US$338 million, while gross profit rose by 38% to US$116 million [1][8] - The company reported a net income growth of 87% year-over-year, amounting to US$55.6 million for Q4 2025 [2][3] Financial Performance - TPV for the full year 2025 reached a record US$41 billion, up 60% year-over-year, with revenue surpassing US$1 billion for the first time [2] - Adjusted EBITDA for Q4 2025 was US$78.4 million, reflecting a 38% increase year-over-year, with an adjusted EBITDA margin of 23% [3][11] - Gross profit margin for Q4 2025 was 34%, down from 41% in Q4 2024, attributed to increased costs and investment in growth [8][11] Cash Flow and Dividends - dLocal generated strong free cash flow, with adjusted free cash flow reaching US$64.9 million in Q4 2025, a 100% increase year-over-year [4][10] - The company declared a cash dividend of US$57 million, equivalent to approximately US$0.1939 per share, to be paid on June 10, 2026 [13] - A new share repurchase program was authorized for up to US$300 million, reflecting confidence in future cash generation [14] Market Position and Strategy - dLocal's CEO highlighted the company's exceptional execution in 2025, emphasizing the strength of its business model and the potential of emerging markets [7] - The company is focused on expanding its financial infrastructure platform, leveraging high growth in a large total addressable market (TAM) and strong customer loyalty [7][27] - dLocal plans to provide guidance on Operating Profit starting in 2026, aiming to enhance comparability with industry peers [30]

Earnings Presentation 3Q25 Earnings Presentation Q1'25 ➔ 1 This presentation may contain forward-looking statements. These forward-looking statements convey dLocal's current expectations or forecasts of future events, including guidance in respect of total payment volume, revenue, gross profit and Adjusted EBITDA. Forward-looking statements regarding dLocal and amounts stated as guidance involve known and unknown risks, uncertainties and other factors that may cause dLocal's actual results, performance or a ...